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Rapaport TradeWire August 8, 2019

Diamond trade slow due to seasonal lull and market uncertainty.
Aug 8, 2019 9:48 AM   By Rapaport
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8 July 2018 Igi Tw Top Banner
Rapaport TradeWire
August 8, 2019
RAPAPORT MARKET COMMENT
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Diamond trade slow due to seasonal lull and market uncertainty. US jewelry sales compensating for weakness elsewhere, but retailers holding less inventory. New US tariffs on China imports to impact jewelers more than diamantaires. Trade war affecting confidence as stock-market wealth declines, with Dow -3% (August 1 to 7). Political protests creating concern for important Hong Kong show. Yuan’s devaluation to CNY 7/$1 and rupee’s slide to over INR 70/$1 raise costs of local China and India diamond buying. Tiffany expands into India, with Delhi store to open in 2H. Titan Company 1Q sales +16% to $737M, profit +11% to $51M. Jewelers of America elects Holly Wesche as new chair.

Trade Wire 600X160 April 2018
RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct -0.38% -2.36% -22.40%
0.50 ct -0.62% -2.50% -10.31%
1.00 ct -0.31% -1.32% -6.49%
3.00 ct -0.28% -1.04% -16.77%
RAPI Yearly Graph
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Market Reports
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United States: Jewelry sales mixed, with focus on bridal and selling to self-purchasing women...
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Belgium: Market very quiet, with bourses officially closed and most dealers on vacation until August 19...
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Israel: Dealers reducing inventory and credit lines amid trade war and diamond-market liquidity concerns...
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India: Little buzz for IIJS Mumbai show amid reduced emphasis on diamond trading, as well as caution in jewelry sector due to high gold price...
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Hong Kong: Some concern that political instability will affect attendance at important September show...
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Tradewire Banner August 2019 Single Stone 080819
Let’s Set Our Sights on the Auctions
WITH Avi Krawitz

The trade must embrace rough-purchasing models in which demand determines the prices, as the current contract system has repeatedly proven unprofitable.

UPS AND DOWNS
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Rio Tinto Seeks Partnerships with Junior Explorers
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Saks Opens Dedicated Space for High-End Jewelry
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Sierra Leone Community Suing Miner for Damages to Town
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Media Has Skewed Public’s View of Diamond Mining
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WEEKLY NEWS
industry
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Diamond Trading Quiet Amid Tight Profits
Polished prices soften in July.
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DPA Grades Scanners for Synthetic Melee
Assure program tests 12 detectors with sample of small stones.
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HSBC to Pay $330M in Antwerp Fraud Settlement
Swiss private bank was accused of helping members of the diamond trade evade tax.
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Pinks Show Strongest Price Growth
Blue- and yellow-diamond markets slowed in the second quarter, says Fancy Color Research Foundation.
retail
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Tiffany to Launch in India This Year
Jeweler will work with Reliance Brands to open locations in Delhi and Mumbai.
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Millie Bobby Brown to Represent Pandora
Two-time Emmy-nominated actress is also a UNICEF Goodwill Ambassador.
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Trade Fears Weigh on Hong Kong Retail
Purchases of jewelry and watches fall 17% in June.
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Bridal Sales Bolster Titan Growth
Revenue increase still missed expectations due to weak consumer demand.
mining
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Grib Mine Produces Three Massive Stones
Recoveries include a 222.09-carat diamond.
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Currency Gains Boost Mountain Province Profit
Stronger Canadian dollar helps miner reduce debts.
News Thumbnail
Lucapa Recovers 64ct. Rough at Mothae
Stone is Lesotho mine’s highest-quality diamond to date.
News Thumbnail
Tango Exits Coal to Focus on Diamonds
Miner will also change its name to Southstone Minerals.
general
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Tiffany Tells Its Story in China Exhibition
“Vision & Virtuosity” will open in Shanghai in September.
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Jewelers of America Elects New Chair
Holly Wesche succeeds John Henne.
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AGTA Announces Spectrum Award Winners
This 119.65-carat aquamarine nabbed the Innovative Faceting prize.
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Stuller Names Head of Bridal
Alix Gonsoulin was previously director of diamond-and-gemstone fashion.
600X160 Auction
FINANCE
Diamond Industry Stock Report
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Stocks plummeted this week amid an escalation of the US-China trade war and the devaluation of the Chinese yuan. Global retail shares fell, with J.C. Penney (-20%), Signet (-15%), Chow Tai Fook (-9%), Luk Fook (-10%) and Richemont (-6%) all losing ground. Among the miners, Firestone Diamonds (-20%), Rio Tinto (-10%) and Petra Diamonds (-9%) all slid. Mountain Province (+7%) weathered the storm during a week in which it reported strong quarterly profits.

Rapnet Trade Wire
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