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Rapaport TradeWire July 18, 2019

Diamond market weak due to summer slowdown and sluggish dealer demand.
Jul 18, 2019 11:26 AM   By Rapaport
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8 July 2018 Igi Tw Top Banner
Rapaport TradeWire
July 18, 2019
RAPAPORT MARKET COMMENT
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Diamond market weak due to summer slowdown and sluggish dealer demand. Manufacturers frustrated by tight profit margins and hoping for rough price reduction at De Beers July sight. Cutters maintaining low polished production due to profit and liquidity squeeze. ABN Amro restricts rough-sector lending out of concern for lack of profitability. Chow Tai Fook FY1Q same-store sales +11% in China, -11% in Hong Kong as political protests and strong dollar impact tourist luxury spending. De Beers 1H production -11% to 15.6M cts., sales volume -12% to 16.5M cts., average price -7% to $151/ct. Belgium June polished exports -20% to $836M, rough imports -21% to $681M. 

Trade Wire 600X160 April 2018
RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct -0.63% -3.71% -21.80%
0.50 ct -0.85% -2.83% -9.17%
1.00 ct -0.72% -1.56% -6.08%
3.00 ct -0.31% -3.36% -17.24%
RAPI Yearly Graph
Gia Tw Banner E 31 May 2018
Market Reports
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United States: Suppliers considering lower offers to maintain cash flow and inventory turnover...
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Belgium: Weak sentiment stemming from declines in other centers...
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Israel: Focus on rough ahead of next week’s sight, as July is traditionally a strong month for De Beers and Alrosa sales...
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India: Fewer transactions than this time last year, despite strong foreign-dealer presence in Mumbai...
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Hong Kong: Wholesale and retail markets very slow due to ongoing political protests...
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Rn Jewerly Phase 3 Banner 052219 600 X160Px Tw Static
UPS AND DOWNS
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Tiffany Signs Deal to Bring Its Jewelry to India
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Online Diamond Marketplace Gets Six-Figure Investment
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NWT Faces Slump as Diamond Deposits Near End of Life
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HK Retailers Believe Protests Will Cause Huge Sales Drop
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Tradewire Banner August 2019 Melee
WEEKLY NEWS
industry
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News Thumbnail
ABN Amro Restricts Rough-Sector Lending
Bank cites lack of profitability in manufacturing and trading sectors.
News Thumbnail
Alrosa Falls Victim to Changing Retail Practices
Dealers are buying less rough, as their jeweler clients want smaller inventories, miner says.
News Thumbnail
GIA Cuts Prices 10% Amid Market Slowdown
Institute notes decline in diamond submissions.
News Thumbnail
India Differentiates Synthetics Imports
New classification code will help industry track lab-grown shipments.
News Thumbnail
Belgium’s Rough Trade Hits Decade Low
Exports decline in first half.
retail
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News Thumbnail
Judge Calls Out Signet over Suit Dispute
Investor claim will proceed as a class action.
News Thumbnail
China Lifts Richemont Jewelry Revenue
Company notes 10% growth at Cartier and Van Cleef & Arpels.
News Thumbnail
Chow Tai Fook China Sales Rise
First-quarter retail revenue up 24%.
mining
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News Thumbnail
Diamond Glut Prompts De Beers to Slash Production
Sales volume drops in second quarter amid weak midstream demand.
News Thumbnail
Rio Tinto Output Falls in 1H
Diamond recoveries slump 10%.
News Thumbnail
Alrosa Partners with Zimbabwe Mining Company
Russian firm will work with ZCDC on new exploration projects in the African country.
News Thumbnail
Gem Diamonds Unearths 140ct. Rough
Stone is the second white one over 100 carats this year.
general
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News Thumbnail
Israel, Shanghai Bourses Strengthen Cooperation
Sixteen Israeli companies participate in inaugural buyer meet in the Chinese city.
News Thumbnail
Rio Tinto Unveils Roster of Pink Diamonds
Argyle tender comes ahead of mine’s closure in 2020.
News Thumbnail
WJA Awards over $65K to 49 Recipients
Funds go toward winners’ education and advancing their professional careers.
600X160 Mag
FINANCE
Diamond Industry Stock Report
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US retail stocks increased amid a strong outlook for the economy and solid consumer sentiment. Signet (+2.3%), Macy’s (+1.6%) and Walmart (+1.4%) all gained. Swatch Group (+12%) rallied after giving a confident forecast for the second half of the year. Mining companies had a positive week, with shares in Lucapa Diamond (+13%) up following a jump in quarterly revenue. Stornoway Diamond (+25%) and Firestone Diamonds (+3.8%) also rose.

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