Sběratel.com

Diskusní fórum o sběratelství

Sběratel.com » Minerály » Týždenný prehľad zaujímavostí vo svete diamantov .

Vykupminci.cz
Numisargo

Týždenný prehľad zaujímavostí vo svete diamantov .

Moderátoři: Koniáš, smith.

Nové téma Další příspěvek

Stránka: « < ... 13 14 15 16 17 18 19 20 21 ... > »

Autor Příspěvek
Registrovaný uživatel
Rapaport Weekly Market Comment December 24, 2015


Trading centers quiet due to holidays. Dealers filling last-minute orders with very limited inventory buying due to uncertainty about post-U.S. holiday season and Chinese New Year. U.S. retail sales steady but store traffic slower than previous years. Millennials changing buying patterns with comScore reporting 50-60% jump in mobile sales. U.S. Nov. jewelry sales +3%. Manufacturers anticipate 5-10% rough price decline with improvement in quality hiding some of the price drop. Miners end 2015 with very large inventory. ALROSA in talks with Gokhran, expects 2016 sales of $3.5B, production +3% to 39M cts. India Nov. polished exports -15% to $1.3B, rough imports -60% to $625M. The Rapaport Price List will not be published next week. We wish everyone a happy, healthy, ‎prosperous and peaceful New Year.


RapNet Data: December 24

Diamonds 1,084,923
Value $7,909,601,547
Carats 1,223,953
Average Discount -28.17%

www.rapnet.com


The RapNet Diamond Index (RAPI) is the average price for the top 25 diamond qualities (D-H, IF-VS2). It is based on the 10 best priced diamonds for each quality.

Get Current Price List | Subscribe to Rapaport | Join RapNet

RAPAPORT ANNOUNCEMENTS
January 7-11 Thu-Mon
Rapaport Rough Auction

Surat, India

View Details

January 12-20 Tue-Wed

Rapaport Melee Auction

New York & Dubai

View Details
January 13-20 Wed-Wed
Rapaport Single Stone Auction

New York & Israel

View Details


RapNet is Fully Mobile
App now available on iOS and Android.
Download
QUOTE OF THE WEEK
By establishing the Special Notified Zone in India, the ready availability of rough diamonds in India through the India Diamond Trading Centre will make a huge difference as the manufacturers won’t have to travel across the world to procure diamonds.

Gem & Jewellery Export Promotion Council chairman Praveenshankar Pandya at the launch of the IDTC in Mumbai on December 20

MARKETS

United States: Positive mood as wholesalers close for the holiday season. Diamond dealers focused on filling last-minute orders and finding it difficult to increase prices and improve margins....

Belgium: Trading activity quiet with bourses closed for a two-week Christmas / New Year break. Some dealers looking for deals and filling last-minute orders...

Hong Kong: Polished trading stable with dealers filling Christmas orders and some Chinese New Year demand. Good demand for 0.30-0.40ct., D-J, VS-SI GIA-dossiers with notable shortages in the market...

India: Polished trading steady with some U.S. orders. Far East demand better but cautious. Sentiment improved as prices firmed since Diwali due to shortages, particularly for RapSpec A2 (3X, none) 0.30-0.49ct., D-J, VS-SI diamonds...

Israel: Polished market stable. Steady U.S. orders. Slight improvement in Far East demand. Prices firm due to shortages rather than significant increase in demand and transactions...

Click here to continue reading

INSIGHTS

Diamond Story of the Year: Return of Generic Advertising

Star Wars was not the only force making a come-back in 2015. The return of generic advertising brought with it a promise of increased profitability for the diamond trade...

Click here to continue reading
INDUSTRY

India’s Polished Exports -15%

India’s polished diamond exports declined 15% to $1.32 billion year-on-year in November, according to provisional data from the Gem & Jewellery Export Promotion Council. By volume, polished exports fell 16% to 2.2 million carats. Polished imports nosedived 72% to $147.4 million, leaving net exports – polished exports minus imports – 14% higher at $1.17 billion.

Rough diamond imports plummeted 60% to $624.9 million and rough exports slumped 34% to $62.1 million, leaving net imports – rough imports minus exports – 61% lower at $562.8 million. India’s net diamond account, which is calculated as the difference between net polished exports and net rough imports, increased from negative $422 million in November 2014 to positive $612.1 million this year.

India Opens First Special Notified Zone for Rough Trading

The Gem & Jewellery Export Promotion Council (GJEPC) and Bharat Diamond Bourse (BDB) opened the India Diamond Trading Centre (IDTC) in Mumbai, India’s first Special Notified Zone (SNZ) for rough diamond trading, on December 20.

Nirmala Sitharaman, India’s Minister of State (Independent Charge) for Commerce and Industry, inaugurated the facility at a ceremony attended by state lawmaker Ashish Shelar and Mumbai’s deputy mayor Alka Kelkar, as well as executives from Rio Tinto Diamonds, ALROSA and De Beers.

Ahmed Bin Sulayem Appointed UAE’s KP Chair

The United Arab Emirates’ (UAE) Ministry of Economy has selected Ahmed Bin Sulayem, chairman of the Dubai Multi Commodities Centre, as the country’s chair of the Kimberley Process (KP) for 2016.

Sulayem will be responsible for official duties in 2016 and implementing new initiatives in line with the KP’s aims and objectives. The UAE was appointed as KP chair in November.

India Keeps Spotlight on Synthetic Detection

India’s Gem & Jewellery Export Promotion Council (GJEPC) will establish a Natural Diamond Monitoring Committee (NDMC) in Surat following the success of its counterpart in Mumbai, chairman Praveenshankar Pandya said.

The Indian gem and jewelry industry is also working to ensure businesses can install detection machines in their offices, Bharat Diamond Bourse (BDB) president Anoop Mehta said.

The news follows the conclusion of the Diamond Detection Expo and Symposium, organized by the GJEPC and BDB, which ran December 15 to 16 in Mumbai. The BDB banned trading in synthetics on the exchange’s premises earlier this year following a members’ vote.

RETAIL & WHOLESALE
Holiday Mobile Sales Soar

Mobile sales this holiday season have surged 50% to 60% over last year’s season, according to data analytics group comScore.

Amazon has had the strongest season for mobile sales, according to Gian Fulgoni, executive chairman and co-founder of comScore, while multi-channel retailers such as Target and Walmart were early adapters of this trend toward mobility.

Amazon received almost as many website visits as the next three retailers put together – at least 4.8 billion, compared with a combined 4.9 billion for eBay, Walmart and Target.

Swiss Watch Exports -6%

Swiss watch exports fell 6% year-on-year to $1.97 billion (CHF 1.95 billion) in November as outbound shipments to Hong Kong slumped, according to figures provided by the Federation of the Swiss Watch Industry. The total value failed to exceed $2.03 billion (CHF 2 billion) in November for the first time in five years. By volume, the drop was 3.8% to 2.4 million watches.

Exports to Hong Kong dived 28% to $250.7 million. Exports to the U.S. slipped 5% to $240.5 million. Exports to the U.K. surged 14% to $122.6 million, while Japan grew 9% to $120.1 million. China advanced 17%.

Luk Fook Opens Toronto Store

Luk Fook Holdings (International) Ltd opened its largest retail store outside mainland China, Hong Kong and Macau, choosing a new location in Greater Toronto.

The store at Markville Shopping Centre in Markham, on the edge of the Canadian city, is the company’s second in the country. Its other shop is near Vancouver.


GJF Criticizes New PAN Card Rules

The All India Gems & Jewellery Trade Federation (GJF) criticized new rules that slashed a threshold above which a customer must show their Permanent Account Number (PAN) by 60%.

New rules make the disclosure mandatory in jewelry purchases above the rupee equivalent of $3,026 (INR 200,000), compared with a previous limit of $7,564 (INR 500,000), according to a GJF statement.

“This is not practical and will discriminate against 70% of the rural buyers, including farmers, as they are not under the tax net and do not have PAN cards,” GJF chairman G. V. Sreedhar said.

Carl F. Bucherer Opens Dubai Boutique

Swiss watchmaker Carl F. Bucherer opened a boutique at The Dubai Mall this month.

Guests at the inauguration were the company’s chief executive officer Sascha Moeri and two representatives of Dubai watch retailer Rivoli Group: CEO Ramesh Prabhakar and COO Abraham Koshy.

“The Middle East is moving forward with Dubai being the key entrance into the market,” Moeri said.

MINING
Dominion Reportedly Exploring Sale

Dominion Diamond Corp. hired financial advisers to explore the potential for a sale, Bloomberg reported, citing people familiar with the matter. The news comes amid pressure on the Canadian miner from shareholders over the company’s plummeting share price.

Dominion confirmed it retained Rothschild & Co earlier this year “to assist the company and its board of directors in considering a number of possible initiatives to maximize shareholder value,” but said there can be no assurance that any deal will result.

Toronto-based hedge fund K2 & Associates Investment Management, which leads a shareholder group that together owns 5.4% of Dominion’s stock, claimed December 21 the miner’s share price has suffered from “misguided policies and missed opportunities.” Shares have dived 45% this year, the Bloomberg report said and added the stock climbed on Tuesday.

Dominion also announced December 24 that two directors had resigned from the company’s board “for personal reasons.”

ALROSA Expects 2016 Sales of $3.5B

ALROSA expects to sell $3.5 billion of diamonds in 2016 as growth in demand for precious stones remains minimal, the Russian miner guided. The company forecast production will rise 2.6% to 39 million carats next year.

Separately, ALROSA is discussing a deal with Gokhran, Russia’s state repository, to sell it rough diamonds, Interfax reported December 22, citing Russia’s Deputy Prime Minister Yuri Trutnev.

Botswana Diamonds Raises $813K

Botswana Diamonds raised $813,099 (GBP 545,316) through an issue of 64.2 million shares to finance exploration activities in Botswana and provide additional working capital.

The diamond exploration group raised $683,882 through a private placement of 54 million new shares. The company has settled a further $129,217 of existing liabilities with certain directors through a conditional issue of 10.2 million new shares.

Gemfields Sells Rough Rubies for $318/ct

Gemfields plc reported revenue of $28.8 million from an auction of higher- and medium-quality rough rubies from the Montepuez ruby deposit in Mozambique.

The company achieved an average price of $318 per carat, selling 90,642 out of 92,136 carats, or 45 out of 49 lots. It sold 98% by weight and 95% by market value. The stones were extracted by subsidiary Montepuez Ruby Mining Limitada.

Some 36 companies participated in the bid, which took place in Singapore from December 14 to 18.

Diamcor Achieves $150/ct Average Price

Diamcor Mining sold 2,404 carats at an average price of $150 per carat at its second tender of rough diamonds in the third quarter from its Krone-Endora at Venetia project in South Africa. The miner got $360,016 in revenues from the sale.

Combined sales in the quarter surged 95% to 9,469 carats. Revenue soared 78% to an estimated $1.2 million compared with sales in the previous period. The average price per carat slipped 9% to $127, compared with $140 in the second quarter, in line with the company’s expectations off the back of market conditions.


ALROSA Recovers 105.6-Carat Gem

ALROSA recovered a 105.6-carat diamond from its Jubilee kimberlite pipe. The gem is a transparent octahedral with a moderate yellowish hue and small olivine, graphite and sulphide inclusions.

The Russian miner’s Aikhal Mining and Processing Division at processing plant no.14 extracted the diamond.

GENERAL

Anglo American Donates to DDI

The charitable arm of De Beers parent company Anglo American plc has made a three-year contribution to the Diamond Development Initiative International (DDI), which promotes responsible sourcing and improves the lives of artisanal diamond miners and their families in Africa.

The funding from Anglo American Group Foundation enables the DDI to carry out its principle functions, including the registration of artisanal miners, implementation of the Development Diamond Standards at mining sites and development support for communities in need such as clean water and education.

ECONWATCH
Diamond Industry Stock Report

Mining stocks were generally strong this week, led by Kennedy Diamonds (+28%) on news of a positive sample grade from its Kelvin mine. Dominion Diamond Corp. jumped 21 percent on reports of a potential takeover. Other risers were Gem Diamonds (+24%), Petra Diamonds (+23%), Rockwell Diamonds (+18%) and Peregrine Diamonds (+17%). As the holiday shopping season closes, U.S. retail stocks changed little, except Birks Group (-6.6%) and Nordstrom (-4.7%). India’s Gitanjali Gems rose 14%.

View the detailed industry stock report.
Dec. 24 (10:00 GMT) Dec. 17 (10:10 GMT) Chng.
$1 = Euro 0.91 0.92 -0.008
$1 = Rupee 66.07 66.44 -0.4
$1 = Israel Shekel 3.90 3.89 0.01
$1 = Rand 15.23 14.94 0.28
$1 = Canadian Dollar 1.39 1.38 0.00

Precious Metals Chng.
Gold $1,073.90 $1,067.50 $6.40 0.6%
Platinum $875.75 $863.75 $12.00 1.4%
Silver $14.34 $14.11 $0.23 1.6%

Stock Indexes Chng.
BSE 25,842.44 25,803.78 38.66 0.1%
Dow Jones 17,602.61 17,749.09 -146.48 -0.8%
FTSE 6,249.53 6,147.22 102.31 1.7%
Hang Seng 22,138.13 21,872.06 266.07 1.2%
S&P 500 2,064.29 2,073.07 -8.78 -0.4%
Yahoo! Jewelry 1,007.05 999.35 7.70 0.8%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment December 31, 2015


U.S. consumer confidence improves with overall holiday retail sales +7.9%, according to MasterCard SpendingPulse. Mobile and online sales soar. Diamond trade cautious about the Chinese New Year as China-Hong Kong jewelry sales slowed in 2015. RAPI for 1ct. diamonds +1.5% in December as difficult year ends on a positive note. Polished prices supported by shortages rather than rise in demand. Dealers more optimistic but profit concerns continue into 2016. Cutters not willing to raise polished production at current rough prices. The Rapaport Price List is not being published this week (Jan. 1). The Rapaport Group wishes everyone a happy, healthy, ‎prosperous and peaceful New Year.‎


RapNet Data: December 30

Diamonds 1,043,455
Value $7,546,193,201
Carats 1,186,710
Average Discount -28.37%

www.rapnet.com


The RapNet Diamond Index (RAPI) is the average price for the top 25 diamond qualities (D-H, IF-VS2). It is based on the 10 best priced diamonds for each quality.

Get Current Price List | Subscribe to Rapaport | Join RapNet
RAPAPORT ANNOUNCEMENTS
January 7-11 Thu-Mon
Rapaport Rough Tender

Surat, India

View Details January 12-20 Tue-Wed
Rapaport Melee Auction

New York & Dubai

View Details
January 13-20 Wed-Wed
Rapaport Single Stone Auction

New York & Israel

View Details
RapNet is Fully Mobile
App now available on iOS and Android.
Download

MARKETS

United States: Polished trading quiet as wholesalers and dealers took vacation between Christmas and New Year. Sentiment improving amid reports of a positive holiday shopping season and some orders for Valentine’s Day...

Belgium: Polished and rough trading very quiet with most dealers on vacation during the Christmas to New Year period. Antwerp bourses are closed until January 4...

Hong Kong: Polished market quiet over Christmas-New Year with many dealers on vacation. Some trading activity to fill orders from Mainland China for the Chinese New Year (Feb. 8)...

India: Positive sentiment in the market. Prices firm due to shortages in RapSpec A2 (3X, none) diamonds while holiday demand was okay. Good U.S. demand for 1ct., G-J, SI2-I2 diamonds...

Israel: Polished trading stable and sentiment continues to improve. Steady demand with shortages supporting prices for RapSpec A2 (3X, none) 0.30-0.90ct., D-J, VS-SI and 1ct., G-J, SI-I2 diamonds...

Click here to continue reading
HAPPY NEW YEAR

INDUSTRY
UAE Pact to Supervise Rough Trade

The Ministry of Economy of the United Arab Emirates (UAE) and the Dubai Multi-Commodities Centre (DMCC) have agreed to enhance coordination so that the supervision of the country’s rough diamond trade will be in line with the Kimberley Process (KP) Certification Scheme.

The memorandum of understanding comes as the UAE is about to take chairmanship of the KP on January 1, 2016.

Lazare Kaplan Subject to SEC Action

The Securities and Exchange Commission (SEC) has filed administrative proceedings against Lazare Kaplan International Inc. alleging the New York diamond manufacturing firm failed to submit periodic reports since February 2009.

The SEC will consider whether to suspend trading in the company’s shares for up to 12 months or revoke its registration, according to a filing December 8.

In a response December 21, the company said successfully resolving "material uncertainties" would let the company finalize its financial statements and file the relevant forms.

FTC Seeks Feedback on Jewelry Guides

The Federal Trade Commission (FTC) is seeking comments by April 4, 2016, on the latest draft of proposed changes to the FTC Guides for the Jewelry Industry.

The FTC proposes to revise its guidance on below-threshold alloys, precious metal content of products containing more than one precious metal, surface application of precious metals, lead-glass filled stones, synthetic diamonds, pearl treatments, varietals and misuse of the word ‘gem,’ an FTC statement said.

IDE Appoints Advisory Council, New Board

Yoram Dvash, the new president of the Israel Diamond Exchange (IDE), has set up a Presidents' Consultative Council body comprising leading industry figures.

Former presidents Shmuel Schnitzer, Avi Paz and Yair Sahar, who are all honorary presidents of the IDE, are joined on the new council by Jacob (Kobi) Korn, president of the Israel Diamond Manufacturers Association (IsDMA) and a recent acting president of the IDE; and Moti Ganz, chairman of the Israel Diamond Institute and a former president of IsDMA. They will hold regular meetings to advise Dvash on current matters.

Dvash also appointed a new board and chairs of committees after being elected mid-December. Yehezkel Blum, formerly vice president of the IDE, is now executive vice president, while Shalom Papir has been appointed senior deputy president.


Bank Opens Dubai Diamond Financing Base

The National Bank of Fujairah (NBF) opened its diamond financing office in the Dubai Multi Commodities Centre (DMCC). This comes after the United Arab Emirates bank set up a diamond financing team in April 2015 to fund manufacturers and traders of rough and polished stones.

The unit, based in the Almas Tower, has more than 70 clients, according to the bank. The facility was inaugurated by Ahmed Sultan Bin Sulayem, executive chairman of the DMCC, and senior figures from the NBF and the DMCC.

RETAIL & WHOLESALE

U.S. Holiday-Season Sales +8%

U.S. retail sales grew 7.9% during the shopping season from Black Friday to Christmas Eve, according to the MasterCard SpendingPulse. The survey tracks sales using cards, cash and checks, excluding automobiles and gasoline purchases.

Ecommerce was among the biggest winners this holiday season, growing about 20% from a year ago, MasterCard Advisors said December 28. According to the company’s recent Omnishopper Guide, 70% of U.S. consumers report doing more research online than before.

Amazon Mobile Shopping Soars this Holiday

Customers shopping on Amazon's mobile app more than doubled this holiday, with nearly 70 percent of the ecommerce giant’s clientele using a mobile device to shop. On Cyber Monday, the first major online shopping day of the season, customers worldwide ordered more than 33 electronics items per second from a mobile device.

The number of members of Amazon Prime, the online retailer’s paid-for service, who shopped via mobile more than doubled in the U.S. this season, Amazon said.

U.S. Jewelry & Watch Sales +3%

U.S. jewelry and watch sales from all retail outlets increased 3.3% year on year to an estimated $6.9 billion in November 2015, according to provisional figures from the Bureau of Economic Analysis.

Jewelry sales in November increased 3.3 per cent year on year to $6.1 billion, according to Rapaport News estimates – beating the October growth rate of 1.9%.

Watch sales rose 3.8% to $811 million year on year. Both categories have seen seven consecutive months of growth after five straight months of decline between December 2014 and April 2015.

Millennials Still Desire Diamonds

Millennials are almost twice as likely as non-millennials to have bought diamond jewelry as a holiday gift, according to a survey carried out by the Diamond Producers Association (DPA).

More than a quarter of men gave diamond jewelry to their partner last holiday season, while this year one third said they planned to, according to the DPA, which polled 400 consumers with annual household income of $75,000 or more in an online survey immediately after the Thanksgiving weekend. The respondents were all married or in a committed relationship, aged 18 to 64, and included a “robust sample” of millennials.

Tiffany Tops Survey of 66 U.S. Digital Brands

Tiffany & Co. topped a ranking of jewelry and watch brands’ digital performance carried out by business intelligence company L2.

The retailer was one of only two brands to receive a “genius” ranking in the 2015 Digital IQ Index: Watches & Jewelry, which benchmarks the online strength of 66 brands in the U.S. The other “genius” brand as per the L2 index was Cartier.
MINING

Warm Weather Poses Risk to Canada Ice Road

The world's busiest ice road in Canada’s Northwest Territories is running late because unseasonably warm weather has set back ice formation on a path that gives access to remote diamond mines during the winter, Reuters reported December 24.

The road is still expected to open on schedule late January. However, if current weather patterns continue, there could either be more work for crews trying to build the ice, or the road’s already short period of operation could be cut, the report said.

Paragon Shares Delisted from AIM

Paragon Diamonds was delisted from London’s Alternative Investment Market (AIM) December 29, according to a London Stock Exchange statement of the same date.

The miner had released a statement December 24 saying its shares would be delisted as negotiations over the funding for its mining operations in Lesotho were “unlikely” to reach a “conclusion” by year-end.

The company’s directors worked “tirelessly” to secure financing to bring its Lemphane Kimberlite Pipe Project into production and to enable the miner to explore the Mothae Kimberlite Resource, according to the December 24 statement.

GENERAL

Elvis’ Jewelry Up for Auction

Jewelry and watches owned by Elvis Presley will be among items auctioned at the American singer and actor’s Graceland home in Memphis, Tennessee, this coming week.

“The Auction at Graceland” on January 7 will offer, among a number of pieces, a gold, diamond and rock crystal quartz ring gifted by Elvis to his friend Linda Thompson, estimated at $15,000 to $20,000. Also up for bids is a 14-karat gold necklace gifted to bodyguard Sam Thompson featuring the initials “TCB,” estimated at $12,000 to $15,000, according to Graceland Auctions.

India’s IBJA Plans World Silver Council

The India Bullion and Jewelers Association (IBJA) plans to launch the World Silver Council in the first week of January, Business Standard reported.

The apex body will include representatives from domestic and global silver miners, refiners, traders and users, the report said December 15, citing a senior IBJA official. It will also seek membership from domestic and global players in the silver market and plans to seek ‘council’ status from the Indian government. No such ‘council’ currently exists for the silver industry in India, the newspaper said.


ECONWATCH

Diamond Industry Stock Report

U.S. retail stocks were generally stable or slightly down this past week since Christmas. Kohl's (+2.1%) headed the pack, while Birks Group (-10%) fell the most. Far East stocks were mixed, with Hong Kong’s Chow Tai Fook (+2.2%) and Luk Fook (+1.9%) gaining and Singapore-listed ValueMax Group (-3.3%) heading the declines. Mining stocks were solid overall, but Anglo American (-9%) continued its recent slide. Indian share prices were mixed, with Lypsa Gems (+11%) heading the gains and Goldiam International (-5%) suffering the biggest decline.

View the detailed industry stock report.
Dec. 31 (09:30 GMT) Dec. 24 (10:00 GMT) Chng.
$1 = Euro 0.92 0.91 0.003
$1 = Rupee 66.22 66.07 0.2
$1 = Israel Shekel 3.90 3.90 0.01
$1 = Rand 15.60 15.23 0.37
$1 = Canadian Dollar 1.39 1.39 0.00

Precious Metals Chng.
Gold $1,062.48 $1,073.90 -$11.42 -1.1%
Platinum $871.55 $875.75 -$4.20 -0.5%
Silver $13.88 $14.34 -$0.46 -3.2%

Stock Indexes Chng.
BSE 26,130.97 25,842.44 288.53 1.1%
Dow Jones 17,603.87 17,602.61 1.26 0.0%
FTSE 6,256.14 6,249.53 6.61 0.1%
Hang Seng 21,914.40 22,138.13 -223.73 -1.0%
S&P 500 2,063.36 2,064.29 -0.93 0.0%
Yahoo! Jewelry 1,005.71 1,007.05 -1.34 -0.1%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment January 7, 2016


Polished prices firm, market mood much better and rough demand improving due to polished shortages. Manufacturing still at about 30% below capacity. We advise caution as current market prices are based on shortages created by artificial rough prices that are higher than resultant polished. Rough market volatility expected in 1H as miners reduce prices to increase revenue. Chinese New Year (Feb. 8) demand uncertain with Chinese economy under pressure as Shanghai stock market plummets 12% since Jan. 1 and yuan currency devalued 2%. U.S. steady after relatively positive holiday season. Signet Jewelers reports Nov-Dec. sales +5% to $1.9B. Notice: Rapaport Diamond Specifications updated as of 1/1/16. See www.diamonds.net/Prices/RapaportSpecs.aspx.



RapNet Data: January 6

Diamonds 1,057,289
Value $7,705,681,371
Carats 1,202,677
Average Discount -27.91%

www.rapnet.com


The RapNet Diamond Index (RAPI) is the average price for the top 25 diamond qualities (D-H, IF-VS2). It is based on the 10 best priced diamonds for each quality.




Get Current Price List | Subscribe to Rapaport | Join RapNet



RAPAPORT ANNOUNCEMENTS
January 7-11 Thu-Mon
Rapaport Rough Tender

Surat, India

View Details
January 12-20 Tue-Wed
Rapaport Melee Auction

New York & Dubai

View Details
January 13-20 Wed-Wed
Rapaport Single Stone Auction

New York & Israel

View Details
RapNet is Fully Mobile
App now available on iOS and Android.
Download

QUOTE OF THE WEEK
The implementation of store-operations initiatives in the third quarter combined with investment in our recently launched innovative merchandising and marketing programs positioned Signet well for a strong fourth quarter and beyond.

Signet Jewelers chief executive officer Mark Light on the retailer’s 5% year-on-year increase in holiday sales

MARKETS

United States: Dealers return from New Year vacation optimistic about 2016 but profitability challenges remain. Shortage of RapSpec A2 (3X, none) diamonds on the market. Good demand for 0.30-0.80ct., G-J, SI-I2 diamonds...

Belgium: Better mood in Antwerp than before Christmas-New Year although trading is still cautious. Prices supported by shortages with dealers competing for RapSpec A2 (3X, none) diamonds...

Hong Kong: Trading improving as jewelers prepare for the Chinese New Year (Feb. 8). Shortages in GIA-dossiers supporting prices with good demand for RapSpec A2 (3X, none) 0.30-0.50ct., D-J, VVS1-SI diamonds. Large stone market cautious...

India: Trading improving. Sellers holding the right goods are able to get good prices. Shortages of RapSpec A2 (3X, none) diamonds. Good demand and shortages for 0.30-0.50ct., D-J, VS-SI diamonds...

Israel: Market stable with much better mood than two months ago. Dealers feel the market has bottomed and there is positive momentum. Prices supported by shortages and U.S. demand...

Click here to continue reading

INDUSTRY

Polished Diamond Prices Increase in December

Polished diamond market sentiment improved in December as shortages supported prices and dealers filled last-minute holiday orders.

The RapNet Diamond Index (RAPI™) for 1-carat, GIA-graded diamonds rose 1.5% in December. RAPI for 0.30-carat diamonds advanced 4.7% and RAPI for 0.50-carat diamonds grew 3%. RAPI for 3-carat diamonds fell 0.1%.

For the full year 2015, RAPI for 1-carat diamonds declined 5.8%. RAPI for 0.30-carat diamonds dropped 13.4%, while RAPI for 0.50-carat diamonds slumped 14.5%. RAPI for 3-carat diamonds fell 14.5% in 2015.

Industry Stocks Lag in 2015

Global diamond, jewelry and retail stocks underperformed this year as 76% of the listed companies tracked by the Rapaport Diamond Industry Stock Tracker declined in 2015.

Out of 50 stocks followed by Rapaport News, 38 fell between January 2 and December 29, according to data compiled from Yahoo Finance.

The worst-hit region was the Far East, where all five tracked companies saw their share prices fall. U.S. retail stocks also took heavy hits, while seven out of 10 miners outside of the U.K. markets tracked by Rapaport News lost at least 13 percent and all U.K. miners but one declined. Continental European and Indian stocks were mixed.

World’s Largest Blue Star Sapphire Found

The world’s largest blue star sapphire was discovered in Sri Lanka, the BBC reported January 4, citing gemologists in the country. The 1,404.49-carat gem is estimated to be worth at least $100 million and could sell for up to $175 million, the report said.

The precious stone, mined at the City of Gems — Ratnapura — in southern Sri Lanka, has been certified by the Gemmological Institute of Colombo, the nation’s capital.

Angola Production Static at 9M Cts.

Angola produced an estimated 8.8 million carats of diamonds in 2015, AllAfrica.com reported December 30, citing the nation’s Minister of Geology and Mining Francisco Manuel de Queiroz. The growth in output last year was flat when compared with the previous year’s production as disclosed by the Kimberley Process August 12.

Revenue from diamond sales was $1.1 billion, according to the report, representing a 17 percent year-on-year drop. The average price per carat declined 17 percent to $125, based on a comparison with Kimberley Process data from 2014.

World Gold Council Consults on Shariah Standard

The World Gold Council (WGC) has joined up with Amanie Advisors, an advisory firm for Islamic markets, to explore the possibility of creating a global Shariah standard on gold.

The standard aims to give guidance on how to use gold in Islamic financial products and transactions, a WGC statement said. Having an accepted standard available would also help develop a wider range of Shariah-compliant gold products, provide greater clarity for Islamic finance investors and make Shariah-compliant instruments more widespread and diverse, the council added.

RETAIL & WHOLESALE
Signet’s Holiday Sales +5%

Signet Jewelers reported holiday-season group sales rose 5 percent year-on-year to $1.95 billion in 2015, driven by success across strategic store brands, merchandise categories and selling channels. A stronger result helped the company to improve its revenue guidance for the fourth quarter.

Same-store sales climbed 4.9 percent during the eight weeks that ended December 26, compared with a 3.6 percent advance a year earlier. Growth was mostly driven by mall-based and outlet concept stores in the U.S. and Ernest Jones stores in the U.K., according to a statement by the New York and London-listed retailer January 7. At a constant exchange rate, total sales increased 6.3 percent.

E-commerce sales jumped 11 percent to $139.7 million.

Huawei, Swarovski Launch ‘Female-Focused’ Smartwatches

Huawei Consumer Business Group has teamed up with the Swarovski Gemstones Business to unveil two new versions of a premium smartwatch the Chinese telecom company launched last year.

The release at the Consumer Electronics Show in Las Vegas marks a “new female focus for the company,” Huawei said.

The Jewel and Elegant editions – available from March 2016 – complement the Classic, Active and Elite smartwatches Huawei released in 2015 and offer “stylish” options aimed at women.

LVMH, Arnault, Catterton Create Private Equity Firm

Luxury giant LVMH Moët Hennessy Louis Vuitton has partnered with private equity group Catterton and French business magnate Bernard Arnault to set up what the trio claims will be the world’s largest consumer-focused investment firm.

As part of the deal, Catterton’s private equity operations in North America and Latin America will combine with LVMH and Groupe Arnault’s European and Asian private-equity and real-estate business. It is targeting $12 billion in assets under management after successor funds are closed.

Sotheby’s 2015 Jewelry Auction Sales Hit $562M

Sotheby’s sold $561.7 million of jewelry at 11 auctions in 2015, undershooting a revenue record of $602.5 million in the previous year. The results cannot be compared with previous periods because they are “not aggregated with the same exact information,” the auctioneer cautioned.

The company sold $300.5 million of jewelry across two auctions in Geneva, including a November auction where it sold the high-profile Blue Moon diamondfor $48.5 million. Three New York auctions brought in $135.7 million, and the company sold $105.4 million of jewels at three events in Hong Kong. London sales totaled $20.1 million (GBP 13.2 million) from three auctions.

MINING

Union to Protest De Beers’ Kimberley Sale

South Africa’s National Union of Mineworkers (NUM) will march in Johannesburg next week against De Beers decision to sell the Kimberley Mines, claiming the union was not consulted before the deal was announced in the media last year.

Protesters affiliated to the NUM’s Kimberley Mines branch will be “voicing their anger, disappointment and sadness” over the manner in which De Beers sold the mines in South Africa to Petra Diamonds and Ekapa Mining, leaving “600 employees’ future hanging in limbo.” The union will demand the mining giant halt the sale and start a consultation process.

Dominion Investors Call for Share Buyback

Two Dominion Diamond Corp. shareholders have urged the Canadian-listed miner to use cash for a share buyback, Reuters reported, citing the unidentified investors who asked not to be named.

The shareholders, who own nearly 3 percent of Dominion, could use some of its nearly $300 million in net cash to buy back stock, the report said December 30. The cash pile is equal to about 35 percent of the company’s market value. Dominion’s share price fell 33 percent in 2015 to December 29.

GENERAL

Kate’s Engagement-Ring Replica No Longer For Sale

Copies of Kate Middleton’s sapphire and diamond engagement ring have been removed from a collection of replica royal jewelry going on sale to the public, the U.K.’s Daily Mail reported.

Middleton, the Duchess of Cambridge and wife of Prince William who is second in line to the throne in Britain, may have herself banned the sale because the real ring has a deep personal significance for the couple, the newspaper said, citing royal sources.

The original ring once belonged to William’s late mother Princess Diana. Its replica was expected to be part of a ‘Princess Diana jewelry collection’ sold online and at a royal gift shop at William and Kate’s official residence, Kensington Palace.

Fair-Trade Activist Valerio Honored by Queen

Fair-trade activist and jeweler Greg Valerio was included in the Queen’s New Year Honours List for 2016, which recognizes achievements and service of “extraordinary” people across the U.K.

Valerio was made a Member of the Most Excellent Order of the British Empire (MBE) for services to the UK and fair-trade gold sectors in Colombia and East Africa, according to an official list of recipients.

The maverick and social entrepreneur owns VALERIO Jewellery, an online ethical and fair-trade fine jewelry brand.

19 Ordered to Face Trial over Brussels Heist

Nineteen people have been ordered to face trial over a $50 million diamond heist at Brussels Airport in 2013, AFP reported, citing Belgian news agency Belga.

Nine suspects have been charged with direct involvement in the robbery and the others with hiding the diamonds. Six of the 19 are also charged with money laundering in Belgium, Switzerland and Morocco, and three are women, the report said December 31.

The robbery in February 2013 saw a gang of armed men pose as police and take the diamonds from a passenger plane.
ECONWATCH
Diamond Industry Stock Report

After a difficult 2015, industry stocks were mixed in the first week of the New Year, some prices recovering and others suffering from a global slide led by China. Several U.S.-listed retailers rose by 2% to 5%, led by Signet (+4.5%), but Birks Group (-17%) and Sotheby’s (-11%) headed the declines. True North Gems (+6%) was the strongest of the mining stocks, with some miners improving, but others including Anglo American (-19%) slipped. Most Far East and European stocks fell, led by Singapore-listed ValueMax Group (-12%) and Switzerland-listed Swatch Group (-10%).

View the detailed industry stock report.
Jan. 7 (10:40 GMT) Dec. 31 (09:30 GMT) Chng.
$1 = Euro 1.09 0.92 0.170
$1 = Rupee 66.87 66.22 0.7
$1 = Israel Shekel 3.94 3.90 0.04
$1 = Rand 16.06 15.60 0.46
$1 = Canadian Dollar 1.41 1.39 0.02

Precious Metals Chng.
Gold $1,096.60 $1,062.48 $34.12 3.2%
Platinum $868.45 $871.55 -$3.10 -0.4%
Silver $13.99 $13.88 $0.11 0.8%

Stock Indexes Chng.
BSE 24,851.83 26,130.97 -1,279.14 -4.9%
Dow Jones 16,906.51 17,603.87 -697.36 -4.0%
FTSE 5,903.77 6,256.14 -352.37 -5.6%
Hang Seng 20,333.34 21,914.40 -1,581.06 -7.2%
S&P 500 1,990.26 2,063.36 -73.10 -3.5%
Yahoo! Jewelry 974.15 1,005.71 -31.56 -3.1%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment January 14, 2016


Sentiment improving after positive U.S. Christmas season but low expectations for Chinese New Year. Polished prices firm with supply shortages expected to support the market through 1Q. Manufacturing increasing slightly but still estimated at 30% below capacity. Rough demand improving with 5-7% price cut expected at next week’s De Beers sight. Chow Tai Fook 3Q sales -11%. Luk Fook 3Q same-store sales -25%. Richemont 3Q jewelry maisons sales +2% to $1.8B. Birks 3Q same-store sales +3.5%. Michael Hill 1H revenue +9% to $213M. U.S. Nov. polished imports -15% to $1.6B, polished exports -16% to $1.4B. Israel 2015 polished exports -20% to $5B, rough imports -31% to $2.8B.


RapNet Data: January 13

Diamonds 1,061,512
Value $7,911,405,249
Carats 1,196,450
Average Discount -27.74%

www.rapnet.com


The RapNet Diamond Index (RAPI) is the average price for the top 25 diamond qualities (D-H, IF-VS2). It is based on the 10 best priced diamonds for each quality.

Get Current Price List | Subscribe to Rapaport | Join RapNet

RAPAPORT ANNOUNCEMENTS

January 12-20 Tue-Wed


Rapaport Melee Auction

New York & Dubai

View Details
January 13-20 Wed-Wed
Rapaport Single Stone Auction

New York & Israel

View Details
February 2-10 Tue-Wed

Rapaport Rough Tender

Surat, India

View Details

RapNet is Fully Mobile
App now available on iOS and Android.
Download

QUOTE OF THE WEEK
Improved living and income standards are likely to be the focus of the [Chinese] government in the coming years as will be increased domestic consumption. So luxury brands can still expect an increase in the number of individuals purchasing luxury items in China, but on average at lower prices.

Ken Grant, director at FDKG Insight and publisher of Luxury Insights China for 4Q 2015

MARKETS

United States: Sentiment improving with positive reports about jewelry sales over Christmas. Dealers returning to the market and looking for diamonds but trading limited by shortages...

Belgium: Dealers more optimistic about the market after solid U.S. Christmas season. Buyers making inquiries to assess prices rather than place orders...

Hong Kong: Trading is focused on filling last-minute orders before the wholesale market closes for the Chinese New Year (Feb. 8)...

India: Polished trading okay with steady U.S. post-holiday demand but some uncertainty about China...

Israel: Sentiment improving and dealers gaining confidence to buy. Polished prices firm with shortages limiting trading for RapSpec A2 (3X, none) diamonds...

Click here to continue reading

INSIGHTS

Adjusting to China’s New Normal

The diamond industry has a lot riding on the Chinese New Year season and recent events in Shanghai have done little to inspire confidence. As stocks plummeted and the Renminbi depreciated against the dollar, fresh concerns rose about China’s growth prospects, its impact on the global economy and on the diamond and jewelry trade...

Click here to continue reading

INDUSTRY

U.S. Polished Imports -15% in Nov.

U.S. polished diamond imports fell 15 percent year on year to $1.62 billion in November. Diamond imports by weight declined 14 percent to 735,561 carats and the average price dipped 0.6 percent to $2,205 per carat. Polished diamond exports, meanwhile, fell 16 percent to $1.37 billion, driving net imports down 9.3 percent to $253 million.

Rough diamond imports soared 37 percent to $31.8 million, while rough exports more than doubled to $18 million, leaving net rough imports down 9.4 percent to $13.8 million. The net diamond account, reflecting the difference between net imports and exports, decreased 9.3 percent to $266.8 million.

Element Six Takes Legal Action Against Synthetics Firm

Element Six, De Beers' synthetics business, began legal action January 12 in Singapore against IIa Technologies, alleging an infringement of patents.

Some patents for proprietary synthetic diamond products and their manufacturing method have been infringed, in particular Singapore patent numbers 115872 and 110508, Element Six claimed in a statement. The Singapore-based grower of colorless type-IIa gems is “exploiting Element Six patents for commercial gain,” potentially in both the industrial and jewelry sectors, the statement alleged.


Israel’s 2015 Polished Exports -20%

Israel’s polished diamond exports slumped 20 percent to $5 billion in 2015 because of a drop in demand in key markets and a mismatch between the prices of polished and rough gems, according to the Ministry of Economy.

Polished imports declined 23 percent to $3.48 billion. Net polished exports, representing exports minus imports, fell 13 percent to $1.52 billion. Rough imports for the year slumped 31 percent to $2.78 billion and rough exports fell 28 percent to $2.2 billion. Consequently, net rough imports, representing imports minus exports, slid 39 percent to $585 million. Israel’s net diamond account, the difference between net imports of rough and net exports of polished, jumped 18 percent to $931 million.

IDE Hires Eli Avidar as Managing Director

The Israel Diamond Exchange (IDE) has appointed Eli Avidar as managing director, replacing Moti Besser, who had completed two terms in the role.

Avidar, managing director of the Israel Diamond Institute Group of Companies (IDI) since January 2007, takes on the new position with immediate effect, according to an IDE statement January 13.

Avidar’s appointment comes after Yoram Dvash was elected president of the IDE in December. Soon after taking office he appointed a new board and committee heads and set up an advisory panel of former presidents.

Temple St. Clair, Cartier Win GEM Awards

Temple St. Clair won the Jewelers of America (JA) GEM Award for Jewelry Design at this year’s ceremony in New York, which was held January 8.Her design achievements in 2015 included the launch of her ‘Wings of Desire’ and the debut of her collection ‘Mythical Creatures from the Golden Menagerie’ at the Musée du Louvre in Paris.

Cartier received the GEM Award for Watch Design. The GEM Award for Media Excellence went to Rob Bates, news director of JCK. Joe Thompson, editor-in-chief of WatchTime magazine, was the recipient of the 2016 GEM Award for Lifetime Achievement.

Diamond-Backed Cryptocurrency to Launch

The companies behind the world’s first diamond-backed cryptocurrency will start selling the digital coinage this month. The asset class used is colored diamonds, which the founders of the PinkCoin claim have not lost value since tracking began in 1959.

Precious Investments and its subsidiary BitGem Asset Management (BAM) will launch the PinkCoin crowdsale – a crowdfunding process in which investors acquire PinkCoin tokens – on January 18.

PinkCoin is based on the Ethereum cryptocurrency platform and backed by a pool of fixed colored-diamond assets kept in trust by BAM. The initial crowdsale will comprise 5 million PinkCoin tokens and the initial diamond asset pool has been valued at $5 million, meaning each token will be worth $1 to begin with. The diamond pool will be valued on a regular basis.


JVC Publishes Quality-Assurance Guide

The Jewelers Vigilance Committee (JVC) has published a guide that helps jewelers ensure the products they sell comply with the law.

“Getting It Right – JVC’s Guide to Quality Programs for Jewelers,” published with a grant from the International Gemological Institute, provides “simple and useable” tools to implement quality-assurance programs. The guide aims to increases awareness of elements that jewelers should address to assure they are following the required standards.

AGS to Run Advert Campaign

The American Gem Society (AGS) announced plans to launch a campaign in the U.S. to raise customer awareness about its brand and members and attract younger customers.

“Buy It with Confidence” advertisements will target men and “Love What You See. And What You Can’t” will be aimed at women. Print advertisements will run in lifestyle magazines GQ, Glamour and Vogue in the first half of 2016 in key regional markets to cover Valentine’s Day, Mother’s Day and the bridal season. A print and digital-media advertisement campaign will run in a wedding magazine,The Knot, throughout 2016.

RETAIL & WHOLESALE

Luk Fook’s 3Q Same-Store Sales -25%

Luk Fook reported group same-store sales from self-operated shops dived 25 percent year on year in the third quarter that ended December 31 as retail sentiment remained “sluggish.”

Revenue growth in Hong Kong and Macau slumped 26 percent year on year, while mainland-China sales dropped 10 percent. The dip was from a “relatively higher base” last year.

Sales of gem-set jewelry fell 26 percent and gold dropped 25 percent.

Chow Tai Fook 3Q Sales -11%

Chow Tai Fook reported group retail sales dropped 11 percent year on year in the third quarter that ended December 31 as fewer tourists from mainland China visited Hong Kong and on account of weaker local retail sentiment in Hong Kong and Macau.

Same-store sales at the Hong Kong-listed group dived 15 percent in value terms and slid 13 percent on a volume basis. Hong Kong and Macau retail sales suffered the steepest decline, falling 20 percent in total value. Same-store sales in the region plummeted 23 percent by value and 21 percent by volume.

Richemont’s 3Q Sales -4%

Richemont reported revenue – measured at constant exchange rates – declined 4 percent year on year in the third quarter that ended December 31 even as jewelry sales grew in most regions and product categories. Demand for watches was weak.

The slowdown reflected weaker trading in Europe than in the previous six months and continued challenging conditions in the Asia-Pacific region.

Total sales at actual rates during the three months increased 3 percent to $3.19 billion (EUR 2.93 billion), the Switzerland-based luxury group said in a statement January 14.

Michael Hill’s Sales +9%; Mulls ASX Listing

Michael Hill reported sales increased 8.7 percent year on year in the first half that ended December 31.

Revenue grew to $213 million (AUD 306.3 million), while same-store sales advanced 4.8 percent to $201.5 million. The group opened six new Michael Hill stores during the half year, giving a total of 293 at the end of December.

The results come as the jewelry retailer announced it is considering listing shares on the Australian Securities Exchange (ASX) as the company – founded in New Zealand – has over time moved its center of gravity to Australia.

Birks Group’s 3Q Comparable Sales Rise

Jewelry retailer Birks Group reported comparable-store sales rose 3.5 percent year on year in the third quarter, defying difficult market conditions. Total consolidated net sales – down 6.6 percent on a weaker Canadian dollar – also rose 1.2 percent on an ex-currency basis.

Comparable-store sales in Canada advanced 5.9 percent and in the U.S. grew 1.4 percent even though a stronger U.S. dollar constrained tourist spending stateside.

Pandora’s Sales +40% in 2015

Pandora reported preliminary revenue surged 40 percent to $2.44 billion (DKK 16.7 billion) over the year to December 31, in line with its guidance released in November.

A “tailwind” from foreign-exchange rates of about 11 percent was one percentage point higher than the previous estimate, the Denmark-headquartered company said. The company had forecast sales of above $2.34 billion in 2015.

Holiday-Season Mobile Sales +59%

Mobile commerce in the U.S. soared 59 percent year on year to $12.65 billion in November and December, according to the latest holiday-season estimates from comScore.

The preliminary figure – sales from smartphones and tablets – accounts for 18 percent of total digital commerce compared with 13 percent last year, according to a statement January 8. The company had earlier forecast a 50- to 60-percent surge in mobile commerce revenues during the same period.

Total digital spend is projected to have risen 13 percent to $69.08 billion, while final data showed online sales from desktop computers increased 6 percent to $56.43 billion.

MINING

Dominion Adds Director from Activist Shareholder Group

Dominion Diamond Corporation added two new directors on its board, including one from an institutional investor that had put pressure on the Canada-based miner’s management after a share-price slump in 2015.

Josef Vejvoda, a portfolio manager at K2 & Associates Investment Management, was appointed after being “identified and proposed to Dominion by a group of shareholders,” according to a Dominion statement January 13. A shareholder group led by K2 “entered into an agreement with Dominion which includes a customary standstill on the part of the group,” the statement added.

Jim Gowans, a former De Beers executive, has also joined the board and will be appointed non-executive chairman by April 30.

Rockwell to Close Johannesburg HQ

Rockwell Diamonds will close its head office in Johannesburg and stop operations at its Saxendrift mine as part of a strategic review to cut costs and improve cash flow. The company has also issued all of its employees with retrenchment notices amid a slump in processing, production and sales figures.

The miner will transfer Johannesburg-based key senior executives to its operations in the country’s Middle Orange River (MOR) region on a full-time basis, saving about $484,097 (ZAR 7.9 million) per year.

Peregrine Unveils Chidliak-Sample Results

Peregrine Diamonds reported an overall diamond grade of 0.88 carats per tonne from an 814-dry tonne bulk sample from the Chidliak Diamond Project in Nunavut, Canada. The material was taken from the CH-7 kimberlite pipe at the mine, which it owns outright.

The Toronto-listed exploration company recovered 717.65 carats of commercial-size diamonds, including “53 diamonds one carat or larger and 183 diamonds over 0.50 carat in size.” The largest individual gem was a 5.33-carat white octahedron with no inclusions.

Diamond breakage was high, with 75 to 90 percent of gems damaged, more than double what is typical for large-diameter reverse-circulation (RC) drilling programs.


GENERAL

4th India Diamond Week to Begin in New York

The fourth edition of India Diamond Week will be held in New York from January 18 to 21.

The event, run by India’s Gem & Jewellery Export Promotion Council (GJEPC) and New York’s Diamond Dealers Club (DDC), will host about 15 diamond companies from India at the DDC’s premises. Diamond wholesalers and dealers who are members of the DDC and trade diamonds in New York, as well as buyers from Chicago, Los Angeles, Canada and Florida, are expected to attend the event.

ECONWATCH

Diamond Industry Stock Report

U.S. stocks were mixed as retailers reported holiday sales, led by Birks Group (+11%). Far-East stocks reflected market turmoil in the region, with Luk Fook (-13.5%) slipping the most on disappointing 3Q sales. Goenka Diamond (+18%) led mixed Indian stocks, while most miners across global markets suffered.

View the detailed industry stock report.
Jan. 14 (11:45 GMT) Jan. 7 (10:40 GMT) Chng.
$1 = Euro 0.91 1.09 -0.171
$1 = Rupee 67.49 66.87 0.6
$1 = Israel Shekel 3.94 3.94 0.00
$1 = Rand 16.62 16.06 0.56
$1 = Canadian Dollar 1.44 1.41 0.02

Precious Metals Chng.
Gold $1,092.25 $1,096.60 -$4.35 -0.4%
Platinum $844.88 $868.45 -$23.57 -2.7%
Silver $14.09 $13.99 $0.10 0.7%

Stock Indexes Chng.
BSE 24,772.97 24,851.83 -78.86 -0.3%
Dow Jones 16,151.41 16,906.51 -755.10 -4.5%
FTSE 5,842.17 5,903.77 -61.60 -1.0%
Hang Seng 19,817.41 20,333.34 -515.93 -2.5%
S&P 500 1,890.28 1,990.26 -99.98 -5.0%
Yahoo! Jewelry 981.65 974.15 7.50 0.8%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment January 21, 2016


Polished prices firm due to shortages. Rough demand improving as manufacturers try to fill gaps in supply amid unconfirmed reports that De Beers has cut prices 5-7% at Jan. sight. Demand is cautious due to weak global economy and plunging stock markets: Dow -10% (Jan. 1-20), oil slumps below $30. Low expectations for Lunar New Year as China’s 2015 GDP growth slows to 6.9%. Christmas retail season softer than first reported as Tiffany Nov.-Dec. sales -6% to $961M. India Dec. polished exports -17% to $1.2B, rough imports +2% to $1.5B. Rio Tinto 4Q production +50% to 4.3M cts., Simon Trott replaces Jean-Marc Lieberherr as diamond chief.


RapNet Data: January 20

Diamonds 1,065,756
Value $7,943,642,792
Carats 1,222,034
Average Discount -27.82%

www.rapnet.com


The RapNet Diamond Index (RAPI) is the average price for the top 25 diamond qualities (D-H, IF-VS2). It is based on the 10 best priced diamonds for each quality.




Get Current Price List | Subscribe to Rapaport | Join RapNet



RAPAPORT ANNOUNCEMENTS


February
2-10
Tue-Wed


Rapaport Melee Auction

New York & Dubai

View Details
February 10-17 Wed-Wed
Rapaport Single Stone Auction

New York & Israel

View Details Feb-Mar 22-4 Sun-Wed
Rapaport Melee Auction

New York & Hong Kong

View Details
RapNet is Fully Mobile
App now available on iOS and Android.
Download

QUOTE OF THE WEEK
After such a difficult year, it seems that there are some reasons to be cautiously optimistic as 2016 begins, and we may be starting to recover some of the lost momentum.

De Beers CEO Philippe Mellier in a speech at the sight in Gaborone this week

MARKETS

United States: Mood improving and dealers are looking for select goods. Liquidity is tight. Suppliers giving higher discounts for cash deals, while buyers are insisting on credit terms...

Belgium: Dealers gaining in confidence as polished prices firm. Shortages supporting prices with no substantial rise in demand ahead of Chinese New Year. U.S. demand stable...

Hong Kong: Dealers filling last-minute orders before the market shuts down for the Chinese New Year Spring Festival (Feb. 8)...

India: Greater optimism about the market as prices firm due to shortages. Trading improved since Diwali. Suppliers still concerned about China as Chinese New Year demand is very soft...

Israel: Rising dealer confidence. Polished prices firming due to limited availability of fine-cut goods and some U.S. post-holiday and Chinese New Year demand...

Click here to continue reading

INDUSTRY

Rapaport Releases Annual Price Statistics Report 2015

The Rapaport Group released its annual Diamond Price Statistics Report for 2015, evaluating the performance of polished diamond prices. The report provides an in-depth analysis of the trends in polished diamond prices during the past year and it compares the price changes of specific diamond categories.

The Rapaport Diamond Price Statistics Report charts the progression of polished diamond prices and indexes in various sizes throughout the year and across a period of up to 37 years. In doing so, the report provides a complete study of the history and current standing of the global diamond market.

To purchase the report, please visit: http://store.rapaport.com/

India’s Polished Exports -17% in December

India’s polished diamond exports slumped 17% year on year to $1.2 billion in December, according to provisional data from the Gem & Jewellery Export Promotion Council. By volume, polished exports dropped 5% to 1.9 million carats. Polished imports plummeted 46% to $239 million, leaving net exports 4.6% lower at $964.3 million.

Rough diamond imports increased 2.4% to $1.47 billion and rough exports fell 7.3% to $99.6 million, leaving net imports 3.2% higher at $1.37 billion. India’s net diamond account, which is calculated as the difference between net polished exports and net rough imports, was negative $402.2 million, compared with negative $313.4 million in December 2014.


Leo Schachter Hires Sales VP

Polished diamond manufacturer Leo Schachter Diamonds has appointed Frederick Goldman’s senior vice president Joseph Green as its new executive VP of sales.

In his new role, Green is responsible for the development of the De Beers sightholder’s business supplying diamonds to independent retailers.

Green was senior vice-president at jewelry maker Frederick Goldman for eight years. He was also a VP at Ritani, a jewelry designer and manufacturer.

Borsa Istanbul, WDM Sign Pact

Turkish exchange Borsa Istanbul signed an agreement with the World Diamond Mark Foundation (WDM) to “institutionalize” diamond trading in Turkey and other markets with which the bourse is connected.

The deal “cements the cooperation” between the diversified Istanbul bourse and the WDM, the WDM said.

RETAIL & WHOLESALE

Tiffany’s Holiday Sales -6%

Tiffany & Co. reported global sales in the two months to December 31 dropped 6% year on year to $961 million as a stronger U.S. dollar coupled with weaker tourist spending hit revenue. The jeweler cut its guidance for full-year net earnings.

Even at constant exchange rate, worldwide sales fell 3% during the 2015 holiday season as declines in the Americas and Asia Pacific offset growth in Japan and Europe. Comparable-store sales worldwide slid 5% ex-currency.

In the U.S., lower foreign-tourist spending in New York and certain other markets in the country exacerbated the sales drop. Total sales slumped 7% year on year to $505 million. Ex-currency, the dip was 5% and comparable-store sales fell 8%.

U.S. Jewelry Store Sales Rise in November

U.S. specialty jewelry store sales rose 3.6% year on year to $2.6 billion in November, according to provisional figures from the U.S. Census Bureau. Sales in the first 11 months of 2015 fell 1% year on year to $24.69 billion.

Total retail and food services sales in the U.S. increased 1.6% to $448.58 billion in November, adjusted for seasonal fluctuations.

U.S. Holiday Sales +3%

U.S. holiday sales rose 3% year on year to $626.1 billion despite unforeseen weather conditions and an “extreme deflationary retail environment,” according to the National Retail Federation (NRF). This total growth in retail revenue, which includes online sales, lags the NRF’s 3.7-percent increase forecast for the season.

Non-store holiday sales grew 9% to $105 billion. Retail sales in December – excluding automobiles, gas stations and restaurants – increased 3.1% on an unadjusted basis.


U.S. Jewelry Prices Fall in December

The U.S. consumer price index (CPI) for jewelry fell 0.4% in December from a month ago, according to the Bureau of Labor Statistics. The inflation reading was 1% lower from a year earlier.

The December CPI for watches slipped 1.6% from a month ago and rose 0.8% from a year earlier, according to the U.S. labor data. The CPI for all urban consumers declined 0.1% in December on a seasonally adjusted basis.

MINING

Rio Tinto’s 4Q Production +50%

Rio Tinto reported diamond production surged 50% year on year to 4.3 million carats in the fourth quarter that ended December 31.

The Argyle pit in the remote East Kimberley region of Western Australia produced 3.4 million carats in the three months, an 86-percent jump from a year ago. Production at the miner’s Diavik mine in Canada slipped 3% to 899,000 carats.

Rio Tinto’s full-year production for 2015 grew 25% to 17.4 million carats, below its guidance of 18 million carats issued on October 16. Total diamond production in 2016 is forecast at 21 million carats, a 21-percent increase on 2015.

Rockwell Diamonds’ 3Q Revenue -63%

Rockwell Diamonds reported revenue decreased 63% year on year to $4.9 million (CAD 7.1 million) in the third quarter that ended November 30 as diamond prices around the world dropped and a fatality at the Remhoogte plant in South Africa caused a two-week shutdown at the mine.

The loss for the quarter nearly doubled to $6.4 million compared with the same period last year. Rough diamond sales declined 60% to $4.8 million, while beneficiation income – revenue from a deal with polished-diamond manufacturer Diacore – slumped 89% to $106,606. The average price per carat sold increased 16% to $1,328.

Diavik Production -3% in 2015

Recovery levels from the Diavik Diamond Mine in Canada fell 3% year on year to 1.5 million carats in the fourth quarter that ended December 31, part-owner Dominion Diamond Corporation reported. A 9-percent drop in processing volumes to 0.46% contributed to the decline in extraction.

Full-year recovery in 2015 fell 9% to 6.4 million carats, which was below the planned 7 million carats, Dominion said. Results released by Dominion, which owns 40% of Diavik, are on a 100-percent basis. Rio Tinto controls the remaining interest in the mine.

The companies plan to produce 7 million carats at the mine in 2016, a 9% increase over the output in 2015. Together, they plan to mine 2.1 million tonnes and process the same amount this year, according to a preliminary plan.


Rio Tinto’s Diamond Head to Depart

Jean-Marc Lieberherr, the managing director of Rio Tinto’s diamonds business, is to leave the company as part of a restructuring of the miner's diamonds and minerals product group.

Lieberherr, who has held the position for two and a half years, will be replaced by Simon Trott, Rio Tinto said. Lieberherr had been with the company for ten years. Trott is currently managing director of Rio Tinto’s salt and uranium businesses and will retain these responsibilities.

Lucapa’s Lulo Sales Hit Quarterly Record

Lucapa Diamond Company reported revenues of $5.6 million (AUD 8.1 million) from three sales of diamonds from the Lulo Diamond Project in Angola in the fourth quarter that ended December 31.

The figure was the highest quarterly sales result achieved by the miner to date, the company said. The average selling price was $1,468 per carat, the highest since mining commenced in January 2015.

GENERAL

Rolex Exec. Elected JSA Chair

The board of the Jewelers’ Security Alliance (JSA) elected Rolex Watch U.S.A.’s chief executive officer Stewart Wicht as its chairperson for a three-year term.

Wicht’s election was announced at a JSA annual luncheon in New York on January 9. He replaces Adam Heyman, who also served three years.

WJA Chooses International Board

The Women's Jewelry Association (WJA) elected Brandee Dallow, director of Rio Tinto Diamonds’ North America representative office, as president of the WJA’s international board of directors. Jenny Luker of Platinum Guild International will take on the president-elect role. Dallow succeeds Andrea Hansen of LuxeIntelligence, who served for two years in the position.

Two men have been elected to the WJA board for the first time in the organization’s history: Craig Danforth of the Gemological Institute of America as international affairs co-chair and Benjamin Smithee of The Smithee Group, education chair.







Three Convictions in Hatton Garden Heist

Three members of a gang were convicted in connection with a $20 million (GBP 14 million) heist in London’s Hatton Garden diamond district, The Guardian reported January 14.

Carl Wood of Cheshunt, Hertfordshire; William Lincoln of Bethnal Green, east London; and Hugh Doyle, of Enfield, north London, were found guilty by a court in London January 14, the U.K. daily said.

A group of men drilled through a 50 centimeter-thick concrete wall to break into the Hatton Garden Safe Deposit vault over the Easter weekend in 2015, the report said. Some $12.8 million of the loot has not been recovered yet. A key gang member nicknamed “Basil,” captured on camera with a wig of red hair, is still at large.
ECONWATCH

Diamond Industry Stock Report

Industry stocks suffered this past week as global markets tumbled. U.S. retail declines were led by Birks Group (-22%), while Tiffany fell 7.3% on disappointing holiday sales. Chow Sang Sang (-6.1%) headed the Far East drops. Mining stocks were mixed, with declines led by Rockwell (-16%) on poor 3Q results. Lypsa Gems (+27.5%) led the drops in India.

View the detailed industry stock report.
Jan. 21 (11:45 GMT) Jan. 14 (11:45 GMT) Chng.
$1 = Euro 0.92 0.91 0.002
$1 = Rupee 67.99 67.49 0.5
$1 = Israel Shekel 3.97 3.94 0.03
$1 = Rand 16.69 16.62 0.07
$1 = Canadian Dollar 1.45 1.44 0.01

Precious Metals Chng.
Gold $1,099.25 $1,092.25 $7.00 0.6%
Platinum $818.26 $844.88 -$26.62 -3.2%
Silver $14.03 $14.09 -$0.06 -0.4%

Stock Indexes Chng.
BSE 23,962.21 24,772.97 -810.76 -3.3%
Dow Jones 15,766.74 16,151.41 -384.67 -2.4%
FTSE 5,697.07 5,842.17 -145.10 -2.5%
Hang Seng 18,542.15 19,817.41 -1,275.26 -6.4%
S&P 500 1,859.33 1,890.28 -30.95 -1.6%
Yahoo! Jewelry 969.60 981.65 -12.05 -1.2%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment January 28, 2016


Diamond manufacturers increasing production as profitability returns due to lower rough prices and firm polished prices due to shortages. De Beers 2016 first sight period rough sales +118% to $540 from $248M at Dec. sight period. Reduction in De Beers rough prices estimated at 7-10%. Polished demand cautious as China prepares for Lunar New Year (Feb. 8). Good demand for 1ct. RapSpec A2 (3X, none) with large 6-8% premiums for 3X over 3VG. De Beers 2015 production -12% to 28.7M cts., sales volume -40% to 20.6M cts. ALROSA 2015 production +6% to 38.3M cts., sales -30% to $3.4B and sales volume -25% to 30M cts. Petra 1H production +2% to 1.6M cts., sales -28% to $154M. Swiss watch 2015 exports -3% to $21.2B as Apple boasts record watch sales in holiday quarter.


RapNet Data: January 27

Diamonds 1,067,032
Value $7,937,845,462
Carats 1,226,337
Average Discount -27.96%

www.rapnet.com


The RapNet Diamond Index (RAPI) is the average price for the top 25 diamond qualities (D-H, IF-VS2). It is based on the 10 best priced diamonds for each quality.

Get Current Price List | Subscribe to Rapaport | Join RapNet

RAPAPORT ANNOUNCEMENTS

Jan-Feb 30-1 Sat-Mon

RJO Buying Show

Phoenix, AZ

View Details
Jan-Feb 31-2 Sun-Tue
Centurion Show

Scottsdale, AZ

View Details February 2-10 Tue-Wed

Rapaport Melee Auction

New York & Dubai

View Details February 10-17 Wed-Wed
Rapaport Single Stone Auction

New York & Israel

View Details

QUOTE OF THE WEEK
We left prices unchanged because we see no reasons right now for them to fall, especially given they even rose slightly at the end of last year.

Andrey Zharkov, president of ALROSA, speaking to Interfax about keeping rough prices static at its January contract sale

MARKETS

United States: Diamond manufacturers increasing production as profitability returns due to lower rough prices and firm polished prices due to shortages. De Beers 2016 first sight period rough sales +118% to $540 from $248M at Dec. sight period...

Belgium: Sentiment improving as more orders are coming in. U.S. demand sustaining the market. Steady sales to smaller markets such as Turkey and Scandinavia. Buyers face competition for select supply as availability is scarce...

Hong Kong: Wholesale trading improving with firm prices due to shortages. Jewelers are buying to replenish stock sold during the holiday season with some buying for inventory...

India: Mixed sentiment in Mumbai as rupee depreciation (-3% in Jan. to 68/$1) weighs on domestic demand. Dealers more active than before and suppliers getting better prices due to shortages...

Israel: Rising optimism as trading continues to improve. Steady U.S. orders compensating for weak Chinese demand. Wholesalers slowly increasing inventory levels as they expect prices to firm in the coming weeks due to continued shortages...

Click here to continue reading

RAPAPORT STATEMENT

The Right Way Forward

De Beers is moving forward in the right direction by reducing rough prices sufficiently to enable increased sales of rough diamonds and a resumption of diamond manufacturing activity. This is evidenced by an increase in De Beers rough diamond sales by 118% from $248 million in the tenth sales cycle of 2015 to $540 million in the first cycle of 2016....

Click here to read the full statement

INDUSTRY

De Beers January Revenue Jumps to $540M

De Beers sold $540 million worth of rough diamonds in January signaling a significant rise in demand from December. The company published the monthly sales results for the first time, adding that its December sales amounted to $248 million.

The revenue figure includes sales to sightholders, its auction clients and internal sales to De Beers government and local partners. The company explained that demand for rough broadened across the entire product range as cutting and polishing factories began to ramp up activity.

Sightholders said De Beers reduced prices by more than 5% on average. The company has reverted to its default deferral policy allowing sightholders to defer one box every six months after offering more flexibility in the second half of last year, but has kept a 20% buybacks policy introduced during that period.

De Beers 2015 Sales Volume -40%

De Beers rough diamond sales slumped 40% to 20.6 million carats in 2015 as market weakness and lower diamond manufacturing levels took their toll.

The decline in sales volume coincides with a 12% drop in production to 28.7 million carats over the previous year as the miner reduced rough output in response to trading conditions, parent Anglo American said. The result is just shy of production guidance of about 29 million carats.

The overall reduction is mainly due to reduced output from Debswana, De Beers partner in Botswana, where production dropped 16% to 20.4 million carats.

ALROSA Keeps Prices Stable

ALROSA kept prices steady at its January contract sale stressing it sees no reason for prices to fall in current market conditions.

“We left prices unchanged because we see no reasons right now for them to fall, especially given they even rose slightly at the end of last year,” Andrey Zharkov, president of the Russia-based miner, was quoted as saying by the Russian news service Interfax.

Demand for rough in January was better than expected while supply levels did not increase, sources close to ALROSA explained to Rapaport News. The miner once again allowed buyers to defer up to 70 percent of goods at the sale as it did at the previous sale in December. Clients said all goods were sold at the sale.

Six More Arrested in GIA Hacking Case

Six more people have been arrested in relation to the hacking of Gemological Institute of America (GIA) diamond-grading reports by outside parties as the investigation into the case continues. A total of eight arrests have now been made.

The GIA has extended its submission date for the confirmation service for members of the trade concerned about the validity of their grading reports by two months to March 31, 2016. Holders of a GIA report originally issued between November 2014 and October 2015 who are concerned about its validity may submit the original report and the referenced diamond to any GIA location at no charge by the new deadline. To date only 297 of 1,042 invalidated reports have been returned.

Swiss Watch Exports -4% in December

Swiss watch exports declined 3.8 percent year on year to $1.71 billion (CHF 1.74 billion) in December as shipments to Hong Kong, the nation’s largest trade partner for the industry, continued to fall.

Exports to Hong Kong slumped 21 percent to $244 million, while shipments to the U.S. fell 5.5 percent to $158.9 million, according to the Federation of the Swiss Watch Industry.

Wristwatch exports decreased 3.1 percent to $1.63 billion compared with a year ago, while shipments of other timepieces slumped 17 percent to $82.4 million.

Synthetics Firm Lures High-Profile Cutters

Diamond Foundry, a synthetic-diamond company with financial backing from actor Leonardo DiCaprio and Silicon Valley entrepreneurs from Princeton and M.I.T, has made two high-profile appointments, including the inventor of the princess cut.

Israel Itzkowitz, who invented the now-popular diamond style in 1979, has joined the company as Master Cutter. Over the years, he has crafted designs for De Beers, Tiffany & Co. and Graff Diamonds.

Maarten de Witte, a master diamond cutter and “brand builder,” formerly known as the ‘Diamond Wizard’ at Hearts On Fire, has also joined the company.

IIa Denies Infringement of Element Six Patents

Lab-grown diamond producer IIa Technologies denied it infringed on patents owned by De Beers synthetics company Element Six and vowed to “challenge the validity” of the patents.

“We believe we are not in any way infringing on Element Six’s claims,” Vishal Mehta, IIa’s chief executive officer, said in a statement. “In addition, we will challenge the validity of their patents. IIa Technologies has entered its appearance in the High Court in Singapore and will vigorously defend itself.”

IIa was “exploiting Element Six patents for commercial gain,” potentially in both the industrial and jewelry sectors, the De Beers subsidiary alleged earlier this month.

World Diamond Congress to Focus on Transparency

The World Federation of Diamond Bourses (WFDB) will hold its 37th World Diamond Congress in Dubai from May 16 to 19, placing transparency, responsibility and sustainability at the heart of the summit’s agenda.

The meeting, a biennial gathering of the WFDB and the International Diamond Manufacturers Association (IDMA), will be attended by the WFDB’s 30 presidents and more than 200 industry representatives. The WFDB also aims to use the forum to galvanize support for generic marketing of diamonds through its World Diamond Mark initiative and create stronger links with the Diamond Producers Association.

RETAIL & WHOLESALE

Tiffany Announces $500M Stock-Buyback Program

Tiffany & Co.’s board of directors has approved a new stock buyback program under which the jewelry retailer can repurchase up to $500 million of the company’s common stock.

Tiffanys’ announcement comes after it unveiled a 6% drop in total sales in the two months to December 31, with performance hit by a strong U.S. dollar and lower levels of tourist spending. The company’s share price slid 7.3% during the week to January 21.

The new repurchase program replaces the company’s existing stock repurchase program announced in March 2014.

PC Jeweller's 3Q Revenue, Profit Soar

India-based PC Jeweller reported revenue on a standalone basis jumped 20% year on year to $320.3 million (INR 21.8 billion) in the third quarter that ended December 31 mainly because of surging domestic sales. Net profit for the quarter soared 34% to $21.5 million.

Revenue from within India grew 22% to $233 million compared with a year ago, while exports advanced 13% to $87.4 million, the online jewelry company said.

MINING

Petra Diamonds 1H Sales -28%

Petra Diamonds reported revenue slumped 28 percent year on year to $154 million in the first half that ended December 31. Excluding exceptional precious stones, sales dived 18 percent to $144 million.

Production rose 2 percent from a year ago to 1.6 million carats, above the company’s target of 1.5 million carats. Petra remains on track to reach its full-year output guidance of 3.3 to 3.4 million carats to June 30, 2016, the company said.

Lucapa Recovers Largest Lulo Diamond

Lucapa Diamond Company recovered a 133.4-carat diamond from its Lulo Diamond Project in Angola, the largest so far from the mine as it eclipsed a previous record of 131.4 carats set in 2012. The diamond is “not of high quality,” the miner said.

The discovery comes after heavy rains restricted access to the company’s planned mining areas during the fourth quarter to December 31. Lucapa assigned earth-moving equipment to higher-lying areas of interest to trial new mining blocks. One of these new areas was Mining Block 6. In the first few days, Lucapa recovered diamonds weighing 133.4 carats, 29.2 carats, 12.37 carats and 11.1 carats.

Murowa Mine Aims to Produce 1M Carats in 2016

Murowa Diamonds, a Zimbabwean mining business exited by Rio Tinto last year, wants to expand production fourfold this year, according to a Bloomberg report. The company will inject $60 million into the mine over the next four years, the report added.

“Our plan is to produce more than a million carats this year,” the news agency cited Lovemore Chimuka, a spokesman for the company, as saying. Production was 250,000 carats in 2015, he said. Rio Tinto sold its 78-percent stake in Murowa last June.

Stellar Finds 55-Carat Diamond at Baoulé Mine

Stellar Diamonds recovered a 55-carat gem at its Baoulé kimberlite pipe in Guinea, which the company claims as evidence that the mine is a potential source of large diamonds.

The stone appears to have a ‘boart’ – or fragmented – exterior and a potentially better-quality diamond on the interior, the West Africa-focused diamond-development company said.

BHP Billiton, Peregrine End Chidliak Royalty Deal

BHP Billiton Canada (BHPB) settled litigation with Peregrine Diamonds and ended a royalty agreement with the diamond miner related to the Chidliak project in Canada.

Under the royalty arrangement, Peregrine had granted BHPB 2% of future mineral production, including diamonds, from the Chidliak asset. A dispute between the companies arose in May 2015 in regard to BHPB’s transfer of the royalty to South32, a company formed when BHPB demerged.

GENERAL
Cindy Edelstein Passes Away

The jewelry world is mourning the passing of Cindy Edelstein, an entrepreneur, author, editor and long-time consultant to the industry, who died January 24 at the age of 51. The cause was heart failure, according to a post on Instoremag.com.

Edelstein began her career at JCK magazine and had a notable careers as a trade-show consultant and creator and writer and in 1991 founded the Jeweler's Resource Bureau with her husband, Frank Stankus, to highlight jewelry designers and their work. She won numerous awards and was a long-serving member of the board of the Women's Jewelry Association.


GIA Opens Expanded Botswana Facility

The Gemological Institute of America (GIA) opened an expanded laboratory and education facility in Gaborone, Botswana, January 19 to support its beneficiation efforts in the African nation by bringing value-added services to gem-producing countries. The expansion includes more classroom space.

The GIA is advancing its goal of making Gaborone the destination for industry-leading gemological education in Africa, it said.

London Bourse Releases Guide to Preventing Investment Scams

The London Diamond Bourse published consumer advice to prevent the public from becoming victims of “boiler-room” scams claiming to sell highly lucrative investment diamonds.

The advice, available on the public area of the London Diamond Bourse website, was developed by the gem exchange and the U.K.’s Insolvency Service. Simon Rainer, a former chief executive officer of the British Jewellers Association, was a consultant for the project.

7th Antwerp Diamond Trade Fair to Start Jan. 31

The 7th Antwerp Diamond Trade Fair (ADTF) will be held from January 31 to February 2 in the halls of the Antwerp Diamond Bourses.

As part of the three-day event, an “Antwerp Diamond Night” is scheduled for January 31. Two conferences will also be held: “Who is afraid of lab-grown diamonds?” organized by the International Gemological Institute, and another titled “What is luxury?”

ECONWATCH

Diamond Industry Stock Report

Anglo American (+24%) led mining shares this past week as subsidiary De Beers announced improved diamond sales. Signs of a recovery in the rough market also seem to have aided Stellar (+22%), Gem Diamonds (+20%), Petra (+14%), Mountain Province (+11%) and ALROSA (+8.1%). U.S. retailers were mainly stable or strengthened, led by J.C. Penney (+9.8%), after many had fallen the previous week. There were signs of improvement across Asia and Europe.

View the detailed industry stock report.
Jan. 28 (12:45 GMT) Jan. 21 (11:45 GMT) Chng.
$1 = Euro 0.92 0.92 0.001
$1 = Rupee 68.20 67.99 0.2
$1 = Israel Shekel 3.96 3.97 -0.01
$1 = Rand 16.30 16.69 -0.39
$1 = Canadian Dollar 1.41 1.45 -0.04

Precious Metals Chng.
Gold $1,119.68 $1,099.25 $20.43 1.9%
Platinum $881.23 $818.26 $62.97 7.7%
Silver $14.38 $14.03 $0.35 2.5%

Stock Indexes Chng.
BSE 24,469.57 23,962.21 507.36 2.1%
Dow Jones 15,944.46 15,766.74 177.72 1.1%
FTSE 5,942.66 5,697.07 245.59 4.3%
Hang Seng 19,195.83 18,542.15 653.68 3.5%
S&P 500 1,882.95 1,859.33 23.62 1.3%
Yahoo! Jewelry 996.92 969.60 27.32 2.8%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment February 4, 2016


All eyes on China as next week’s Spring Festival sets pace for jewelry sales. Polished trading improving as U.S. jewelers replenish stock following holiday season. Cutters increasing production after estimated $1B of rough enters the market in Jan. Concern that new polished supply may exceed demand. Shortages supporting prices as Jan. 1ct. RAPI +0.9%. LVMH 2015 jewelry & watch sales +19% to $3.7B, profit +53% to $482M. Titan 3Q sales +17% to $504M, profit +18% to $33M. Letšeng 4Q rough sales -5% to $64M, average price -1% to $2,117/ct. Belgium 2015 polished exports -9% to $13.1B, rough imports -25% to $11.1B.The Rapaport Group wishes all our friends a happy Chinese New Year.


RapNet Data: February 4

Diamonds 1,080,600
Value $7,955,958,970
Carats 1,237,170
Average Discount -27.81%

www.rapnet.com


The RapNet Diamond Index (RAPI) is the average price for the top 25 diamond qualities (D-H, IF-VS2). It is based on the 10 best priced diamonds for each quality.
Get Current Price List | Subscribe to Rapaport | Join RapNet

RAPAPORT ANNOUNCEMENTS
February 2-7 Tue-Sun
AGTA GemFair Tuscon

Tuscon, AZ, USA

View Details

February 2-10 Tue-Wed
Rapaport Melee Auction

New York & Dubai

View Details
February 10-17 Wed-Wed
Rapaport Single Stone Auction

New York & Israel View Details

Feb-Mar 22-4 Mon-Fri
Rapaport Melee Auction

New York & Hong Kong

View Details

QUOTE OF THE WEEK
The global diamond industry took a beating this year.

Ari Epstein, CEO of the Antwerp World Diamond Centre, on Belgium’s drop in rough and polished exports in 2015

MARKETS

United States: Jewelry retailers holding relatively large inventory with a lot of goods on memo. Positive sentiment with interesting designs at Miami Antique Show, Arizona Centurion Jewelry Show and AGTA GemFair in Tuscon...

Belgium: Dealers relatively positive and polished prices firm following De Beers January reduction in rough prices. Short-term outlook positive but some concern about possible excess supply when new polished enters the market...

Hong Kong: Diamond dealer and wholesale jewelry markets quiet with most businesses closed for the Chinese New Year Spring Festival that begins on Monday (Feb 8). Hong Kong wholesale market expected to shut down for the week and China for most of February...

India: Polished trading slows slightly as Hong Kong and Chinese wholesale buyers close for Chinese New Year vacation. Domestic Indian demand cautious as weak rupee (-2.6% from Jan. 1 to 68/$1) weighs on sentiment...

Israel: Positive sentiment continues after relatively good start to the year. Steady demand and shortages for RapSpec A2+ (3X, none) diamonds...

Click here to continue reading
INSIGHTS

Rough Market Enthusiasm

Demand for rough diamonds improved significantly in January, leaving many to wonder if the sudden upturn is sustainable. Manufacturers demanded more rough than was available as miners De Beers and ALROSA limited their respective supplies amid continued uncertainty in consumer demand…

Click here to continue readin

INDUSTRY

Polished Diamond Prices Rise in January

Polished diamond prices rose in January as shortages continue to support the market. U.S. demand is steady after a reasonably good holiday season, while China’s wholesale market slowed as the focus shifted to retail for the Chinese New Year Spring Festival starting on February 8.

The RapNet Diamond Index (RAPI™) for 1-carat, GIA-graded diamonds rose 0.9% in January. RAPI for 0.30-carat diamonds advanced 4.7% and RAPI for 0.50-carat diamonds grew 4.5%. RAPI for 3-carat diamonds fell 0.5%.

RAPI for 1-carat diamonds fell 4.4% from a year ago as manufacturers sought to reduce excess inventory in 2015.

Belgium’s 2015 Polished Exports -9%

Belgium’s polished diamond exports dropped 9.4% to $13.07 billion in 2015 as the global trade “took a beating” during the year, according to the Antwerp World Diamond Centre (AWDC). By volume, exports fell 7.1% to 6 million carats, while the average price dipped 2.4% to $2,251 per carat.

Total polished imports to Belgium declined 8.4% to $12.65 billion during the year as net polished exports, representing exports minus imports, dived 31% to $415.8 million. Rough imports slumped 25% to $11.13 billion and rough exports declined 27% to $11.5 billion. Net rough imports, representing imports minus exports, went from negative $744.3 million to negative $371.6 million during the year.

Belgium’s 2015 net diamond account, representing total polished and rough exports minus total imports, declined 41% to $787.4 million.

Forevermark's Lussier Appointed DPA Chairman

Stephen Lussier, chief executive officer of De Beers Group’s Forevermark brand, has taken over as chairman of the Diamond Producers Association (DPA) from Jean-Marc Lieberherr.

Lieberherr, who until recently was the managing director of Rio Tinto’s diamond division, became the DPA’s first chairman in October 2015, shortly after the body was set up. He stepped down from the role following his departure from Rio Tinto in January.

Lussier, a vice-president of marketing at De Beers, was the vice-chairman of the DPA under Lieberherr. Jim Pounds, an executive vice-president at Dominion Diamond Corporation, will revolve into Lussier’s former role at the DPA.

International Grown Diamond Association Launched

More than 10 lab-grown diamond producers, distributors and retailers have partnered to launch the International Grown Diamond Association (IGDA), claiming the group is the "first" industry body for the synthetics sector.

The association aims to represent the grown diamond industry, promote it as a new choice and educate consumers about their qualities and applications.


Shmuel Schnitzer Elected IDI Chairman

Former Israel Diamond Exchange president Shmuel Schnitzer has been elected chairman of the Israel Diamond Institute Group of Companies (IDI).

Schnitzer recently completed his fourth term as IDE president and replaces Moti Ganz, who served three terms as chairman of the IDI, a non-profit company representing institutions in the diamond industry.

RETAIL & WHOLESALE

U.S. Jewelry Sales +2% in 2015

U.S. jewelry sales from all retail outlets increased 2% to $66.41 billion in 2015. Watch sales advanced 2.6% to $8.72 billion compared with the previous year, according to provisional figures released by the Bureau of Economic Analysis. Sales of jewelry and watches combined totaled $75.14 billion, a 2.1% increase over 2014.

In the final month of 2015, jewelry sales increased 2% year on year to $13.27 billion, according to Rapaport News estimates. Watch sales increased 2.6% to $1.76 billion. Jewelry and watch sales combined increased 2.1% to $15.03 billion.

LVMH’s 2015 Jewelry Sales +19%

LVMH Moët Hennessy Louis Vuitton reported watch and jewelry revenue grew 19% to $3.69 billion (EUR 3.31 billion) in 2015 over the previous year on stronger Bulgari results and a successful refocusing of TAG Heuer. Taking into account exchange-rate fluctuation and with a “comparable structure,” sales in the jewelry and watch division advanced 8%.

Profit from recurring operations in the watches and jewelry division surged 53% to $481.8 million while the operating margin improved by 2.9 percentage points to 13.1%.

Christie’s Jewelry Sales Drop

Christie’s jewelry sales from live auctions and ecommerce slumped to $624.1 million in 2015 from $754.7 million that the auction house reported in the previous year. Jewelry revenue declined at a faster rate than the company’s flagship art business.

Art sales dipped 5% in to $7.4 billion (GBP 4.8 billion) but still achieved the second highest total in company history.

Titan’s 3Q Revenue +17%

India-based jeweler Titan Company reported revenue increased 17% year on year to $504.6 million (INR 34.26 billion) in the third quarter that ended December 31 as retail sales improved during the festive season.

The strong result was mainly because of 20% growth in jewelry sales to $415.3 million from a year ago, Titan’s managing director Bhaskar Bhat explained. Watch sales increased 8.2% to $70.5 million. Profit after tax during the quarter jumped 18% to $33.2 million.

Tiffany in Deal to Sell Fragrances

Tiffany & Co. has announced a licensing deal with global beauty company Coty to sell fragrances at the jeweler’s stores and other select luxury retailers. The two companies will develop, produce and distribute Tiffany fragrances for men and women.

Founded in Paris in 1904, Coty’s portfolio includes well-known fragrances, color cosmetics and skin and body care products sold in more than 130 countries and territories.

Richemont Buys Remaining 40% of Roger Dubuis

Switzerland-based luxury group Richemont acquired the 40% of watchmaker Roger Dubuis it did not already own, Reuters reported.

"We now own 100% of Roger Dubuis," the news agency cited Richemont spokeswoman Sophie Cagnard as saying. Richemont and Roger Dubuis declined to comment on the sale price, the report said January 22. Richemont purchased a 60% stake in 2008 for an undisclosed amount.

Amazon’s Profit Disappoints

Amazon reported sales surged 22% year on year to $35.7 billion in the fourth quarter that ended December 31. Excluding the unfavorable impact of exchange-rate fluctuation, sales surged 26%. Sales were within guidance of $33.5 billion to $36.75 billion issued ahead of the holiday quarter but profit reportedly fell short of many analysts’ expectations.

Net income for the quarter more than doubled to $482 million with diluted earnings per share of $1 compared to 45 cents a year earlier. Analysts estimated the retailer would earn $1.56 a share during the quarter, The New York Times reported.

BaubleBar Gets $20M Funding

Online jewelry retailer BaubleBar has raised $20 million of new funding from investors, according to a report by technology news site TechCrunch.

The ecommerce outfit, known for its ‘fast fashion’ approach to jewelry that involves reacting quickly to trends, closed on funding from existing investors Accel Partners, Greycroft Partners, Burch Creative Capital and Aspect Ventures and new investors including Hubert Burda Media and DSW, according to the report.

MINING

ALROSA’s 2015 Production +6%

ALROSA’s production increased 6% year on year to 38.3 million carats in 2015. The company sold 30 million carats of diamonds in 2015, which was 24% below the 39.5 million carats sold in 2014, according to Rapaport records. Revenue from rough sales are expected to be at least $3.4 billion.

In the final quarter of 2015, ALROSA’s production decreased 18% year on year to 8.6 million carats. The company sold 7.1 million carats during the period, including 4.1 million of gem-quality diamonds at an average price of $166 per carat.

Gem Diamonds’ 4Q Letšeng Sales Drop

Gem Diamonds sold $64.3 million worth of stones from its Letšeng mine in Lesotho in the fourth quarter that ended December 31. The figure was 5% below the $67.7 million reported by the company a year earlier. The average price achieved, including carats extracted at rough value for polishing, fell 1.1% year on year to $2,117 per carat from two Letšeng tenders held during the period.

The company sold 30,357 carats during the quarter, 4% fewer than a year before. Production from the mine increased 14% to 29,100 carats.

For 2015 as a whole, sales from Letšeng decreased 15% $236.3 million compared with 2014.

BlueRock Approves Acquisition of Diamond Resources

BlueRock Diamonds has approved the purchase of Diamond Resources from Tawana Resources. Diamond Resources is a non-trading company which holds the ‘rehabilitation guarantee’ required in relation to the Kareevlei project in South Africa, which BlueRock acquired from the same seller in 2013.

BlueRock, which is quoted on the Alternative Investment Market of the London Stock Exchange, also purchased an intercompany loan of $1.3 million (ZAR 21.5 million) owed by Diamond Resources to Tawana which is expected to be eliminated on consolidation in the company's accounts. BlueRock paid $43,556 for the shares in Diamond Resources and the loan, a statement said.

GENERAL

Marketing Panel to be Held at IDWI

The Israel Diamond Exchange (IDE) will host a marketing panel discussion on February 15 at 4 p.m. featuring high-profile figures from the diamond and jewelry industry at the upcoming International Diamond Week.

Panelists at the event will be Jean-Marc Lieberherr, former chairman of the Diamond Producers Association (DPA); Alex Popov, chairman of the World Diamond Mark Foundation (WDM); Patricia Syvrud, executive director of the World Diamond Council; and renowned jewelry designer Stephen Webster, who is also the guest of honor at the International Diamond Week in Israel.


Jewelry Industry Summit Unveils Speaker List

The Jewelry Industry Summit has released its roster of speakers who will participate in the three-day forum on sustainability and responsible sourcing.

The event will be held at the Fashion Institute of Technology in New York from March 11 to 13.

DEF Unveils New Officers, Board Members

The Diamond Empowerment Fund (DEF) has announced a new slate of officers and new board members.

Phyllis Bergman, chief executive officer of Mercury Ring, continues as president for 2016. Ed Hrabak, chief operating officer of Signet Jewelers, has been elected vice president. Yancy Weinrich, group vice president of JCK, was elected secretary and Rich Slomovitz, chief financial officer of Rush Communications, remains treasurer.

ECONWATCH

Diamond Industry Stock Report

Mining stocks continued to perform strongly this past week, led by ALROSA (+11%) and Anglo American (+9.9%). U.S. retail stocks generally grew in value, headed by J.C. Penney (+11.5%). In the Far East, performances were mixed, with ValueMax Group (-5.3%), Sarine (-4.8%) and Chow Sang Sang (-4.5%) all declining. Indian stock mostly had a tough week, with drops led by Goldiam International (-11.4%).

View the detailed industry stock report.
Feb. 4 (10:40 GMT) Jan. 28 (12:45 GMT) Chng.
$1 = Euro 0.89 0.92 -0.022
$1 = Rupee 67.69 68.20 -0.5
$1 = Israel Shekel 3.91 3.96 -0.05
$1 = Rand 15.86 16.30 -0.44
$1 = Canadian Dollar 1.37 1.41 -0.04

Precious Metals Chng.
Gold $1,146.21 $1,119.68 $26.53 2.4%
Platinum $888.99 $881.23 $7.76 0.9%
Silver $14.77 $14.38 $0.39 2.7%

Stock Indexes Chng.
BSE 24,338.43 24,469.57 -131.14 -0.5%
Dow Jones 16,336.66 15,944.46 392.20 2.5%
FTSE 5,923.65 5,942.66 -19.01 -0.3%
Hang Seng 19,183.09 19,195.83 -12.74 -0.1%
S&P 500 1,912.53 1,882.95 29.58 1.6%
Yahoo! Jewelry 993.20 996.92 -3.72 -0.4%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment February 11, 2016


Polished trading slows as Chinese buyers vacation over Lunar New Year. Consumer demand slow but steady with concerns that sluggish global economy and weak stock markets will lead to negative wealth effect. Shortages supporting prices for specific goods which are in demand. Large volume of new polished expected in 2Q after Jan. rough buying spree. Botswana’s 2015 rough exports -39% to $2.4B. Rio Tinto’s 2015 diamond sales -23% to $698M, earnings +32% to $104M. Asian Star 3Q revenue -3% to $102M, profit -25% to $2M. Blue Nile 4Q sales -5% to $150M, profit +4% to $5M. U.S. 2015 polished imports -4% to $23.1B, exports -12% to $18.3B. De Beers to launch grading at UK lab on March 1.


RapNet Data: February 11

Diamonds 1,085,796
Value $7,869,567,573
Carats 1,223,918
Average Discount -27.82%

www.rapnet.com


The RapNet Diamond Index (RAPI) is the average price for the top 25 diamond qualities (D-H, IF-VS2). It is based on the 10 best priced diamonds for each quality.




Get Current Price List | Subscribe to Rapaport | Join RapNet



RAPAPORT ANNOUNCEMENTS
February 10-22 Wed-Mon
Rapaport Single Stone Auction

New York & Israel

View Details February 14-18 Sun-Thu


International Diamond Week

Ramat Gan, Israel

View Details
Feb-Mar 22-4 Mon-Fri
Rapaport Melee Auction

New York & Hong Kong View Details

March 9-16 Wed-Wed
Rapaport Single Stone Auction

New York & Israel View Details

QUOTE OF THE WEEK
We sold a record number of engagement rings, expanded gross margin rate, and drove success in our new Webroom. As we look out on 2016, we will push harder on elements that are working: engagement ring units, wedding band attach rates, continued expansion of margin, and the Webroom concept.

Blue Nile chairman, CEO and president Harvey Kanter on fourth-quarter results

MARKETS


United States: Polished trading is steady and dealers maintain a positive outlook. New York prices are firm with limited supply in select categories of RapSpec A2 (3X, none) that are in demand...

Belgium: Antwerp cautious as dealers are uncertain in which direction the market is heading. Demand is okay but market prices are relatively high due to shortages, particularly for smaller goods...

Hong Kong: Diamond markets closed for the Chinese New Year vacation. Hong Kong dealers expected to start returning next week, while Chinese market is shut down through most of February...

India: Polished trading slowed slightly as Hong Kong and China went on vacation. U.S. demand consistent and supporting the market. Domestic demand cautious with weak rupee (-2.6% to 67.9/$1 in 2016) affecting confidence and adding to local expenses...

Israel: Trading slowed slightly with Chinese buyers on vacation for the Lunar New Year. U.S. demand is steady. Some foreign buyers in Ramat Gan looking for goods in anticipation of next week’s International Diamond Week...

Click here to continue reading

INSIGHTS
Organized Synthetics

The natural diamond trade should welcome the establishment of the International Grown Diamond Association (IGDA) announced last week even though it may actually serve as a wake-up call for the industry…

Click here to continue reading

INDUSTRY
U.S. Polished Imports -4% in 2015

Polished imports to the U.S fell 4% to $23.1 billion in 2015 after the trade registered a relatively slow end to the year. By volume, polished imports dropped 5% to 11.125 million carats, while the average price of the imports rose 1% to $2,076 per carat, according to provisional government data.

Polished exports by the U.S. dropped 12% to $18.32 billion, taking net polished imports – imports minus exports – to $4.78 billion, a jump of 53% from the previous year.

Botswana’s Export Slump Weighs on Economic Growth

A slump in global demand for diamonds hit Botswana’s economic growth as exports of rough diamonds fell 39% to $2.41 billion in 2015, according to provisional data published by the Bank of Botswana.

“The continued slowdown of growth in the global economy, particularly in the major markets for our diamonds, has had profound impact on the domestic economy,” Kenneth Matambo, Botswana’s minister of finance and development planning, said in his budget speech for 2016 on February 1.

De Beers to Launch Non-Forevermark Grading from U.K. Lab

De Beers will offer grading of non-Forevermark diamonds from its U.K. laboratory for the first time from March 1 as the company expands a service currently existing in Antwerp and Surat.

The miner’s research company, International Institute of Diamond Grading & Research (IIDGR), will open up the general grading service to the entire trade including retailers and those outside the U.K. It will include IIDGR’s Diamond Grading Reports and the more concise Diamond Identification Report. The service has been running in Belgium since 2012 and in India since mid-2015.

Fancy Color Diamond Prices Rise

Fancy color diamond prices increased 0.3% on average during the fourth quarter of 2015 as better-than-expected holiday sales outweighed sluggish Asian demand, according to the Fancy Color Diamond Index. Lower supply from diamond producers have led to a shortage of fancy yellow gems.

Prices for the fancy yellow segment performed the strongest, increasing 1.1%, the Fancy Color Research Foundation said. Within the yellow category, 3-carat diamonds demonstrated a 2.7% price increase and 5-carat stones rose 4.4%, likely driven by low availability in rough tenders.

Asian Star’s 4Q Revenue -3%, Profit -25%

India-listed Asian Star reported quarterly revenue declined 2.6% year on year to $101.7 million (INR 6.9 billion) in the three months that ended December 31. Profit slumped 25% to $2.2 million.

Diamond sales slipped 0.5% to $889.9 million during the quarter. Jewelry sales totaled $17.8 million, representing a 12% decrease over a year before, the diamond manufacturer and De Beers sightholder said.

American Gem Society CEO to Retire

Ruth Batson, chief executive officer of the American Gem Society (AGS) and AGS Laboratories, will retire after 23 years, with her departure scheduled for the summer of 2017. The AGS board of directors will form a committee to hire a new CEO.

“Ruth will participate in the search and onboarding process of the new CEO,” said Louis Smith, AGS president. “We are confident that we will find a great successor to guide the organization forward. Ruth has generously provided us with ample time to make a seamless transition."

WJA Names 2016 Hall of Fame Honorees

The Women’s Jewelry Association has named its Hall of Fame honorees for the association’s annual Awards for Excellence gala scheduled for July 25 at the Hammerstein Ballroom in New York.

Sissy Jones, owner of Sissy's Log Cabin, will receive the Lifetime Achievement Award; Peter Engel, president of Fred Meyer Jewelers, will receive the Ben Kaiser Lifetime Achievement Award; and longstanding jewelry retailer Ben Bridge Jeweler will receive the Corporate Award.

Scio Diamond Gets 28th Patent for Lab-Grown Stones

Scio Diamond Technology Corporation, a producer of lab-grown diamonds, got its 28th patent for gemstone production from chemical vapor deposition (CVD) diamond plate.

The company creates high-quality, type-IIa, single-crystal diamonds in a controlled laboratory setting, it said. Its diamonds are used in jewelry and for industrial applications.

RETAIL & WHOLESALE

Blue Nile’s 4Q Sales -5%

Blue Nile reported net sales fell 4.8% year on year to $150 million in the fourth quarter that ended January 3 because of continued weakness in high-ticket purchases and foreign currencies. Selling prices for core engagement products slipped.

U.S. engagement net sales declined 7.7% to $78.4 million, while U.S. non-engagement net sales retreated 0.3% to $48.7 million.

Profit rose 4.3% as the cost of sales was cut 6.2% to $120.9 million. The online jewelry seller announced a first-ever dividend of $0.70 per share.

Pandora Closes 1,422 Unbranded Stores in 2015

Pandora closed 1,422 unbranded stores in 2015 and increased its focus on branded and concept stores, as total revenue for the year grew 40%. The Denmark-based jeweler opened a net total of 392 concept stores during the year, including 136 in the fourth quarter that ended December 31.

Revenue from concept stores increased 54% to $1.57 billion (DKK 10.4 billion), while total branded stores – which include concept stores – advanced 45% to $2.24 billion.

Total company revenue for the year soared 40% to $2.52 billion on strong growth across the major regions and product groups. Net profit increased 19% to $554 million.
Kohl’s 4Q Sales Steady

Department-store chain Kohl’s Corporation reported comparable sales increased 0.4% in the fourth quarter to January as a stronger holiday season from Thanksgiving week to Christmas was offset by a slow start to the period and a weaker-than-expected January. Total sales increased 0.8%.

The company lowered its earnings guidance because of lower fourth-quarter sales and gross margin than planned.

MINING

Rio Tinto’s 2015 Diamond Sales -23%

Rio Tinto reported diamond revenue slumped 23% to $698 million in 2015 as market conditions drove down rough prices. Lower demand from India and China, higher rough and polished inventory and lower trade manufacturing margins forced prices to dip.

Diamond production fell 25% to 17.4 million carats. Rio Tinto forecast output to increase 21% to 21 million carats in 2016.

‘Lesedi La Rona’ Chosen as Name for World's Second-Largest Diamond

The 1,111-carat diamond recovered by Lucara Diamond Corp. in Botswana in November has been named ‘Lesedi La Rona’ following a competition among locals to label the gem.

The name, which means ‘Our Light,’ was given by Thembani Moitlhobogi, the winner of a $2,196 (BWP 25,000) prize, according to a Lucara statement February 9. The contest was only open to Botswanan citizens, including the miner’s employees.

The type-IIa gem was the largest diamond ever recovered in Botswana and the second largest ever found in the world.

Lucara Schedules First 2016 Exceptional Stone Tender

Lucara Diamond Corp. will hold its first exceptional stone tender of 2016 from April 4 to 13 in Gaborone, Botswana. The tender will feature ten diamonds with a combined weight of 1,525 carats, including a 296-carat, type-IIa gem.

The event will not feature any of the three exceptional diamonds recovered in November that included a 1,111-carat, type-IIa stone from the Karowe mine in Botswana, the second largest diamond in history.















GENERAL



Italy’s Fiera di Vicenza Mulls Listing

The Italian company behind the annual VicenzaOro jewelry show is considering listing its shares on the Milan Stock Exchange.

Fiera di Vicenza’s board of directors told shareholders it was considering the move at a meeting of investors February 3, according to a statement. A stock-market flotation is “supported by strategic and economic objectives.”







Madoff Jewelry Up for Auction Online

Jewelry and watches formerly owned by convicted fraudster Bernie Madoff and his wife Ruth are being auctioned online by Texas-based company Gaston & Sheehan Auctioneers.

Items on offer include two Patek Philippe timepieces, with latest bids of $30,200 and $24,544 as of February 8, according to listings on the auctioneer’s website. An 18-karat white-gold bracelet by Sabbadini in Milan set with 654 round diamonds, with an approximate total weight of 48.11 carats, had a bid of $26,205. Bidding ends February 16.

JAPAC Raises Over $25K in 2015

Jewelers of America Political Action Committee (JAPAC) raised $26,680 in 2015 to support its advocacy efforts in Washington DC, according to Jewelers of America (JA).

“JAPAC gives the jewelry industry a platform to have a collective voice on issues,” said Jenny Caro, JAPAC chair and co-owner of Jewelry By Designs in Woodbridge, Virginia. “These funds are an important tool in preparing JAPAC for the essential 2016 election year.”

ECONWATCH
Diamond Industry Stock Report

U.S. and European retail stocks had a tough week, with drops led by Birks Group (-21%), Kohl's (-22%), Damiani (-15.5%) and Charles & Colvard (-14%) as major stock indexes around the world declined. Mining stocks generally dipped, led by Rockwell Diamonds (-14%), but there were improvements for Stornoway Diamond (+5.5%), Mountain Province (+3.1%) and Anglo American (+3%).

View the detailed industry stock report.
Feb. 11 (11:41 GMT) Feb. 4 (10:40 GMT) Chng.
$1 = Euro 0.88 0.89 -0.012
$1 = Rupee 68.42 67.69 0.7
$1 = Israel Shekel 3.89 3.91 -0.02
$1 = Rand 15.91 15.86 0.05
$1 = Canadian Dollar 1.40 1.37 0.03

Precious Metals Chng.
Gold $1,218.40 $1,146.21 $72.19 6.3%
Platinum $939.33 $888.99 $50.34 5.7%
Silver $15.45 $14.77 $0.68 4.6%

Stock Indexes Chng.
BSE 22,951.83 24,338.43 -1,387 -5.7%
Dow Jones 15,914.74 16,336.66 -421.92 -2.6%
FTSE 5,553.04 5,923.65 -370.61 -6.3%
Hang Seng 18,545.80 19,183.09 -637.29 -3.3%
S&P 500 1,851.86 1,912.53 -60.67 -3.2%
Yahoo! Jewelry 966.43 993.20 -26.77 -2.7%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
http://www.novinky.cz/koktejl/394942-v-angole-nasli-jeden-z-nejvetsich-diamantu-v-historii.html
Registrovaný uživatel
Rapaport Weekly Market Comment February 18, 2016


TRADE CAUTION: The recent surge of rough diamond prices on the secondary market is dangerous and unsustainable. Current polished price levels reflect artificial shortages created by 42% decline of rough supplies in 2H 2015. Production now normalizing which will soon significantly increase polished supply while overall demand remains weak. Chow Tai Fook Lunar New Year sales -29%. De Beers 2015 earnings -72% to $258M, revenue -34% to $4.7B, rough sales -36% to $4.1B, 2H rough sales -53% to $1.4B. ALROSA 2015 rough sales estimated -30% to $3.4B, 2H -26% to $1.6B. Gitanjali 3Q sales -2% to $499M, profit -18% to $12M. Jean-Marc Lieberherr appointed CEO of Diamond Producers Association.


RapNet Data: February 18

Diamonds 1,102,974
Value $7,857,697,357
Carats 1,231,328
Average Discount -27.95%

www.rapnet.com


The RapNet Diamond Index (RAPI) is the average price for the top 25 diamond qualities (D-H, IF-VS2). It is based on the 10 best priced diamonds for each quality.

Get Current Price List | Subscribe to Rapaport | Join RapNet

RAPAPORT ANNOUNCEMENTS
Feb-Mar 22-4 Mon-Fri
Rapaport Melee Auction

New York & Hong Kong

View Details
March 1-5 Tue-Sat
Hong Kong International Diamond, Gem & Pearl Show

Hong Kong

Booth: AWE 2-U10 & AWE MR201B-01

View Details
March 9-16 Wed-Wed
Rapaport Single Stone Auction

New York & Israel

View Details March 17-22 Thu-Tue
Rapaport Rough Tender

Surat, India View Details

QUOTE OF THE WEEK
We are asking our suppliers to carefully map their supply chains more rigorously than ever before.

Mark Light, chief executive officer of Signet, on the jeweler's new Signet Responsible Sourcing Protocol for Diamonds

MARKETS

United States: New York polished prices remain firm despite slowdown in trading volume.Wholesalers are selling off old inventory and trading is driven by orders for specific goods rather than inventory purchases...

Belgium: Polished trading is quiet. Dealers are more positive about the market than they were toward the end of last year even as trading is slow...

Hong Kong: Polished trading quiet as dealers slowly return from Chinese New Year. Initial reports about the holiday season were weak as tourist arrivals fell and political unrest weighed on sentiment...

India: Market remains relatively slow with Chinese buyers still on vacation for Chinese New Year. Trading expected to improve in the coming weeks as dealers prepare for the Hong Kong show...

Israel: Mixed sentiment during International Diamond Week (Feb. 14-18). Lots of offers but few deals as suppliers hold prices firm. Difficult to find the right goods at the right price...

Click here to continue reading

INDUSTRY

Signet Unveils Responsible Sourcing Protocol

Signet Jewelers launched a responsible diamond sourcing protocol that it claims will increase transparency and improve the integrity of the global supply chain.

The U.S.-based jeweler, the world’s largest retailer of diamond jewelry, developed the Signet Responsible Sourcing Protocol for Diamonds (D-SRSP) with input from exporters in the diamond industry, civil society and governments.

The protocol requires suppliers to undertake due diligence on the sources of the diamonds they deliver to Signet. The company envisages it becoming an accepted industry reference for responsibly sourced diamonds.

Ex-Rio Tinto Diamonds Chief Takes CEO Role at DPA

Former Rio Tinto diamond chief Jean-Marc Lieberherr will take on the role of chief executive officer of the Diamond Producers Association (DPA). Lieberherr was previously chairman of the DPA until his recent exit from Rio Tinto, where he was managing director of the miner’s diamond business.

The DPA chairmanship will be taken by Stephen Lussier, executive vice president of marketing at De Beers and chief executive officer of the Forevermark brand. Jim Pounds, executive vice president for diamonds at Dominion Diamond Corporation, has been appointed vice chairman of the association.

Swiss Watch Exports Continue Decline

Swiss watch exports continued to decline in January as shipment numbers to Hong Kong and the U.S., the industry’s largest trade partners, showed little sign of improving.

Exports fell 7.9% year on year to $1.53 billion (CHF 1.52 billion) during the month, according to the Federation of the Swiss Watch Industry. Shipments to Hong Kong tumbled 33% to $207.6 million in January, its 12th consecutive month of steep decline. Exports to the U.S. fell 14% to $159.8 million, dropping for the fifth consecutive month.

Gold Demand Steady in 2015

Global gold demand in 2015 was virtually flat compared to 2014 at 4,212 tonnes as a strong second half compensated for a challenging start to the year, according to the World Gold Council (WGC). Sustained buying from central banks and a strong second half from China and India caused demand to rebound in the last six months.

Overall jewelry demand for the year fell 3% to 2,415 tonnes. While the year started slowly, the third and fourth quarters combined showed the strongest second-half total for gold jewelry in 11 years.

UAE ‘Ready to Back Venezuela’s KP Return’

The United Arab Emirates (UAE) is prepared to support Venezuela’s attempt to return to the Kimberley Process (KP), The National reported, citing Ahmed Bin Sulayem, the chairman of the Dubai Multi Commodities Centre (DMCC) and the new chairman of the KP.

Venezuela suspended itself from the Kimberley Process Certification Scheme in 2008 after diamantaires in the country were accused of trafficking in uncertified diamonds to evade domestic export taxes.

RETAIL & WHOLESALE

Chow Tai Fook’s Chinese New Year Sales -29%

Chow Tai Fook reported a 29% decline in retail sales during the Chinese New Year period compared with a year ago as consumers in Mainland China shopped outside the country over the festive season.

Sales on the mainland between January 25 and February 14 plunged 30% versus the equivalent period in 2015 as locals traveled and spent money overseas. Hong Kong and Macau sales declined 23% because of a drop in tourist numbers to Hong Kong from the mainland and the continued weak retail sentiment in the region.

Blue Nile to Expand Bricks-and-Mortar Presence

Blue Nile will open a second ‘Webroom’ at the Westchester Mall in White Plains, New York, enabling visitors to view products and place orders in-store with the help of non-commissioned consultants.

Development of the location is underway, with the site expected to launch by early summer, the online jewelry retailer said. The company opened its first Webroom at the Roosevelt Field Mall in Garden City, New York, in June 2015. It plans to open four new Webrooms this year.

Michael Hill’s 1H Revenue +10%

Michael Hill reported group-wide first-half revenue jumped 9.7% year on year to $221.1 million (AUD 310.8 million). Same-store sales rose 5.4% in the six months that ended December 31. Profit for the period climbed 5.1% to $17.7 million from a year ago.

Sales in Australia, the jeweler’s largest regional sector, advanced 4.2% in local currency, while same-store sales increased 3.4%.

Gitanjali’s 3Q Revenue, Profit Dip

India-based Gitanjali Gems reported revenue declined 1.5% year on year to $499 million (INR 34 billion) in the third quarter that ended December 31 as a slump in diamond sales outweighed an increase in jewelry revenue.

The company sold diamonds worth $120.1 million during the three months, a 20% decline over a year ago, the Mumbai-listed jeweler said. Net profit for the period fell 18% to $11.6 million.


Tara Jewels’ 3Q Sales Rise 13%

India-based Tara Jewels reported sales increased 13% year on year to $83.6 million (INR 5.69 billion) in the third quarter that ended December 31. Net profit for the period advanced 2.9% to $2.4 million.

Sales in the nine months to December 31 rose 1.7% year on year to $180.2 million.

Signet to Cancel London Listing

Signet Jewelers announced it plans to delist from the London Stock Exchange (LSE) because of a lack of liquidity for its shares on the exchange and to streamline administration and cut costs associated with maintaining two listings.

The board reviewed the company’s stock-exchange listings last year and found the total trades placed on the LSE in the whole of 2014 equaled around five days of trading on U.S. exchanges.

MINING

De Beers 2015 Earnings -58%

De Beers underlying earnings before interest and tax (EBIT) slumped 58% to $571 million in 2015 as demand for rough diamonds weakened and revenue fell.

Tighter operating cost control and favorable exchange rates partly offset the negative impact, with the consolidated unit cost declining to $104 per carat from $111 per carat.

Total revenue dived 34% to $4.67 billion as rough-diamond sales plunged 36% to $4.1 billion. The remaining $571 million was mostly generated by the Element Six industrial diamond business, as well as the Forevermark brand.

Lucapa Finds ‘Angola’s Largest Diamond’

Lucapa Diamond Company said it has recovered the largest recorded diamond ever found in Angola.

The 404.2-carat gem has been confirmed as a “top-tier,” type-IIa, D-color diamond, the miner said. It was recovered from alluvial mining at Mining Block 8 at the company’s Lulo Diamond Project in the African nation.

Gemfields’ Emerald, Beryl Production +41%

Gemfields reported emerald and beryl production from the Kagem mine in Zambia surged 41% year on year to 8.2 million carats in the quarter that ended December 31.

Ruby and corundum output from the miner's Montepuez deposit in Mozambique slumped 53% to 1.6 million carats.

ALROSA Recovers 122-Carat Diamond

ALROSA recovered a 121.96-carat diamonds from its Jubilee kimberlite pipe in Russia. The stone was extracted by the company’s business unit Aikhal Mining and Processing Division (MPD) at processing plant No.14.

The diamond has an octahedral shape with dimensions of 31.28 х 30.00 х 28.57 mm and is transparent with moderate yellowish hue, according to a statement February 11. The diamond has small olivine, graphite and sulphide inclusions in the crystal.

De Beers to Axe 189 Jobs in South Africa

De Beers will cut 189 jobs in South Africa as part of a restructuring aimed at reducing overheads in the country.The miner will axe 121 positions at its corporate offices in Kimberley and Johannesburg as well as at the Venetia Mine the Venetia Underground Project in the Limpopo province. Another 68 roles may be reduced through natural attrition rather than layoffs.

De Beers Consolidated Mines, the company’s South African mining subsidiary, has shrunk over the past two years, and the business cannot maintain its current overheads designed for a much larger company, it said.

GENERAL

VICENZAORO Visitors +5% to 35K

Total traffic at the VICENZAORO January trade show rose 5% to more than 35,000 visitors as international interest increased, according to the event’s organizers.

The fair in Vicenza, Italy, which was held from January 22 to 27, saw 19,381 buyers turn up, with 5% growth in the number of buyers from outside Italy to 8,774 from 130 countries, Fiera di Vicenza said. Italian operator numbers increased 4.3% to 10,607, indicating a possible recovery of the domestic market, the company said.

Numbers Up at AGTA GemFair Tucson

The 2016 AGTA GemFair Tucson from February 2 to 7 saw a “significant” increase in attending companies, with more buyers using preregistration, the show organizers said.

“This was one of the best shows we’ve ever had,” said Douglas Hucker, chief executive officer of AGTA. “The buzz about this show started a few months ago, and continued straight through to closing day. I honestly can’t remember a show where everyone I saw, from exhibitors to buyers, walked around with a smile on their face all day long.”

IDE Signs MoU with Hong Kong Jewelry Body

Israel Diamond Exchange president Yoram Dvash signed a memorandum of understanding (MoU) with his counterpart at the Jewellery Manufacturers Association of Hong Kong, Adam Lau, to increase cooperation between the two organizations.

The MoU was signed at the IDE trading hall during the sixth edition of International Diamond Week in Israel, which ended February 18.

International Diamond Week also saw the launch of the Israel Diamond Jewelry Association, the opening of the Diamond Technology Zone in the IDE as well as the launch of the Gemological Institute of America (GIA) laboratory in Israel. Dvash also signed an agreement to collaborate with the Istanbul Chamber of Jewelry.

AGTA Amends Code of Ethics

The American Gem Trade Association (AGTA) made amendments to its Code of Ethics and Principles of Fair Business Practice while recommending a new language to deal with source disclosure in commercial documents.

The amendments are related to due diligence such as requesting disclosure of treatments to gemstones, submitting new, unknown or questionable material to a reputable laboratory and responsible sourcing.

Separately, the new source-disclosure wording for commercial documents comprises a statement that the seller has no reason

ECONWATCH
Diamond Industry Stock Report

Anglo American (+43%) led resurgent mining stocks this past week. In the Far East, Sarine (-7.3%), Chow Tai Fook (-2.8%) and ValueMax Group (-1.9%) declined, although the Hang Seng rose 4.4%. U.S. retail stocks generally climbed but Birks Group (-11.5%) and Blue Nile (-11%) lost value.

View the detailed industry stock report.
Feb. 18 (12:25 GMT) Feb. 11 (11:41 GMT) Chng.
$1 = Euro 0.90 0.88 0.018
$1 = Rupee 68.50 68.42 0.1
$1 = Israel Shekel 3.90 3.89 0.01
$1 = Rand 15.39 15.91 -0.52
$1 = Canadian Dollar 1.37 1.40 -0.03

Precious Metals Chng.
Gold $1,205.47 $1,218.40 -$12.93 -1.1%
Platinum $941.00 $939.33 $1.67 0.2%
Silver $15.27 $15.45 -$0.18 -1.2%

Stock Indexes Chng.
BSE 23,649.22 22,951.83 697.39 3.0%
Dow Jones 16,453.83 15,914.74 539.09 3.4%
FTSE 6,015.41 5,553.04 462.37 8.3%
Hang Seng 19,363.08 18,545.80 817.28 4.4%
S&P 500 1,926.82 1,851.86 74.96 4.0%
Yahoo! Jewelry 1,071.27 966.43 104.84 10.8%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment February 25, 2016


Polished trading quiet as dealers prepare for Hong Kong show (March 1-7). Rising expectations for Far East demand despite weak Chinese jewelry sales. Prices holding steady as sellers await outcome of show. Rough demand firm during De Beers sight. Dominion 4Q sales -26% to $178M. Petra Diamonds 1H revenue -28% to $154M, loss of $2M vs. profit of $39M a year ago. Lucara 4Q revenue -8% to $65M, profit of $19M vs. loss of $17M. India Jan. polished exports -42% to $1B, rough imports +16% to $991M. Belgium Jan. polished exports -5% to $772M, rough imports -13% to $730M. MID tops Israel’s 2015 diamond exporter list. Rapaport launches Investment Diamond Grading Report (www.raplab.com).



RapNet Data: February 25

Diamonds 1,122,936
Value $7,949,693,006
Carats 1,248,062
Average Discount -27.59%

www.rapnet.com


The RapNet Diamond Index (RAPI) is the average price for the top 25 diamond qualities (D-H, IF-VS2). It is based on the 10 best priced diamonds for each quality.




Get Current Price List | Subscribe to Rapaport | Join RapNet



RAPAPORT ANNOUNCEMENTS


Feb-Mar
22-4
Mon-Fri


Rapaport Melee Auction

New York & Hong Kong

View Details



March
1-5
Tue-Sat


Hong Kong International Diamond, Gem & Pearl Show

Hong Kong

Booth: AWE 2-U10 & AWE MR201B-01

View Details



March
9-16
Wed-Wed


Rapaport Single Stone Auction

New York & Israel

View Details



March
17-22
Thu-Tue


Rapaport Rough Tender

Surat, India

View Details




QUOTE OF THE WEEK
The diamond market experienced some weakening in 2015 and we retain a cautious outlook on diamond prices for 2016. We believe the long-term fundamentals for the diamond market remain strong.

William Lamb, president and CEO of Lucara Diamond Corp., on the miner's 2015 results

MARKETS


United States: Slow momentum in New York as dealers are buying to fill existing orders rather than for inventory. Shortages supporting prices of better-quality goods (RapSpec A2), while suppliers are still holding large volume of unwanted lower-quality diamonds...

Belgium: Sentiment improving in anticipation of next week’s Hong Kong International Jewellery Show. Buyers are pushing for higher discounts, while suppliers are holding prices firm ahead of the show...

Hong Kong: Rising expectations for next week’s show. Dealers are eager to resume trading since the Hong Kong market has been on hold for the past month during the Chinese New Year festival...

India: Polished trading stable. Dealers are preparing for the Hong Kong show and there is some expectation that Chinese demand will improve following the Chinese New Year retail selling period...

Israel: Polished trading and prices stable with dealers waiting for the Hong Kong show. Large delegation of 93 exhibitors participating in Israeli pavilion. Good demand for 0.30-0.50ct., D-H, VS-SI, RapSpec A2 and 1-2ct., D-H, VS-SI, RapSpec A2 diamonds...

Click here to continue reading


INSIGHTS



Rising Diamond Production

The diamond mining sector is under pressure with production rising to peak levels at a time when rough sales are slumping and polished demand is sluggish. The major miners are holding above-average inventory that they have pledged to release slowly in an attempt to avoid over-supply to a market struggling in the face of its current downturn…

Click here to continue reading

INDUSTRY



Rapaport Launches New Investment Diamond Grading Report

The Rapaport Group is pleased to announce the launch of a new diamond grading report – the Rapaport Investment Diamond Report (IDR). The new report conservatively grades diamonds based on Gemological Institute of America (GIA) standards. Additional gemological information including tint, location and color of inclusions as well as high resolution images are provided online and with the report.

All Rapaport Investment Diamond Reports are double tested, as they include an additional independent GIA diamond grading report. The IDR will only be issued for the best quality Round 0.50 ct. and larger, D-H, IF-VS2, excellent cut, polish and symmetry, Rapaport Specification A1 diamonds that, in the opinion of Rapaport gemologists, meet investment quality standards. Diamonds that lack overall brilliance, have features that limit trade liquidity or have borderline grades may not be issued IDR’s.


India’s Polished Exports -42% in January

India’s polished diamond exports dived 42% year on year to $1.04 billion in January, according to the nation’s Gem & Jewellery Export Promotion Council. By volume, polished exports slumped 36% to 1.8 million carats. Polished imports fell 47% to $197.3 million, leaving net polished exports 40% lower at $847.5 million.

Rough diamond imports increased 16% to $990.6 million during the month compared with a year earlier. Rough exports crept up 0.7% to $107.2 million, leaving net rough imports 19% higher at $883.4 million.


Smartwatch Shipments Overtake Swiss Watches

Global smartwatch shipments outnumbered those of Swiss watches for the first time ever in the final quarter of 2015 as the market for the electronic timepieces soared.

Shipments of smartwatches increased more than fourfold to 8.1 million units in the three months to December, while Swiss watch shipments declined 4.8% to 7.9 million units, according to research and consulting firm Strategy Analytics.

De Beers Launches Diamond Grading Service

The International Institute of Diamond Grading & Research (IIDGR), a unit of De Beers, has launched a diamond grading service in the Far East, Middle East, India and Europe.

IIDGR will provide a grading services from laboratories in Belgium, India and the U.K. The offering uses De Beers proprietary grading technology and is suitable for all sizes, colors, shapes and quality but will only be available for natural, untreated diamonds.

Belgium’s January Polished Exports Decline

Belgium’s polished diamond exports declined 4.5% year on year to $772 million in January, according to the Antwerp World Diamond Centre (AWDC). By volume, exports fell 8% to $397.9 million carats, while the average price rose 3.8% from a year ago to $1,940 per carat.

Polished exports to the U.S. fell 0.5% to $243.8 million. Exports to Hong Kong edged up 0.6% to $137.5 million despite a 31% surge in volume terms. Shipments to Israel fell 8.1% to $99.3 million.

GIA Grades Largest HPHT Diamond

The Gemological Institute of America (GIA) announced it graded the largest faceted blue synthetic diamond ever examined by the organization.

Researchers in the GIA’s New York laboratory inspected the emerald-cut, 5.03-carat HPHT-grown type-IIb stone produced by New Diamond Technology (NDT), a company based in St. Petersburg, Russia, and one of the founding members of the recently launched International Grown Diamond Association. The gem was graded as fancy deep blue, according to a lab note.


MID Leads List of Israel’s Top Diamond Exporters

MID House of Diamonds was ranked as the top diamond exporter from Israel in 2015, according to a list released by the diamond controller of the nation’s Ministry of Economy and Industry. The company exported $191 million net of diamonds during the year.

Leo Schachter Diamonds, which led the table the previous year, slipped to fourth place with $150 million of net exports in 2015 – a 48% decline, according to Rapaport News calculations. The list shows the top ten outbound shippers of the precious stones who agreed to release figures.



Water Leak Dampens Scio’s 3Q Revenue

Scio Diamond Technology Corp., a lab-grown diamond producer, said sales growth in the third fiscal quarter fell below its expectations as a water leak led to a temporary shutdown of its production base.

Revenue in the three months that ended December 31 still jumped 15% to $125,677 from a year ago, according to a Scio statement February 12. Net loss for the quarter was cut 4.3% to $1.3 million.



RETAIL & WHOLESALE



U.S. Jewelry Prices Rise 7% in January

The U.S. consumer price index (CPI) for jewelry increased 6.7% in January from the previous month, according to the U.S. Bureau of Labor Statistics. The reading was 2.9% higher than a year ago.

The increase in prices comes alongside rises in polished diamond prices in January due to shortages, according to the RapNet Diamond Index (RAPI™). Data compiled by Bloomberg showed gold prices on Comex increased 6.4% between December 31 and February 1.

Jewelry Business Closings +10% in 2015

Jewelry business closings in the U.S. and Canada increased 10% to 1,114 in 2015, according to the Jewelers Board of Trade (JBT).

The number of businesses ceasing operations rose 20% to 956, the JBT said in a report. Mergers, sales and consolidations slumped 32% to 118. Bankruptcies continued to be much lower than other closing types, at 39 compared with 40 in 2014

Kering’s 2015 Revenue +15%

Luxury group Kering reported revenue jumped 15% to $12.89 billion (EUR 11.58 billion) in 2015 on “brisk” sales and an improved operating performance. The increase was 4.6% on a comparable basis. Profit surged 32% to $774.7 million.

Watches and jewelry accounted for 10% of total revenues, the retailer said. Sales in the company’s jewelry brands “rose sharply” amid “very high” business volumes in the fourth quarter, but the watch business was hit by unfavorable market conditions.


MINING



Dominion’s 4Q Sales -26%

Dominion Diamond Corporation reported sales slid 26% year on year to $178.1 million in the fourth quarter that ended January 31.

Prices at the miner’s January diamond sale were cut 5%. However, a shortage of rough in cutting centers resulted in rises in some areas of rough pricing at its tender in India in early February, the company said.

Lucara's 4Q Revenue Declines

Lucara Diamond Corp. reported revenue declined 7.5% year on year to $65.2 million in the fourth quarter that ended December 31 as the diamond market “experienced some weakening” during the year.

The miner nonetheless turned a $19 million profit, following a loss of $16.8 million a year before on the back of a $21.1 million impairment and restoration charge. The average price per carat sold increased from $675 to $693 per carat. Production from the company’s Karowe mine in Botswana dived 22% to 89,247 carats.

Petra Swings to $2M Loss

Petra Diamonds swung to a loss of $2.2 million in the first half that ended December 31 from a profit of $39.1 million a year earlier as rough prices dropped.

Prices achieved by the miner dropped about 20% over the last 18 months, Petra chief executive officer Johan Dippenaar said in a presentation to investors. Average tender prices at three of its four South African mines were lower in the last six months of 2016 compared with the twelve months to June 30. Prices at the Williamson mine in Tanzania increased if exceptional diamonds are taken into account, but decreased without them.


Gemfields’ 1H Revenue, Profit Fall

Gemfields reported revenue dropped 9.1% year on year to $94 million in the first half that ended December 31. Profit after tax dived 65% to $8.2 million.

Emerald and beryl production from the Kagem mine in Zambia surged 30% to 15.7 million carats. Production of ruby and corundum from the Montepuez mine in Mozambique, however, dived 67% to 2.1 million carats.

Miner Plans to Sue Zimbabwe over Marange Ban

The Diamond Mining Company (DMC), one of the companies ordered to stop operations in Zimbabwe’s Marange fields by the government, plans to sue the nation’s administration for alleged breach of contract, Reuters reported.

Mines and Mining Development Minister Walter Chidakwa told diamond miners in the country February 22 to cease excavation because their licenses had expired.

Ramzi Malik, DMC’s general manager, said the firm’s joint venture with the state-owned Zimbabwe Mining Development Corporation (ZMDC) stipulates that renewing licenses was the government’s responsibility, according to Reuters.

GENERAL



AGS to Honor Jewelry Figures

The American Gem Society (AGS) will honor three figures in the jewelry industry for their contributions to the jewelry industry at its annual Circle of Distinction dinner on July 26 at the Plaza Hotel in New York.

Dione Kenyon (pictured), president of the Jewelers Board of Trade (JBT), will receive the Lifetime Achievement Award. Stewart Wicht, chief executive officer and president of Rolex Watch U.S.A., and Hank Siegel, president of Hamilton Jewelers, will both be awarded the AGS Triple Zero Award.



Israeli Pavilion at HKTDC to Host 93 Companies

The Israel Diamond Pavilion at the HKTDC Hong Kong International Diamond, Gem & Pearl Show this March will host 93 companies, the Israel Diamond Institute Group of Companies (IDI) announced.

There will be an additional 10 Israeli exhibitors in other locations of the show, which runs March 1 to 5. Six Israeli companies will be exhibiting at the fair for the first time.

ECONWATCH



Diamond Industry Stock Report

European and Far East retail stocks suffered this week, led by Damiani (-13%), while U.S. retailers were mixed, with Birks Group (+9.1%) heading the gains and Signet (-7%) experiencing the biggest drop. Mining stocks were generally positive as rough demand was firm in February, led by Stellar Diamonds (+23%) and Firestone Diamonds (+13%).

View the detailed industry stock report.
Feb. 25 (12:00 GMT) Feb. 18 (12:25 GMT) Chng.
$1 = Euro 0.91 0.90 0.006
$1 = Rupee 68.82 68.50 0.3
$1 = Israel Shekel 3.90 3.90 0.00
$1 = Rand 15.53 15.39 0.14
$1 = Canadian Dollar 1.36 1.37 0.00

Precious Metals Chng.
Gold $1,232.45 $1,205.47 $26.98 2.2%
Platinum $934.50 $941.00 -$6.50 -0.7%
Silver $15.18 $15.27 -$0.09 -0.6%

Stock Indexes Chng.
BSE 22,976.00 23,649.22 -673.22 -2.8%
Dow Jones 16,484.99 16,453.83 31.16 0.2%
FTSE 6,000.13 6,015.41 -15.28 -0.3%
Hang Seng 18,888.75 19,363.08 -474.33 -2.4%
S&P 500 1,929.80 1,926.82 2.98 0.2%
Yahoo! Jewelry 1,042.09 1,071.27 -29.18 -2.7%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment March 3, 2016


Hong Kong show opens to steady traffic and improving dealer demand. Far East jewelry consumption still uncertain. Large quantity of goods available at the show but shortages of better-quality RapSpec A2 diamonds supporting selection prices. Feb. 1ct. RAPI +0.3%. Rough market firm as De Beers sells $610M in Feb. vs. $545M in Jan. ALROSA Jan./Feb. sales at $780M. Lucapa sells 404ct., type IIa, D, rough diamond for $16M ($39,604/ct.). Sarine 4Q revenue -32% to $12M, profit -62% to $2M. Hong Kong 2015 polished imports -11% to $17.5B, polished exports -3% to $13.3B. Signet 4Q same-store sales +5%, earnings per share +19%. Stuller launches synthetic diamond sales.


RapNet Data: March 3

Diamonds 1,138,515
Value $7,981,305,719
Carats 1,258,438
Average Discount -27.92%

www.rapnet.com


The RapNet Diamond Index (RAPI) is the average price for the top 25 diamond qualities (D-H, IF-VS2). It is based on the 10 best priced diamonds for each quality.

Get Current Price List | Subscribe to Rapaport | Join RapNet

RAPAPORT ANNOUNCEMENTS
March 9-16 Wed-Wed
Rapaport Single Stone Auction

New York & Israel

View Details March 17-22 Thu-Tue
Rapaport Rough Tender

Surat, India

View Details
Mar-Apr 29-6 Tue-Wed
Rapaport Melee Auction

New York & Dubai

View Detail


QUOTE OF THE WEEK
We want to give jewelers every option they need to thrive and many of our customers already offer these diamonds with great success.

- Stanley Zale, vice president of diamonds and gemstones at Stuller, on the jewelry manufacturer introducing lab-grown diamonds to its product offering.

MARKETS

United States: Steady demand and firm prices. U.S. dealers eyeing price trends at the ongoing Hong Kong International Jewelry Show. Bold red carpet display of diamonds at Hollywood Oscar ceremony...

Belgium: Positive sentiment after dealers registered steady U.S. sales in Feb. Dealers traveled to Hong Kong show hoping the momentum would continue but uncertain about Far East demand...

Israel: Polished trading quiet with large delegation of dealers at Hong Kong show. Good demand and shortage of better-quality RapSpec A2 diamonds. Buyers insisting on 3X...

India: Trading is quiet. Dealers sent their goods to the Hong Kong show even if they weren’t exhibiting leaving little inventory available in Mumbai. Rough demand steady during De Beers sight and ALROSA sale with some shortfalls in De Beers supply...

Hong Kong: Focus on the show. Suppliers note steady traffic during first two days of diamond exhibit with steady dealer demand. Positive sentiment and dealers are active as they held off from trading in the weeks before the show...

Click here to continue reading

INDUSTRY

Polished Diamond Prices Firm in February

Polished diamond prices rose in February continuing the uptrend evident since November. Shortages continue to support the market while trading slowed during the month as dealers in China and Hong Kong took vacation during the Chinese New Year period.

The RapNet Diamond Index (RAPI™) for 1-carat, GIA-graded diamonds rose 0.3% in February. RAPI for 0.30-carat diamonds advanced 0.4% and RAPI for 0.50-carat diamonds grew 0.7%. RAPI for 3-carat diamonds fell 1.2%.

RAPI for 1-carat diamonds increased 1.3% during the first two months of the year but remains 7.8% below levels recorded one year ago.

Steady Activity at Hong Kong Show

Diamond exhibitors were satisfied with activity during the opening days of the Hong Kong show noting that visitor traffic was stronger than last year.

Exhibitors observed good dealer demand in the diamond exhibition, while jewelry retailers were also present but more cautious on pricing. Most reported that prices were relatively steady during the event, particularly for pointer-size diamonds up to 1-carat with good demand for sizes 0.30-carat to 0.50-carat and 1- to 2-carat diamonds. One dealer said that shortages were still felt in the 0.30 to 0.50-carat category, while there was larger inventory available at the show in 1-carat and larger sizes.

In general, dealers that spoke with Rapaport News said the show had not been a game-changer, but that the market was operating in a measured manner.

De Beers February Sales Rise to $610M

De Beers reported rough diamond sales increased to $610 million in the second cycle of 2016 as demand continued to improve. Sales in the first cycle in January were revised to $545 million.

The sales figure includes the sight in Gaborone, Botswana, which took place February 22 to 26, as well as auction sales and supply to beneficiation and government partners.

De Beers sightholders told Rapaport News the miner sold all the goods it made available and kept prices stable.

ALROSA Sells $780M of Rough in Jan-Feb.

ALROSA sold about $780 million worth of rough diamonds during its first two sales of the year as rough demand improved, a market source told Rapaport News. Prices in February were unchanged for the sixth month running, according to Rapaport records.

The Russia-based miner allowed its clients to reject up to 30% of goods at the latest tender without forcing them to pay a penalty or commit to buying the stones in the future, the source said. In January the rejection limit was 50%.

Separately, Russia is considering privatizing a 10.9% stake in ALROSA, press agency TASS reported, citing the nation's finance minister.The state owns 44% of the miner.

Hong Kong's 2015 Polished Imports -11%

Hong Kong's polished diamond imports declined 11% to $17.52 billion in 2015, according to data from the Diamond Federation of Hong Kong. In volume terms, polished imports fell 12% to 18.6 million carats.

Polished imports from India, Hong Kong's biggest diamond trade partner, fell 13% to $7.22 billion compared with the previous year. Imports from Israel slumped 23%, while shipments from the U.S. slid 12%.

Sarine's 4Q Revenue -32%, Profit -62%

Sarine Technologies reported revenue slumped 32% to $12.4 million in the fourth quarter that ended December 31 as diamond manufacturing levels fell.

Profit dived 62% year on year to $1.5 million during the period, according to the Singapore-listed company, which makes technological products for diamond and gemstone production.

Stuller Embraces Lab-Grown Diamonds

Jewelry manufacturer Stuller added lab-grown diamonds to its repertoire of gems used in its products. Its synthetic stones will be housed in a separate vault from its natural diamonds and stored and shipped in a distinct blue acrylic box and always handed separately.

All grown in the U.S., the diamonds will be accompanied by a certificate from the Gem Certification and Assurance Lab (GCAL) and have a unique inscription on the girdle and a distinctly labeled package.

RETAIL & WHOLESALE
U.S. Jewelry, Watch Sales Increase Again

U.S. jewelry and watch sales from all retail outlets increased 6.3% year on year to an estimated $4.65 billion in January, with both categories enjoying nine successive months of growth, according to provisional figures from the Bureau of Economic Analysis.
Jewelry sales in January increased 6.3% year on year to $4.11 billion, according to Rapaport News estimates while watch sales rose 6.4% to an estimated $544 million.

Signet's 4Q Same-Store Sales +5%

Signet Jewelers' same-store sales increased 4.9% in the fourth quarter that ended January 30, according to preliminary results.

The improvement is within the diamond jewelry retailer’s guidance of 4.6 to 5% same-stores sales growth and comes alongside an increased in adjusted earnings per share of 19% to $3.63, the company said.


Sotheby's 2015 Revenue Climbs

Sotheby's reported revenue increased 2.5% to $961.5 million in 2015. However, profit dived 63% to $43.7 million because of a number of charges recorded in the year.

The auctioneer sold $571.4 million worth of jewelry in 2015, below a record of $602.5 million set the previous year.


Berkshire Hathaway's Retail Revenue Jumps

Berkshire Hathaway reported retail revenue increased by about $8.8 billion in 2015 on the back of acquisitions of the Van Tuyl Group and Detlev Louis Motorrad. The two businesses together contributed $8.3 billion of revenue.

The holding company did not provide a total revenue figure for the segment, which includes jewelry groups Ben Bridge Jeweler, Borsheims and Helzberg Diamonds.

Kohl's to Shut 18 Stores

Kohl's Corporation will close 18 underperforming stores in 2016 as fourth-quarter sales growth fell below expectations and profit dived.

Revenue grew 0.8% year on year to $6.39 billion in the three months to January 30. Profit fell 20% to $296 million, the U.S.-based retailer said.

India's Shrenuj Sales Slump 34%

India-based diamond manufacturer Shrenuj & Company reported revenue slumped 34% year on year to $182.8 million (INR 12.34 billion) in the three months that ended December 31. The company swung to a loss of $55,103 from a profit of $3 million a year before. Diamond sales dived 30% to $153.3 million in the third fiscal quarter.

Frederick Goldman Makes Costa Rica Acquisition

Jewelry manufacturer Frederick Goldman has bought "selected assets" of Costa Rica-based bridal jewelry company Joyeros Costarricenses.

Joyeros Costarricenses has manufactured and distributed bridal products in North America for over 25 years and has already been servicing many Frederick Goldman clients, the U.S.-based acquirer said.

MINING

Angola's Largest Diamond Sold for $16M

Lucapa Diamond Company sold the record-breaking 404-carat diamond it recovered earlier this month in Angola for $16 million (AUD 22.5 million).

The selling price of $39,580 per carat is the highest to date for a white diamond mined at the Lulo Diamond Project in the African nation. The type-IIa, D-color gem was the largest recorded diamond ever found in Angola.


ALROSA's Diamond Reserves Jump to 1.1B Carats

ALROSA's diamond reserves at the start of 2016 increased by 43.6 million carats to 1.11 billion carats by Russian state classification standards, the miner reported.

The bulk of the company's geological exploration in 2015 was carried out in the Yakutia region of Russia. Total financing of exploration came to $82.8 million (RUB 6.3 billion), of which about $80.2 million was allocated to operations in Yakutia.


Diamcor's Quarterly Sales Soar

Diamcor's revenue nearly doubled in the three months that ended December 31 as increased processing and facility upgrades at the Krone-Endora at Venetia project in South Africa helped the miner boost the volume of diamonds it recovered and sold.

The miner's rough sales surged 95% year on year to $1.3 million (AUD 1.7 million) in its third fiscal quarter, it said. Diamonds sold by volume jumped to 9,469 carats compared with 3,579 carats a year earlier.

Kimberley Secures Loan for Lerala Mine

Kimberley Diamonds has secured financing to bring the Lerala Diamond Mine in Botswana to production, with mining scheduled to start in March this year. Diamond production is anticipated in April and the first sale in June.

The miner announced a $2.8 million working capital loan facility, which complements a rights issues planned for March to April that is expected to raise $2.9 million (AUD 4 million).

Court Gives Mbada Diamonds Access to Marange Assets

A Zimbabwe court has granted Mbada Diamonds the right to take control of its assets in the Marange fields after the miner was forced to cease operations. The government recently ordered companies to stop mining after it did not renew their licenses, with the state-owned Zimbabwe Consolidated Diamond Company taking over excavation.

Mbada appealed the decision and won a reprieve from the High Court on February 29, Reuters reported. The court ordered Mines and Mining Development Minister Walter Chidakwa allow Mdaba's security staff access to the company’s mining site in Marange. A full hearing on whether Mbada can resume mining was scheduled for later this week.


DiamondCorp Raises Price Forecast for Lace Mine


DiamondCorp raised its forecast for the average price it expects to achieve from production at the Lace Mine from $160 to $164 per carat. The price does not include values from the potential recovery of special stones, for which the South Africa-located mine was renowned during its previous production period in the early twentieth century.
The company also revised its estimated reserve at the mine to 9.4 million carats of diamonds with a bottom screen size of 1.25 millimeters. A previous 2012 report estimated a resource of 13.4 million carats at a 1-millimeter screen size

GENERAL

FTC Extends Deadline for Jewelry Guides Changes

The Federal Trade Commission (FTC) has extended the deadline to file comments about changes to its Jewelry Guides to June 3, the Jewelers Vigilance Committee (JVC) reported. JVC had requested the extension from the original April 4 cutoff. The FTC's Jewelry Guides outlines how businesses should avoid making deceptive claims about precious metal, pewter, diamond, gemstone, and pearl products, including what types of disclosures are needed, the commission explained. JVC noted that numerous trade associations and hundreds of industry members have filed comments and suggested changes since the review began in 2012.

JA Adds New Member Perks

Jewelers of America has announce new benefits for members including competitive rates on financial services from Jewelry Asset Services, a bank loan and inventory lending consulting company.

In addition, members will now be able to save on services and templates from W.R. Cobb Online, a specialist in jewelry industry technologies and marketing solutions. A further new benefit is access to competitive workers’ compensation coverage through Wasserman & Wexler and affiliated agencies.

ECONWATCH

Diamond Industry Stock Report


View the detailed industry stock report.
Mar. 3 (10:30 GMT) Feb. 25 (12:00 GMT) Chng.
$1 = Euro 0.92 0.91 0.01
$1 = Rupee 67.34 68.82 -1.5
$1 = Israel Shekel 3.89 3.90 -0.01
$1 = Rand 15.68 15.53 0.14
$1 = Canadian Dollar 1.34 1.36 -0.02

Precious Metals Chng.
Gold $1,242.12 $1,232.45 $9.67 0.8%
Platinum $937.50 $934.50 $3.00 0.3%
Silver $14.95 $15.18 -$0.23 -1.5%

Stock Indexes Chng.
BSE 24,606.99 22,976.00 1,630.99 7.1%
Dow Jones 16,899.32 16,484.99 414.33 2.5%
FTSE 6,158.69 6,000.13 158.56 2.6%
Hang Seng 19,941.76 18,888.75 1,053.01 5.6%
S&P 500 1,986.45 1,929.80 56.65 2.9%
Yahoo! Jewelry 1,091.68 1,042.09 49.59 4.8%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment March 10, 2016


Hong Kong show exceeds low diamond dealer expectations but slow for jewelry fueling caution about Chinese consumer demand. Positive mood in the diamond section with suppliers feeling better about the market. Dealer and manufacturer profitability improving with new lower-cost polished supply, but old stock is difficult to sell and expensive. Good demand for 0.30-1.99ct., G-J, VS-SI diamonds. 3ct. weak. Indian jewelers strike against 1% excise duty imposed by government. Belgium’s Feb. polished exports -10% to $1.6B, rough imports +28% to $1.3B.


RapNet Data: March 10

Diamonds 1,105,398
Value $7,771,583,301
Carats 1,227,939
Average Discount -28.33%

www.rapnet.com


The RapNet Diamond Index (RAPI) is the average price for the top 25 diamond qualities (D-H, IF-VS2). It is based on the 10 best priced diamonds for each quality.




Get Current Price List | Subscribe to Rapaport | Join RapNet



RAPAPORT ANNOUNCEMENTS
March 9-16 Wed-Wed
Rapaport Single Stone Auction

New York & Israel

View Details
March 17-22 Thu-Tue
Rapaport Rough Tender

Surat, India

View Details Mar-Apr 29-6 Tue-Wed
Rapaport Melee Auction

New York & Dubai

View Details
April 13-16 Wed-Sat
AGS Conclave

Washington, DC, USA

View Details

QUOTE OF THE WEEK
The excise guidelines which have been drafted for gems and jewelry are not practically implementable and will be detrimental to the survival of the industry.

G. V. Sreedhar, chairman of the All India Gems and Jewellery Trade Federation, on the government’s new 1% excise duty on jewelry

MARKETS

United States: Trading is relatively slow. Buyers are looking for deals to fill shortages, while suppliers are trying to hold prices firm. No real urgency in the market. Shortage of nice, eye-clean SI’s...

Belgium: Polished market stable as dealers and goods return from the Hong Kong show. Mixed reports from the Antwerp pavilion at the show...

Israel: Positive sentiment as dealers return from Hong Kong show. Good demand for 0.30-1.5ct., D-H, VS-SI diamonds. Suppliers holding prices firm. 3ct weak with mixed reports about larger stone market...

India: Trading slow in Mumbai. Dealers satisfied with the show and noted that profitability is improving as new lower-cost polished becomes available. Old stock expensive and difficult to sell...

Hong Kong: Diamond trading positive at last week’s Hong Kong show (March 1 to 7), while activity was quieter in the jewelry section. Steady dealer demand and improving sentiment in the local market...

Click here to continue reading

INSIGHTS

Short-Term Diamond Markets

The Hong Kong show that ended March 7 revealed a diamond industry that is focused on the very short term. Dealers who spoke with Rapaport News were relatively upbeat about the exhibition, but uncertain of market developments in two-to-three months…

Click here to continue reading

INDUSTRY

Participation Grows at Hong Kong Shows

Foot traffic at the two Hong Kong exhibitions held March 1 to 7 increased from a year ago as more than 80,000 buyers attended the key fixtures on the jewelry trade calendar, according to the organizers. Last year more than 76,000 buyers attended the shows.

More than 31,000 buyers visited the Diamond, Gem & Pearl Show at AsiaWorld-Expo from March 1 to 5, while more than 49,000 visitors attended the Jewellery Show at the Hong Kong Convention and Exhibition Centre from March 3 to 7.


DPA Marketing Chief to Leave

Sally Morrison (pictured), managing director of marketing for the Diamond Producers Association (DPA), will leave the organization in May to “pursue another professional opportunity.”

Michael Pace, the former head of global marketing at the World Gold Council, will become interim managing director of marketing at the end of March to “ensure continuity of momentum,” until a permanent replacement for Morrison is found.

Belgium’s February Polished Exports -10%

Belgium’s polished diamond exports dropped 9.6% year on year to $1.6 billion in February, according to the Antwerp World Diamond Centre (AWDC). By volume, exports dived 16% to 615,837 carats, while the average price jumped 7.3% to $2,592 per carat.

Compared with the previous month, polished shipments were higher in February as goods were exported to Hong Kong for the March show, implying the spike was seasonality-driven. Exports to the key trading center soared almost fivefold to $684.1 million sequentially in February, but slumped 17% year on year.

Botswana’s January Exports -27%

Botswana’s diamond exports in dollar terms dived 27% to $222.5 million in January, according to data from the Bank of Botswana.

The drop – 14% when calculated in terms of the local currency pula – comes off the back of a downbeat environment in the rough market in December, when De Beers said it sold $248 million, compared with an estimated $577 million a year earlier. De Beers sales in January this year jumped to $540 million.


India Strike ‘Costing Jewelers $150M per Day’

A jewelers’ strike in India protesting a new 1% excise tax is causing industry members to lose $150 million per day, Bloomberg reported, citing the All India Gems & Jewellery Trade Federation (GJF).

The industrial action, which started March 2, is supported by the GJF. The organization said the strike would continue “until further notice.”

Okavango to Hold Rough Viewings in Mumbai in July

Okavango Diamond Company (ODC) will hold viewings of its rough stones at the Bharat Diamond Bourse in Mumbai July 20 to 25. These will take place alongside the company’s regular viewings in Gaborone, Botswana.

The goods will be available for ODC-registered customers to view. Those who are not registered are invited to apply on the company’s website.

WFDB to Launch-Know-Your Customer Program in May

The World Federation of Diamond Bourses (WFDB) will launch its Know-Your-Customer initiative in May, aimed at increasing transparency in the industry to banks and regulators.

The announcement was made at the WFDB’s Asia Summit held in Seoul, where presidents of exchanges were hosted by the Korea Diamond Bourse.

RETAIL & WHOLESALE

Christie’s to Auction Joan Rivers’ Jewelry

Christie’s will auction personal pieces from the late entertainer Joan Rivers’ New York penthouse in June, including jewelry designed by Cartier, Van Cleef & Arpels and Harry Winston.

Items including decorative arts, paintings, fine French furniture and Fabergé will be auctioned in the U.S. city in June 22, while a separate online auction running June 16 to 23 will feature fashion and jewelry.


Moissanite Maker Aims to 'Compete with Diamonds'

Charles & Colvard, the world’s primary maker and seller of moissanite, a diamond substitute, reported revenue grew 20% to $30.8 million in 2015 as ecommerce sales soared.

The company plans to “move up-market and compete directly with diamonds for market share,” said Suzanne Miglucci, Charles & Colvard’s president and chief executive officer.

Signet, Tiffany Fight Wildlife Trafficking

Signet Jewelers and Tiffany & Co. are among jewelry industry players committing to help stop wildlife trafficking activities in the U.S. through a new agreement among corporations in the country.

Berkshire Hathaway companies Richline Group and Rio Grande are also members of the U.S. Wildlife Trafficking Alliance, a coalition of companies and non-governmental organizations formed in response to the government’s National Strategy for Combatting Wildlife Trafficking.

MINING

Mugabe Attacks Zimbabwe’s Diamond Firms

Zimbabwe’s President Robert Mugabe said illicit trade in the nation’s diamonds has cost its economy more than $13 billion as companies have “robbed” the country of its wealth, Bloomberg reported.

This forced the state to create a new company, Zimbabwe Consolidated Diamond Co., which will take over mining in the African nation, the news agency reported, citing an interview Mugabe gave on state television. Miners active in the country were last month forced to cease operations after the government did not renew their licenses.

Diavik Mine Reserves Decrease to 53M Carats

Dominion Diamond Corporation reported proven and probable mineral reserves at the Diavik Diamond Mine in Canada declined to 52.8 million carats on a 100% basis at the end of last year, a reduction of 500,000 on an annual basis.

The biggest proportion of the reserves were in underground mines, which had proven and probable reserves of 42.6 million carats.

Lucapa Sells Nearly $7M of Lulo Diamonds

Lucapa Diamond Company and local Angolan partner Roses & Petalas sold a further 1,349 carats of diamonds from the Lulo Diamond Project in Angola for gross proceeds of $6.8 million (AUD 9.6 million). The average selling price was $5,075 per carat.

Including the sale of a record 404-carat diamond for $16 million, gross revenues from 1,931 carats of Lulo diamonds have amounted to $24.2 million in the quarter ending March 2016.

Diamcor Reports Krone-Endora Sales

Diamcor Mining reported it sold 6,897 carats of rough diamonds from its Krone-Endora at Venetia project in South Africa for a total of $1 million from two tenders held since the start of 2016. The average price achieved was $149.12 per carat.

The sales total – which covers all the tenders scheduled for the current fiscal quarter ending March 31 – represents an increase of about 49% by volume and 22% by value from a year ago.

GENERAL

Crimes Against U.S. Jewelers Slump

The total number of crimes committed against U.S. jewelry firms that were reported to the Jewelers’ Security Alliance (JSA) slumped last year, leading to an 11% drop in dollar losses.

Crimes reported fell by 15% to 1,177 in 2015 as authorities were successful in catching lawbreakers, according to the latest data. Total dollar losses fell to $77.8 million and the number of jewelers killed in crimes against jewelry firms fell from three to two.

Hatton Garden Thieves Jailed

Five gang members have been handed jail sentences ranging from six to seven years for their roles in the $19.9 million (GBP 14 million) burglary of jewelry from the Hatton Garden security vault in London’s diamond district, The Guardian reported.

The heist, described by prosecutor Philip Evans as the biggest burglary in English history, took place over the Easter holiday weekend in April 2015.

Jewelry Industry Summit Sells Out

The Jewelry Industry Summit, an open forum on sustainability and responsible sourcing, taking place in New York from March 11 to 13 is sold out, its organizers said.

The summit, to be held at the Fashion Institute of Technology, will be an interactive working meeting with large and small discussion groups rather than a full agenda of speakers.

ECONWATCH

Diamond Industry Stock Report

Birks Group's share price soared 61% from a relatively low base this past week as U.S. retail stocks generally saw modest or large increases. Charles & Colvard gained 13.5% on strong results. Mining stocks mostly lost value, headed by Gem Diamonds (-9.9%), but Peregrine Diamonds (+15%) led those bucking the trend. Far East and India stocks were mixed.

View the detailed industry stock report.
Mar. 10 (12:30 GMT) Mar. 3 (10:30 GMT) Chng.
$1 = Euro 0.91 0.92 -0.01
$1 = Rupee 67.03 67.34 -0.3
$1 = Israel Shekel 3.90 3.89 0.00
$1 = Rand 15.20 15.68 -0.47
$1 = Canadian Dollar 1.33 1.34 -0.02

Precious Metals Chng.
Gold $1,248.28 $1,242.12 $6.16 0.5%
Platinum $976.35 $937.50 $38.85 4.1%
Silver $15.28 $14.95 $0.33 2.2%

Stock Indexes Chng.
BSE 24,623.34 24,606.99 16.35 0.1%
Dow Jones 17,000.36 16,899.32 101.04 0.6%
FTSE 6,145.12 6,158.69 -13.57 -0.2%
Hang Seng 19,984.42 19,941.76 42.66 0.2%
S&P 500 1,989.26 1,986.45 2.81 0.1%
Yahoo! Jewelry 1,078.75 1,091.68 -12.93 -1.2%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment March 17, 2016


Big-stone demand uncertain as Basel show opens. Finest cut large diamonds in short supply and selling but lower qualities weak. Rough auction prices too high and trading cooling off as polished production increases. ALROSA 2015 revenue +8% to $3.3B, profit of $471M vs. loss of $246M in 2014. Gem Diamonds 2015 revenue -8% to $271M, profit +57% to $52M. China’s 2015 polished imports -14% to $6.7B, exports -21% to $2.2B. U.S. Jan. polished imports -3% to $1.8B, exports -9% to $1.3B. India’s Feb. polished exports +2% to $2.3B, rough imports +37% to $1.6B. Sotheby’s to auction Lucara’s 1,111ct. Lesedi La Rona rough diamond. De Beers launches U.S. diamond reselling business.


RapNet Data: March 17

Diamonds 1,133,311
Value $7,890,644,475
Carats 1,250,774
Average Discount -27.94%

www.rapnet.com


The RapNet Diamond Index (RAPI) is the average price for the top 25 diamond qualities (D-H, IF-VS2). It is based on the 10 best priced diamonds for each quality.

Get Current Price List | Subscribe to Rapaport | Join RapNet

RAPAPORT ANNOUNCEMENTS

March 18-22 Fri-Tue
Rapaport Rough Tender

Surat, India

View Details
Mar-Apr 29-6 Tue-Wed
Rapaport Melee Auction

New York & Dubai View Details

April 6-13 Wed-Wed
Rapaport Single Stone Auction

New York & Israel

View Details
April 13-16 Wed-Sat

AGS Conclave

Washington, DC, USA View Details

QUOTE OF THE WEEK
In Beijing alone there are a couple of hundred billionaires. We’re nearly run over in the rush of people trying to find [large diamonds]. I’m pretty confident we’re nowhere near saturation point or anything that’s going to have an effect on prices.

Clifford Elphick, CEO of Gem Diamonds, predicts demand for exceptional diamonds will remain strong

MARKETS


United States: Polished trading steady. Large-volume suppliers find it difficult to replace inventory with shortages of the right goods...

Belgium: Mixed sentiment in Antwerp. Steady demand and tight supply for top-quality RapSpec A2 diamonds. Lower qualities difficult to sell and stuck in inventory...

Israel: Improved sentiment after Hong Kong show but trading relatively quiet. Suppliers holding back on goods and using memo to sell to end consumers where they can get better prices than on the dealer market...

India: Polished trading quiet and activity slowed after Hong Kong show. Suppliers left with large inventory of lower-quality goods that are difficult to sell...

Hong Kong: Trading steady and sentiment improving. Last week’s show provided momentum to the market. Stable demand for 0.30-1ct., G-J, VS-SI diamonds...

Click here to continue reading

INDUSTRY

Sotheby’s to Auction 1,111-Ct Rough Diamond

Lucara Diamond Corp has appointed Sotheby’s to auction the world’s second-largest diamond it discovered in Botswana last year.

"We are very excited to have been chosen to work with Lucara on this extraordinary project," Sotheby's said in a statement to Rapaport News. "Such a sale is unprecedented so we are together exploring the best possible way to present this natural treasure to the market."

Lucara intends to sell the 1,111-carat Lesedi La Rona in the first half after a roadshow that will take the stone to undisclosed locations around the world.

Indian Diamantaires Join Jewelers’ Strike

Members of the diamond industry went on strike March 17 in support of the wider shutdown among jewelers protesting a new 1% excise duty.

In a note to members of the Mumbai Diamond Merchants’ Association, its president, Bharat Shah, said the trade body and the Diamond Exports Association had asked all those in the diamond and diamond-studded jewelry industry to down tools in support of the cause. Jewelers held a rally in New Delhi the same day to urge the government to cancel the duty.


U.S. Polished Imports -3% in January

U.S. polished diamond imports fell 3.2% year on year to $1.77 billion in January, according to provisional government data. Diamond imports by volume declined 14% to 912,672 carats. The average price of polished imports, however, increased 12% to $1,938 per carat.

Polished diamond exports, meanwhile, dropped 8.9% to $1.26 billion, driving net imports up 15% to $513 million.

Rapaport Hong Kong Auction Sells Over 80K Cts

Rapaport Auctions sold 80,000 carats for $12 million at its auction last week in Hong Kong.

The auction consisted of hundreds of parcels of recycled and finely assorted premium quality diamond parcels in all shapes, qualities and sizes. The diamonds were sourced from retailers, pawnshops and refineries from around the world.

CAR Deal Opens Door to KP Return

The Central African Republic (CAR) will soon resume exporting diamonds after a deal was struck between its government and the country’s main miner, Sodiam, The National reported.

CAR has been unable to export diamonds since 2013, when it was suspended from the Kimberley Process (KP) on concern that a rebel group was using the gems to fund illegal activities.

The deal between CAR’s minister for mines, Joseph Agbo, and Viken Arslanian, an executive of Sodiam, followed meetings chaired by Ahmed Bin Sulayem, chairman of the KP for 2016, the UAE newspaper reported.

Dallas Diamond Firms to Launch Cutting Facility

Dallas-based The Diamond Doctor and Southwest Diamond Cutters have joined forces to open a “state-of-the-art” cutting facility.

The Diamond Doctor, a jewelry wholesaler and retailer, and Southwest Diamond Cutters, a firm owned by a fifth-generation master diamond cutter, will launch the facility in Farmers Branch housing 14 diamond cutters and support staff. Employees are slated to start in mid-2016.

India’s Polished Exports +2% in February

India’s polished diamond exports increased 1.9% year on year to $2.34 billion in February, according to the nation’s Gem & Jewellery Export Promotion Council.

By volume, polished exports increased 8.2% to 3.3 million carats. Polished imports dived 45% to $222.1 million, leaving net polished exports up 12% to $2.12 billion.

Rough diamond imports surged 37% to $1.55 billion and rough exports soared 49% to $131.8 million.

RETAIL & WHOLESALE

De Beers Rolls Out Diamond Reselling Business in U.S.

De Beers launched its diamond reselling business in the U.S. after an 18-month pilot program. The company claimed it is targeting both retailers and consumers by offering better prices and greater transparency.

The International Institute of Diamond Valuation (IIDV) will provide customers with “more accurate and attractive” prices and give retailers a service that complements their own activities, helping to maintain customer relationships and support repeat business, De Beers said.


Oval Blue Diamond Expected to Fetch up to $35M

Sotheby’s hopes to raise $30 million to $35 million (HKD 235 million to HKD 280 million) from the sale of the largest oval fancy vivid blue diamond ever to appear at an auction.

The “rare and superb,” 10.10-carat stone, known as the ‘De Beers Millennium Jewel 4,’ is internally flawless and will appear at the Magnificent Jewels and Jadeite Spring Sale in Hong Kong on April 5.

U.S. Jewelry Store Sales +1% in January

U.S. specialty jewelry store sales rose 1.2% year on year to $1.8 billion in January, according to the U.S. Census Bureau. The increase compares with the 6.3% jump in jewelry sales across all retail outlets that month.

Adjusted for seasonality, jewelry store sales in January increased 4.2% to $2.57 billion.

MINING

ALROSA's Revenue +8% in 2015

ALROSA reported revenue jumped 8.4% to $3.28 billion (RUB 224.5 billion) last year as the rouble’s depreciation against the dollar boosted the Russian miner’s sales in local currency.

As a result, the company swung to a profit of $470.9 million from a loss of $246.2 million in a year ago, overcoming a 24 percent slide in the volume of diamonds sales. The value of diamond sales increased 9.3 percent to $2.94 billion.

De Beers Diamond Reserves +28%

De Beers diamond reserves were raised by 28% last year as the miner increased its resource estimate for two mines in Botswana.

Reserves were increased to 479.7 million carats as at December 31, compared with 375.4 million carats a year earlier, according to parent company Anglo American’s annual report.

The report shows the overall increase of just over 100 million carats is almost entirely attributed to a 28% rise in reserves at Debswana, De Beers joint venture with the government of Botswana, which advanced to 313.8 million carats from 212 million carats a year before.

Gem Diamonds’ 2015 Revenue -8%

Gem Diamonds reported revenue dropped 8% to $249.5 million in 2015 as the average price of gems from the Letšeng mine in Lesotho slumped and rough carat sales slid.

The average price at Letšeng fell 9% and rough sales by volume were down 6%. Attributable profit for the year nonetheless jumped 57% as the miner cut costs. The company also said it will downsize its operations at the Ghaghoo mine in Botswana.

Gahcho Kué Mine Set for 2H Production Start

Mountain Province Diamonds reported the Gahcho Kué diamond mine in Canada’s Northwest Territories is on track for first production in the second half of 2016, with the project now more than 87% complete.

Mountain Province is a 49% participant in the mine together with De Beers Canada. Development is progressing according to plan, Mountain Province said.

GENERAL

IGI North America Airs TV Ads

International Gemological Institute (IGI) North America launched a national advertising campaign on U.S. cable television to increase consumer awareness about and confidence in the diamond and fine-jewelry industry.

The advertisements started airing on Fox News, MSNBC, CNBC, CNN, HLN and Time Warner Cable NY1 News from March 14.

Barbie Diamond Shoes and Ring up for Auction

Sotheby’s will auction a set of Barbie diamond shoes and ring made at its Magnificent Jewels sale on April 19 to mark the 57th anniversary of the doll’s launch.

The set comprises platinum and diamond slippers and a 3.73-carat diamond ring, Sotheby's said in a post on the social network site Insite.

ECONWATCH

Diamond Industry Stock Report

Indian jewelry stocks mainly declined this past week, led by Rajesh Exports (-16%), as the industry held a large-scale strike to protest a new 1% excise tax. In the U.S., several retail stocks lost value, led by Blue Nile (-3.8%) and Movado Group (-3.8%), but Charles & Colvard (+40%) bucked the trend. Declines among European retailers were steeper, headed by Swatch Group (-8.5%) and Richemont (-6.7%). Mining stocks were mixed.

View the detailed industry stock report.
Mar. 17 (12:20 GMT) Mar. 10 (12:30 GMT) Chng.
$1 = Euro 0.89 0.91 -0.03
$1 = Rupee 66.67 67.03 -0.4
$1 = Israel Shekel 3.85 3.90 -0.05
$1 = Rand 15.39 15.20 0.19
$1 = Canadian Dollar 1.30 1.33 -0.02

Precious Metals Chng.
Gold $1,266.98 $1,248.28 $18.70 1.5%
Platinum $981.75 $976.35 $5.40 0.6%
Silver $15.68 $15.28 $0.40 2.6%

Stock Indexes Chng.
BSE 24,677.37 24,623.34 54.03 0.2%
Dow Jones 17,325.76 17,000.36 325.40 1.9%
FTSE 6,150.68 6,145.12 5.56 0.1%
Hang Seng 20,503.81 19,984.42 519.39 2.6%
S&P 500 2,027.22 1,989.26 37.96 1.9%
Yahoo! Jewelry 1,066.82 1,078.75 -11.93 -1.1%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment March 24, 2016


Antwerp on high alert after Brussels terror attacks. Light visitor traffic at Basel show reflects cautious European luxury market and weak economic sentiment. Polished inventory rising. New production of more desirable goods selling better than large volume of available old stock. ALROSA keeps rough prices unchanged for sixth straight month. Indian jewelers end 19-day strike with 1% excise duty still in place. Tiffany & Co. 2015 revenue -3% to $4.1B, profit -4% to $464M. Chow Sang Sang 2015 revenue -1% to $2.5B, profit +4% to $146M. Swiss watch Feb. exports -3% to $1.7B. Gem-A appoints Alan Hart as new CEO.


RapNet Data: March 24

Diamonds 1,138,561
Value $7,903,268,172
Carats 1,252,599
Average Discount -28.06%

www.rapnet.com
The RapNet Diamond Index (RAPI) is the average price for the top 25 diamond qualities (D-H, IF-VS2). It is based on the 10 best priced diamonds for each quality.


Get Current Price List | Subscribe to Rapaport |


Rapaport Single Stone Auction


QUOTE OF THE WEEK
It’s remarkable to have one stone illustrate the dramatic shift in attitude towards colored diamonds over the course of the last century.

Gary Schuler, co-chairman of Sotheby’s jewelry division for the Americas, on the auction of late entertainer and diplomat Shirley Temple's blue diamond ring for an estimated $25 million to $35 million

MARKETS

United States: Wholesale jewelers cautious with political and economic factors impacting sentiment during election year. Polished trading focused on better-quality RapSpec A2 diamonds which are in short supply...

Belgium: Diamond market on high alert after Brussels terror attacks. Access to Antwerp diamond bourses restricted on Tuesday and industry events cancelled...

Israel: Polished trading improving as new production becomes available. Shortage of better-quality RapSpec A2 diamonds and good demand for 0.30-1.99ct., D-H, VS-SI diamonds...

India: Dealers are optimistic as Mumbai trading stabilizes with consistent demand for specific categories. Polished inventory increasing after manufacturers raised production at the beginning of the year...

Hong Kong: Sentiment continues to improve with steady polished trading since March show. Good demand for GIA dossiers and 1ct., D-H, VS-SI diamonds...

Click here for deeper analysis

INDUSTRY

Antwerp on High Alert after Brussels Attacks

Antwerp’s diamond bourses were on high alert since terror attacks in Brussels March 22 that reportedly killed more than 30 people.

Access to the exchanges was restricted but trading continued. Instructions to the Belgian public to stay indoors were lifted 4 p.m. local time Tuesday but the security threat level across the country remained at 4, the highest level, at press time.

“There are no indications whatsoever of a direct threat towards the Antwerp diamond industry,” said Karen Rentmeesters, a spokesperson for the Antwerp World Diamond Centre, adding that the higher security level introduced following attacks in Paris in November has been maintained.

Standard Chartered Seeks to Curb $2B Diamond Exposure

Standard Chartered is demanding its clients in the Indian and Belgian diamond trade get more loan protection in a bid to tighten standards after lending about $2 billion to the industry, Bloomberg reported.

The London-based bank, one of the biggest lenders to the sector’s midstream, is asking diamond manufacturers to get payment insurance or provide 100% collateral, according to the report. Clients that cannot meet the terms may face higher interest charges or will not have their debt facilities renewed, the report said.

China’s 2015 Polished Imports -14%

China’s polished diamond imports declined 14% to $6.69 billion last year as the nation’s economy slowed and consumer sentiment dropped.

The country’s imports of polished fell in each of the first three quarters of 2015 from corresponding periods in the previous year, but picked up slightly in the final quarter, according to data released by the China Customs Information Center.

Indian Government Pledges Leniency on Excise Duty

The Indian government has pledged no arrests or prosecutions will be made in relation to a new tax on the jewelry industry and central excise officers will not visit jewelers until a new committee publishes its opinion on the matter.

Details have emerged of the deal that ended a nationwide jewelers’ strike over the 1% excise duty which saw members of the trade across India down tools for nearly three weeks.

The new sub-committee, chaired by Ashok Lahiri, a former chief economic adviser to the Indian government, will comprise government, customs and industry representatives and will liaise with the trade.

Swiss Watch Exports -3% in February

Swiss watch exports fell 3.3% in February to $1.7 billion (CHF 1.65 billion) as shipments to Hong Kong, the country’s biggest trade partner for timepieces, declined for a 13th consecutive month.

Exports to Hong Kong slumped 25% year on year to $216.8 million. Shipments to China fell 6.8% from a year earlier, while a 22% jump in exports to Japan and a 2.4% increase in outbound shipments to the U.S. supported the industry.

Kimberley Process Clarifies Position on CAR Exports

The office of the Kimberley Process (KP) chair has clarified reports of a deal to resume diamond exports from the Central African Republic (CAR).

Earlier in March, CAR’s minister of mines met with an executive of Sodiam, the country’s largest diamond miner, and agreed to follow a framework set out in July 2015 to gain KP compliance. The meetings were facilitated by KP chair Ahmed Bin Sulayem.

“The outcome was that both groups would abide by what was agreed in Luanda in July 2015 and to request the KP Monitoring Group provide a timetable for the resumption of diamond exports,” said Evgeny Garanin, a spokesperson for Bin Sulayem.

RETAIL & WHOLESALE

Shirley Temple Diamond up for Auction

Sotheby’s expects to sell late entertainer and diplomat Shirley Temple's blue diamond ring for $25 million to $35 million.

The cushion-cut, 9.54-carat, fancy deep blue, VVS2 diamond ring will be offered at Sotheby’s Magnificent Jewels auction in New York on April 19. The estimated price translates as up to $3.7 million per carat.

The child star’s father bought the ring for her for $7,210 in 1940 around the time of her 12th birthday and the premier of her film The Blue Bird.

Tiffany’s 2015 Sales Hit by Strong Dollar

Tiffany & Co. missed its own revenue forecast in 2015 as a strong dollar affected translation of non-U.S. sales into the greenback and hit foreign tourist spending in American markets. Macro-economic “challenges and uncertainties” also had a negative impact on sales, the jeweler said.

On a reported basis, worldwide net sales slid 3% to $4.1 billion in 2015, below Tiffany’s guidance of a low-single-digit increase. On a constant exchange-rate basis, revenue rose 2%, given the strength in Asia-Pacific, Japan and Europe.

U.S. Jewelry Prices +3% in February

The U.S. consumer price index (CPI) for jewelry rose 2.9% in February from a month ago, according to the U.S. Bureau of Labor Statistics. The reading was 6.2% higher from last year.

The decline comes as polished diamond prices increased during the month, with the RapNet Diamond Index (RAPI™) for 1-carat, GIA-graded diamonds rising 0.3%. Gold prices on Comex jumped 9% in February, according to data compiled by Bloomberg.

The February CPI for watches climbed 8.9% from a month earlier and 8.5% year on year.

Chow Sang Sang’s 2015 Sales -1%

Chow Sang Sang reported revenue dipped 1% in 2015 as stronger results from mainland China countered a drop in spending by visitors to Hong Kong amid an economic slowdown.

Group revenue fell to $2.46 billion (HKD 19.07 billion) as jewelry sales in Hong Kong and Macau, the company’s largest market, dropped 10% and same-store sales dived 11%. Total jewelry sales slipped 1% to $2.16 billion.


Christie’s to Auction 16-Carat Ruby and Diamond Ring

Christie’s will auction a ruby and diamond ring for an estimated $12 million to $15 million at its Magnificent Jewels sale in New York on April 20.

The oval-shaped, 15.99-carat 'Jubilee Ruby' within a circular-cut diamond and polished gold surround is signed Verdura. It is the “most important ruby of its caliber to be offered for sale at auction in the U.S. for over twenty five years,” Christie’s said in a note on its website.

Richemont Co-CEO to Leave

Compaignie Financi&egrave;re Richemont announced co-chief executive officer Bernard Fornas will exit his role March 31 and stand down from the luxury group’s senior executive committee and group management committee.

Fornas has served as co-CEO with Richard Lepeu since April 2013 and has been a member of the company’s board of directors since September 2013. He will retain his place on the board as a non-executive director and will serve on its nominations committee.

MINING

ALROSA Keeps Rough Prices Stable

ALROSA held rough prices stable for the sixth month running at its March contract sale as demand for the miner’s goods remained strong.

“ALROSA has not changed the prices for rough diamonds at the March trading session,” a company spokesperson told Rapaport News. “Thus, ALROSA prices remain unchanged since last year.”

The Russia-based miner last adjusted prices in September, when it reduced them by 8 to 10%.

Liqhobong Mine Set for 4Q Production Start

Firestone Diamonds said the Liqhobong Diamond Mine in Lesotho is on track for production to start in the fourth quarter, with plans in place to recover 1 million carats per year.

The project was 68% complete as of the end of February and remains on budget, the diamond development company said. Firestone also reported its loss grew 2.5% year on year to $4.6 million in the six months to December 31.

GENERAL

Gem-A Hires New CEO

The Gemmological Association of Great Britain (Gem-A) has appointed the Natural History Museum’s Alan Hart (pictured) as its new chief executive officer.

Hart, who will start at Gem-A June 1, joined the London museum in 1981, and since 2012 he has been both principal curator of gems and minerals and head of earth sciences collections.

RJC to Add Colored Gemstones to Coverage

The Responsible Jewellery Council (RJC) has added colored gemstones to its material coverage, the organization announced at the Baselworld show this week. The decision follows discussions with members, external stakeholders and the colored-gemstone sector over the past five years.

The scope of material currently under the RJC includes diamonds, gold and platinum-group metals.

Attendance Rises at JA New York Spring Show

JA New York said attendance at the three-day spring show increased this year, aided by the co-location with the Lueur buyer program and the MJSA Expo New York. The newly established March dates also contributed to the strong foot traffic, the show organizers said.

“We are extremely pleased with the level of traffic at the show,” said Drew Lawsky, group show director of JA New York. “Both our exhibitors and our retailers were consistently happy, and it was very rewarding to see business being done all the way up to the last few minutes of the day.”

Jewelry Industry Summit Concludes with Commitments

The Jewelry Industry Summit, a forum on sustainability and responsible sourcing, closed with commitments to pursue projects including harmonization of various standards and educating workers in the industry.

Large and small companies from across the jewelry pipeline attended the inaugural summit in New York from March 11 to 13, as well as representatives from the U.S. Department of State and other organizations such as banks and accountants.

ECONWATCH

Diamond Industry Stock Report

The conclusion of a long-running jewelers' strike saw Indian stocks mostly recover following declines, with Gitanjali Gems (+5.2%) heading the share-price rises. Elsewhere, mining stocks mainly lost value this past week, led by Rockwell Diamonds (-18%), but Firestone Diamonds (+7.7%) continued to rise on news that its mine in Lesotho is on track to start production in the fourth quarter. Birks Group (+30%) led otherwise mixed U.S. stocks. Most European and Far East jewelry and luxury stocks had an underwhelming week.

View the detailed industry stock report.
Mar. 24 (07:25 GMT) Mar. 17 (12:20 GMT) Chng.
$1 = Euro 0.90 0.89 0.01
$1 = Rupee 66.89 66.67 0.2
$1 = Israel Shekel 3.84 3.85 -0.01
$1 = Rand 15.43 15.39 0.04
$1 = Canadian Dollar 1.33 1.30 0.02

Precious Metals Chng.
Gold $1,215.48 $1,266.98 -$51.50 -4.1%
Platinum $954.75 $981.75 -$27.00 -2.8%
Silver $15.20 $15.68 -$0.48 -3.1%

Stock Indexes Chng.
BSE 25,337.56 24,677.37 660.19 2.7%
Dow Jones 17,502.59 17,325.76 176.83 1.0%
FTSE 6,199.11 6,150.68 48.43 0.8%
Hang Seng 20,300.03 20,503.81 -203.78 -1.0%
S&P 500 2,036.71 2,027.22 9.49 0.5%
Yahoo! Jewelry 1,083.16 1,066.82 16.34 1.5%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment March 31, 2016


Polished market stable with good demand for RapSpec A2, F-I, VS-SI dossiers. Dealers buying only what they have orders for and avoiding inventory purchases. Manufacturers cautious with large volume of new polished expected to enter the market over next few months. Rough prices steady with limited supply expected at next week’s De Beers sight. Miners post strong 1Q but inventory increased by 17M cts. ($2.8B) in 2015 as production was greater than sales. Petra Diamonds sells 32.33 ct. pink rough for $15M (464K/ct.). Indian jewelers resume strike to abolish 1% excise duty. Signet 2015 sales +14% to $6.6B, profit +23% to $478M. U.S. Feb. jewelry sales +5% to estimated $5.5B.


RapNet Data: March 31

Diamonds 1,134,732
Value $7,971,442,991
Carats 1,255,043
Average Discount -28.07%

www.rapnet.com


The RapNet Diamond Index (RAPI) is the average price for the top 25 diamond qualities (D-H, IF-VS2). It is based on the 10 best priced diamonds for each quality.
Get Current Price List | Subscribe to Rapaport | Join RapNet

RAPAPORT ANNOUNCEMENTS
Mar-Apr 29-6 Tue-Wed
Rapaport Melee Auction

New York & Dubai

View Details
April 6-13 Wed-Wed
Rapaport Single Stone Auction

New York & Israel

View Details
April 13-16 Wed-Sat
AGS Conclave

Washington, DC, USA

View Details
April 19-27 Tue-Wed
Rapaport Melee Auction

New York & Dubai

View Details
QUOTE OF THE WEEK
As long as the government won’t roll back the excise duty, the strike will continue.

Rajnish Chopra of the All India Bullion Jeweller & Swarnkar Federation on a strike by Indian jewelers over a new 1% excise duty that has been running for about 30 days.

MARKETS

United States: Polished trading stable with steady demand for 0.30 to 1.5 ct., G-J, SI-I1 diamonds. Difficult to find desirable SI, 3X eye-clean diamonds...

Belgium: Sentiment improving despite slow trading after Brussels terror attacks and long Easter weekend. Exhibitors frustrated by high cost and low exposure at Basel show...

Israel: Polished trading slow after March show season. Suppliers disappointed by Basel show...

India: Market is relatively quiet with slow domestic demand as the jewelers strike continues. Jewelers unhappy with government proposed compromise on 1% excise duty...

Hong Kong: Polished trading slower over the long Easter weekend but sentiment remains better than it was a month ago...

Click here for deeper analysis

INSIGHTS
De Beers Claims Greater Accuracy, Consistency in Diamond Grading

An announcement in February that the International Institute of Diamond Grading and Research (IIDGR) has launched its generic diamond grading program surprised very few, but was noteworthy. Through it, the De Beers Group entered what arguably is the most contentious space in the diamond distribution chain where concerns have grown over grading consistency and standards, or lack thereof, in the past few years.…

Click here to continue reading

INDUSTRY

Kimberley Process Study Aims to Standardize Rough Pricing

The United Arab Emirates-based chair of the Kimberley Process (KP) is consulting with key industry players over potentially devising the first set of global standards for pricing of rough diamonds.

Ahmed Bin Sulayem, the 2016 chair of the KP and executive chairman of the Dubai Multi-Commodities Centre, is in discussions with miners and the World Diamond Council (WDC) as part of a study aimed at determining best practice for valuing rough stones, with plans in place to reach initial findings by the annual KP intersessional meeting in Dubai in May.

Indian Jewelers’ Strike Continues

Swathes of Indian jewelers are still on strike over a new 1% excise duty, it has emerged, as industry bodies continue to protest the tax.

Some 300,000 shopkeepers across India, as well as their staff, have downed tools as part of the action, which is approaching its 30th day.

The GJF called off the strike on March 19 after an eight-hour meeting with the government that also involved the India Bullion and Jewellers Association and the Gem & Jewellery Export Promotion Council, a spokesperson for the All India Gems & Jewellery Trade Federation said. However, regional associations are still going ahead with the walkout, he added.

Kingold Jewelry’s Sales -10% in 2015

Kingold Jewelry, a China-based designer and manufacturer of gold products, reported sales fell 9.7% to $1 billion last year as the price of the precious metal fell.

The price of the precious metal on Comex declined 11% in 2015, according to data compiled by Bloomberg. Revenue was also negatively affected by currency exchange-rate fluctuation, the Wuhan-headquartered company said.

RETAIL & WHOLESALE

U.S. Jewelry, Watch Sales Increase in February

U.S. jewelry and watch sales from all retail outlets rose 4.5% to an estimated $6.17 billion in February, according to provisional data from the government.

Jewelry sales in February advanced 4.5% to an estimated $5.45 billion, while watch sales rose 5.2% to $722 million, according to Rapaport News calculations. Both have now enjoyed 10 straight months of growth.


Signet’s 4Q Revenue +5%

Signet Jewelers reported revenue rose 5.1% to $2.39 billion in its fourth fiscal quarter on strong diamond fashion jewelry sales in the Sterling Jewelers and Zale divisions.

In the 13 weeks to January 30, the average transaction value at Sterling jumped 6%, even as the number of transactions fell 2.3%, driven principally by the strength in diamond fashion jewelry. Sales in the Sterling division advanced 6.9% to $1.45 billion.

The company saw a similar pattern at Zale, where sales increased 2.9% to $655.1 million, with diamond fashion jewelry and bridal driving a 6.2% increase in the average transaction price.


Pink Diamond Appreciates up to 500% since 2007

Christie’s will auction a pink diamond ring for $8 million to $12 million that has appreciated up to 500% in less than a decade since being bought by a South Florida man for his wife.

The 10.07-carat, cushion modified brilliant-cut, fancy intense purple-pink gem flanked on either side by a triangular-shaped diamond will be on offer at the auctioneer’s Magnificent Jewels sale in New York on April 20.

The appreciation from the $2 million purchase price in 2007 comes amid an increase in the value of pink diamonds as supply is forecast to run out and demand has spiked, according to the stone’s appraiser.

Blue Nile to Open First West-Coast ‘Webroom’

Blue Nile will open a ‘webroom’ in Portland, Oregon, this summer, marking the online retailer’s fourth foray into the bricks-and-mortar business and its first physical presence on the U.S. West coast.

Blue Nile is pioneering the online-offline hybrid retail model with one store already in operation in New York and two more set to open on the East coast by early summer. The concept allows shoppers to try on jewelry and browse Blue Nile’s selection on an in-store iPad with the help of non-commissioned consultants.

MINING
Chinese Firms ‘Show Interest’ in Russian Assets

Chinese companies are showing interest in buying Russian state assets such as ALROSA as the government privatizes some of the nation’s largest publicly owned businesses, news agency TASS reported.

“Generally the interest is there,” the Russian news service cited Deputy Prime Minister Arkady Dvorkovich as saying.

Separately, the Moscow Exchange is considering a proposal from ALROSA to develop an exchange trade in diamonds, TASS cited the bourse’s chief executive officer Alexander Afanasyev as saying.

Petra Sells 32-Carat Pink Rough Diamond for $15M

Petra Diamonds sold a 32.33-carat rough diamond from its Williamson mine in Tanzania for $15 million.

The price of the pink diamond translates to $463,965 per carat, Petra said. The miner will also receive 10% of the added value of the polished that comes from the stone.

Golden Yellow Diamonds bought the gem on behalf of M.A. Anavi Diamond Group, which specializes in large colored diamonds.

ALROSA Launches in Vladivostok to Target China

ALROSA will open a branch in the Russian city of Vladivostok, near the country’s border with China, in a bid to increase sales to Asia-Pacific nations and improve cooperation with companies in the region.

The launch, approved by the miner’s supervisory board March 20, is the first step in the creation of a Russian Diamond Centre within the Vladivostok Free Port opened last year.

Lucapa Discovers 68-Carat Diamond at Angola Mine

Lucapa Diamond Company found yet another large diamond, weighing 68.1 carats, at its Lulo mine in Angola, providing further evidence the site is at the “heart of a large diamond province.”

The type-IIa, D-color gem is one of eight “special” diamonds found during trial mining of gravels from the E46 alluvial terraces. The weight of other precious stones found alongside the big diamond ranged from 11.5 carats to 30.5 carats, according to the Australia-based miner.


Tango Gets $30M Loan for Botswana Mine Deal

Tango Mining has secured a $30 million loan from Vanderbilt Commercial Lending that will fund the delayed acquisition of a mine in Botswana from Firestone Diamonds after being granted an extension to raise funds for the purchase.

This follows Tango being given until April 8 to raise the $7.65 million balance of the consideration to buy the BK11 diamond mine in the Orapa/Letlhakane region after it failed to pay a deposit before an earlier deadline last September.


Stornoway Advances Schedule for Renard Mine

Stornoway Diamond Corporation has brought forward plans for the Renard mine in Canada, with commercial production now expected to start by December 31.

This represents a five-month improvement on a previous schedule, the diamond exploration and development company said. First ore delivery is now expected by the end of September.

Stellar Diamonds Narrows 1H Loss

Stellar Diamonds, a West Africa-focused exploration and development company, lowered its loss by 5.2% in its first fiscal half by cutting costs.

The company narrowed its loss to $886,463 in the six months to December 31 from $934,928 a year earlier as it slashed administrative expense by 29%.

During the period, the company focused on trial mining production and resource building at the Baoulé project in Guinea and taking the Tongo kimberlite project in Sierra Leone into production.

Botswana Diamonds Kicks Off Orapa Exploration

Botswana Diamonds widened its loss in the first half of its current fiscal year, the company said, as it kicked off its exploration project in Botswana with partner ALROSA.

The loss grew to $388.4 million (GBP 274 million) in the six months to December 31 from a $211.1 million deficit reported for the same period a year earlier.

The exploration company started sampling at two licenses in the Orapa region of Botswana March 21. Diamond drilling is expected to start in the first week of April.

GENERAL

Baselworld Exhibitors, Buyers Traffic -3%

Baselworld 2016, a global watch and jewelry exhibition, ended March 24, with the number of exhibitors, buyers and visitors falling 3% over the previous show for the second year running. More than 145,000 people attended the show from over 100 countries.

The annual show, organized in Switzerland, was held amid a downturn in the nation’s watch industry, with exports of Swiss timepieces falling 3.3% in 2015 and by the same proportion in February this year.

Jewelers Board of Trade Elects Chair

The Jewelers Board of Trade (JBT) announced Todd Wolleman of New York-based colored stone specialist Leo Wolleman has been elected chairman for a one-year term.

Michael Kaplan of Rocket Jewelry Box in New York will serve as first vice-chairman and Ann Arnold of Arnold Advisory Group in Norwood, New Jersey, will be second vice-chairman during the 12-month period.

ECONWATCH
Diamond Industry Stock Report

Firestone Diamonds (+22%) continued to perform strongly on positive reports about the progress of its Liqhobong mine in Lesotho. In India, several industry stocks dipped as a jewelers' strike continued. Declines were led by Goenka Diamond (-7.9%), but C.Mahendra (+7.7%) bucked the trend. U.S. retail shares were generally stable or slightly higher this past week, headed by Blue Nile (+6%), but Birks Group (-17%) led the losses.

View the detailed industry stock report.
Mar. 31 (08:00 GMT) Mar. 24 (07:25 GMT) Chng.
$1 = Euro 0.88 0.90 -0.01
$1 = Rupee 66.24 66.89 -0.7
$1 = Israel Shekel 3.78 3.84 -0.06
$1 = Rand 14.89 15.43 -0.54
$1 = Canadian Dollar 1.30 1.33 -0.03

Precious Metals Chng.
Gold $1,229.55 $1,215.48 $14.07 1.2%
Platinum $965.58 $954.75 $10.83 1.1%
Silver $15.25 $15.20 $0.05 0.3%

Stock Indexes Chng.
BSE 25,379.41 25,337.56 41.85 0.2%
Dow Jones 17,716.66 17,502.59 214.07 1.2%
FTSE 6,159.62 6,199.11 -39.49 -0.6%
Hang Seng 20,706.39 20,300.03 406.36 2.0%
S&P 500 2,063.95 2,036.71 27.24 1.3%
Yahoo! Jewelry 1,077.29 1,083.16 -5.87 -0.5%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment April 7, 2016


Diamond markets quiet after positive first quarter. March 1 ct. RAPI unchanged, 1Q up +1.4%. Selective buyers offering lower prices as inventories rise and new supply becomes available. High-quality 3 ct.+ demand very weak. Rough trading steady during De Beers sight with reports of a 2-3% price increase. ALROSA cuts 2015 production target to 37-39M cts. Lukoil’s 2015 Grib Diamonds revenue reaches $162M. Sotheby’s HK sells $73M (66% by lot) with De Beers oval, 10.10 ct., fancy vivid blue, IF diamond selling for $31.8M ($3.2M/ct.). Belgium’s March polished exports -6% to $1.2B, rough imports -30% to $979M. Jacques Korn elected president of Antwerp Diamond Bourse.


RapNet Data: April 7

Diamonds 1,158,944
Value $8,033,788,292
Carats 1,279,171
Average Discount -28.28%

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 6-13 Wed-Wed
Rapaport Single Stone Auction

New York & Israel

View Details
April 13-16 Wed-Sat
AGS Conclave

Washington, DC, USA

View Details
April 19-27 Tue-Wed
Rapaport Melee Auction

New York & Dubai

View Details
May 11-18 Wed-Wed
Rapaport Single Stone Auction

New York & Israel

View Details

QUOTE OF THE WEEK
The Oppenheimer Blue can only be described as one of the rarest gems in the world. It is the gem of gems.

François Curiel, chairman of Christie’s Asia Pacific and China, on the 14.62-carat diamond due to be auctioned in Geneva in May for an estimated $38 million to $45 million.

MARKETS

United States: Polished trading stable. Ovals in short supply and easier to sell as rounds inventory increases. Good demand for 0.30 to 1.99 ct., G-J, VS2-I1 diamonds. High-quality big-stone demand very weak...

Belgium: Activity quieter and sentiment weaker in April. Rising concern about sluggish European consumer demand and synthetic diamonds. Steady demand for 0.30 to 1 ct., G-I, VS-SI diamonds...

Israel: Polished trading slowed since March Hong Kong show with sluggish big-stone demand. Steady demand for 0.30 to 0.99 ct., D-H, VS-SI, RapSpec A2 diamonds. Steady fancy shape demand for ovals, pears and emeralds...

India: Market is relatively quiet with slow domestic demand as the jewelers strike continues. Jewelers unhappy with government proposed compromise on 1% excise duty...

Hong Kong: Sentiment improving and dealers expect 2016 to be better than last year. Polished trading picked up since Easter break with stable demand for dossiers and 1 ct., D-J, VS-SI RapSpec A2 diamonds...

Click here for deeper analysis

RAPAPORT COMMENT

Synthetic Diamond Scam

Martin Rapaport takes on the issue of synthetic diamonds in his “Synthetic Diamond Scam” article and in an open letter he calls out Leonardo DiCaprio for falsely claiming that his synthetic diamonds are more ethical than legitimate natural diamonds from artisanal diggers. Rapaport pleads with DiCaprio to use his fame and fortune to support fair trade diamond jewelry which can significantly improve the lives of millions of the poorest people on earth.

Click here for the article | Click here for the open letter

INDUSTRY

Polished Diamond Prices Stable in March

Polished diamond prices were stable in March supported by steady dealer trading even though the outlook for consumer demand remains uncertain. In the first quarter, sentiment improved as polished prices rose and profitability increased on select new production.

The RapNet Diamond Index for 1-carat, GIA-graded diamonds was flat in March. RAPI for 0.30-carat diamonds fell 0.6% and RAPI for 0.50-carat diamonds was unchanged. RAPI for 3-carat diamonds slipped 0.4%.

In the first quarter, RAPI for 1-carat diamonds rose 1.4%, extending the uptrend from the fourth quarter. However, the index fell 4.6% below its level last year.

DPA's Marketing Campaign to Debut in June

The Diamond Producers Association (DPA) will introduce its marketing campaign at the JCK Las Vegas jewelry show in June, it said this week.

“The DPA will be presenting its campaign to the trade for the first time in Las Vegas at JCK,” said Sally Morrison, the DPA’s managing director of marketing.

The promotions drive will come just over a year after the DPA was formed in May 2015 by seven leading diamond miners.

Belgium’s Diamond Trade Slides in March

Belgium’s polished diamond exports fell 5.9% year on year to $1.16 billion in March, according to the Antwerp World Diamond Centre. By volume, polished exports slid 8.1% to 489,611 carats, while the average price climbed 2.4% to $2,372 per carat.

Among Belgium’s main trading partners, polished exports to Hong Kong plummeted 53% but shipments to Switzerland increased 8.5%. Exports to the U.S. rose 9.6%.

RBI Relaxes Credit Terms on Diamond Imports

The Reserve Bank of India has allowed authorized dealer banks to extend the period for which “clean credit” can be provided for rough and polished diamond imports, the Gem and Jewellery Export Promotion Council (GJEPC) reported.

Clean credit refers to a loan provided by a foreign supplier to its Indian customer for importing diamonds without formal guarantees such as a letter of credit or undertaking by an Indian financial institution, the GJEPC explained. Under the new rules, credit can be given for more than 180 days from the date of shipment, whereas previously there was a 180-day restriction on the timeline.

Korn Elected Antwerp Diamond Bourse President

The Antwerp Diamond Bourse has appointed Jacques Korn, a 40-year industry veteran, as president and Rajender Gahani as executive director.

Korn, who was previously the bourse’s executive director, also sits on the board of the Antwerp World Diamond Centre (AWDC). Both Korn and Gahani will serve a four-year term.

RETAIL & WHOLESALE

De Beers Blue Diamond Fetches $32M

Sotheby’s sold the ‘De Beers Millennium Jewel 4’ for $31.8 million (HKD 248.3 million) in Hong Kong, setting a record for the highest price ever paid for a jewel at an auction in Asia.

The oval-shaped, 10.10-carat, fancy vivid blue, internally flawless gem fetched $3.2 million per carat. In total, the auctioneer’s Magnificent Jewels and Jadeite auction on April 5 sold $73.3 million of jewels, or 65.7% by lot and 69.3% by value.


Christie’s to Auction Record-Breaking Blue Diamond

The largest fancy vivid-blue diamond ever to be put up for auction is set to go under the hammer at Christie's, marking the latest in a string of large colored diamonds coming up for sale.

The 14.62-carat ‘Oppenheimer Blue’ will lead Christie’s Magnificent Jewels auction in Geneva on May 18, with an estimated value of $38 million to $45 million. The stone is named after its previous owner Sir Philip Oppenheimer, who was the chairman of De Beers Diamond Trading Company from 1975 until his death in 1995.

DGSE Sales Decline 14% in 2015

Sales at DGSE Companies dived 14% in 2015 because of weakness in its jewelry and scrap businesses, according to the pawnbroker.

Revenue dropped to $60.9 million in 2015 from $70.7 million the previous year. The company, which buys and sells jewelry, diamonds, fine watches, coins and precious metals, recorded a loss from continuing operations of $2.3 million, compared with a loss of $635,693 in 2014.

MINING

ALROSA Cuts Production Target for 2016

ALROSA lowered its guidance for production of rough diamonds in 2016 in a bid to reduce accumulated inventory from last year.

In a meeting on April 1, the company cut its target for production to between 37 million and 39 million carats, from 39 million carats. The revision will be achieved by implementing an employee-leave schedule, implying a reduction in output won’t impact jobs or productivity, management explained.

Lukoil’s Diamond Sales Hit $162M in 2015

Lukoil’s revenue from diamond sales hit $162 million (RUB 11 billion) in 2015 as the company increased output at its Grib mine. Sales in the prior year stood at $15 million given that production started in September 2014.

The majority of Lukoil’s diamond output is sold via its Antwerp-based Grib Diamonds subsidiary. About 20% of the goods are sold independently in Russia.

First Kimberlite Sales from Lace Mine in 85 Years

DiamondCorp recorded a sale of kimberlite diamonds from its Lace mine in South Africa for the first time since 1931, achieving an average price of $175 per carat.

The mining and exploration company sold 6,247 carats of kimberlite diamonds of more than 1.25 millimeters in diameter for $1.1 million. The company sold a further 2,401 carats of fine diamonds and stones from tailings for $46,000, or $19 per carat, giving a total of 8,648 carats of all sizes of rough diamonds.

Gemfields Emerald Auction Fetches $33M

Gemfields raised $33.1 million after fetching record average prices at its emerald auction in Lusaka, Zambia, from March 30 to April 3.

The company sold 469,000 carats of the 558,000 carats of emeralds on offer at an average price of $70.68 per carat, a record at the company’s auctions. Of the 18 lots presented, 16 were sold.

Stornoway Raises Production Guidance for Renard Mine

Stornoway Diamonds reported that its Renard project will likely yield 25% more diamonds than projected and operate for four more years than expected as the mine prepares for commercial production by year-end.

An updated plan revealed a surge in the Canadian mine's probable mineral reserve from 17.9 million to 22.3 million carats, extending its operating life from 11 to 14 years.


Kennady Diamonds Hires Dedicated CEO

Kennady Diamonds has appointed Rory Moore as its president and chief executive officer, effective May 1. Moore is a former CEO of Mineral Services Group of Companies and Canabrava Diamond Corp.

Moore replaces Patrick Evans, who has led the diamond exploration company since its incorporation in 2012 and remains president and CEO of Kennady Diamonds’ parent company, Mountain Province Diamonds. The appointment comes as Kennady Diamonds’ exploration project in Canada has advanced to the stage that it requires a dedicated CEO, the company said.

GENERAL

JBT Appoints Former HSBC Credit Specialist as President

The Jewelers Board of Trade (JBT) said it appointed Anthony Capuano as its new president.

Capuano is a former vice-president and senior relationship manager at HSBC Bank, where has was responsible for the bank’s New York diamond and jewelry portfolio. He previously held similar positions at Scotia Mocatta, part of Scotiabank, and Bank of America. He replaces Dione Kenyon, who will retire later this spring after helping with the leadership transition.

Cecilia Gardner to Step Down as JVC Chief

The Jewelers Vigilance Committee (JVC) said its longstanding chief executive officer and president, Cecilia Gardner, will step down at the beginning of 2017.

Gardner’s exit will follow JVC’s planned celebration for completing 100 years. Discussions are ongoing with the executive committee over the scope of Gardner’s continued role at JVC, a company she has led since being promoted from general counsel in 2005.

Israel Bourse to Hold Rough Diamond Week

The Israel Diamond Exchange (IDE) is seeking to expand the third International Rough Diamond Week in May, the organizers said.

“After the success of the first two events, we are now seeking to expand this into a truly international rough marketplace. This will in turn enable us to offer a larger and more varied rough supply to both local and foreign buyers,” said Yoram Dvash, president of the IDE.

Ex-Cartier Chairman Joins Upstart Jewelry Brand

Ralph Destino, a former chairman of Cartier and the Gemological Institute of America (GIA), has joined jewelry upstart CADAR to guide the company’s entry into the industry.

Destino, who has joined CADAR as a director, will particularly focus on developing the company’s relationships with retail jewelers across the U.S

ECONWATCH

Diamond Industry Stock Report

U.S. and European retail stocks suffered this past week, led by Movado Group (-8%) on disappointing guidance. Indian stocks were mixed, with rises led by Lypsa Gems (+7.3%). Stellar Diamonds (-13%) and Firestone Diamonds (-11%) headed the declines among miners, while most other mining stocks were steady or slightly increased.

View the detailed industry stock report.
Apr. 7 (10:47 GMT) Mar. 31 (08:00 GMT) Chng.
$1 = Euro 0.88 0.88 0.00
$1 = Rupee 66.56 66.24 0.3
$1 = Israel Shekel 3.78 3.78 0.01
$1 = Rand 15.20 14.89 0.31
$1 = Canadian Dollar 1.31 1.30 0.01

Precious Metals Chng.
Gold $1,236.41 $1,229.55 $6.86 0.6%
Platinum $954.50 $965.58 -$11.08 -1.1%
Silver $15.18 $15.25 -$0.07 -0.5%

Stock Indexes Chng.
BSE 24,685.42 25,379.41 -693.99 -2.7%
Dow Jones 17,716.05 17,716.66 -0.61 0.0%
FTSE 6,162.13 6,159.62 2.51 0.0%
Hang Seng 20,266.05 20,706.39 -440.34 -2.1%
S&P 500 2,066.66 2,063.95 2.71 0.1%
Yahoo! Jewelry 1,087.12 1,077.29 9.83 0.9%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment April 14, 2016


Rough markets firm as De Beers sells $660M in sales cycle 3 (April) following $617M in cycle 2 (Feb.) Steady mid-single-digit premiums for many De Beers boxes. Dealers speculating on over-priced big stone rough but demand for larger polished is weak. Polished markets slowing. China clamping down on overseas luxury purchases with 15% tax on jewelry imports by “daigou” tourist shoppers and online buyers. Chow Tai Fook 3Q sales -26% impacted by Chinese tourists moving purchases overseas. LVMH 1Q watch & jewelry revenue +7% to $884M. Dominion 2015 revenue -21% to $721M, loss of $34M vs. profit of $67M. U.S. Feb. polished imports +0.3% to $1.8B, polished exports +10% to $2B.


RapNet Data: April 14

Diamonds 1,151,181
Value $7,896,534,093
Carats 1,256,535
Average Discount -28.16%

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 19-27 Tue-Wed
Rapaport Melee Auction

New York & Dubai

View Details

May 11-18 Wed-Wed
Rapaport Single Stone Auction

New York & Israel

View Details
May 17-25 Tue-Wed
Rapaport Melee Auction

New York & Dubai

View Details

QUOTE OF THE WEEK
So far, 2016 has seen significantly stronger rough diamond demand than that experienced at the end of 2015 as the actions taken by the industry continue to have a positive effect.

Philippe Mellier, CEO of De Beers, on the miner’s latest rough sales increase

MARKETS

United States: Polished trading slows in April. Steady demand for bread-and-butter 0.30 to 1.99 ct., G-J, SI-I2 diamonds. Suppliers holding prices firm while buyers find it difficult to fill specific orders...

Belgium: The market is stable. Good dealer demand for specialty items such as fancy color and certain fancy shape diamonds. Pears and ovals steady, cushions slower and princess cuts weak...

Israel: Polished trading cautious amid tough market for large diamonds. Sluggish activity in April with dealers ready to take vacation during 7-day Passover holiday (April 22-28)...

India: Trading slowed in the past two weeks after positive first quarter. Buyers resisting higher prices for new polished supply. Good Far East demand for GIA dossiers with some shortages in RapSpec A2 diamonds...

Hong Kong: Polished demand is order specific and there is very little buying for inventory. Fancy colors doing better than colorless stones with good demand for rare pink and blue diamonds...

Click here for deeper analysis

INSIGHTS

Will Upbeat Rough Demand Slow the Diamond Market Recovery?

Rough diamond trading was surprisingly upbeat in April given that polished demand is restrained and inventory levels continue to rise. After a good first quarter, in which rough and polished trading was driven by restocking of the midstream, concern deepened this month that an oversupply of polished diamonds will pressure the market…

Click here to continue reading

INDUSTRY

De Beers April Sales Rise to $660M

De Beers reported sales of rough diamonds jumped to $660 million in its April cycle as stability in both polished prices and wholesale activity supported solid demand.

Sales were 7% above the February second-cycle revenue, which was revised up to $617 million. The result compares with an estimated $536 million of sales recorded in the third sight a year ago and is also significantly stronger than the sights in the second half of 2015, according to Rapaport News records.

Amid strong demand in the first quarter, De Beers increased prices by low single-digit percentages.

China Hikes Taxes on Informal Jewelry Imports

Chinese authorities have moved to crack down on a "gray" market in luxury imports by raising taxes on jewelry and watches.

The government increased tariffs on watches ordered from abroad to 60% from 30% and on jewelry to 15% from 10% effective from April 8, according to a Reuters report.

The measures are directed at individual shoppers – known as ‘daigous’ – who bring suitcases full of luxury goods into the country and then resell them in person or online.


Indian Jewelers End Six-Week Strike

Indian jewelers called off a strike against a 1% tax after about six weeks amid signs that the government will not budge on the new excise duty.

At least 90% of jewelers around the country returned to work April 13 but negotiations between the All India Gems & Jewellery Trade Federation and the government continue, a spokesperson for the industry body said.

The end of the strike comes at an opportune time ahead of the festival of Akshaya Tritiya on May 9, which Indians mark by buying gold.

U.S. Polished Exports Leap in February

The U.S. trade in polished diamonds showed an uptick in February as exports jumped 10%, while imports were steady.

Imports of cut diamonds nudged up 0.3% year on year to $1.75 billion, with the average price rising 4.6% to $2,273 per carat. Inbound shipments by weight fell 4%.

Polished diamond exports, meanwhile, jumped 10% to $1.97 billion despite a decrease in total volume as the average price per carat soared 39% to $1,537 per carat.

RETAIL & WHOLESALE

Pink Diamond Tops Sotheby’s Geneva Billing

Sotheby’s expects to sell a 15.38 carat "supremely rare" pink diamond for $28 million to $38 million (CHF 27.2 million to CHF 36.9 million) at an auction in Geneva next month.

The pear-shape, type IIa diamond known as the “Unique Pink” will go under the hammer at the Magnificent Jewels and Noble Jewels auction May 17. It is the largest fancy vivid pink pear-shaped diamond to be offered at auction.

Chow Tai Fook’s Sales Hit by China, Hong Kong Downturn

Chow Tai Fook reported quarterly same-store sales from China and Hong Kong plunged as a weaker consumer sentiment and the region’s economic slowdown dampened performance.

Same-store revenues dived 26% in the fourth fiscal quarter that ended March 31, the Hong Kong-based jewelry retailer said, with total sales dropping 26%, or 22% ex-currency. Gem-set jewelry sales fell 23%.

U.S. Jewelry Store Revenues Hit High in February

U.S. jewelry store sales in a seasonally-strong February surpassed the highest level the month has seen in years as shoppers ploughed $2.66 billion in specialist retailers.

Sales in the month that includes Valentine’s Day jumped 7.7% from a year ago, according to the U.S. Census Bureau. The increase appears to validate an upward trend seen in an earlier data release that showed a 4.5% rise in jewelry and watch revenues across all retail outlets in February.

LVMH’s 1Q Jewelry & Watch Revenue Rises

LVMH Moët Hennessy Louis Vuitton’s watch and jewelry sales jumped 7% in the first quarter driven by the Bulgari brand and the company's connected smartwatch.

With sales of $884.1 million (EUR 774 million), watches and jewelry was the luxury group’s joint fastest-growing business group by revenue in the three months to March 31, alongside perfumes and cosmetics.

New Zealand, U.S. Growth Boosts Michael Hill's Sales

Michael Hill reported revenue jumped 9.1% year on year to $320.2 million (AUD 420.8 million) in its first three fiscal quarters as sales advanced in each of its regional divisions.

Total same-store sales rose 5.1% in the nine months to March 31, the New Zealand-based jeweler said. The biggest same-store revenue increase in local currency terms was recorded on the home turf, at 6.5%, while the U.S. registered the fastest growth in all sales with a 29% surge.

MINING

Dominion Swings to Loss in Fiscal 2016

Dominion Diamond Corporation declared a net loss in fiscal 2016. This was due to a weaker diamond market coupled with lower gem prices throughout the year, which cut revenue from the company's two Canadian mines.

The company recorded a $38.8 million loss over a year to January 31, compared with a profit of $73.6 million in fiscal 2015. Sales dived 21% to $720.6 million as revenue from the Ekati mine that the company owns outright slid 18% and the Diavik pit, where Dominion has a 40% ownership, suffered a 27% drop.

Lucapa’s Lulo Mine Posts Record 1Q Sales

Lucapa Diamond Company said quarterly diamond sales from its Lulo project in Angola hit a record after the largest diamond in the nation’s history fetched a staggering $16 million.

Revenue in the three months to March 31 surged to $23.1 million, which is more than double the total sales for 2015, with the average price catapulting to $11,983 per carat from a sale of 1,931 carats. Sales at the Lulo Diamond Project commenced in the second quarter of last year.

India Plans Diamond-Mine Auction Debut

India is set to auction off a diamond mine for the first time, according to a Reuters report that cited India’s mines secretary Balvinder Kumar.

The Indian state of Madhya Pradesh in the center of the country plans to float tenders for the auction of the 136-hectare Hatupur block, with the process likely to be completed in “about forty days,” according to the report. The mine has 604,336 tonnes of mineral resource

GENERAL

Bain Predicts Luxury Uptick

Demand for personal luxury goods in the U.S. and China is set for resurgence next year, lifting growth in the $285 billion (EUR 250 billion) market that hit a trough in 2016, according to a Reuters report.

Luxury sales will grow about 1% at constant exchange rates this year compared with a 1.5% increase in 2015, the news agency reported, citing Bain & Co. Over the next five years, the personal luxury goods industry will grow 2% to 3% per annum.


ECONWATCH

Diamond Industry Stock Report

Mining stocks strengthened this past week as investor confidence was buoyed by De Beers latest increase in rough sales. The diamond producer's parent, Anglo American (+30%), led the rises, followed by Petra Diamonds (+15%) and Rio Tinto (+15%). Several U.S. stocks dipped, headed by Nordstrom (-5%) and JC Penney (-4.9%), in a week that saw disappointing nationwide retail figures for March. In the Far East, Chow Tai Fook advanced 8.1% despite reporting a large quarterly sales decline.

View the detailed industry stock report.
Apr. 14 (10:49 GMT) Apr. 7 (10:47 GMT) Chng.
$1 = Euro 0.89 0.88 0.01
$1 = Rupee 66.59 66.56 0.0
$1 = Israel Shekel 3.79 3.78 0.01
$1 = Rand 14.53 15.20 -0.67
$1 = Canadian Dollar 1.28 1.31 -0.03

Precious Metals Chng.
Gold $1,240.18 $1,236.41 $3.77 0.3%
Platinum $991.00 $954.50 $36.50 3.8%
Silver $16.12 $15.18 $0.94 6.2%

Stock Indexes Chng.
BSE 25,626.75 24,685.42 941.33 3.8%
Dow Jones 17,908.28 17,716.05 192.23 1.1%
FTSE 6,360.00 6,162.13 197.87 3.2%
Hang Seng 21,337.81 20,266.05 1,071.76 5.3%
S&P 500 2,082.42 2,066.66 15.76 0.8%
Yahoo! Jewelry 1,124.51 1,087.12 37.39 3.4%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment April 21, 2016


Polished trading quiet. Suppliers refusing low offers for better-quality RapSpec A2 diamonds. Manufacturing profit declining with high rough prices and weak polished demand. Rising expectations for U.S. demand as Dow surpasses 18,000. De Beers 1Q production -10% to 6.9M cts., sales -10% to 7.6M cts. ALROSA 1Q production -2% to 8.2M cts., sales +34% to 12.1M cts. Sotheby’s NY sells $30M (71% by lot) but Shirley Temple 9.54 ct. blue diamond fails to sell. Israel 1Q polished exports -17% to $1.4B. Israeli police probing Hanan Abramovici over $60-65M owed to bourse members. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON APRIL 29 DUE TO THE JEWISH HOLIDAY OF PASSOVER.


RapNet Data: April 21

Diamonds 1,163,906
Value $8,004,379,054
Carats 1,273,158
Average Discount -28.36%

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
April 19-27 Tue-Wed
Rapaport Melee Auction

New York & Dubai

View Details
May 11-18 Wed-Wed
Rapaport Single Stone Auction

New York & Israel

View Details
May 17-25 Tue-Wed
Rapaport Melee Auction

New York & Dubai

View Details

QUOTE OF THE WEEK
The Israel Diamond Exchange board of directors will show zero tolerance to anyone who brings harm to other bourse members.

IDE managing director Eli Avidar commenting on an investigation into tens of millions of dollars owed to traders by Hanan Abramovici Diamonds Ltd

MARKETS

United States: Quiet polished trading with many New York dealers taking vacation during next week’s Passover holiday. Buyer’s market developing as suppliers reduce prices on unwanted excess inventory...

Belgium: Confidence low and trading slow. Dealers focused on filling orders with very little buying for inventory. Steady demand for pointer sizes and 1 to 2 ct., G-J, VS-SI diamonds...

Israel: Sentiment weak with default of estimated $60-65M owed to the trade by Hanan Abramovici. Trade is concerned bankruptcies may follow. Polished trading slow. Big-stone demand weak with limited selective orders...

India: Trading is relatively slow and the market is expected to be quiet through April-May. Weak domestic demand resulting from jewelers’ strike impacting cash flows in the diamond sector...

Hong Kong: Polished trading stable, continuing momentum since the March show. Concern about softening prices and weak big-stone demand. Steady demand for 0.30 to 1 ct., D-J, VS-SI, 3X diamonds...

Click here for deeper analysis

INDUSTRY

Police, Israel Bourse Probe Trader’s Debts

The Israel Diamond Exchange (IDE) said it is investigating complaints from “several” bourse members that a cash-strapped trader owes them tens of millions of dollars.

Hanan Abramovici Diamonds Ltd. owes the money for goods it bought from traders, the IDE said. Israel’s business daily Globes reported $60 million to $65 million worth of diamonds are involved and “up to a dozen” gem companies could potentially go bankrupt as a result.

A spokesperson for the Israeli police said it is investigating the case.


India U-Turns on Koh-i-Noor

India’s culture ministry said it will make every effort to bring back the 105.6-carat Koh-i-Noor diamond, days after the nation’s solicitor-general stated it should stop claiming it, The Guardian reported.

Solicitor-General Ranjit Kumar told the nation’s Supreme Court April 18 India should give up its claim to the gem, part of Britain’s crown jewels for more than 100 years, because it was “neither stolen nor forcibly taken by British rulers."

But, on April 19, India’s culture ministry issued a statement saying it was yet to make its position known, and that India’s government would make all possible efforts to bring back the diamond, according to the report.


Israel’s Polished Exports -17% in 1Q

Israel’s polished-diamond exports dived 17% to $1.44 billion in the first quarter.

In volume terms, polished exports dropped 15% to 528,310 carats, resulting in a 2.1% decline in the average price to $2,720 per carat.

Polished exports to the U.S., after returns, slid 21% to $499.2 million over January to March, according to data compiled by the Ministry of Industry, Trade and Labor.


GHI Gemological Laboratory Reports to be Listed on RapNet

GHI Gemological Laboratory said its diamond reports will be listed on RapNet – Rapaport’s Diamond Trading Network, as the lab expands its presence in the marketplace.

Diamonds with GHI reports have been available in U.S. retail stores and online since 2015, according to the company, which has labs in New York, Los Angeles and Miami. GHI labs specialize in identifying and evaluating loose white diamonds and white-diamond jewelry.

RETAIL & WHOLESALE

Shirley Temple’s Blue Diamond Unsold at Auction

A 9.54-carat fancy deep blue diamond once owned by entertainer and diplomat Shirley Temple failed to sell at Sotheby’s auction in New York.

“Unfortunately, tonight wasn’t its night in the salesroom, but we remain fully confident that it will find a buyer,” Sotheby’s said.

The gem, estimated at $25 million to $35 million, led the Magnificent Jewels sale, which fetched $29.9 million in total, with 71% sold by lot.

‘Jubilee Ruby’ Fetches $14M at Christie’s New York

A 15.99-carat Burmese ruby sold for $14.2 million at Christie’s New York Magnificent Jewels auction in New York on April 20.

The oval-shaped stone within a circular-cut diamond and polished gold surround, known as the ‘Jubilee Ruby,’ fetched $885,866 per carat. The item, which was estimated at $12 million to $15 million, was the highlight of the auction. The auction realized a total of $57 million.

Luk Fook’s 4Q Same-Store Sales -27%

Luk Fook reported same-store retail sales slumped 27% in the fourth fiscal quarter because of “sluggish” consumer sentiment in Greater China.

Revenue from Hong Kong and Macau dived 28% in the three months that ended March 31. Sales from mainland China fell at a slower pace, sliding 1%, as a 4% increase in gem-set jewelry revenue reduced the speed of decline.


Richemont Veteran Joins Hearts on Fire

Hearts On Fire has appointed Stephane Barraque, a former executive at Richemont and LVMH, to a newly-created role of global chief revenue officer.

Barraque is tasked with developing the diamond brand, owned by Chow Tai Fook, and making it more global. He will also be responsible for managing the brand’s sales team and its retail stores.

Singapore Retailer Joins World Diamond Mark Scheme

Luvenus Jewellery has become Singapore’s first retail jeweler to join the World Diamond Mark’s Authorized Diamond Dealer program.

Displaying the seal in four of the company’s retail shops will enhance consumer confidence and potentially improve sales, according to Parthiban Murugaiyan, managing director of Luvenus.

MINING

De Beers Reduces 1Q Output by 10%

De Beers diamond production slid 10% to 6.9 million carats in the first quarter as the miner reduced output in response to market conditions.

Production from Debswana, a joint venture with the Botswanan government, fell 5% to 5.3 million carats in the three months to March 31.

Consolidated sales by volume dropped 10% to 7.6 million carats, reflecting one fewer sight in the quarter compared with a year ago.


ALROSA’s 1Q Sales Rise, Production Slips 2%

ALROSA’s rough diamond sales jumped an estimated 16% in value terms during the first quarter.

The miner reported it sold “at least” $1.3 billion worth of rough in the three months to March 31, compared with $1.1 billion a year earlier, according to Rapaport News estimates.

The company reduced first-quarter production by 2.3% to 8.2 million carats, in line with its stated strategy to reduce inventory accumulated last year.

Rio Tinto’s 1Q Diamond Output Jumps

Rio Tinto reported first-quarter diamond production jumped 10% to 4.5 million carats because of higher mining rates and availability of a bigger ore stockpile at its Diavik mine.

The miner recovered 1.1 million carats from its 60% owned Diavik mine in Canada’s Northwest Territories, a surge of 26%. Production from the company’s Argyle mine in Western Australia rose 5% to 3.4 million carats.

Dominion Diamond Corporation, Rio Tinto’s partner in Diavik with a 40% interest, said its share in output from the mine soared to 754,000 carats.


Lucara Tender Fetches $51M

Lucara Diamond Corp. sold 10 rough diamonds for $51.3 million at its first exceptional stone tender of the year.

The miner sold seven diamonds for more than $2 million each at the tender April 13. The largest was a 296.7-carat, type-IIa stone that fetched $12.19 million, or $41,008 per carat, while a 245.4-carat diamond went for $10.49 million, or $42,738 per carat.

All diamonds were sourced from the company’s Karowe mine in Botswana.

DiamondCorp Makes $72K From Sale of Two Polished Stones

DiamondCorp said the proceeds from a sale of two polished diamonds, which originated from a 22.1-carat rough stone, show beneficiation creates “significant additional value” for miners.

The company sold the rough – extracted from its Lace mine in South Africa – to its beneficiation joint venture in January. It was manufactured into two “high-quality” diamonds which sold for a combined $261,361.

DiamondCorp's pre-agreed 50% share of the profit from the polished – or $71,979 – lifted its total revenue to $182,529, or $8,256 per carat.

GENERAL

VICENZAORO Dubai 2016 Participation Rises

The second edition of the VICENZAORO Dubai jewelry exhibition attracted 10,142 international operators, buyers and visitors this year, according to organizers.

The exhibition, which ran April 14 to 17, drew visitors from 107 countries and featured collections from more than 400 brands, the organizers said. The first edition in 2015 attracted more than 6,000 regional and international visitors from over 110 countries.


American Gem Society Elects President

The American Gem Society (AGS) elected Scott Berg as its president, succeeding Louis Smith.

Berg (pictured), a certified gemologist at Lee Michaels Fine Jewelry in Baton Rouge, Los Angeles, will hold the position until April 2018.


AGTA among New Members of U.S. Jewelry Council

The U.S. Jewelry Council, which works to ensure the industry is collectively represented at the government and international level, announced the addition of four new members.

The American Gem Trade Association, Diamond Club West Coast, the National Association of Jewelry Appraisers and the Silver Promotion Service have joined the lobby, which now represents 13 associations.



ECONWATCH

Diamond Industry Stock Report

A strong week for mining stocks saw many gain in value, led by Peregrine Diamonds (+15%). U.S. retail was mixed, with Charles & Colvard (-5.5%) recording the biggest decline. Indian retailers appear to be recovering following the end of a six-week strike as several gained this past week, headed by Gitanjali Gems (+9.2%).

View the detailed industry stock report.
Apr. 21 (12:24 GMT) Apr. 14 (10:49 GMT) Chng.
$1 = Euro 0.88 0.89 -0.01
$1 = Rupee 66.28 66.59 -0.3
$1 = Israel Shekel 3.76 3.79 -0.03
$1 = Rand 14.21 14.53 -0.33
$1 = Canadian Dollar 1.26 1.28 -0.02

Precious Metals Chng.
Gold $1,265.75 $1,240.18 $25.57 2.1%
Platinum $1,036.95 $991.00 $45.95 4.6%
Silver $17.63 $16.12 $1.51 9.4%

Stock Indexes Chng.
BSE 25,880.38 25,626.75 253.63 1.0%
Dow Jones 18,096.27 17,908.28 187.99 1.0%
FTSE 6,370.76 6,360.00 10.76 0.2%
Hang Seng 21,622.25 21,337.81 284.44 1.3%
S&P 500 2,102.40 2,082.42 19.98 1.0%
Yahoo! Jewelry 1,128.90 1,124.51 4.39 0.4%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment April 27, 2016


Diamond trading very quiet during Passover holiday. Rising expectations for May Day retail holiday as China’s gold imports increase. U.S. demand steady but jewelers avoiding unnecessary inventory and taking goods on memo. U.S. 2015 retail diamond jewelry demand +5% to $39B, global consumption -2% to $79B, according to De Beers insight report. Rough trading stabilizing as manufacturing profit margins tighten. Petra Diamonds 3Q sales +25% to $121M, production +26% to 995,905 cts. Christie’s NY sells $57M (80% by lot) with 15.99 ct. Burmese ruby sold for $14.2M ($3.6M/ct.). Swiss watch March exports -16% to $1.4B. AWDC highlights reduced Antwerp bank financing in 2015 annual report.


RapNet Data: April 27

Diamonds 1,155,870
Value $7,891,332,625
Carats 1,258,643
Average Discount -28.53%

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

May 11-18 Wed-Wed
Rapaport Single Stone Auction

New York & Israel

View Details
May 17-25 Tue-Wed
Rapaport Melee Auction

New York & Dubai

View Details
June 2-5 Thu-Sun
Las Vegas Antique Jewelry & Watch Show

Las Vegas, NV, USA View Details

June 3-6 Fri-Mon
JCK Las Vegas

Las Vegas, NV, USA Booth: B55051View Details
QUOTE OF THE WEEK
The global diamond industry took a beating this year. Thanks to our strong foundations and ability to be agile and adopt innovative new technologies, Antwerp has succeeded in safeguarding its world-leading position with regard to rough as well as polished diamonds. Antwerp will consequently emerge from this downturn in better shape than our competitors.

Ari Epstein, chief executive officer of the Antwerp World Diamond Centre (AWDC) in the group's 2015 annual report.

MARKETS

United States: New York trading quiet with many dealers on vacation during Passover holiday. Suppliers reducing prices on unwanted excess inventory but holding firm on top-quality RapSpec A2 goods...

Belgium: Seasonally slow period with dealers concerned about weak demand. Dealers focused on filling orders with very little buying for inventory...

Israel: Most dealers away and Israel Diamond Exchange (IDE) services closed during Passover holiday (April 24 to 28)...

India: Trading slow as expected during April-May. Jewelry retailers focused on gold sales ahead of Akshaya Tritiya festival on May 9...

Hong Kong: Polished trading stable. Steady demand for 0.30 to 1 ct., D-J, VS-SI, 3X diamonds. Big stone demand weak...

Click here for deeper analysis

INSIGHTS

Making Luxury More Affordable in China

Diamond dealers still see China as the engine of industry growth but Premier Xi Jinping’s government can do more to encourage its development. As the country transitions to a consumer-driven economy, luxury products such as jewelry are considered expensive in China, forcing shoppers to look abroad for their purchases…

Click here to continue readin

INDUSTRY

U.S. Diamond Jewelry Sales Surges in Weak Global Market

U.S. demand for diamond jewelry grew 5% to $39 billion in 2015 supported by a sustained economic recovery and an improved labor market, according to a De Beers report. Growth in the U.S., however, failed to lift the global industry which contracted 2% because of sluggishness in emerging-market economies and the strength of the U.S. dollar.

Global diamond jewelry demand fell to $79 billion, off its record high of $81 billion in 2014. At constant exchange rates, demand advanced 2%. Chinese diamond jewelry demand, including from purchases abroad, rose 1%, or 3% when measured in terms of yuan. Other major markets including India, Japan, and the Gulf, registered declines in sales.

Tight Margins, Financing Challenge Antwerp Trade

The Antwerp World Diamond Centre (AWDC) said tighter profit margins and lower bank credit squeezed Belgium’s diamond trade in 2015, a difficult year amid an “unsettling global economy”. The average profit margin reported by wholesalers in 2015 was in the 0.1% to 0.4% range, the same as previous year, according to the AWDC’s annual report.

The report also acknowledged funding pressure on diamantaires in relation to rough diamond purchases, after the global banking and sovereign debt crisis dramatically altered lending practices. Industry financing was also impacted by the banking industry’s policy of “de-risking,” or removing access to funds for businesses with a perceived risk of money laundering or terror financing.

Harry Winston Diamonds Shine in $7M Auction

Bonhams garnered $7.2 million (GBP 5 million) at its jewelry auction this month in London, where it noted a strong interest in diamonds as well as pink and blue sapphires.

The top lot was a step-cut, 15.52-carat, D, VVS2 diamond ring by Harry Winston. It sold for $1.6 million (GBP 1.1 million), or $101,500 per carat, exceeding the upper pre-sale estimate of $1.3 million (GBP 900,000).A pair of marquise and pear-shaped diamond earrings, also by Harry Winston, weighing 25.37 carats, fetched $384,000 (GBP 266,500).

De Beers IIDGR Diamond Grading Reports on RapNet

Grading reports from De Beers International Institute of Diamond Grading and Research (IIDGR) laboratories can now be uploaded to RapNet – Rapaport’s Diamond Trading Network.

De Beers noted IIDGR becomes one of only a handful of grading laboratories to have its reports listed on RapNet. IIDGR launched its generic diamond grading program earlier this year, extending its grading activity with the De Beers Forevermark brand.

RETAIL & WHOLESALE

U.S. Jewelry Prices Drop for First Time in Five Months

The U.S. consumer price index (CPI) for jewelry fell 3% in March, halting an uptrend in the four months to February, according to the U.S. Bureau of Labor Statistics.

However, even though the CPI for jewelry rose 9% between November and February, it was in a steady downtrend for most of 2015. Compared to last year, the figure for March was 3% higher than 12 months ago. The March CPI for watches also declined 4% but remained up 5% from a year earlier.

U.S. Consumers Less Optimistic in April

U.S. consumer confidence declined slightly in April as the outlook for the labor market was less favorable, according to The Conference Board’s monthly report. The Conference Board Consumer Confidence Index stood at 94.2 in April, down 2 percent from its March reading of 96.1.

Consumer assessment about current conditions improved but expectations regarding the short-term have moderated, said Lynn Franco, director of economic indicators at The Conference Board. The report suggested fewer consumers anticipate improvement in the job market in the coming months. Consumers were also more pessimistic about business conditions.


Indian Government Forms Panel for Controversial Tax

India’s Ministry of Finance has formed a sub-committee to oversee implementation of the 1% excise duty recently imposed on the jewelry industry. The ministry also deferred the deadline for jewelers to register with the central excise department to July 1, 2016, according to the Gem and Jewellery Export Promotion Council (GJEPC).

Ashok Lahiri, a former chief economic advisor to the government, will chair the five-person panel. Representatives from the trade will be coopted onto the committee in consultation with Lahiri.

Swiss Watch Exports Slump in March

Swiss watch exports fell 16% in March as orders from Hong Kong and the U.S. slumped. The value of wristwatch shipments stood at $1.4 billion (CHF 1.37 billion), the lowest for March since 2011. Volume dived 20%.

The retreat reflects continued pessimism in the Swiss industry, with a 2015 Deloitte report stressing increasing concern of the threat of smartwatches. The impact of a stronger Swiss franc and weaker demand from countries such as China is also problematic, according to Deloitte.

MINING

Petra Diamonds 3Q Sales Rise in Buoyant Rough Market

Petra Diamonds raised its production target for fiscal 2016 as third-quarter sales jumped amid improving conditions in the rough market. Steps taken by major producers to reduce supply, lower prices of rough, and increase marketing and promotions helped lift trading, the diamond miner said.

Petra’s revenue surged 25% to $120.5 million in the three months to March 31 as the volume of sales rose 13% and rough prices climbed 3.5%. Output across its five mines soared 26% to 995,905 carats in the period, prompting Petra to raise its target to 3.6 to 3.65 million carats for the current fiscal year. Its previous guidance was for 3.3 to 3.4 million carats this year.

Rockwell Diamonds Sales Plunge in 4Q

Rockwell Diamonds reported sales slumped 45% to $7.1 million in its fiscal fourth quarter as the company has changed strategy at its South Africa-based operations. Production fell 33% to 4,714 carats.

A strategic review will see the company close its Saxendrift operation in May and recommission its Wouterspan project in the same month. A large proportion of the Saxendrift staff and equipment will be deployed at Wouterspan, the junior diamond miner said. Both projects are located at South Africa’s Middle Orange River.

Three Big Diamonds Found at Angola Lulo Project

Lucapa Diamond Company recovered three more large diamonds during trial mining at its Lulo alluvial project in Angola. Two of the gems are high-color white type IIa diamonds, one weighing 88 carats and the other 30 carats.

They join the ranks of 10 “special” stones weighing more than 10.8 carats and found in the E46 area at Lulo since trial mining began in March. Lucapa reported more than 30% of the diamonds above 1-carat recovered in the E46 project are type IIa, the highest level of purity in a rough diamond.

GENERAL

De Beers to Move From Prestigious Premises in 2017

De Beers is moving from its iconic premises at 17 Charterhouse Street as part of an ongoing consolidation at its parent Anglo American, the company’s spokesperson confirmed to Rapaport News.

Staff will relocate to Anglo American’s Carlton House Terrace office within the next year. Anglo American announced in December it plans to co-locate with De Beers in 2017 and was considering Charterhouse as its new headquarters. Instead it has now been decided De Beers will move to Anglo American’s premises.

Lab-Grown Diamond Association Adds Members

The International Grown Diamond Association (IGDA) has almost doubled its membership base since launching in February after reporting the addition of eight new companies to its ranks.

The new IGDA members include Numined Diamonds, Fair Trade Jewellery Co., The Gold Concept Jewelry and Design, Caraxy, M. Geller, Schubach Enterprises, D.NEA and DM Gems India. They join the IGDA to promote the so-called synthetic diamonds as a “new choice” to consumers.

Diamond Tracker Offers Sales, Inventory Insight

NPD Group, a market-data analysis company, introduced a service providing visibility into sales and inventory data across the global diamond industry. Diamond Tracker is the “first service” to offer insight into detailed point-of-sale information, monthly sales and inventory trends, NPD claimed.

Users are able to drill down into performance trends by specific diamond characteristics for both natural and lab-grown gems. It also tracks factors such as gemological labs, wholesale sources and different forms of purchase such as outright purchase, memo or recycled.

ECONWATCH

Diamond Industry Stock Report

The major mining companies lost ground with Anglo American (-11.9%) leading the slump. Rio Tinto posted a double-digit decline, while Petra Diamonds fell despite its positive trading report. Far East retail was mixed with Chow Sang Sang posting the strongest gains (+3.3%). Among the Indian retailers, Gitanjali continued its volatility with declines (-5.5%) wiping out some of last week’s gains.

View the detailed industry stock report.
Apr. 27 (09:15 GMT) Apr. 21 (12:24 GMT) Chng.
$1 = Euro 0.88 0.88 0.00
$1 = Rupee 66.42 66.28 0.14
$1 = Israel Shekel 3.77 3.76 0.01
$1 = Rand 14.41 14.21 0.20
$1 = Canadian Dollar 1.26 1.26 0.00

Precious Metals Chng.
Gold $1,246.15 $1,265.75 -$19.60 -1.5%
Platinum $1,018.00 $1,036.95 -$18.95 -1.8%
Silver $17.34 $17.63 -$0.29 -1.6%

Stock Indexes Chng.
BSE 26,055.58 25,880.38 175.20 0.7%
Dow Jones 17,990.32 18,096.27 -105.95 -0.6%
FTSE 6,274.94 6,370.76 -95.82 -1.5%
Hang Seng 21,361.60 21,622.25 -260.65 -1.2%
S&P 500 2,091.70 2,102.40 -10.70 -0.5%
Yahoo! Jewelry 1,109.20 1,128.90 -19.70 -1.7%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment May 5, 2016


Polished market slow with April 1 ct. RAPI -0.3%; 0.30 ct. -1.3%. Steady U.S. demand raises expectations for Las Vegas shows. Chinese jewelry sales steady during May Day holiday but Hong Kong hurt by fewer tourists. Hong Kong 1Q polished imports -13% to $4.2B, exports -8% to $3.2B. U.S. March jewelry sales +4% to $4.1B but retail consolidation deepens as JBT reports 323 jewelry businesses closed in 1Q. India March polished exports +4% to $1.8B, rough imports -5% to $1.4B. Lucara 1Q revenue +71% to $51M, profit +185% to $17M. Lesedi la Rona 1,109 ct. rough sale expected to exceed $70M ($63,120/ct.) at Sotheby’s London on June 29. Pawnbrokers Cash America and First Cash to merge.


RapNet Data: May 5

Diamonds 1,176,437
Value $8,016,696,801
Carats 1,270,409
Average Discount -28.55%

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
May 11-18 Wed-Wed
Rapaport Single Stone Auction

New York & Israel

View Details
May 17-25 Tue-Wed

Rapaport Melee Auction

New York & Dubai View Details

June 2-5 Thu-Sun
Las Vegas Antique Jewelry & Watch Show

Las Vegas, NV, USA

Booth: 1500

View Details June 3-6 Fri-Mon
JCK Las Vegas

Las Vegas, NV, USA

Booth: B55051

View Details

QUOTE OF THE WEEK
Every aspect of this auction is unprecedented. Not only is the rough superlative in size and quality, but no rough even remotely of this scale has ever been offered before at public auction.

David Bennett, worldwide chairman of Sotheby’s jewelry division, on the upcoming auction of the 1,109-carat Lesedi La Rona in June

MARKETS

United States: Polished trading quiet. New York wholesalers filling orders but not buying for inventory. Steady demand for 0.50 to 2.50 ct., G-J, VS2-SI2 RapSpec A2 diamonds…

Belgium: Activity muted with trading cut short due to Thursday’s Ascension Day public holiday. Concern demand is weaker than usual for this time of year…

Israel: Polished market quieter than earlier in the year. Dealers focused on U.S. market with rising expectations for upcoming Las Vegas shows…

India: Polished trading slowing. Dealers anticipate quieter market through May school vacation period. Sentiment relatively positive with expectations 2016 will be better than last year…

Hong Kong: Dealer and jewelry wholesale markets quiet following May 1 Labor Day celebration. Retailers note slight improvement in jewelry sales during the holiday but fewer Chinese tourist arrivals...

Click here for deeper analysis

INDUSTRY

Diamond Prices Soften with Weaker Global Demand

Polished diamond trading slowed in April due to sluggish demand at the start of a seasonally quiet period. Sentiment weakened as the positive momentum from the first quarter failed to gain traction. Supplies significantly increased due to high rough sales and polished production in the first quarter.

The RapNet Diamond Index (RAPI™) for 1-carat, GIA-graded diamonds slipped 0.3% in April. RAPI for 0.30-carat diamonds fell 1.3% and RAPI for 0.50-carat diamonds also declined 0.3%. RAPI for 3-carat diamonds dropped 2.2%.

RAPI for 1-carat diamonds rose 1.2% in the first four months of the year, but is still down 4.6% from a year ago.

Fancy Blue Diamond Prices Outpace Yellows, Pinks

Fancy blue diamond prices outperformed their yellow and pink counterparts in the first quarter, according to the Fancy Color Diamond Foundation.

Prices of fancy blue gems rose 1.7% sequentially in the three months compared with a 1.8% drop seen in fancy yellow stones. Fancy pink diamonds nudged up 0.3%. Overall, fancy-color prices were down 0.1% over the previous quarter.

Lesedi La Rona Assigned $70M+ Auction Price Tag

The world’s second-largest gem-quality rough diamond in history is expected to fetch “in excess of” $70 million at a Sotheby’s auction in London.

The 1,109-carat Lesedi La Rona, mined by Lucara Diamond Corp. last November, will go under the hammer at a standalone auction on June 29. The auction will be preceded by a viewing at Sotheby’s New York on May 7 and at Sotheby’s London from June 18 to 28.

The Gemological Institute of America said the rough diamond has “top color and transparency” and a “limpid” appearance commonly associated with type-IIa gems.

Singapore Diamond Investment Exchange Launches

Trading has started on the Singapore Diamond Investment Exchange (SDiX), the world’s “first” commodity exchange for physically-settled diamonds.

The introduction on May 5 “represents the most significant change in global diamond trading practices in hundreds of years,” according to SDiX.

The exchange is backed by investors including the Singapore government’s sovereign wealth fund Temasek Holdings, veteran investor Jim Rogers and Sun Tongyu, one of the founders of Alibaba.


Jewelers Exiting U.S. Trade Soars in 1Q

U.S. jewelry business closures surged 35% in the first quarter, according to data released by the Jewelers Board of Trade (JBT).

Of the 380 companies that left the industry, the maximum number was in the “ceased-operations” category, which is defined as companies closing down business for reasons other than financial difficulty or consolidation. The number of such closures soared 34% to 323, data showed.

Diamond Slump Hits Botswana’s Growth

Standard & Poor’s (S&P) cut its outlook for Botswana to negative on concern a slump in the diamond industry could be structural rather than cyclical.

The country is highly exposed to the performance of the diamond sector as it represents just under a third of Botswana's gross domestic product, about a third of its fiscal receipts and more than two thirds of exports, according to an S&P report.

The decision to revise the outlook from stable comes as data released by the Bank of Botswana showed the nation’s rough diamond exports slumped 17% year on year to $817.6 million in the first quarter of 2016.


Hong Kong’s 1Q Polished Diamond Imports Slump 13%

Hong Kong’s polished imports dived in the first quarter after shipments from its key supplier markets – India, Israel and Belgium – slumped.

Imports of polished stones dropped 13% to $4.23 billion in the three months to March 31 as deliveries from India, Hong Kong’s largest diamond trade partner, retreated 12% to $1.88 billion. Shipments from the municipality’s second largest source, Israel, plummeted 18% to $543 million, while imports from Belgium nosedived 21% to $454.4 million.

India’s Polished Exports +4% in March

India’s polished diamond exports increased 4.3% year on year to $1.83 billion in March, according to provisional data provided by the nation’s Gem & Jewellery Export Promotion Council (GJEPC). By volume, polished exports surged 25% to 3.5 million carats. Polished imports slumped 52% to $260.8 million, leaving net polished exports up 30% to $1.56 billion.

Rough diamond imports fell 5.3% to $1.39 billion and rough exports increased 0.5% to $156.3 million, leaving net rough imports 6% lower at $1.24 billion.

RETAIL & WHOLESALE

Blue Nile’s Revenues Fall on Dip in Engagement Sales

Blue Nile’s sales declined 3.2% in the first quarter as the online retailer suffered from a “challenging environment” and a slump in engagement sales.

Sales fell to $103.1 million, with U.S. sales of engagement jewelry decreasing 7%. However, non-engagement sales increased 4%. Profit fell 9% to $1.1 million.

Separately, Blue Nile said it has stopped shipping to South Dakota in response to a new state law on sales tax that it claims is unconstitutional.

U.S. Jewelry & Watch Sales +4% in March

U.S. jewelry and watch sales from all outlets climbed 4.2% year on year to an estimated $4.65 billion in March, according to provisional data from the U.S. Department of Commerce.

Jewelry sales in March increased 4% to $4.11 billion, according to Rapaport News estimates, marginally below the February growth rate of 4.5%. Watch sales rose 5.3% to an estimated $545 million. Both categories have now enjoyed 11 months of successive growth after five consecutive drops in late 2014 and early 2015.

Cash America, First Cash in Pawnbroker Merger

Cash America International and First Cash Financial Services, two leading U.S. pawnshop businesses, have agreed to merge.

The combined group, to be known as First Cash, will be one of the largest retail pawn stores in Latin America and the U.S., with more than 2,000 locations across four countries, the companies said.

Multi-Million Dollar Diamonds For Sale at Sotheby's Geneva

Sotheby’s unveiled highlights of its upcoming auction in Geneva that will feature more than 10 diamonds and gemstones estimated at $1 million or higher.

Headlining the May 17 Magnificent Jewels & Noble Jewels sale is the ‘Unique Pink,’ expected to fetch up to $38 million (CHF 36.5 million). In addition, a pear-shaped, 7.32-carat, fancy vivid blue, internally flawless diamond ring will go under the hammer for an estimated $15 million to $25 million.Other notable gems on offer include a marquise, 6.64-carat, fancy intense blue, surrounded by other fancy intense blue and D-color white diamonds, expected to sell for $10 million to $14 million.

Kering’s Luxury Sales Climb 3% in 1Q

Kering, the owner of high-end jewelry brands Boucheron and Pomellato, reported luxury sales rose in the first quarter on a stronger retail performance in Western Europe, Japan and emerging markets.

Revenue from the Paris-based group’s luxury brands – which also include Gucci and Yves Saint Laurent – advanced 2.8% year on year to $2.07 billion (EUR 1.8 billion), or an increase of 2.6% assuming comparable structure and exchange rates. Revenue growth from jewelry brands was “positive.”

Charles & Colvard’s Sales Soar

Charles & Colvard, the creator of diamond substitute Moissanite, posted its highest quarterly revenue figure for nearly a decade thanks to a supersized purchase by its biggest customer.

Sales soared 62% to $11.4 million in the three months to March 31 as an undisclosed client bought $6.8 million of “Forever Classic” loose jewels on top of the $6.4 million the purchaser spent in the whole of 2015. The sale also strengthened Charles & Colvard’s balance sheet by reducing its inventory and improving its cash position, the North Carolina-based company said.

MINING

Producers to Address Sustainability at Dubai Congress

Major diamond miners are expected to share views on transparency, responsibility and sustainability in producing countries at this month’s World Diamond Congress.

A panel discussion on the topic is scheduled for May 19 at the 37th congress in Dubai. The congress will run from May 16 to 19.


Lerala Mine in Botswana Back on Stream

Kimberley Diamonds said production restarted at its Lerala Diamond Mine in Botswana after nine months of upgrading and recommissioning.

First diamond sales are expected in June, the miner said. Production will be ramped up to full levels “over the next several weeks.”


Gemfields Sells Emeralds at Record Average Price

Gemfields achieved a record average price for “higher-quality” rough emerald at an auction in Lusaka, Zambia.

The miner sold 470,000 carats for an average of $70.68 per carat at the sale, which ran from March 30 to April 3. Total revenue generated was $33.1 million.

Gemfields’ production of emeralds and beryl at the Kagem mine in Zambia slumped 28% to 7.1 million carats in the first quarter that ended March 31. Output of ruby and corundum from Montepuez surged 43% to 2 million carats.


GENERAL

Argyle's Largest Violet Diamond to Lead Rio Tinto Tender

The largest violet diamond recovered from Rio Tinto’s Argyle mine in Western Australia is to go on sale at a tender this year.

Violet diamonds are especially rare, as the mine has produced only 12 carats of polished violet diamonds for the tender in 32 years, Rio Tinto said.

The oval-shaped, 2.83-carat polished diamond, known as the ‘Argyle Violet,’ will lead Rio Tinto’s 2016 Argyle Pink Diamonds Tender. The sale will start with private trade viewings in June and travel to Copenhagen, Hong Kong and New York.

Ex-Vogue Creative Director to Lead Tiffany Ad Campaign

Tiffany & Co. unveiled a collaboration with the former model and creative director of American Vogue magazine, Grace Coddington.

The company, which announced its move through a cartoon animation on its social media pages, appointed Coddington as its creative partner and “style visionary.”

Coddigton will direct her first brand advertising campaign, Tiffany’s “Legendary Style” fall campaign, which will feature several “iconic” collection

ECONWATCH

Diamond Industry Stock Report

There were sweeping losses across the industry this past week. Rockwell Diamonds (-17%) led the decline among miners, with most other stocks falling by smaller margins. U.S. retail stocks mainly fell as market uncertainty continues. Almost every Indian industry stock price fell, headed by Classic Diamond (-11%), with European retailers suffering small losses and Hong Kong-based Chow Sang Sang (+2.9%) proving the only Far East stock to have made a significant gain.

View the detailed industry stock report.
May 5 (12:40 GMT) Apr. 27 (09:15 GMT) Chng.
$1 = Euro 0.87 0.88 -0.01
$1 = Rupee 66.56 66.42 0.14
$1 = Israel Shekel 3.78 3.77 0.01
$1 = Rand 14.97 14.41 0.56
$1 = Canadian Dollar 1.28 1.26 0.02

Precious Metals Chng.
Gold $1,277.28 $1,246.15 $31.13 2.5%
Platinum $1,054.25 $1,018.00 $36.25 3.6%
Silver $17.38 $17.34 $0.04 0.2%

Stock Indexes Chng.
BSE 25,262.21 26,055.58 -793.37 -3.0%
Dow Jones 17,651.26 17,990.32 -339.06 -1.9%
FTSE 6,111.90 6,274.94 -163.04 -2.6%
Hang Seng 20,449.82 21,361.60 -911.78 -4.3%
S&P 500 2,051.12 2,091.70 -40.58 -1.9%
Yahoo! Jewelry 1,062.09 1,109.20 -47.11 -4.2%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment May 12, 2016


Market sentiment improving despite lackluster May trading. Polished inventory rising as new production comes on stream. Rough trading slow with reduced supply reported at ALROSA sale, while sightholders anticipate stable prices at next week’s De Beers sight. Lucara sells 813 ct. rough diamond for $63M ($77,649/ct.). Sarine 1Q revenue +27% to $16M, profit triples to $3M. Titan Company FY sales -5% to $1.7B, profit -16% to $104M. Blue Nile 1Q sales -3% to $103M, profit -9% to $1M. U.S. March polished imports -5% to $2B, polished exports -15% to $1.5B. Belgium April polished exports -14% to $899M, rough imports +34% to $1.2B.


RapNet Data: May 11

Diamonds 1,179,664
Value $8,093,700,251
Carats 1,283,305
Average Discount -28.57%

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


May 11-23 Wed-Mon
Rapaport Single Stone Auction

New York & Israel

View Details May 17-25 Tue-Wed
Rapaport Melee Auction

New York & Dubai

View Details
June 2-5 Thu-Sun
Las Vegas Antique Jewelry & Watch Show

Las Vegas, NV, USA

Booth: 1500

View Details
June 3-6 Fri-Mon
JCK Las Vegas

Las Vegas, NV, USA

Booth: B55051

View Details

QUOTE OF THE WEEK
The strength of the company’s brands was tested in an environment of subdued sales across all retail formats. Weak consumer sentiment had an impact on retail sales across all businesses.

S. Ravi Kant, executive vice-president for corporate communications at Titan Company, on the India-based jeweler’s decline in annual revenue and profit

MARKETS

United States: The market remains quiet. Cautious expectations for 2H due to restrained consumer spending and uncertainty caused by the upcoming election…

Belgium: Polished trading stable with dealers concerned about lagging consumer demand. Polished supply rising but demand is selective…

Israel: Polished trading steady but activity declines as bourse closes for Memorial Day and Independence Day.Sentiment improving as dealers prepare for Las Vegas shows…

India: Market slow with some dealers taking vacation during ongoing school holiday. Dealers focused on filling U.S. orders with rising expectations for Las Vegas shows…

Hong Kong: Weak consumer sentiment impacting jewelry sales. Jewelry retailers relying on steady sales in Mainland China to compensate for sluggish Hong Kong market...

Click here for deeper analysis

INSIGHTS

Lucara’s Diamond Sale of a Lifetime

In a somewhat understated announcement this week, Lucara Diamond Corporation unveiled the most expensive rough diamond ever sold. Under normal circumstances, Lucara would be making a bigger brouhaha about the sale. But the company, along with the diamond and investment communities, knows this was a mere curtain raiser...

Click here to continue reading

INDUSTRY

Rapaport Group Appoints John Costello Publisher

The Rapaport Group has appointed John Costello as Publisher, heading the company’s Information Services Division. His responsibilities include the management and development of all content creation and distribution through Rapaport’s print and digital channels. He will also drive and manage product development, and spearhead the company’s digital strategy.

Prior to joining Rapaport, Costello ran his own content consulting business, where he worked with trade magazines, national newspapers and blue chip companies. Based in Rapaport’s office in Ramat Gan, Israel, he will also oversee the company’s New York publishing division, which publishes the Rapaport Magazine.

Manufacturing Revival Lifts Sarine Sales

Sarine Technologies' revenue jumped 27% to $15.5 million in the first quarter driven by a recovery in the diamond manufacturing sector. Profit more than tripled to $3 million as the sales increase outpaced modestly higher expenses incurred by the supplier of equipment used in diamond manufacturing.

Increased manufacturing activity and renewed investment in equipment drove sales after manufacturers drastically reduced polished production in 2015. Sarine’s revenue slumped 45% and profit plunged 87% last year.

Swiss Jeweler Buys Rights to 404ct. Diamond

De Grisogono, a Swiss jeweler, acquired the rights to market a 404-carat rough diamond from Dubai-based trader Nemesis International, Bloomberg reported.

The stone was discovered at Lucapa Diamond Company’s Lulo mine in Angola, Nickolas Polak, a director of Nemesis said in the report. Lucapa sold a 404-carat diamond for $16 million (AUD 22.5 million) in February with Nemesis thought to be the buyer. Polak declined to disclose details of the sale to De Grisogono.


Belgium’s April Rough Trading Climbs

The Antwerp World Diamond Centre (AWDC) said a surge in rough trading in Belgium in April warranted cautious optimism about the health of the diamond market.

Imports of rough diamonds soared 34% to $1.22 billion, while rough exports surged 30% to $1.27 billion.

Results over the past few months “are certainly cause for optimism,” according to AWDC spokesperson Margaux Donckier, but the Belgian industry is “not jumping to the conclusion that a full-blown diamond-industry recovery is underway.”

KP, OECD to Co-Host Rough Valuation Forum

De Beers and ALROSA will take part in a forum this month aimed at reaching a consensus on universal rough diamond valuation and pricing.

The May 23 event, hosted by the Kimberley Process (KP) and the Organisation for Economic Co-operation and Development (OECD), will engage companies, governments and non-profits in the discussion. The organizers expect to improve the understanding of rough valuation, the office of the KP chair said.

U.S. Polished Imports -5% in March

U.S. polished diamond imports declined 5.3% year on year in March as a drop in average price per carat outweighed flat volume. Shipments into the U.S. fell to $2.04 billion as the average price decreased 5.3% to $1,895 per carat. Polished diamond exports slumped 15% to $1.48 billion, driving net imports up 33% to $559 million.

In the first three months of the year, polished imports fell 3% to $5.56 billion and polished exports fell 4% to $4.7 billion.

RETAIL & WHOLESALE

Titan Sales Hit by Indian Jewelers’ Strike

Titan Company blamed weak consumer sentiment and an Indian jewelers’ strike for a drop in annual sales and profit. Revenue fell 5.3% to $1.69 billion (INR 112.8 billion) in the fiscal year that ended March 31, while net profit slumped 16% to $103.5 million.

Titan also said it will pursue the acquisition of a majority stake in Carat Lane Trading, a startup online jewelry retailer. A deal is still in negotiations.

Pandora Raises Expectations after Strong 1Q

Pandora increased its revenue guidance for the year as sales surged in the first quarter due to strength in Europe and Asia Pacific. Revenue jumped 34% to $724.7 million (DKK 4.74 billion) and profit more than tripled to $199.7 million in the three months to March 31.

Pandora raised its revenue forecast for 2016 to more than $3.06 billion, which would be an advance of at least 19% from last year. Its previous guidance was for sales to exceed $2.9 billion.

Frederick Goldman Ties Up with Karl Lagerfeld

Karl Lagerfeld has struck a deal with jewelry manufacturer Frederick Goldman to bring the German fashion house’s jewelry to the U.S. and other major markets.

Under the licensing agreement, Frederick Goldman will produce and distribute Karl Lagerfeld-branded engagement and wedding band collections in the U.S., Canada, Australia and the U.K. The first collection will launch in the fall of 2016, featuring precious metals and diamonds.


Sotheby’s Swings to 1Q Loss

Sotheby’s revenue in the first quarter slumped from a high base last year. Total sales nosedived 32% to $106.5 million and the company swung to a $25.9 million loss from a profit of $5.2 million a year earlier.

Record art sales in January through March 2015 led to an “atypically profitable” comparable quarter, Sotheby’s said. The company didn’t disclose separate jewelry sales.

MINING

Lucara Sells 813ct. Stone for Record Price

Lucara Diamond Corp. broke a world record for the sale of a rough diamond as an 812.77-carat stone from its Karowe mine in Botswana fetched $63.1 million.

Dubai-based Nemesis International paid $77,649 per carat for the rights to 90% of the diamond, named ‘The Constellation.’ Lucara will retain a 10% interest in the net profit received from the sale of the resultant polished diamonds. Lucara discovered the diamond in November alongside a 1,109-carat gem later labelled the Lesedi La Rona.


Lesedi La Rona Weighed 1,500cts. Before Breakage

Lucara Diamond Corp.’s 1,109-carat diamond originally weighed about 1,500 carats before it broke into two pieces. A 374-carat stone that Lucara recovered a day after it found the Lesedi La Rona was actually a part of the latter, William Lamb, Lucara’s chief executive officer, told investors.

“So we were looking at something which is most probably closer to 1,500 carats,” Lamb said, adding that it was impossible to tell how it broke.

GENERAL

Israel Bourse Unveils Expansion Plans

The Israel Diamond Exchange (IDE) is seeking building rights to expand the bourse complex by creating an additional office tower or adding floors to existing buildings.

IDE management signed an agreement with Yashar Architects who will plan the new site in the coming years, according to a post on the bourse’s website.


Fiera di Vicenza, Rimini Fiera in Merger Talks

Fiera di Vicenza, which manages and oversees the VicenzaOro jewelry shows, is in merger talks with specialist trade-fair organizer Rimini Fiera.

The aim of the deal is to set up a national trade-show organizer in Italy, which will subsequently be listed on the stock market, the companies said.

ECONWATCH

Diamond Industry Stock Report

Lucara Diamond (+14%) led mining stocks on news of a record sale of a rough diamond and growing buzz around next month's auction of its Lesedi La Rona. In the U.S., Sotheby's (+6%) headed the increases but most retailers were stable or declined, the heaviest drop being JCPenney (-10%). Indian stocks were mixed, while Singapore-listed Sarine (+3.9%) rose on improved 1Q results.

View the detailed industry stock report.
May 11 (8:35 GMT) May 5 (12:40 GMT) Chng.
$1 = Euro 0.88 0.87 0.00
$1 = Rupee 66.69 66.56 0.13
$1 = Israel Shekel 3.77 3.78 -0.01
$1 = Rand 15.28 14.97 0.31
$1 = Canadian Dollar 1.29 1.28 0.01

Precious Metals Chng.
Gold $1,272.46 $1,277.28 -$4.82 -0.4%
Platinum $1,061.83 $1,054.25 $7.58 0.7%
Silver $17.30 $17.38 -$0.08 -0.5%

Stock Indexes Chng.
BSE 25,616.18 25,262.21 353.97 1.4%
Dow Jones 17,928.35 17,651.26 277.09 1.6%
FTSE 6,138.56 6,111.90 26.66 0.4%
Hang Seng 20,055.29 20,449.82 -394.53 -1.9%
S&P 500 2,084.39 2,051.12 33.27 1.6%
Yahoo! Jewelry 1,087.12 1,062.09 25.03 2.4%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
http://zpravy.idnes.cz/vydrazeni-diamantu-pink-star-djn-/zahranicni.aspx?c=A131113_214620_zahranicni_ert
Registrovaný uživatel
OK príspevok ,ale je z roku 2013 už bol uvedený v téme najdrahšie predané diamanty.

Apropo predaj skončil škandálom ,lebo sa stratil ;)
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Grofik toho jsem si nevšimnul. Já ve zprávách slyšel o růžovém diamantu. tak jsem to popletl. Asi se mluvilo o tomto diamantu. https://www.blesk.cz/clanek/zpravy-svet/394737/unikatni-ruzovy-diamant-se-vydrazil-za-750-milionu-je-vsazeny-do-prstenu.html
« Poslední úpravu provedl(a) braun viktor v 18. 5. 2016, 20:59. »

Nové téma Další příspěvek

Stránka: « < ... 13 14 15 16 17 18 19 20 21 ... > »

Sběratel.com » Minerály » Týždenný prehľad zaujímavostí vo svete diamantov .

Diskusní fórum | Sberatel.com | články | inzerce | katalog | mince | sběratelé | zápalky |

TOPlist
Sběratel.com je poháněno systémem UseBB 1