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Rapaport Weekly Market Comment
Low expectations for Sep. Hong Kong show due to slowdownin Chinese demand and escalation of political protests. Trade war affectingconfidence. US jewelers likely to raise local manufacturing as 10% tariff ondiamond and jewelry imports from...
Polished Markets Aug 15, 2019 Rapaport News
India Arch
India: Cutters Shifting to Lower-Cost Goods
IIJS show sees slowdiamond trading, but steady gold inquiries ahead of festival and weddingseason. Jewelers waiting for gold-price stability before making orders.Polished production reduced by estimated 30%, with cutters shifting tolower-cost goods...
Research Aug 15, 2019 Rapaport News
Rapaport TradeWire August 15, 2019
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Research Aug 15, 2019 Rapaport
Stornoway
Stornoway Fears for Its Future
Stornoway Diamond Corporation has given a stern warningabout its ability to remain in business, after failing to find a buyer for the company. The miner had until July 15 to find an investor for its Renard operation as part...
Mining Aug 15, 2019 Rapaport News
Pandora
Pandora Launches Harry Potter Collection
Pandora and Warner Bros. will partner on a HarryPotter-inspired collection, featuring iconic characters and symbols from thefilms. The line will comprise 12 hand-finished products, includingcharms, pendants and a bracelet, designed by Francesco Terzo and FilippoFicarelli,...
Retail Aug 15, 2019 Rapaport News
Hong Kong airport protest
Trade Seeks Discount for Hong Kong Show
The Hong Kong Jewelry Manufacturers’ Association (HKJMA)is asking the organizers of the September show for a 25% discount for itsmembers, citing difficult market conditions due to the trade war and socialunrest in the city....
Polished Markets Aug 15, 2019 Joshua Freedman
Pandora
Pandora to Buy Back $75M of Inventory
Pandora is set to repurchase DKK 500 million ($74.7 million)of unsold jewelry from retailers that stock its products, the company said. The Danish jeweler believes this will reduce the quantity of goods its...
Retail Aug 14, 2019 Rapaport News
Mountain Province
Mountain Province Faces Nasdaq Delisting
Mountain Province has been given six months toraise its share price or it will no longer be eligible to list on the Nasdaqstock exchange, it said Tuesday. The Canada-based miner’s stock is currently valued at$0.97, below the minimum...
Mining Aug 14, 2019 Rapaport News
Tariffs
Tariffs on Chinese Jewelry to Begin September 1
Jewelry imported into the US from China will attract an extra levyof 10%, despite the Trump administration’s decision to postpone tariffs onother goods. While certain health-and-safety products are being removedfrom the prospective tariff...
Retail Aug 14, 2019 Rapaport News
Alexis Vouroulis thumbnail
Phillips Makes Latest Hire from Bonhams
Phillips has hired Alexis Vourvoulis to help build up itsjewelry business in Los Angeles, a key target market for the company. “The move reflects the growth of the Phillips jewelrydepartment and the increasing importance of California...
Polished Markets Aug 14, 2019 Rapaport News
Alrosa purple diamond
Alrosa Offers 15ct. Purple-Pink Diamond
Alrosa is preparing to sell a rare, 14.83-carat pink laterthis year, as the Russian miner continues its efforts to build up itscolored-diamond business. The Gemological Institute of America (GIA) graded theoval-shaped diamond as fancy vivid purple pink, with...
Polished Markets Aug 13, 2019 Rapaport News
Hong Kong
Hong Kong Polished Imports Slide
Polished-diamond imports to Hong Kong declined 6% in thefirst half, according to data from the Diamond Federation of Hong Kong,China. Lower volumes outweighed growth in the average price, the figuresshowed.Hong Kong Trade Data for 1H 2019 $ Millions...
Mining Aug 13, 2019 Rapaport News
IIJS
Trade War Sparks Opportunity for Indian Jewelers
India’s diamond and jewelry trade is hoping to take market share from Chinese suppliers after the US government announced a hike on import duties from China. There’s a changing world order and India is well placed to capitalize...
Retail Aug 13, 2019 Avi Krawitz
HK protest
Hong Kong Riots Cast Cloud over Show
Diamond traders have raised concerns ahead of next month’s Hong Kong Jewellery & Gem Fair, as mass protests have caused chaos and dented local demand. The show will still take place as planned,...
Polished Markets Aug 13, 2019 Joshua Freedman
Angola Sales
Angola Sees Rise in Diamond Revenue
Revenue from Angola’s national diamond-trading company,Sodiam, rose 3.9% year on year in the second quarter, with the government separately noting an increase in prices. Prices of Angola’s diamonds have increased since the implementation of the country’s...
Mining Aug 12, 2019 Rapaport News
India Data
India Polished Trade Slips to Seven-Month Low
India’s polished-diamond exports slid 18% year on year inJuly, reaching their lowest level since December 2018. The decline reflected aslowdown in the midstream sector as manufacturers struggled to offload excess goods. Rough trading alsodropped...
Polished Markets Aug 12, 2019 Rapaport News
Sarine
Sarine Sales Dip Amid ‘Challenging’ Market
Sarine Technologies saw a sharp decline in revenue duringthe second quarter, as an oversupply in the midstream led to lower sales of manufacturing equipment. Sales fell 35% year on year to $11.6 million for the threemonths ending June 30,...
Polished Markets Aug 12, 2019 Rapaport News
Imports
How Trump’s Tariffs Could Affect the Trade
Long before the threat of tariffs on Chinese goods loomed large,brick-and-mortar retailers in the US were facing challenges. So far this year,US retailers have announced plans to shut down over 7,000 stores after almost6,000 closed in 2018,...
Financial-Legal Aug 11, 2019 Lara Ewen
KGK, Botswana
Who’s Buying the Rough in 2019?
The stability of the diamond industry is largely in thehands of 122 manufacturers and dealers that buy rough on a contractual basis. Many of the sector’s current problems have resulted from too much rough entering the market...
Rough Markets Aug 11, 2019 Joshua Freedman
Kingold
Weak Demand Dents Sales at China’s Kingold
Sales and profit at Kingold Jewelry decreased in the secondquarter as the China-based gold supplier noted a decline in demand for itsbranded jewelry. Total revenue dropped 12% year on year to $598 million inthe three months ending...
Mining Aug 11, 2019 Rapaport News
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