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Týždenný prehľad zaujímavostí vo svete diamantov .

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Rapaport Weekly Market Comment February 23, 2017


High hopes for next week’s Hong Kong show after China jewelry sales improved during the Chinese New Year. Polished prices steady as suppliers await outcome of the show and defend high rough prices. Manufacturing rising with steady rough demand during sight week. De Beers 2016 earnings +159% to $667M, revenue +30% to $6.1B, to raise 2017 production from 27M to 31-33M cts. Lucara 2016 sales +32% to $296M, profit -9% to $71M. Petra Diamonds 1H revenue +48% to $229M, profit of $35M vs. $2M previous year. Dominion 2016 sales -21% to $571M, Ekati production +40% to 5.2M cts. India Jan. polished exports +3% to $1.6B, rough imports +28% to $1.3B. ALROSA CEO Andrey Zharkov to step down.


RapNet Data: February 23

Diamonds 1,235,554
Value $7,550,793,072
Carats 1,322,250
Average Discount -30.19%
The RapNet Diamond Index (RAPI™) is the average asking price in hundred $/ct. of the 10 percent best priced diamonds, for each of the top 25 quality round diamonds (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better) offered for sale on RapNet - Rapaport Diamond Trading Network.

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RAPAPORT ANNOUNCEMENTS
Feb-Mar 21-1 Tue-Wed
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Feb-Mar 21-3 Tue-Fri

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March 1-8 Wed-Wed

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QUOTE OF THE WEEK
They’re probably the oldest thing any of us will ever touch.

De Beers head of strategy Gareth Mostyn on the value of natural diamonds.

MARKETS


United States: Polished market stable with buyers looking for deals and pushing for higher discounts. Steady demand for 1 to 2.99 ct., D-J, VS1-SI1 diamonds…

Belgium: Sentiment weak as trading slowed in February. Difficult to find the right goods at the right price…

Israel: Trading slowed after busy International Diamond Week. Rising expectations for Hong Kong show (Feb. 28 to Mar. 4) with large delegation of 83 exhibitors in Israel pavilion…

India: Trading cautious with foreign buyers looking for bargains and dealers waiting for better prices at the Hong Kong show…

Hong Kong: Positive sentiment as trading improves ahead of the show. Buyers looking for goods as they expect suppliers to hold prices firm during the show in order to cover exhibition expenses…

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RAPAPORT STATEMENT
Rapaport Statement on President Trump’s Trade Policy

President Trump’s trade policy is based on his principles of “America First” and “Reciprocity.” America must use its purchasing market power to ensure reciprocal benefits from trade partners...

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FIVE-MINUTE INTERVIEW
De Beers Foresees Pleasingly Normal 2017

After diamond inventory levels returned to normal in 2016, De Beers is raising its production and marketing activity to spur growth, says Gareth Mostyn, head of strategy and corporate affairs...

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INDUSTRY
De Beers Profit Jumps as Diamond Market Stabilizes

Profit more than doubled for De Beers last year as trading conditions in the diamond-manufacturing sector improved and inventory levels stabilized. Underlying earnings jumped to $667 million in 2016 from $258 million a year earlier. This came as revenue grew 30% to $6.07 billion, reflecting a 37% hike in rough-diamond sales to $5.6 billion. The midstream of the diamond industry returned to buying rough after a 2015 slump in demand, parent company Anglo American explained.

ALROSA President Zharkov to Step Down

Andrey Zharkov (pictured) will resign as president of ALROSA, a source close to the Russian diamond miner said. Zharkov’s three-year term as president expires in May 2018, but the timing of his departure is unclear. The Russian government is considering Sergey Ivanov – ex-head of insurer SOGAZ and son of the former head of the Kremlin administration – as Zharkov’s replacement, according to Reuters.
India’s Diamond Trade Bounces Back

Diamond trading in India improved in January, according to data from the Gem & Jewellery Export Promotion Council (GJEPC), as the country’s manufacturing sector continues to recover from a liquidity squeeze in the final months of last year. Imports of rough diamonds, an indicator of demand from India’s large cutting-and-polishing sector, jumped 28% to $1.26 billion during the month. Polished exports increased 3% to $1.62 billion.

RETAIL & WHOLESALE
Luxury Veterans Join Tiffany Board

Tiffany & Co. has expanded its board to include three seasoned retail executives. Roger Farah, a former chief operating officer of Ralph Lauren, will become an independent director, alongside Francesco Trapani, who was CEO of Bulgari during its takeover by LVMH Moët Hennessy Louis Vuitton in 2011. Joining the duo on the board will be James Lillie, who was CEO of Jarden Corporation until its sale to Newell Brands in April 2016. Tiffany chairman Michael Kowalski also indicated he planned to step down.
Forevermark Hits 2,000-Store Milestone

Forevermark has entered its 2,000th retail location worldwide, eight years after the De Beers-owned diamond brand was born. Forevermark, which professes to offer only natural, untreated and responsibly sourced diamonds, has expanded to 25 markets since its launch in 2008, De Beers said. In 2016, the number of retail doors rose 14%.


Gitanjali Slides on Weak Diamond Sales

Gitanjali Gems’ share price slumped after the Indian jeweler reported a drop in sales and profit for its fiscal third quarter, which ended December 31, 2016. The company, one of India’s largest jewelry retailers, said revenue had fallen 1.4% year on year to $499.9 million (INR 33.53 billion) during the period. Net profit slid 17% to $8.7 million.
Store Growth Drives Michael Hill Sales

Michael Hill’s sales increased 5% to $250.9 million (AUD 327.5 million) during the fiscal first half ending December 31, as it expanded its store network. Same-store sales crept up 0.8%, while net profit after tax grew 3.4% to $19.7 million, the Australia-based jeweler reported. The company operated 305 stores under the Michael Hill brand at the end of December – 12 more than a year earlier. The retailer also added a net 13 stores under its Emma & Roe brand.
MINING
Dominion Sales Fall After Ekati Fire

Sales at Dominion Diamond Corporation slumped 21% to $570.9 million in the fiscal year that ended January 31, due to a fire at its Ekati mine and sluggish demand for smaller rough stones. Revenue slid 29% in the third quarter and 27% in the fourth quarter. Ekati closed for three months after the fire in June, while a liquidity crisis in India also dented demand for smaller stones, the company explained.
Lucara Profit Drops Amid Currency Shift

Lucara Diamond Corp.’s profit declined 9% to $70.7 million in 2016 as higher taxes and foreign exchange rates worked to the company’s disadvantage. The company reported a foreign-exchange loss of $11 million compared with a gain of $15 million a year earlier. Revenue from rough-diamond sales jumped 32% to $295.5 million, or $824 per carat.
Petra Cautious After Labor Unrest

Petra Diamonds warned its production may be toward the lower end of prior projections after labor action caused delays at its Cullinan mine in South Africa. Output for the fiscal year ending June 30 is still on track to be within the guidance of about 4.4 to 4.6 million carats, the miner said. Sales jumped 48% to $228.5 million during the half-year ending December 31.

Stellar Agrees to Operate Sierra Leone Mine

Stellar Diamonds has entered a subcontracting arrangement to operate the Tonguma mine in Sierra Leone, after opting out of a deal to acquire the deposit. Under the arrangement, Stellar will run the mine and sell the resulting diamonds, paying a percentage of revenues to the project’s owner, Octea Mining. Stellar, which already owns the adjacent Tongo mine, had initially been in talks to acquire Tonguma from Octea.



GENERAL



Swiss Watch Exports Continue to Decline

Swiss watch exports fell 6% to $1.42 billion (CHF 1.43 billion) in January, according to the Federation of the Swiss Watch Industry. The downward trend has flattened out since November but remains negative, the federation said. Exports to Hong Kong, Switzerland’s largest trade partner for timepieces, slipped 3.9% to $197.3 million – a comparatively mild drop after a 25% overall slide for 2016.

GIA Executive to Head Diamond Empowerment Fund

The Diamond Empowerment Fund (DEF) announced that Anna Martin would be serving as its new president, succeeding Phyllis Bergman, who is departing after a five-year term. Martin (pictured) is senior vice president for global development and beneficiation at the Gemological Institute of America (GIA).
ECONWATCH



Diamond Industry Stock Report

Large diamond miners’ stocks had a disappointing week, with Dominion Diamond (-12%) leading the declines after reporting a drop in full-year sales. ALROSA (-4.5%) fell amid uncertainty over who will replace its departing president. Petra Diamonds (-3.7%) also lost ground after issuing cautious production guidance following a mining disruption. In the U.S., Birks Group (-9%) headed the declines in a generally poor week for retail stocks.

View the detailed industry stock report


Feb 23, 2017 (13:36 GMT) Feb 16, 2017 (13:26 GMT) Chng.
$1 = Euro 0.95 0.94 0.01
$1 = Rupee 66.72 67.01 -0.30
$1 = Israel Shekel 3.70 3.72 -0.02
$1 = Rand 12.86 12.98 -0.12
$1 = Canadian Dollar 1.31 1.30 0.01

Precious Metals Chng.
Gold $1,244.78 $1,238.43 $6.35 0.5%
Platinum $1,011.50 $1,015.20 -$3.70 -0.4%
Silver $18.11 $18.05 $0.06 0.3%

Stock Indexes Chng.
BSE 28,892.97 28,301.27 591.70 2.1%
Dow Jones 20,775.60 20,611.86 163.74 0.8%
FTSE 7,302.77 7,276.94 25.83 0.4%
Hang Seng 24,114.86 24,107.70 7.16 0.0%
S&P 500 2,362.82 2,349.25 13.57 0.6%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Moderátor
Rapaport Weekly Market Comment March 2, 2017


Positive mood at Hong Kong show with steady dealer trading and improving Chinese demand. Suppliers holding prices firm at the show after Feb. 1 ct. RAPI -0.3%. U.S. market optimistic with rising economic sentiment as Dow hits 21,000. Signet shares slump over -10% as jeweler defends against sexual harassment allegations. Rough market premiums softening after $545M De Beers sight. U.S. 2016 polished imports flat at $23B, exports +3% to $18.9B. Hong Kong 2016 polished imports -1% to $17.4B, exports flat at $13.4B. De Beers unveils new melee screening machine as concerns rise about undisclosed synthetics. Tiffany Stevens appointed CEO of Jewelers Vigilance Committee.


RapNet Data: March 2

Diamonds 1,276,737
Value $7,766,680,402
Carats 1,373,166
Average Discount -30.25%

www.rapnet.com
The RapNet Diamond Index (RAPI™) is the average asking price in hundred $/ct. of the 10 percent best priced diamonds, for each of the top 25 quality round diamonds (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better) offered for sale on RapNet - Rapaport Diamond Trading Network.

Get Current Price List | Subscribe to Rapaport | Join RapNet
RAPAPORT ANNOUNCEMENTS
March 1-8 Wed-Wed

Rapaport Single Stone Auction

New York & Israel

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March 21-29 Tue-Wed

Rapaport Melee Auction

New York & Dubai

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March 22-29 Wed-Wed

Rapaport Single Stone Auction

New York & Israel

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QUOTE OF THE WEEK
Confidence is everything in the diamond sector.

Jonathan Kendall, president of De Beers grading subsidiary IIDGR, at the launch of the company’s newest melee screening machine.


MARKETS
United States: Polished trading steady with dealers watching trends at the Hong Kong show. Buyers looking for goods but are prepared to wait for the right deal…

Belgium: Antwerp quiet with many dealers in Hong Kong for the show. Good demand for 0.30 to 2 ct., D-H, VS-SI, RapSpec A2 diamonds…

Israel: Large delegation of suppliers at Hong Kong show. Good demand for 0.30 to 2 ct., G-J, VS-SI, RapSpec A2+ diamonds…

India: Mumbai relatively quiet with many dealers in Hong Kong. There are very few foreign buyers in India this week. Sentiment improving with steady orders for GIA dossiers…

Hong Kong: Market busy with improving sentiment during Hong Kong show. Independent Chinese retailers more optimistic than major Hong Kong-based jewelers…

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RAPAPORT STATEMENTS



Diamond Trade Hopeful for Polished Price Rebound

Diamond trading this February was slower than in previous years, with buyers pushing for deeper discounts and suppliers expecting firmer prices at the Hong Kong show. Sentiment improved, as dealers anticipate U.S. and Chinese jewelers will start replacing inventory sold during the holiday seasons. The RapNet Diamond Index (RAPI™) for 1-carat polished diamonds declined 0.3% in February and was down 1.2% from the beginning of the year.

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Rapaport Investment Diamond Certificate Sets New Industry Standard for Diamond Quality

The Rapaport Group launched the Rapaport Investment Diamond Certificate at the Hong Kong International Diamond, Gem and Pearl Show this week. The certificate is only available for diamonds that meet stringent Rapaport gemological and investment-grade standards. All diamonds are graded by the Gemological Institute of America (GIA) as well as Rapaport Laboratories. The diamonds must be 0.50 ct. and larger, D-H color, IF-VS2 clarity, and meet Rapaport specifications.

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INDUSTRY
Hong Kong Show Sparks Optimism

Sentiment improved with steady diamond trading at the Hong Kong Diamond, Gem & Pearl show. Dealer trading dominated activity in the first few days. Jewelers are looking for goods but remain cautious about building inventory levels after the Chinese New Year signaled a shift toward lower-price-point items. Dealers are optimistic about polished demand in the coming months, as the show indicated some pent-up Far East and dealer demand.


De Beers Unveils New Synthetics Detector

De Beers showcased an updated version of its automated melee screening machine, the AMS2, in Hong Kong, claiming it could check a wider range of diamonds for undisclosed synthetics, and at a faster rate. The AMS2 allows screening of stones as small as 0.003 carats, whereas the first-generation machine started with 0.01-carat diamonds. The updated machine is also 10 times faster than its predecessor, can check up to 3,600 stones per hour, and refers fewer goods for further testing.







U.S. Polished Diamond Imports Stable

Polished diamond imports to the U.S. were almost flat last year, recent government data showed. Inbound shipments slipped 0.3% to $23.03 billion in 2016. By volume, imports declined 2.6% to 10.8 million carats, while the average price increased 2.4% to $2,126 per carat. Polished imports from India jumped 17% to $8.62 billion, while shipments from Israel dropped 15% to $7.08 billion. U.S. polished exports climbed 2.9% to $18.85 billion.







World Diamond Council Names New Head

The World Diamond Council (WDC) appointed Marie-Chantal Kaninda as executive director, effective March 1. Kaninda (pictured) is replacing Patricia Syvrud, who stepped down February 28. Syvrud had been in the role since October 2014, when she joined as the council’s first executive director. Kaninda has more than 20 years’ industry experience at companies including De Beers, Rio Tinto and Anglo Gold Ashanti. A resident of the Democratic Republic of Congo, she has chaired the nation’s private-sector anti-corruption initiative since 2012.


RETAIL & WHOLESALE

Signet Refutes Sexual Harassment Claims

Signet Jewelers’ share price fell more than 10% this week following a media report outlining alleged claims of sexual harassment and discrimination at its Sterling Jewelers division. The Washington Post reported that declarations from roughly 250 women and men were filed as part of a private class-action arbitration case, alleging sexual harassment during the late 1990s and 2000s at Sterling. The company disputed the allegations, saying the reports were distorted and inaccurate.
J.C. Penney Scales Back Physical Stores

J.C. Penney plans to close 130 to 140 stores this year, joining the list of major U.S. retailers downsizing their brick-and-mortar networks in the face of growing competition from ecommerce. The department-store chain will shut 13% to 14% of its outlets and two distribution facilities. It will unveil the locations of the closures in mid-March and expects the stores to shut in the second quarter. The announcement comes after Macy’s recent decision to close about 14% of its physical outlets over the coming years.
Berkshire Hathaway’s Retail Sales Jump

Revenue from Berkshire Hathaway’s retail division, including three jewelry businesses, grew 14% to $15.09 billion last year, the company reported. Pre-tax earnings for the unit increased 17% to $659 million in 2016, the Warren Buffett-owned conglomerate said. The rise in sales reflected the acquisitions of car-dealership group Berkshire Hathaway Automotive and motorcycle-accessory retailer Detlev Louis Motorrad in 2015. The retail division also includes jewelers Borsheims, Helzberg and Ben Bridge.


MINING



De Beers Sale Points to Steady Rough Demand

De Beers reported rough diamond sales of $545 million in February as demand remained steady from the beginning of the year. Sightholders noted an improvement in market conditions for the first two months of the year, after Indian demand slumped in November due to the government’s demonetization policy. Manufacturing has returned to normal, and the effect of demonetization has stabilized, explained a Mumbai-based dealer. Demand for lower-quality, smaller rough, which was particularly affected by the Indian crisis, rebounded, sightholders observed
ALROSA Close to Naming Ivanov President

ALROSA’s shareholders will nominate Sberbank senior vice president Sergey Ivanov as president of the mining company, according to Russian press agency TASS. The report cited Russia’s Deputy Prime Minister Yury Trutnev as naming Ivanov (pictured) when asked who would be nominated to take over from the departing Andrey Zharkov. The decision over his successor will be made at the next supervisory-board meeting, TASS cited Trutnev as saying.

ALROSA Israel Sale Garners $22M

ALROSA sold $21.8 million of rough and polished diamonds at its tender in Israel in February. The company sold 105 items at the event, which took place during Israel’s International Diamond Week at the Ramat Gan bourse. Lots sold included the round, 80.59-carat, J-color, VS2-clarity “Star of Viluysk” polished diamond, which was on display at the show. A company spokesperson declined to say how much the diamond fetched.
Stornoway Upbeat on Revenue After 2016 Profit

Stornoway Diamond Corporation recorded a profit in 2016 due to a tax refund, and received a performance boost from the launch of the Renard mine in October. Net income for the year was $15 million (CAD 19.6 million), versus a loss of $2.8 million in the comparable period of 2015. A deferred tax payment of $35.4 million lifted the company’s bottom line, as the company has yet to record revenue from the mine.
Trans Hex Rough Sales Fetch $895/ct.

Diamond miner Trans Hex reported sales of $14.7 million (ZAR 201.1 million) at three recent tenders of rough stones from its wholly owned operations in South Africa. The sales in October, December and February fetched an average price of $895 per carat for 16,447 carats, the Cape Town-based company said. Six diamonds sold for more than $10,000 per carat each, including a 4-carat stone from the Baken mine in South Africa, which garnered $27,245 per carat.
GENERAL



Lucara Diamonds Shine at Oscars

Charlize Theron stole the attention of jewelry observers at the Academy Awards with a mammoth pair of earrings featuring diamonds from the Karowe mine in Botswana. The Chopard diamond drop earrings contained a total weight of 59.9 carats and were cut from a 341.9-carat rough diamond, the Queen of Kalahari, which Lucara Diamond Corporation extracted from Karowe in April 2015. The miner sold the rough diamond three months later for $20.6 million, or $60,114 per carat, at an exceptional-stone tender.
MID Tops Ranking of Israel Diamond Exporters

MID House of Diamonds was the leading Israeli polished-diamond exporter in 2016 for the second year running, according to the nation’s diamond controller. The company’s exports declined 3.7% to $184 million. Each of the top five exporters experienced a drop in shipments in 2016, while overall polished exports fell 6% to $4.68 billion, government data showed. The list of the top 20 exporters excludes about 15 companies that chose to keep their data confidential.
Sarine, GGTL Partner to Advance Diamond Grading

Sarine Technologies and GGTL Laboratories have agreed to work together to research new approaches to diamond grading and authentication. The two companies will collaborate to address current and future industry needs, including the detection of synthetic diamonds. GGTL was formed in 2010 through the merger of the Geneva-based GemTechLab and Liechtenstein’s GEMLAB.
JVC Names Tiffany Stevens as CEO

The Jewelers Vigilance Committee (JVC) has appointed Tiffany Stevens as president and chief executive officer, replacing Cecilia Gardner, who has served in the role for 18 years. Stevens (pictured) will take up the position on March 6. A qualified lawyer, Stevens has previously held leadership roles at non-profit organizations and foundations focused on the environment, education and the arts.
ECONWATCH



Diamond Industry Stock Report

U.S. retail stocks gained as President Donald Trump’s Congress speech pushed the Dow Jones Industrial Average to a record 21,000 points. Two notable exceptions were Signet (-12%), whose stock fell following negative media coverage, and J.C. Penney (-11.5%), which announced plans to close stores. Mining stocks generally declined, with Dominion Diamond (-7.5%) dropping for a second consecutive week following recent disappointing sales results.

View the detailed industry stock report


Mar 2, 2017 (12:52 GMT) Feb 23, 2017 (13:36 GMT) Chng.
$1 = Euro 0.95 0.95 0.01
$1 = Rupee 66.76 66.72 0.04
$1 = Israel Shekel 3.69 3.70 -0.01
$1 = Rand 13.10 12.86 0.24
$1 = Canadian Dollar 1.34 1.31 0.03

Precious Metals Chng.
Gold $1,241.10 $1,244.78 -$3.68 -0.3%
Platinum $1,008.70 $1,011.50 -$2.80 -0.3%
Silver $18.34 $18.11 $0.23 1.3%

Stock Indexes Chng.
BSE 28,839.79 28,892.97 -53.18 -0.2%
Dow Jones 21,115.55 20,775.60 339.95 1.6%
FTSE 7,377.57 7,302.77 74.80 1.0%
Hang Seng 23,728.07 24,114.86 -386.79 -1.6%
S&P 500 2,395.96 2,362.82 33.14 1.4%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Moderátor
Rapaport Weekly Market Comment March 9, 2017


Dealers optimistic about short-term demand following improved trading at the Hong Kong show. Buyers did better than sellers as suppliers were willing to compromise on price in order to generate liquidity and reduce inventory before new better-quality polished production becomes available. Chinese demand changing and competing with U.S. market for lower-price-point SI-I1 goods, leaving IF-VVS weak. Signet Jewelers 2016 sales -2% to $6.4B, profit +16% to $543M. Belgium Feb. polished exports -15% to $1.4B, rough imports -32% to $908M. GIA discovers large parcel of undisclosed CVD synthetics mixed with natural melee at Mumbai lab. Russia confirms Sergey Ivanov as new ALROSA CEO.


RapNet Data: March 9

Diamonds 1,228,325
Value $7,504,133,823
Carats 1,318,582
Average Discount -30.34%

www.rapnet.com



The RapNet Diamond Index (RAPI™) is the average asking price in hundred $/ct. of the 10 percent best priced diamonds, for each of the top 25 quality round diamonds (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better) offered for sale on RapNet - Rapaport Diamond Trading Network.




Get Current Price List | Subscribe to Rapaport | Join RapNet
RAPAPORT ANNOUNCEMENTS
March 21-29 Tue-Wed
Rapaport Melee Auction

New York & Dubai

View Details March 22-29 Wed-Wed
Rapaport Single Stone Auction

New York & Israel

View Details April 2-5 Sun-Wed
Rapaport Single Stone Auction

Israel View Details

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QUOTE OF THE WEEK
When people say, ‘I'm not going to buy diamonds because it has a bad rap,’ think of the two-plus million people in Botswana who are going to be affected by their decision.

William Lamb, CEO of Lucara Diamond Corporation, in an interview with Bloomberg.
MARKETS

United States: Polished trading stable with positive momentum from the Hong Kong show. Steady demand for 1 ct., G-J, VS-SI diamonds…

Belgium: Positive sentiment as trading improved at the Hong Kong show. Dealers optimistic about short-term rise in polished trading after slow start to the year…

Israel: Dealers more optimistic after Hong Kong show. Good Indian demand for I-K colors…

India: Polished market stable as dealers returned from positive Hong Kong show. Dealers optimistic about the U.S. and hopeful the Chinese market is starting to improve…

Hong Kong: Positive mood as dealers focus on follow-up after the show. Good dealer demand for loose diamonds which were more liquid than finished jewelry at the show…

Click here for deeper analysis

INSIGHTS

5 Lessons from the Hong Kong Show

The Hong Kong show was better than expected for the diamond trade, as Chinese jewelers were looking for goods after being absent from the market for some time. But while exhibitors were simply happy to be doing business again, conditions ultimately favored buyers...
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INDUSTRY

GIA Finds Significant Undisclosed Synthetics

The Gemological Institute of America (GIA) recently uncovered an unusually large number of undisclosed synthetic diamonds mixed in with natural melee diamonds, the lab confirmed. A parcel of 323 melee diamonds with an average size of 0.014 to 0.015 carats was found to contain 101 chemical vapor deposition (CVD) synthetic stones at the GIA’s Mumbai lab. The goods had been submitted to the GIA’s Melee Analysis Service, which made the discovery.
Court Upholds Leviev Win Against Julius Klein

A New York federal judge upheld an arbitration ruling in favor of diamond magnate Lev Leviev (pictured) in a long-running dispute with the Julius Klein Group. The judge ordered Julius Klein and four of its principals to pay $142 million to LGC USA Holdings, an affiliate of the Leviev Group of Companies, according to Leviev’s firm. This is in addition to more than $66 million that has already been paid – amounting to a total award of $209 million.

India Braces for Ban on Large Cash Deals

India’s ban on high-value cash transactions could damage rural gold demand or spur growth in the black market, the World Gold Council (WGC) warned. From April 1, the government will cap cash purchases at $4,493 (INR 300,000) as it continues its attempts to transform the nation’s economy into one based more on electronic transactions. Consumers in rural India do not necessarily have access to checks and electronic payments, the WGC pointed out.

Belgium’s Polished Exports Decline

Belgium’s diamond-trade statistics for February made for somber reading, as data from the Antwerp World Diamond Centre (AWDC) showed a slowdown in both polished and rough shipments. Polished exports slid 15% year on year to $1.35 billion. The average price of exports fell 2% to $2,551 per carat. Rough imports fell 32% to $908.2 million, while rough exports declined 15% to $1.09 billion.

RETAIL & WHOLESALE

Signet Jewelers Cautious for 2017 as Sales Decline
Signet Jewelers' sales fell 5% to $2.27 billion during the fourth quarter, as the retailer continues to adapt to a challenging retail environment and weak mall traffic. The company expects same-store sales to decline by low-to-mid-single digits in the coming year as it adjusts to competitive pricing in the jewelry sector and changing consumer behavior. Same-store sales declined 4.5% in the fourth quarter, which ended January 28. Net income grew 9% to $297.5 million due to reduced expenses and lower taxes.

Michael Hill Okays Phil Taylor as CEO

Australia-based jeweler Michael Hill has appointed Phil Taylor as its chief executive officer, the company announced on Monday. Taylor (pictured) had been interim CEO since August of last year, following the exit of longstanding company head Mike Parsell. Michael Hill’s board has been impressed by the new perspectives and decisive action evident since Taylor was appointed acting CEO, company chair Emma Hill said.

Charles & Colvard, Helzberg Expand Retail Deal

Charles & Colvard will double the number of Helzberg Diamonds stores where its moissanite jewelry is available, under an extension of its arrangement with the Warren Buffett-owned retailer. The moissanite provider began supplying products to Helzberg’s ecommerce site in 2013 and later expanded the partnership to some of the jeweler’s retail stores.



MINING
Ivanov Confirmed as ALROSA Chief

Russia’s government has appointed Sergey Ivanov as president of ALROSA for a three-year term, according to an official statement. Ivanov is the son of a former Kremlin-administration head and currently serves as senior vice president of Sberbank, having previously headed insurer SOGAZ. He will replace Andrey Zharkov, who has been ALROSA’s president since 2015 and is set to leave just over a year before his contract’s May 2018 end date.

Resource Estimate Drops for Argyle Mine

Rio Tinto has lowered its estimate of the mineral resources available at its Argyle diamond mine in Australia, as the company reconsiders its plans to extend the project. Estimated mineral resources fell 66% to 15 million tonnes in 2016, compared with the previous year, the miner said. Mineral resources are the quantity of material in a mine that has reasonable prospects for being extracted economically.
All Parcels Sell at Gahcho Kué Tender

Mountain Province sold 277,646 carats of rough diamonds at its second tender of production from the recently launched Gahcho Kué mine in Canada. The company sold all the parcels of diamonds on offer, including those it had held over from its January sale due to India’s liquidity crisis. While that previous sale of 49,420 carats fetched $6.3 million at an average price of $127 per carat, the miner did not disclose the dollar value of its second tender.
Lucapa’s Lulo Rough Sale Fetches $7M

Lucapa Diamond Company sold $6.9 million (AUD 9.1 million) worth of rough diamonds at a recent tender of goods from its Lulo mine in Angola. The parcel of 1,552 carats went for an average of $4,446 per carat. The sale featured a 227-carat, D-color, type-IIa diamond recovered last month at Lulo, but the company said it would not disclose the selling price for commercial reasons. The sale brings total proceeds from Lulo rough diamonds to $10.7 million since the start of 2017.

GENERAL
Dehres Targets North American Market
High-end diamond and jewelry supplier Dehres has opened an office in Canada as it eyes expansion in the North American market. Sandy Ray, Dehres’s managing director for Canada, launched the base in Vancouver last week, in collaboration with local diamantaire Melvin Moss. Complementing the firm’s existing offices in Hong Kong and Shanghai, the new outpost will mainly target upmarket Canadian and U.S.-based retailers and wholesalers, the company said.

Diamond Club West Coast Picks President

Moshe Salem has been elected president of Diamond Club West Coast (DCWC), according to the World Federation of Diamond Bourses (WFDB). Mervyn Hahn and Kalpesh Jhaveri were voted in as vice presidents, and Rahul Parikh took on the role of treasurer. The position of secretary went to Aaron Spicker, while Doron Auslander, Tony Ayvazian, Eli Fish, Vatche Shirikjian and Vipul Udani were selected as directors. DCWC is an affiliate of the WFDB.

ALROSA to Unveil Synthetics Detector

ALROSA will launch its synthetic-diamond detector in May at the Mediterranean Gemmological and Jewellery Conference in Syracuse, Italy. The portable machine screens loose polished diamonds and jewelry, identifying synthetics as well as treated stones or simulants. Three gemologists will test the machine with 50 samples of natural, treated and synthetic diamonds on May 11 and 12.


ECONWATCH
Diamond Industry Stock Report

Mining stocks fell this week, led by Anglo American (-13%), as metal prices dropped. U.S. retail stocks were mainly down, largely tracking the Dow Jones. Luk Fuk (+4.8%) headed otherwise mixed Far East stocks, while European luxury shares mostly increased, led by Swatch Group (+1.6%).

View the detailed industry stock report


Mar 9, 2017 (12:44 GMT) Mar 2, 2017 (12:52 GMT) Chng.
$1 = Euro 0.95 0.95 0.00
$1 = Rupee 66.72 66.76 -0.04
$1 = Israel Shekel 3.69 3.69 0.00
$1 = Rand 13.24 13.10 0.14
$1 = Canadian Dollar 1.35 1.34 0.01

Precious Metals Chng.
Gold $1,207.45 $1,241.10 -$33.65 -2.7%
Platinum $950.05 $1,008.70 -$58.65 -5.8%
Silver $17.20 $18.34 -$1.14 -6.2%

Stock Indexes Chng.
BSE 28,929.13 28,839.79 89.34 0.3%
Dow Jones 20,855.73 21,115.55 -259.82 -1.2%
FTSE 7,277.29 7,377.57 -100.28 -1.4%
Hang Seng 23,501.56 23,728.07 -226.51 -1.0%
S&P 500 2,362.98 2,395.96 -32.98 -1.4%
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Registrovaný uživatel
Kresťanský pastor Emmanuel Momoh objavil v oblasti Kono v Sierra Leone 709 karátový diamant - 13. najväčší diamant sveta. V rovnakej oblasti bol v roku 1972 objavený ešte väčší diamant - 969 karátová hviezda Sierra Leone...

Sierra Leone pastor finds huge diamond in Kono
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Moderátor
Rapaport Weekly Market Comment March 16, 2017


Positive sentiment spreads to trading centers after Hong Kong show demonstrates good dealer demand for dossiers. Selective buyers creating opportunities for suppliers with the best goods. Large volume of new polished expected to fill shortages of better-quality RapSpec A2+ diamonds. Big-stone market improving ahead of Basel show. Rough market stable. ALROSA 2016 revenue +41% to $5.5B, profit quadruples to $2.3B. Grib Diamonds 2016 sales +82% to $336M. Gem Diamonds 2016 revenue -24% to $190M, loss of $144M vs. profit of $77M the previous year. U.S. Jan. polished imports flat at $1.8B, polished exports -1% at $1.3B.

RapNet Data: March 16

Diamonds 1,236,139
Value $7,603,902,582
Carats 1,345,085
Average Discount -30.30%

www.rapnet.com
The RapNet Diamond Index (RAPI™) is the average asking price in hundred $/ct. of the 10 percent best priced diamonds, for each of the top 25 quality round diamonds (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better) offered for sale on RapNet - Rapaport Diamond Trading Network.
Get Current Price List | Subscribe to Rapaport | Join RapNet

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March 21-29 Tue-Wed
Rapaport Melee Auction

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March 22-29 Wed-Wed

Rapaport Single Stone Auction

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April
2-5
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Rapaport Single Stone Auction

Israel

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QUOTE OF THE WEEK
At present, the industry is certainly facing some challenges, but we believe those challenges, as in the past, are short-term in nature.

Mark Light, chief executive officer of Signet Jewelers.
MARKETS
United States: Positive sentiment with steady demand and buyers looking for deals, particularly on GIA-dossiers…

Belgium: Steady activity raises the mood in Antwerp. Buyers filling specific orders and careful not to build up excessive inventory…

Israel: Trading continues to improve. Selective buyers looking for larger volumes in a narrower range of categories…

India: Dealers more optimistic than before the Hong Kong show. U.S. demand steady and Chinese demand continues to improve. SIs moving well…

Hong Kong: Positive mood continues as dealers follow up on leads from the Hong Kong show. Suppliers selling larger volumes of lower-priced goods…

Click here for deeper analysis


MARTIN RAPAPORT
Martin Rapaport to Give Special Presentation at IDC

Martin Rapaport will give a special presentation at the International Diamond Conference in Mumbai on March 20th, 2017. His speech will discuss significant changes in U.S. tax policy that may have a severe impact on the diamond and jewelry industry. Following the conference, Martin will be making an official statement on the matter.

FIVE-MINUTE INTERVIEW

Bringing Diamonds to a New Generation

Jean-Marc Lieberherr, CEO of the Diamond Producers Association (DPA), outlines some of the challenges and goals facing the organization as it works to change the industry’s narrative to raise consumers’ desire for diamonds.

Click here to continue reading
INDUSTRY
U.S. Polished Imports Steady in January

U.S. polished-diamond imports were flat at $1.77 billion in January, according to government data, maintaining the country’s role of supporting industry demand through its stability. A slide in volume was balanced by an 8% rise in the imports’ average price to $2,099 per carat. Polished exports, meanwhile, slipped 1% year on year to $1.25 billion, raising net polished imports 1% to $517 million. Rough imports nearly quadrupled, reaching $120 million, while rough exports more than tripled to $56 million.

Trade Leaders to Gather at Mumbai Conference

India’s Gem & Jewellery Export Promotion Council (GJEPC) will host industry figures from across the world next week at a conference to mark the organization’s 50th anniversary. Entitled “Mines to Market 2017,” the two-day conference on March 19 to 20 will feature talks by ministers from mining countries, representatives of diamond producers, and heads of retail and luxury brands, the GJEPC announced.
Sarine Brings Surat Business Under One Roof

Sarine Technologies has united all its Surat-based operations in one building in the Indian diamond-manufacturing city. The new six-story facility, Sarin House, spans 5,100 square meters and hosts about 400 staff members, the Israel-based supplier of diamond-processing technology said. The building will house customer care and support, along with services such as Quazer laser processing, the Galaxy inclusion-mapping system, and the Sarine Profile sales tool.

RETAIL & WHOLESALE



Chow Tai Fook Taps into Tokyo Tourism

Chow Tai Fook will open its first branded store in Japan, as the weakening yen has increased Tokyo’s appeal to Chinese tourists. The Hong Kong-based jeweler will launch an outlet inside Laox WATCH, a specialty timepiece shop in Central Tokyo’s Shinjuku neighborhood. Chow Tai Fook said it was seeking to tap into growing leisure spending by Chinese tourists in Japan. The number of Chinese visitors to the country jumped 28% to 6.4 million in 2016, according to the Japan National Tourism Organization.
Christie’s to Auction Famed Jonker Diamond

Harry Winston’s famous Jonker No. 5 diamond will be among the top lots offered at Christie’s Magnificent Jewels auction in Hong Kong this May. The rectangular-cut, 25.27-carat, D-color, VVS2-clarity diamond is expected to sell for $2.2 million to $3.6 million, or up to $142,461 per carat, the company said. The stone is one of 13 polished diamonds cut from the famous 726-carat Jonker rough, which digger Jacob Jonker discovered at South Africa’s Elandsfontein mine in 1934.

Complex Patek Philippe Watch Up for Auction

Sotheby’s will auction what it claims is Patek Philippe’s most complicated watch. The Calibre 89 pocket watch, which took Patek Philippe almost 10 years to build, is estimated at $6.4 million to $9.9 million, the auction house said. Unveiled in 1989 to mark the iconic Swiss watchmaker’s 150th anniversary, the yellow-gold timepiece has 33 complications, or features other than the time display. It will lead Sotheby’s Important Watches auction in Geneva on May 14.

MINING

ALROSA Profit Spikes amid Diamond Market Recovery

ALROSA’s profit quadrupled to $2.3 billion (RUB 133.47 billion) in 2016 from $554.2 million the previous year, as rough diamond demand improved and the Russian ruble recovered against the dollar. Revenue grew 41% to $5.46 billion. Foreign exchange gains of $553 million boosted the bottom line, following a 2015 loss from the weak ruble. ALROSA’s board this week approved the appointment of Sergey Ivanov for a three-year term as president and CEO.

Grib Diamond Sales Surge Ahead of Takeover

Lukoil’s diamond revenue nearly doubled to $335.8 million (RUB 20 billion) last year, ahead of the oil producer’s sale of the Grib mine. Sales of rough stones stood at $184.7 million in 2015, having risen from $16.8 million in 2014, the miner said. The company announced the $1.45 billion sale of the mine to Russian investment group Otkritie Holding last year, with the deal currently subject to government approvals.

Gem Diamonds Scraps Bonuses after Weak 2016
Gem Diamonds’ senior managers missed out on their performance-based pay as the miner slid to a loss of $144 million in 2016. The decision not to award Clifford Elphick, Michael Michael and Glenn Turner – respectively the company’s chief executive officer, chief financial officer and legal chief – their bonuses for the year came after revenue fell 24% to $189.8 million in 2016. The company noted a decline in the number of large diamonds extracted from its Letšeng mine in Lesotho.

Merlin Magics Up Green Diamonds in Australia

Merlin Diamonds has recovered five green diamonds at its Australian mining operations, following the discovery of a rare blue diamond in December. The largest of the green diamonds weighs 1.4 carats, and another is 0.21 carats. Independent experts are inspecting other green diamonds from the Merlin mine besides these five, the company said. The diamonds surfaced at the mine’s Kaye pit, part of the operations that the company acquired from Rio Tinto in 2004.
GENERAL



Barbara Wheat to Lead Asian Gem Institute

The Asian Institute of Gemological Sciences (AIGS) has appointed Barbara Wheat as president. Wheat will be based at the AIGS headquarters in Bangkok, Thailand, starting in late March. She will leave her current role as executive vice president of the Natural Color Diamond Association (NCDIA), but plans to open a Thailand chapter of the organization.

JA Unveils CASE Award Winners

Jewelers of America (JA) announced the winners of its 27th annual CASE Awards for jewelry design. Among them were Christian Caine Design of West Virginia, which came first in the new People’s Choice category; The Gem Vault in New Jersey, for two separate white-gold-and-gem pieces; Louisiana’s Aucoin Hart Jewelers, for a pair of diamond, sapphire and pearl earrings; and Virginia’s White & Ivory, for a ring featuring a Black Australian doublet opal, a sapphire and diamonds.

ECONWATCH



Diamond Industry Stock Report

Diamond and jewelry stocks were mixed this week, with the larger conglomerates leading the gains. Shares in Anglo American jumped (+12%) on news that Indian billionaire Anil Agarwal may buy up to 13% in the De Beers parent. Signet Jewelers rose (+6.1%) despite disappointing earnings as management calmed concerns about sexual harassment charges. U.S. department stores were among the bigger losers for the week with Macy’s declining (-4.6%) on reports of activist investor Starboard selling its stake in the retail chain.

View the detailed industry stock report


Mar 16, 2017 (12:45 GMT) Mar 9, 2017 (12:44 GMT) Chng.
$1 = Euro 0.93 0.95 -0.02
$1 = Rupee 65.39 66.72 -1.33
$1 = Israel Shekel 3.63 3.69 -0.06
$1 = Rand 12.73 13.24 -0.51
$1 = Canadian Dollar 1.33 1.35 -0.02

Precious Metals Chng.
Gold $1,231.59 $1,207.45 $24.14 2.0%
Platinum $965.40 $950.05 $15.35 1.6%
Silver $17.45 $17.20 $0.25 1.5%

Stock Indexes Chng.
BSE 29,585.85 28,929.13 656.72 2.3%
Dow Jones 20,950.10 20,855.73 94.37 0.5%
FTSE 7,405.93 7,277.29 128.64 1.8%
Hang Seng 24,288.28 23,501.56 786.72 3.3%
S&P 500 2,385.26 2,362.98 22.28 0.9%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Moderátor
Rapaport Weekly Market Comment March 23, 2017

Polished market upbeat with steady orders from U.S. and Chinese jewelers. Improving demand for big stones as Basel show begins with fewer companies attending due to high exhibitor costs. Sotheby’s to offer Oval, 59.60 ct., Fancy Vivid Pink, IF Pink Star diamond at Apr. 4 Hong Kong auction with low estimate of $60M ($1M/ct.). Rapaport Auctions sells 83,000 cts. for $12.5M at Hong Kong show as melee prices rebound. 1Q Rapaport Melee Index +13%. Tiffany 2016 sales -3% to $4B, profit -4% to $446M. De Beers buys LVMH stake in De Beers Diamond Jewellers. Dominion rejects $1.1B takeover bid from Washington Companies. India Feb. polished exports +3% to $2.4B, rough imports -3% to $1.5B.

RapNet Data: March 23

Diamonds 1,244,958
Value $7,454,575,039
Carats 1,327,166
Average Discount -30.36%

www.rapnet.com

The RapNet Diamond Index (RAPI™) is the average asking price in hundred $/ct. of the 10 percent best priced diamonds, for each of the top 25 quality round diamonds (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better) offered for sale on RapNet - Rapaport Diamond Trading Network.

Get Current Price List | Subscribe to Rapaport | Join RapNet

RAPAPORT ANNOUNCEMENTS
March 21-29 Tue-Wed
Rapaport Melee Auction

New York & Dubai View Details
March 22-29 Wed-Wed
Rapaport Single Stone Auction
New York & Israel

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April 2-5 Sun-Wed
Rapaport Single Stone Auction

Israel

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QUOTE OF THE WEEK
Millennials are going to be our number-one customer in the next five years. They don’t want to go to stores to buy things. I don’t say the shop model is not there, but you need to integrate stores and online sales.

Praveenshankar Pandya, chairman of the Gem & Jewellery Export Promotion Council (GJEPC).

MARKETS

United States: Sentiment improving with dealers filling orders. A lot of goods out on memo. Stable demand for commercial-quality 1 to 2 ct., G-I, VS2-SI2 diamonds…

Belgium: Positive market momentum with good Far East demand for dossiers and steady U.S. demand for 1 ct., D-H, VS-SI, RapSpec A3+ diamonds…
Israel: Polished trading relatively slow compared with other centers. Dossiers stable but 1 to 2.99 ct., D-J, VVS-VS sluggish with tight profit margins…

India: Good mood in the market. Firm prices for smaller diamonds signal diminishing negative impact of demonetization on local trading…

Hong Kong: Polished market slowed slightly after the peak selling period surrounding the March show. Steady demand for 0.50 to 0.70 ct., D-H, VVS-SI RapSpec A2+ (3X, none) diamonds…

RAPAPORT STATEMENT
Rapaport Garners $12.5M at Hong Kong Auctions

Rapaport Auctions, the world’s leading recycler of diamonds, closed its Hong Kong auctions this month at one of the largest jewelry shows of the year. The auctions sold over 83,000 carats of polished diamonds for $12.5M, achieving a sell-through rate of over 87%. The Rapaport Melee Index (RMI™) for small diamonds increased by 13.3% to 108.40 during the first quarter of 2017.
INSIGHTS
Will Retail Help De Beers ‘Build Forever’?

De Beers acquisition of LVMH’s 50% stake in De Beers Diamond Jewellers was hardly surprising, as it means the company has taken full control of its branding. What it does next with the network of stores will be more telling for the company and its Forevermark program...

INDUSTRY

Rapaport to India: Scrap Diamond Import Tax
Martin Rapaport, chairman of the Rapaport Group, called on India to show reciprocity in its trade relationship with the U.S. by lowering or removing its import tax on diamonds, gems and jewelry. Speaking at the “Mines to Market” conference in Mumbai to mark 50 years of India's Gem & Jewellery Export Promotion Council, Rapaport noted that India’s import tax on loose polished diamonds and gems was 2.575%, whereas the U.S. charged nothing. Further, he said, India’s levy on diamond-jewelry imports is 31.56%, compared with America’s 5.5%.
Modi Notes Custom Jewelry Potential

Indian Prime Minister Narendra Modi urged his country’s gem and jewelry industry to forge stronger connections with consumers in order to shape their buying habits and grow the sector. In particular, it should tap into demand for custom jewelry by utilizing the “golden opportunity” of ecommerce technology, he told the “Mines to Market” conference in Mumbai. The trade should support young entrepreneurs in order to cultivate such a market, he added.
India’s Polished Exports Improve in Feb.

India’s polished exports rose 3% to $2.41 billion in February, according to data from the Gem & Jewellery Export Promotion Council (GJEPC). Polished imports dropped 20% to $178 million, and net polished exports – the excess of exports over imports – increased 6% to $2.24 billion. Meanwhile, rough imports declined 3% to $1.51 billion, and rough exports grew 11% to $145 million. The country's net diamond account grew 25% to $875 million.

China’s Polished Imports Rise in 2016

China’s polished diamond imports increased 4.9% to $7.02 billion last year, according to data from the China Customs Information Center. By weight, polished imports increased 1.2% to 7.7 million carats, while the average price rose 3.7% to $916 per carat. Polished exports fell 11% to $1.91 billion, meaning net polished imports jumped 12% to $5.12 billion. Rough imports slid 13% to $666 million, while rough exports increased 11% to $30 million.


RETAIL & WHOLESALE
De Beers Buys Out LVMH Retail Partner

De Beers has taken full ownership of the De Beers Diamond Jewellers (DBDJ) retail operation. The group bought the 50% stake owned by LVMH, which previously operated the stores, for an undisclosed sum, thereby ending its partnership with the luxury house. DBDJ comprises 32 stores in 17 consumer markets around the world, including China, London, Paris and New York.

Pink Star Diamond Back on the Auction Block

Sotheby’s will auction the Pink Star diamond in Hong Kong next month, more than three years after its previous sale fell through. The oval, 59.60-carat, internally flawless, fancy vivid pink diamond is expected to exceed $60 million, which would rank it among the most valuable diamonds ever sold, according to Sotheby’s. It will be on display at the Hong Kong Convention and Exhibition Centre from March 29 to April 3 before going under the hammer on April 4.

Tiffany Targets New Products as Sales Fall

Tiffany & Co. expects to turn a corner in 2017 by raising the number of new product launches following last year’s poor performance. Sales fell 3% to $4 billion in the fiscal year that ended January 31, with net earnings declining 4% to $446.1 million. Tiffany continues to emphasize its fashion product segment and is also seeing increased success with sales under $500, said Michael Kowalski, Tiffany’s chairman and interim CEO.

Swiss Watch Dip Expected to Solidify Market

The Swiss watch industry remained cautious at the start of the Baselworld show as data indicated a continued slowdown in the timepiece trade. The nation’s watch exports declined 10% to $1.5 billion (CHF 1.49 billion) in February, the Federation of the Swiss Watch Industry reported. However, the downturn will lead to a consolidation period that will benefit the entire sector, said Eric Bertrand, president of the Baselworld Exhibitors’ Committee. Baselworld runs from March 23 to 30.

MINING

Dominion Under Merger Spotlight

Dominion Diamond Corporation received a $1.1 billion takeover approach from the Washington Companies. The miner said it was prepared to enter discussions with the group, but claimed the informal proposal was “opportunistic” and undervalued the business. Dominion has also been in merger talks with Stornoway Diamond Corporation, with discussions covering the possibility of Stornoway CEO Matt Manson filling the soon-to-be vacant CEO role at Dominion, Reuters reported.

ALROSA Upbeat Despite Sales Decline

ALROSA sales fell 6% to an estimated $1.25 billion during the first quarter even as its rough diamond prices firmed, the company reported. The miner’s rough diamond price index rose 2%, with reports of strong demand at the beginning of the year. Although sales slowed during the quarter, the company maintained a positive outlook for the rest of 2017, with full-year production projected to rise 5% to 39.2 million carats.
Pastor Finds 706ct. Diamond in Sierra Leone

An alluvial miner discovered a 706-carat rough diamond at the Koyadu village in Sierra Leone, the government confirmed. The stone was presented to the country’s President Ernest Bai Koroma by Paramount Chief Paul Saquee of the Tankoro chiefdom in the Kono district, where artisanal miner Pastor Emmanuel A. Momoh unearthed it. Koroma thanked the chief and his people for not smuggling the diamond out of the country and stressed the importance of selling it in Sierra Leone.

GENERAL

DPA Taps Bartle Bogle Hegarty for India Ads
The Diamond Producers Association (DPA) has appointed Bartle Bogle Hegarty as its creative agency in India. The organization plans to roll out the “Real Is Rare” campaign in the sub-continent in September, reported DPA chief executive officer Jean-Marc Lieberherr (pictured). The launch will be the DPA’s first venture outside the U.S. The association is also seeking to raise its budget for 2017, which will be funded by its seven member mining companies, predominantly De Beers and ALROSA.

Shenzhen Bourse to Embrace Polished Diamonds

The Shenzhen Rough Diamond Exchange (SRDE) plans to expand into polished trading and is preparing to rebrand as the Shenzhen Diamond Exchange to reflect the upgrade. The SRDE opened a bonded warehouse in 2015, where rough diamonds and colored gemstones that have been shipped into the Chinese city can be held tax-free for traders to view. The exchange now plans to receive polished diamonds, which will then be sent to the Shanghai Diamond Exchange as per import procedures.
TAGS to Hold Six Dubai Rough Tenders

Trans Atlantic Gem Sales (TAGS) will host six rough diamond tenders at the Dubai Diamond Exchange this year. The collaboration aims to enable suppliers with smaller production to present their goods alongside larger offerings and gain greater exposure. Buyers, meanwhile, will be able to maximize the value of their viewing time, since they’ll have access to a wider range of goods, explained Mike Aggett, general manager of TAGS (pictured).

ECONWATCH
Diamond Industry Stock Report

Dominion Diamond (+44%) and Stornoway Diamond (+12%) both gained significant value following reports the pair were in merger talks, with Dominion also boosted by a separate $1.1 billion takeover bid from Washington Companies. In the U.S., J.C.Penney (-7.8%) and Macy's (-6.4%) led the declines amid continued concerns over the future of brick-and-mortar retail. Tiffany & Co. (+5.7%) rose on better-than-expected results.

View the detailed industry stock report
Mar 23, 2017 (11:58 GMT) Mar 16, 2017 (12:45 GMT) Chng.
$1 = Euro 0.93 0.93 0.00
$1 = Rupee 65.47 65.39 0.08
$1 = Israel Shekel 3.64 3.63 0.01
$1 = Rand 12.51 12.73 -0.22
$1 = Canadian Dollar 1.33 1.33 0.00

Precious Metals Chng.
Gold $1,248.10 $1,231.59 $16.51 1.3%
Platinum $964.00 $965.40 -$1.40 -0.1%
Silver $17.60 $17.45 $0.15 0.9%

Stock Indexes Chng.
BSE 29,332.16 29,585.85 -253.69 -0.9%
Dow Jones 20,661.30 20,950.10 -288.80 -1.4%
FTSE 7,325.46 7,405.93 -80.47 -1.1%
Hang Seng 24,327.70 24,288.28 39.42 0.2%
S&P 500 2,348.45 2,385.26 -36.81 -1.5%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Moderátor
Rapaport Weekly Market Comment April 6, 2017


Positive mood but market cooling ahead of Passover and Easter break. First quarter weaker than previous years with cautious retail inventory replacement. 1 ct. RAPI -1.1% in 1Q, +0.1% in March. Good demand for 0.30 to 0.49 ct. diamonds. Rough market hot with 3% to 10% dealer premiums after De Beers $580M sight exceeds expectations. Sotheby’s Hong Kong sells 59.60 ct., fancy vivid pink, IF diamond to Chow Tai Fook for record $71.2M ($1.2M/ct.). Belgium March polished exports +0.4% to $1.2B, rough imports +2% to $1.1B. Israel bourse to appoint judge to handle high-value arbitration. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON APRIL 14 DUE TO THE JEWISH HOLIDAY OF PASSOVER.

RapNet Data: April 6

Diamonds 1,243,452
Value $7,638,971,461
Carats 1,353,058
Average Discount -29.96%

www.rapnet.com
The RapNet Diamond Index (RAPI™) is the average asking price in hundred $/ct. of the 10 percent best priced diamonds, for each of the top 25 quality round diamonds (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better) offered for sale on RapNet - Rapaport Diamond Trading Network.
Get Current Price List | Subscribe to Rapaport | Join RapNet

RAPAPORT ANNOUNCEMENTS
April 20-26 Thu-Wed
Rapaport Single Stone Auction

New York & Israel
View Details Apr-May 25-3 Tue-Wed
Rapaport Melee Auction

New York & Dubai View Details
May 10-17 Wed-Wed
Rapaport Single Stone Auction

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QUOTE OF THE WEEK
Diamonds have value worldwide, so it comes as no surprise that an alleged organized ring would target diamond wholesalers in Manhattan's diamond district in a worldwide scheme.

Acting Manhattan US attorney Joon Kim after police arrest 10 people accused of involvement in a $9M fraud scheme.


MARKETS

United States: Rising consumer confidence lifting trade sentiment. Independent jewelers that are investing in social media marketing and innovation and adapting to changing consumer needs are doing well…

Belgium: Polished market steady with good demand for 0.30 to 0.49 ct., F-I, VS-SI, RapSpec A2 (3X) diamonds. Commercial-quality, J to L colors also moving well…

Israel: Trading quiet but stable. Many businesses closing for next week’s Passover holiday. Dealers trying to innovate but struggling to break stagnant trading patterns…
India: Steady polished trading driven by consistent Chinese demand. Local dealer demand improving with start of the new financial year in April…

Hong Kong: Positive sentiment but dealer activity has slowed following the Chinese New Year season and due to the public holiday this week…

Click here for deeper analysis


RAPAPORT STATEMENT

Diamond Market Improves After Cautious 1
Diamond trading improved in March, with better-than-expected Chinese demand at the Hong Kong show. Suppliers were willing to compromise on price in order to generate liquidity before new, better-quality polished production becomes available.The RapNet Diamond Index (RAPI™) for 1-carat polished diamonds edged up 0.1% in March and was down 1.1% during the first quarter.

Click here for the full statement

INSIGHTS
Diamond Trade Banking on Relationships

The recent diamond financing seminar in Mumbai highlighted the gulf that exists between the trade and its lenders but also a willingness to engage with one another...

Click here to continue reading

INDUSTRY

Pink Diamond Smashes Records with $71M Sale

Chow Tai Fook bought the Pink Star diamond for $71.2 million, or $1.2 million per carat, at Sotheby’s Hong Kong, making it the most valuable diamond ever sold at auction. The oval, mixed-cut, 59.60-carat, fancy vivid pink, internally flawless diamond originated from a 132.50-carat rough extracted by De Beers in 1999, and cut and polished by Steinmetz Diamonds. The stone was renamed the ‘CTF Pink’ in honor of the buyer’s founder and to mark the jeweler’s 88th anniversary.

De Beers Sees Strong Demand at $580M Sight

De Beers garnered sales of $580 million in March amid positive sentiment in the rough diamond market.That saw the company’s sales rise 2% to $1.86 billion over the first three sights of the year, according to Rapaport records, as rough demand improved following a liquidity crunch in India at the end of 2016. Sightholders reported strong demand for De Beers goods on the secondary market during the sight which ended March 31, with boxes selling at 3% to 10% premiums.

Judge to Head Israel Bourse Arbitration Unit

The Israel Diamond Exchange (IDE) will appoint a judge to decide major disputes between its members, marking a break from its 80-year tradition of settling matters within the trade.The appointee will head the IDE’s Arbitration Institution in lieu of a bourse member, dealing with financial disputes between members valued at $400,000 and above, as well as appeals on smaller disagreements. IDE members will continue to deal with initial arbitration for matters below $400,000.
Gang of Diamond Fraudsters Arrested

New York police arrested 10 men accused of defrauding wholesalers out of diamonds worth more than $9 million. The accused wrote bad checks, forged documents and devised long stories to cheat their victims in New York, Las Vegas and Mumbai, the US Attorney’s Office for the Southern District of New York reported. Police are still looking for two more men charged in the scheme. The group focused on obtaining small melee diamonds, building up credit and trust with the diamond supplier before walking away with millions of dollars in diamonds at the moment of maximum credit, the complaint explained.



RETAIL & WHOLESALE



Signet Says Shareholder Suit Lacks Merit

Signet Jewelers dismissed a lawsuit that claims it misled the public about an arbitration case in which allegations of sexual harassment surfaced. The suit was filed by Irving Firemen’s Relief & Retirement System, an institutional investor in Signet, alleging the company violated federal securities laws by disseminating false or misleading statements about the true nature of the allegations.The suit says shareholders suffered damages when Signet’s shares fell 13% last month as claims of sexual harassment at Signet surfaced in a report by The Washington Post. Signet said the lawsuit was “without merit.”

NRF Predicts Cracking Good Easter

Easter retail sales are projected to rise 6% to $18.4 billion this year, according to the National Retail Federation (NRF), as the holiday’s relatively late date means consumers will have longer to shop. The improving economy means consumers are in the mood to shop and retailers are ready to entice them with deals, the NRF added. US consumer confidence improved 8% in March from the previous month, hitting its highest level since December 2000, the Conference Board said.

Titan Optimistic Amid Indian Economic Reforms

Titan Company projected sales will increase by more than 10% this year, underpinned by government measures to formalize the Indian economy. The jeweler expects to build on exceptional growth in the last fiscal year that ended March 31, which came despite a nationwide jewelers' strike and demonetization which squeezed consumer liquidity. Retail sales grew more than 40% at its flagship Tanishq stores during the fourth fiscal quarter, the company reported.

Signet, DPA Setting Synthetics Detection Criteria

Signet Jewelers is working with the Diamond Producers Association (DPA) and product-testing firm UL to establish quality criteria for equipment that detects synthetics, the jeweler said. The project with UL, formerly Underwriters Laboratories – and not United Laboratories as previously reported by Rapaport News – aims to establish criteria for identifying screening equipment for lab-grown diamonds. That's in addition to the machines currently available from HRD Antwerp, the Gemological Institute of America (GIA) and De Beers' International Institute of Diamond Grading & Research (IIDGR). Signet is not opening a testing laboratory, contrary to the original Rapaport News report.


MINING
Dominion Sees More Life in Diavik Mine

Dominion Diamond Corporation has extended the life span of its jointly owned Diavik mine by two years to 2025. The company, which is currently soliciting bids to be acquired, expects output of 46 million carats for the remainder of the operation, up 16% from its previous estimate. Its revenue forecast subsequently rose 22% to $6.77 billion. Dominion owns 40% of Diavik, with Rio Tinto owning the rest.

Alrosa’s Asian Sales Gain Momentum

Alrosa raised $12.9 million from a rough-diamond auction at its new Eurasian Diamond Centre in Vladivostok. The miner sold 21,000 carats of gem-quality rough for $8 million, at an average price of $380 per carat, with the remaining $4.9 million of sales coming from 440,000 carats of industrial-grade diamonds. The main buyers were Indian and Chinese, but the sale also attracted bidders from South Korea, Europe and Russia, the company said.

Large Yellow Diamond Confirms Liqhobong Potential

Firestone Diamonds has extracted a 110-carat, light-yellow diamond, which it says is the largest discovery to date at its Liqhobong mine in Lesotho. The rough diamond surfaced during the ramp-up phase of the mine, where production began in October. The mine previously yielded 20 stones larger than 10.8 carats, including a 37-carat diamond. The new diamond’s discovery “confirms our long-held belief that Liqhobong has large-stone potential,” said Firestone CEO Stuart Brown.

DiamondCorp Sends Staff Home

DiamondCorp retrenched all employees effective April 3 after talks with its lender and a mining union failed. Negotiations with the rescue practitioner for DiamondCorp’s subsidiary Lace Diamond Mine, to commence care and maintenance at the mine, were terminated without a settlement being reached. DiamondCorp warned that the group will need to be placed in administration if an “accelerated” funding plan cannot be completed by mid-May 2017.
GENERAL

GIA Launches Gem Guide for Artisanal Miners

The Gemological Institute of America (GIA) is piloting a free gemology guide for artisanal miners in producing countries. The aim is to offer basic gemological and market knowledge in regions where gem-mining takes place, the institute explained. The GIA has distributed the illustrated booklet – available in English and Tanzanian Swahili – to approximately 45 women miners in Tanzania’s Tanga region.The project was carried out in partnership with international development organization Pact at a cost $120,000, paid from the GIA’s endowment fund.
London Bourse Recruits Ethics Adviser

The London Diamond Bourse (LDB) has appointed Katherine Chappell, a longstanding member and specialist in fair-trade principles, as its special adviser for ethical issues. This means LDB can enhance its conversations around responsible sourcing and engage in a more relevant dialogue, and at the same time strengthen the bourse’s understanding of specialist issues, explained Victoria McKay, the LDB’s chief operating officer.

JBT Backs Chairman for Second Term

The Jewelers Board of Trade (JBT) has reelected Todd Wolleman, of New York-based colored-stone specialist Leo Wolleman, as chairman for another year. Michael Kaplan of New York’s Rocket Jewelry Box will remain first vice chairman, while Ann Arnold of Arnold Advisory Group in Norwood, New Jersey, will stay on as second vice chairman. Anthony Capuano, meanwhile, continues to serve as president and treasurer. Brenda Pimentel has been reelected as secretary.

Baselworld to Be Two Days Shorter

Organizers of the Baselworld watch and jewelry exhibition have reduced the 2018 edition by two days after fewer buyers and exhibitors attended this year's show. A total of 106,000 buyers took part in the event, down 4% from the previous year, while the number of exhibitors reportedly fell 13% to 1,300. Baselworld said it was responding to exhibitor feedback by limiting the show to six days instead of the traditional eight. Baselworld 2018 will run from March 22 to 27.
ECONWATCH



Diamond Industry Stock Report

Firestone Diamonds (+17%) led mining stocks after the rough producer discovered the largest diamond to date at its Liqhobong mine. In the U.S., retail stocks had a disappointing week amid continued reports of store closures and poor first-quarter figures. Far East stocks climbed, with the gains headed by Chow Tai Fook (+5.4%) in a week that saw the Hong Kong-based retailer buy the most expensive diamond in history.

View the detailed industry stock report
Apr 6, 2017 (12:58 GMT) Mar 30, 2017 (12:22 GMT) Chng.
$1 = Euro 0.94 0.93 0.01
$1 = Rupee 64.55 64.90 -0.35
$1 = Israel Shekel 3.64 3.62 0.02
$1 = Rand 13.84 12.86 0.98
$1 = Canadian Dollar 1.34 1.33 0.01

Precious Metals Chng.
Gold $1,253.12 $1,250.40 $2.72 0.2%
Platinum $954.75 $957.71 -$2.96 -0.3%
Silver $18.23 $18.17 $0.06 0.3%

Stock Indexes Chng.
BSE 29,927.34 29,647.42 279.92 0.9%
Dow Jones 20,648.15 20,659.32 -11.17 -0.1%
FTSE 7,304.24 7,354.17 -49.93 -0.7%
Hang Seng 24,273.72 24,301.09 -27.37 -0.1%
S&P 500 2,352.95 2,361.13 -8.18 -0.3%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Moderátor
Rapaport Weekly Market Comment April 13, 2017


Diamond trading quiet, with many dealers closed during the Passover and Easter holidays. U.S. brick-and-mortar retail under pressure from rise in online shopping as Credit Suisse reports record 2,880 general stores shut in 1Q. Further planned department store closures expected to impact diamond inventory movement. Francisco Partners invests $140M in online jeweler James Allen. Asia Pacific turning a corner with Chow Tai Fook 4Q same-store sales +12% in China, +4% in Hong Kong & Macau. LVMH 1Q jewelry & watch sales +14% to $932M. Dominion FY2017 sales -21% to $571M, operating loss of $57M vs. profit of $8M. ALROSA March sales +1% to $567M. U.S. Feb. polished imports -15% to $1.5B.


RapNet Data: April 13

Diamonds 1,252,860
Value $7,588,988,734
Carats 1,349,962
Average Discount -30.07%

www.rapnet.com

The RapNet Diamond Index (RAPI™) is the average asking price in hundred $/ct. of the 10 percent best priced diamonds, for each of the top 25 quality round diamonds (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better) offered for sale on RapNet - Rapaport Diamond Trading Network.

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QUOTE OF THE WEEK
We continue to observe stable demand in almost all categories of rough diamonds, which is a confirmation of the optimism of market participants shown during the jewelry exhibition in Hong Kong.

Yury Okoyomov, vice president of Alrosa.

INDUSTRY

Alrosa March Sales Beat Expectations

Alrosa saw steady demand for most categories of its rough diamond supply in March, pushing sales above its projected figures for the first quarter. Sales grew 1% year on year to $566.6 million during the month, with analysts at VTB Capital noting this was 12% higher than expected. Rough sales totaled $554.2 million, and polished sales closed at $12.4 million. During the first quarter, rough sales came to approximately $1.3 billion, about in line with last year.

DPA, Signet, De Beers Working on ‘Project Assure’
The Diamond Producers Association (DPA) has launched “Project Assure” to design and implement an independent “Diamond Screening Device Performance Test Protocol.” The protocol is scheduled to be in place in the fourth quarter of 2017. Signet Jewelers and De Beers are supporting the project and participating in its steering committee, which will set up an advisory board comprising diamond and jewelry trade associations. An independent testing laboratory will implement the protocol and solicit companies that produce diamond-screening machines to send their devices for testing.
Kiran Gems Cuts Loose US, HK Subsidiaries

Surat-based Kiran Gems has offloaded a number of subsidiaries as part of a group-wide restructuring effort. The diamond manufacturer’s US-based jewelry operations – Kiran Jewels Inc., Unique Design, SDIL, and Prestige – will operate as independent entities, as will polished-diamond operation Kiran Export Hong Kong. Kiran Gems first announced its reorganizing process in September of last year, when it spun off its Belgium operation, Kiran Exports.


RETAIL & WHOLESALE
Chow Tai Fook Shows Long-Awaited Sales Gains

Chow Tai Fook saw positive retail sales growth in the fiscal fourth quarter that ended March 31. Jewelry retail sales in mainland China increased 16%, with same-store sales rising 12% during the period. Retail sales in Hong Kong and Macau grew 1%, and same-store sales rose 4%. Growth was driven by gold products; gem-set jewelry sales rose 5% in mainland China but fell 17% in the municipalities due to a decline in the average selling price. Chow Tai Fook’s e-commerce sales spiked 85% in the mainland.
Bulgari Boosts LVMH Jewelry, Watch Performance

LVMH Moët Hennessy Louis Vuitton’s watch and jewelry sales grew 14% in the first quarter as its Bulgari brand continued to gain market share. The luxury house reported double-digit growth across all its divisions, with watch and jewelry sales rising to $931.7 million from $820.4 million a year earlier. Comparable-store sales for the unit grew 11% at constant exchange rates. Its other businesses, including leather products, perfumes and wines, all posted strong increases.



Equity Firm Buys Major Stake in James Allen

Online diamond retailer James Allen has received a $140 million equity investment from Francisco Partners. The investment gives the private-equity firm a near-50% stake in the New York-based R2Net, which owns James Allen, valuing the e-commerce company at just under $300 million, Israeli newspaper Globes reported. The companies did not disclose the terms of the deal or how the money would be used, except to say the investment would accelerate James Allen’s rapid expansion.

MINING



Dominion Optimistic Despite Sales Decline

Dominion Diamond Corporation sales fell 21% to $571 million in the fiscal year that ended January 31, as the miner continues to undergo a strategic review that might result in the sale of the company. Dominion reported an operating loss of $56.6 million, compared to a profit of $8 million the previous year. However, management offered a positive view of its prospects for the next three years, driven by a ramp-up of high-value production at the Ekati mine. In March, Dominion rejected a $1.1 billion takeover bid from the Washington Companies, and subsequently formed a committee to review strategic alternatives.

Letšeng Mine Yields 114ct. Diamond

Gem Diamonds has found a 114-carat rough diamond at its Letšeng mine in Lesotho. The discovery of the D-color, type-II stone follows a drop in recovery of large diamonds at the mine, which yielded only five stones above 100 carats last year compared with 11 in 2015. Letšeng is considered one of the highest-value diamond mines by average price per carat, producing four of the 20 largest gem-quality white diamonds in history since Gem Diamonds acquired it in 2006.

Sales Steady at Lulo Diamond Mine

The latest rough diamond sale from Angola’s Lulo alluvial mine garnered $2.5 million, Lucapa Diamond Company reported. A parcel containing 1,919 carats of rough fetched an average of $1,317 per carat at the sale, which was Lulo’s third this year. So far, gross proceeds from Lulo for 2017 total $13.2 million at an average price of $2,055 per carat. The next sale will include a 92-carat, D-color diamond from the m Sierra Leone Delays 709ct. Rough Sale

The government of Sierra Leone has pushed back the schedule for selling a 709.41-carat rough diamond to give bidders more time to take part. Potential buyers can view the diamond until May 10 at the Bank of Sierra Leone in Freetown, with bids opening the following day. The process was previously scheduled to end on April 6. A local artisanal miner, Pastor Emmanuel A. Momoh, found the diamond last month in the Kono district, and the stone was presented to Sierra Leone’s president.

GENERAL

AGS Honors Former President Cathy Calhoun

The American Gem Society (AGS) has presented former head Cathy Calhoun (pictured, right) with its prestigious Robert M. Shipley Award for her service to the organization and the wider industry. Calhoun, of Calhoun Jewelers, served as AGS president between 2010 and 2012, overseeing its full takeover of AGS Laboratories. She serves on several boards, including that of the Jewelers Mutual Insurance Company. She received the award during the annual AGS Conclave in Hollywood, California.

Signet Opens Larger Non-Merchandise Warehouse
Signet Jewelers has expanded its facility for distributing non-merchandise items like jewelry boxes and other store supplies. The expansion adds 56,000 square feet to the Barberton, Ohio, center, bringing its total space to 134,000 square feet. The move consolidates all the non-merchandise supply needs of Signet’s approximately 3,000 US stores into one central location. Enlarging the warehouse has tripled its available inbound and outbound capacity and will enable the company to increase employment at the facility from 40 to 58 workers by year-end.

ECONWATCH



Diamond Industry Stock Report

Global markets ended the week relatively flat with investors waiting to see if the positive momentum from the first quarter will be maintained. Far East jewelers led the gains after Chow Tai Fook (+6.9%) reported positive retail sales growth for the first time in three years. Mining shares declined with Mountain Province (-32%) losing the most ground and continuing its volatility seen since the start of the year.

View the detailed industry stock report
Apr 13, 2017 (11:45 GMT) Apr 6, 2017 (12:58 GMT) Chng.
$1 = Euro 0.94 0.94 0.00
$1 = Rupee 64.44 64.55 -0.11
$1 = Israel Shekel 3.65 3.64 0.01
$1 = Rand 13.58 13.84 -0.26
$1 = Canadian Dollar 1.32 1.34 -0.02

Precious Metals Chng.
Gold $1,286.60 $1,253.12 $33.48 2.7%
Platinum $971.00 $954.75 $16.25 1.7%
Silver $18.46 $18.23 $0.23 1.3%

Stock Indexes Chng.
BSE 29,461.45 29,927.34 -465.89 -1.6%
Dow Jones 20,591.86 20,648.15 -56.29 -0.3%
FTSE 7,311.43 7,304.24 7.19 0.1%
Hang Seng 24,261.66 24,273.72 -12.06 0.0%
S&P 500 2,344.93 2,352.95 -8.02 -0.3%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Moderátor
Rapaport Weekly Market Comment
May 11, 2017


Dealers preparing for Las Vegas shows concerned that US orders have slowed as retailers reduce their inventory requirements. Chinese demand continues to improve. Rough trade strong with rising premiums on secondary market as De Beers limits supply at May sight. Stornoway 1Q sales of $36M ($77/ct.). Mountain Province 1Q sales $38M as Gahcho Kué average price ($72/ct.) disappoints. Hong Kong 1Q polished imports +11% to $4.7B, exports +6% to $3.4B. Israel 1Q polished exports +15% to $1.7B, rough imports +4% to $785M. Belgium April polished exports -13% to $779M, rough imports -43% to $694M. Antwerp’s Carat+ show demonstrates appetite for high-end, diamond-focused trade event.

Fancies: Steady demand for Pears in the Far East, with Ovals overtaking Pears as the strongest shape in the US. Shortages of fine-quality large Pears and Ovals. Cushions stable. Emeralds selling better than Princesses. Some demand for big fancy shapes, but buyers extremely picky. Improving demand for Radiant, 3.01 to 9.99 ct., D-I, SI1-SI2 elongated stones. Large price differentials between excellent- and average-cut fancies. Off-make, poorly cut fancies illiquid and very hard to sell, even at very deep discounts.

United States: Positive mood among large-stone dealers.Good demand for 5 ct., G-H, VS1-SI2 diamonds. VVS weak, but improvement seen in D, flawless among big stones. Steady demand for bread-and-butter 1 ct., G-H, VS-SI diamonds for the engagement ring market. Stable Mother’s Day jewelry retail sales.

Belgium: Sentiment improved during upbeat Antwerp Carat+ show. More independent European jewelers looking to source via programs. Steady demand for dossiers, 0.30 to 1 ct., G-I, VS1-SI1 and GIA-certified 1 ct.-plus, G-H, VS-SI diamonds. Dealers seeing better prices and profit from polished sourced in secondary market than direct supply from manufacturers. Rough trading strong.

Israel: Polished trading stable, with rising expectations for Las Vegas shows. US cautious as demand for I1 goods has softened. China working well. Good demand for 0.30 ct., D-J, VVS-SI diamonds and steady demand for 1 ct., I-K, SI goods. Bourse expanding partnerships with online retail platforms.

India: Market relatively slow, with pockets of good demand for select categories such as 0.50 to 0.90 ct., SIs. Some dealers on vacation during May school holiday period. Foreign buyers looking for stock ahead of Las Vegas, while suppliers keeping prices steady before the show. Polished inventory levels rising as large manufacturers boost production. Strong rough demand continues.

Hong Kong: Wholesale market stable, with many dealers still on vacation. Positive sentiment due to improvement in Chinese retail, but consumers shifting to lower price points. Steady dealer demand for 0.50 to 1 ct., D-H, VS-SI diamonds. Rising consumer interest in color diamonds and gemstones, especially sizes above 2 ct. Major jewelers exploring growth potential on e-commerce and mobile platforms.
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Moderátor
Rapaport Weekly Market Comment
May 18, 2017 11:00 AM By Rapaport News


Positive sentiment despite lackluster May trading. Rising expectations for JCK Las Vegas with some concern the show’s weekday schedule will limit retailers’ attendance. Suppliers trying to protect polished profit margins after rough prices rose 1% to 2% at last week’s $520M De Beers sight. Graff buys 373.72 ct., D, type IIa rough for $17.5M ($46,935/ct.). Sotheby’s Geneva sells $151.5M (90% by lot) as pear-shape, 14.54 ct., fancy vivid blue, IF diamond fetches $42.1M ($2.9M/ct.) and matching pear, 16 ct., fancy intense pink, VVS2 diamond sells for $15.3M ($959,636/ct.). Christie’s Geneva garners $95M with heart-shape, 92.15 ct., D, FL diamond selling for $15M ($162,611/ct.).

Fancies: Steady demand for Pears in the Far East, with Ovals overtaking Pears as the strongest shape in the US. Shortages of fine-quality large Pears and Ovals. Cushions stable. Emeralds selling better than Princesses. Some demand for big fancy shapes, but buyers extremely picky. Improving demand for Radiant, 3.01 to 9.99 ct., D-I, SI1-SI2 elongated stones. Large price differentials between excellent- and average-cut fancies. Off-make, poorly cut fancies illiquid and very hard to sell, even at very deep discounts.

United States: New York trading stable. Sentiment improved as demand picked up in March and April after a slow start to the year. Dealers preparing for Las Vegas shows, looking to assess retail mood ahead of 2017 holiday season. Scarcity of nice-make, marketable diamonds (RapSpec A2). Steady melee demand. Retail jewelry market stable, with online sales compensating for slowdown among segments of independent jewelers.

Belgium: Polished trading slow. Buyers concentrating on narrow selection of goods they know they can sell. Shortage of better-quality RapSpec A2 diamonds. Steady demand for 0.30 to 0.50 ct., D-H, VS-SI diamonds and improving demand for larger sizes above 3 ct. SI’s selling in all sizes. Positive sentiment in the rough market with strong trading after De Beers sight.

Israel: Polished market stable. Dealers optimistic about Las Vegas shows. Suppliers shifting to niche products like color diamonds and fancy shapes in search of better margins. Steady demand and low availability for 0.70 ct., 1 ct., and 1.50 ct., J, SI1 diamonds. Good demand and strong prices for oversize 1.40 ct. and 1.80 ct. diamonds. Oval, 1 to 3.99 ct., F-I, VS2-SI2 strongest item among fancies.

India: Suppliers preparing for Las Vegas shows. Some companies sending fewer personnel as they expect lower retail visitor traffic. A few large diamond manufacturers presenting jewelry lines in Vegas. Good demand for SI’s in all sizes, with Chinese jewelers shifting to lower clarities. Rough trading steady after De Beers limited supply to $520M at May sight. Polished production continues to rise.

Hong Kong: Polished trading slow, but dealers expect stronger activity in June, with improvement in Chinese demand and retail jewelry sales. Good demand for 0.30 to 1 ct., F-M, VS-SI diamonds. Rising interest in color diamonds and gemstones. Slow traffic reported at Shanghai International Jewellery Exhibition (May 10 to 15).
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Moderátor
Rapaport Diamond Industry Stock Tracker
Retail & Mining Shares
Jun 1, 2017 10:58 AM By Rapaport News


Signet Jewelers (-12%) suffered its second consecutive weekly decline following disappointing quarterly sales. US retail stocks were otherwise mixed, with Movado Group (-5.8%) down following a drop in revenue and Birks Group (+11%) gaining value. In India, Renaissance Jewellery (+19%) benefited from strong financial results, while other jewelry stocks were mixed. Mining stocks generally had a sluggish week, with Petra Diamonds (-5.4%) and Anglo American (-4%) both lower.

June 1, 2017 (10:57 GMT) May 25, 2017 (13:03 GMT) Chng.
$1 = Euro 0.89 0.89 0.00
$1 = Rupee 64.54 64.55 -0.01
$1 = Israel Shekel 3.55 3.58 -0.03
$1 = Rand 13.04 12.90 0.14
$1 = Canadian Dollar 1.35 1.34 0.01

Precious Metals Chng.
Gold $1,266.47 $1,255.00 $11.47 0.9%
Platinum $942.75 $950.60 -$7.85 -0.8%
Silver $17.16 $17.20 -$0.04 -0.2%

Stock Indexes Chng.
BSE 31,137.59 30,750.03 387.56 1.3%
Dow Jones 21,008.65 21,012.42 -3.77 0.0%
FTSE 7,551.86 7,509.49 42.37 0.6%
Hang Seng 25,809.22 25,630.78 178.44 0.7%
S&P 500 2,411.80 2,404.39 7.41 0.3%

USA
Birks Group $1.43 $1.29 $0.14 11.3%
Charles & Colvard $0.88 $0.89 -$0.01 -0.6%
JCPenney $4.70 $4.65 $0.05 1.1%
Kohl's $38.43 $37.93 $0.50 1.3%
Macy's $23.50 $23.18 $0.32 1.4%
Movado Group $21.10 $22.40 -$1.30 -5.8%
Nordstrom $41.80 $41.29 $0.51 1.2%
Signet $48.10 $54.53 -$6.43 -11.8%
Sotheby's $52.59 $52.52 $0.07 0.1%
Tiffany $86.96 $85.03 $1.93 2.3%
Walmart $78.60 $78.15 $0.45 0.6%

Far East
Chow Sang Sang (HKD) 18.02 18.00 0.02 0.1%
Chow Tai Fook (HKD) 8.26 8.04 0.22 2.7%
Luk Fook (HKD) 26.50 25.70 0.80 3.1%
Sarine (SGD) 1.72 1.73 -0.01 -0.9%
ValueMax Group 0.28 0.28 -0.01 -1.8%

Europe
Damiani €1.21 €1.19 €0.02 1.9%
LVMH €228.75 €228.30 €0.45 0.2%
Kering €295.95 €294.05 €1.90 0.6%
Richemont CHF 81.15 CHF 80.90 €0.25 0.3%
Swatch Group CHF 379.00 CHF 386.00 -€7.00 -1.8%

INDIA (rupee)
Gitanjali Gems 67.05 61.85 5.20 8.4%
Goenka Diamond 0.70 0.75 -0.05 -6.7%
Goldiam Intl. 84.35 84.00 0.35 0.4%
Lypsa Gems 61.90 63.00 -1.10 -1.7%
Rajesh Exports 651.65 646.90 4.75 0.7%
Ren. Jewellery 189.90 159.85 30.05 18.8%
Titan 470.75 464.40 6.35 1.4%
Vaibhav 519.30 512.50 6.80 1.3%

AUSTRALIA
Michael Hill AUD 1.17 AUD 1.17 AUD 0.00 -0.4%

MINING STOCKS
ALROSA RUB 87.99 RUB 90.01 -RUB 2.02 -2.2%
Dominion Diamond CAD 17.41 CAD 17.41 CAD 0.00 0.0%
Kennady Diamonds CAD 3.25 CAD 3.40 -CAD 0.15 -4.4%
Lucara Diamond CAD 3.00 CAD 2.95 CAD 0.05 1.7%
Mountain Province CAD 6.66 CAD 6.66 CAD 0.00 0.0%
Peregrine Diamonds CAD 0.19 CAD 0.20 -CAD 0.02 -7.5%
Rockwell Diamonds CAD 0.06 CAD 0.06 CAD 0.00 0.0%
Shore Gold CAD 0.30 CAD 0.24 CAD 0.06 25.0%
Stornoway Diamond CAD 0.82 CAD 0.81 CAD 0.01 1.2%
UK (pence)
Anglo American 1,019.00 1,061.00 -42.0 -4.0%
Firestone Diamonds 45.40 46.00 -0.6 -1.3%
Gem Diamonds 90.25 90.00 0.3 0.3%
Gemfields 33.86 33.82 0.0 0.1%
Petra Diamonds 126.00 133.20 -7.2 -5.4%
Rio Tinto plc 3,118.50 3,166.50 -48.0 -1.5%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Moderátor
RAPAPORT PRESS RELEASE, October 15, 2017, New York… The Government of Sierra Leone is pleased to announce the appointment of the Rapaport Group as the marketing and sales agent of the Peace Diamond. This 709-carat diamond, discovered by diamond diggers in the village of Koryardu, is the third-largest diamond ever found in Sierra Leone and the 14th-largest worldwide. The Peace Diamond is special because it is a development diamond. Over 50% of its sale value will directly benefit the community where the diamond was discovered and the people of Sierra Leone.

An international online press conference for the Peace Diamond will be held on Tuesday, October 17 at 2 p.m. Freetown time (GMT), 10 a.m. New York time (EST). Additional information will be provided including the viewing schedule, auction date, videos and images. To participate in the press conference or to request a viewing of the diamond please email PeaceDiamond@Diamonds.Net.

“The Peace Diamond will greatly improve the lives of our people as it will bring clean water, electricity, schools, medical facilities, bridges and roads to our villages and the Kono District. This diamond represents our hope for a better future as the resources of Sierra Leone fund growth, development and jobs,” said Pastor Emmanuel Momoh, the owner of the diamond.

“I thank the local chief and his people for not smuggling the diamond out of the country, and the owners should get what is due to them and it should also benefit the country as a whole. The Government remains committed to ensuring a transparent and competitive auction process that will ensure fair market value for Sierra Leone’s diamonds,” said Dr. Ernest Bai Koroma, President of Sierra Leone. “We call on the worldwide diamond industry to bid generously for the Peace Diamond as it will bring vital infrastructure and benefit to thousands of Sierra Leone’s artisanal diggers.”

“I believe in the positive energy of the Peace Diamond and the great good it will do for the people of Sierra Leone. The lucky buyers of the Peace Diamond and the resultant polished Peace Diamonds can take pride in knowing that they have created a better life for tens of thousands of people. This is a diamond that makes the world a better place. This is a diamond with spiritual sparkle,” said Martin Rapaport, Chairman of the Rapaport Group.

Rapaport Media Contacts: PeaceDiamond@diamonds.net
U.S. Office: Sherri Hendricks +1-702-216-1041
International: Gabriella Laster +1-718-521-4976

About the Rapaport Group: The Rapaport Group is an international network of companies providing added-value services that support the development of ethical, transparent, competitive and efficient diamond and jewelry markets. Established in 1976, the Group has more than 20,000 clients in over 121 countries. Group activities include Rapaport Information Services, providing the Rapaport benchmark Price List for diamonds, as well as research, analysis and news; RapNet – the world’s largest diamond trading network, with over 15,000 members in 95 countries and daily listings of over 1.4 million carats valued at over $8 billion; Rapaport Laboratory Services, providing GIA and Rapaport gemological services in India, Israel and Belgium; and Rapaport Trading and Auction Services, the world’s largest recycler of diamonds, selling over 500,000 carats of diamonds a year. Additional information is available at www.Diamonds.Net.

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Almas Diamond Services založila továreň s investíciou 1,8 milióna dolárov, ktorú financuje Nemesis International, miestny predajca. Zariadenie sa zameria na kamene nad 25 000 dolárov za karát.

Medzi prvými z nich bude 813 karátový diamant Constellation, ktorý spoločnosť Nemesis kúpila v spolupráci so švajčiarskym klenotníkom Grisogonom v roku 2016 za 63,1 milióna dolárov.

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Rapaport Weekly Market Comment

Oct 19, 2017 11:00 AM By Rapaport News


Trading quiet due to Jewish and Indian holidays. Industry hoping stock-market wealth will boost holiday luxury spending, as Dow hits new high above 23,000. Jewelers’ holiday orders reflect lower retail inventory requirements. Bankers at Dubai conference warn of rising lending costs, inflated polished supply and excess funding. Rough trading slow with reduced premiums, as Indian factories close for Diwali. De Beers Oct. sale -25% to $370M. Chow Tai Fook 2Q China sales +15%. Ahmed bin Sulayem to replace Peter Meeus as Dubai Diamond Exchange chairman. Rapaport Group to auction 709ct. Peace Diamond in New York on Dec. 4. Rapaport wishes all our friends a happy, enlightening Diwali.

Fancies: Ovals selling well in US. Pears and Cushions steady. Squares soft, with declining interest in Princesses. US demand supporting market for commercial-quality, medium-priced fancies under 1 ct. Selective buyers of large, fine-quality fancy shapes facing limited supply. Far East demand improving as consumers seek fancy shapes at better prices. Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts.

United States: Activity mixed as dealers return from Jewish holiday vacation. Larger companies receiving steady orders, but smaller wholesalers and dealers struggling to match last year’s sales. Steady demand for VS-SI goods. IF-VVS clarities weaker. Expectations rising for holiday season among jewelers with improved omni-channel offerings.

Belgium: Polished and rough trading relatively quiet with Indian dealers on Diwali vacation. Steady US demand as jewelers prepare for holiday season. Chinese orders improving. Steady demand for commercial-quality goods above 3 carats. Dealers stuck with large polished inventory, but note shortage of top-quality SI’s. Rough market quiet over Diwali.

Israel: Market quiet as traders return to first full week of activity after nearly a month of Jewish holidays. Sentiment weak due to low profitability and rising inventory levels. Steady demand for large rough diamonds as Israel strengthens its position in big-stone niche. US orders steady, with high volume of commercial-quality goods sent on memo.

India: Market shut down for Diwali festival that began Oct. 19. Dealers expected to return Nov. 6, manufacturers on Nov. 13. Weak demand and growing inventories putting prices under pressure. Rough demand slow as factories head to Diwali with high polished inventory. Lower gold price expected to boost Diwali jewelry sales.

Hong Kong: Dealer market quiet with Indian buyers absent during Diwali. Steady demand for 1-carat, F-H, VS-SI2 (3VG to 3X) goods. Market focused on SI-I1 stones. Retailers encouraged by Oct 1. Golden Week sales and ongoing wedding season. Tourist arrivals stable during busy holiday period. Chow Tai Fook reports strong growth (+104%) in second-quarter e-commerce sales.
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Jménem senioru a drobného lidu zde na Sběrateli zastoupených děkuji za nejnovější info. Jsem vždy nervosní a čekám na novinky či stabilitu. :roll:
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a dlouho nic, že?
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Altmann napsal
Jménem senioru a drobného lidu zde na Sběrateli zastoupených děkuji za nejnovější info. Jsem vždy nervosní a čekám na novinky či stabilitu. :roll:

Už dlho sledujem a v nemom úžase obdivujem hrdinstvo kolegu Grofika, ktorý aj napriek pár neprajníkom nepoľavuje vo svojom úsilí a naďalej so železnou pravidelnosťou zverejňuje na stránkach sberatel.com Rapaport, za ktorý sme mu my všetci úprimne vďační.

Naopak komentáre neprajníka a spiatočníka Altmanna ma vedia priviesť k úprimným slzám - zo smiechu. :lol:
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no právě ta pravidelnost... si vzal prázdniny nebo co... jsem byl úplně bez informací, bezradný...
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Zariaďovanie dielničky a obojstranný zápal pľúc zapríčinil výpadok v informáciách. :mrgreen:
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Alrosa Sales Hit by Weak Rough Demand

Miner Allows 50% Rejections in August and September


RAPAPORT... Alrosa’s sales fell in the third quarter as the rough-diamond market slowed ahead of the Diwali festival.

The company reported rough sales of $848 million during the period, which was 13% lower than a year ago, according to Rapaport records. The decline reflected a drop in rough demand experienced during the summer.

Amid the slowdown, Alrosa permitted clients to reject up to 50% of their allocations by volume at the August and September contract sales, in contrast to the usual 30% allowance, market sources said. Clients’ actual rejection rate was at normal levels, an Alrosa spokesperson said.

Meanwhile, the average price achieved from Alrosa’s sales declined 3% year on year to $114 per carat, according to Rapaport calculations. The company’s average price achieved in 2017 has been lower due to higher-than-usual sales of lower-quality goods.

“Alrosa’s revenue results in 2017 were impacted by sales of additional volumes of small goods with a low price, which remained unclaimed in the Indian market last year but were in demand in [the first half of 2017],” the spokesperson explained.

Consequently, sales in the first nine months of the year declined 6% to approximately $3.3 billion, Alrosa reported. The volume of sales increased 6% to 31.8 million carats, slightly above the company’s production for the period.

Group output grew 6% to 29.5 million carats in the nine months, mainly due to increased mining at alluvial deposits and certain key assets, including Udachny and Karpinskogo, explained Igor Sobolev, Alrosa’s first vice president. Production in the third quarter decreased 6% to 10.3 million, largely attributable to a 20% decline in the Mirny division, where a major flood caused a shutdown of the mine in early August.

The miner reaffirmed its production outlook for the year, projecting an increase of 5% to 39.3 million carats, and maintained a positive outlook for the fourth quarter.

“The third quarter and beginning of autumn is traditionally a period of low activity on the market,” the spokesperson said. “However, retail sales continue to show good results, which gives reason to expect an improvement in market activity in preparation for the winter holiday season.”
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Rapaport Weekly Market Comment

Oct 26, 2017 11:00 AM By Rapaport News


Polished trading improves in Belgium, Israel & Hong Kong as India shuts down for Diwali. US holiday orders driving sales, with buyers pushing for deeper discounts. Polished inventory high, but shortages of select RapSpec A3+ SIs. Rough market slow with Indian factories closed. Alrosa 3Q sales volume -10% to 7.5M cts, production -6% to 10.3M cts. De Beers 3Q sales volume +21% to 6.9M cts, production +46% to 9.2M cts. Petra Diamonds 1Q sales -17% to $79M. Luk Fook 2Q same-store sales +17%, gem-set jewelry +16%. Signet Jewelers completes $960M sale of prime credit program. J.C. Penney rebrands jewelry unit with lower-priced smartwatches and bridal line for millennials.

Fancies: Ovals selling well in US. Pears and Cushions steady. Squares soft, with declining interest in Princesses. US demand supporting market for commercial-quality, medium-priced fancies under 1 ct. Selective buyers of large, fine-quality fancy shapes facing limited supply. Far East demand improving as consumers seek fancy shapes at better prices. Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts.

United States: Sentiment weak. Dealers’ margins squeezed as polished prices have softened. Steady demand for 1 to 2 ct., G-H, VS2-I1 diamonds. Improved trading in large stones above 5 ct., which offer better margins than smaller commercial diamonds. Buyers looking for goods at deeper discounts. Retailers preparing for holiday season.

Belgium: Polished trading increases after seasonal third-quarter slowdown. Indian dealers on Diwali vacation.Steady demand for 1 to 1.50 ct., F-I, VS-SI, RapSpec A3+ diamonds. Dossiers slow. Rough trading quiet with concern over high polished inventory levels.

Israel: Activity improving after Jewish holiday break. Sentiment relatively positive, despite rumored bankruptcies. Steady demand for 1 ct., G-H, VS-SI, RapSpec A3+ diamonds, driven by US holiday orders. Large volume of goods out on memo. Rough market stable with rise in large-stone activity in Ramat Gan.

India: Market quiet with most businesses still closed for Diwali. Trading expected to resume next week (October 30), while Surat factories to remain closed until mid-November. Manufacturers hoping shutdown will help rebalance inventory levels. Strong diamond-jewelry sales compensated for weak gold sales during Diwali, according to Economic Times report.

Hong Kong: Sentiment rising as jewelers prepare for Christmas and Chinese New Year seasons. Retailers gaining confidence and resuming store expansion in China. Dealers focused on 0.30 to 1 ct., D-H, VS-SI, RapSpec A2+ diamonds. Online retailers starting early 11/11 Singles’ Day promotions.
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Unikátne veľkosti diamantov vyťažené z bane Letšeng. :shock:

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NOVEMBER 2, 2017
RAPAPORT MARKET COMMENT


Polished prices relatively stable with 1 ct. RAPI -0.2% in Oct. Shortages of select fine-cut diamonds helping stabilize the market, with improvement in US memo demand as holiday season approaches. Jewelers optimistic as stock-market rally expected to boost consumer spending. Inventory purchases limited, with most relying on memo. Polished supply projected to rise after Diwali break, as 3Q rough mining production reaches decade high of 26.4M cts. from top 4 miners. Hong Kong’s Tse Sui Luen 1H sales +12% to $222M. Tiffany opens New York pop-up stores in time for holiday season. Rapaport to host New York viewing of Alrosa Dynasty Collection on Nov. 8-17. Alrosa auction on Nov. 29.
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veľkosti diamantov vyťažené z bane Letšeng. :shock:

To je vitrínka v obývačke ? :shock:
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Nie celkom , škoda ani hosťovská to nie je moja... ;)
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