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Rapaport TradeWire September 19, 2019

Hong Kong show brings fewer visitors, but better-than-expected trading.
Sep 19, 2019 3:57 PM   By Rapaport
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Rapaport TradeWire
September 19, 2019
RAPAPORT MARKET COMMENT
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Hong Kong show brings fewer visitors, but better-than-expected trading. Serious buyers attending. Fair reflects specific Chinese interest and shift to lower-color diamonds. Pockets of good demand, with shortages of nice (eye-clean) RapSpec A3+ SIs due to reduced manufacturing. Some small-scale Indian cutters closing early for Diwali. De Beers maintaining flexibility for next week’s sight, allowing 20% buybacks or 50% rejections. Petra Diamonds FY revenue -6% to $464M, loss of $258M vs. $203M loss in previous year. Focus shifting back to US ahead of 4Q season, with call for major marketing campaign to raise consumer demand. US specialist jewelers’ 1H sales -5% to $14.4B. 

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RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct 0.15% -0.07% -21.01%
0.50 ct -0.47% -0.62% -10.52%
1.00 ct -0.04% -0.39% -6.68%
3.00 ct -0.48% -2.22% -18.87%
RAPI Yearly Graph
Bonhams 18 Sept 2019 Tw Banner
Market Reports
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United States: Retailers have yet to make significant orders for the holiday season and are concentrating on memo goods for now...
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Belgium: Rough market slightly more optimistic ahead of next week’s De Beers sight than it was a month ago...
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Israel: Shortages developing and prices firming for 0.50 to 1 ct., F-I, VS2-SI2 (3X, nonfluorescent) diamonds...
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India: Polished production still at reduced levels, with some small-scale manufacturers closing early for Diwali...
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Hong Kong: Visitor traffic at the show down from previous years due to demonstrations in the city...
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Trade Wire 600X160 April 2018
UPS AND DOWNS
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Alex and Ani Agree on New Debt Structure with Bank
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Provenance Is a Strong Selling Point for Alrosa’s Diamonds
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India Downturn Cuts Antwerp Trade More Than 30%
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Probe Finds Flaws in RealReal’s Authentication Practices
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15 Aug 2019 Gia Id 100 Machine Tw Banner
WEEKLY NEWS
industry
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News Thumbnail
Sentiment Cautious as Hong Kong Show Starts
Exhibitors expect low buyer attendance due to social unrest.
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Hong Kong Fair Prioritizes Buyer Incentives
Organizers rejected exhibitors' request for a discount, instead funding perks to entice visitors to the show.
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Alrosa Expects Kristall Merger in September
Annexation of manufacturer will enable miner to increase polished sales in US and China.
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CIBJO Urges Trade to Woo Gen Z-ers
World Jewellery Confederation provides tips for appealing to young customers.
retail
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US Jewelry-Store Sales Fall in First Half
Purchases down 5% year on year.
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American Demand Drives Swiss Watch Exports
Country was the top market for timepieces in August.
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US Retail Revenue Robust Ahead of Tariff Hike
Store owners trying to minimize the impact of trade war on consumers, says NRF.
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Borsheims Creates Customer-Focused VP Role
Adrienne Fay promoted to vice president to unite the online and in-store shopping experiences.
mining
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De Beers Finds Buyer for Namibia Mine
Company sells Elizabeth Bay deposit to Lewcor Group.
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Karowe Yields Two Massive Stones
Lucara recovers a 123-carat, type II rough and a 375-carat, gem-quality diamond.
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Gem Diamonds Unearths 127ct. Rough
Stone is seventh over 100 carats this year.
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Petra’s Loss Widens in Weak Market
Company’s four deposits devalued.
general
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Podcast: Young Diamantaires Explore South Africa
Rami Baron discusses recent trip to Venetia mine and goals of the group he established.
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Sarine, NGTC Partner on Grading Standards
Collaboration also aims to improve digital diamond solutions for the Chinese trade.
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GIA Names New Mineral Johnkoivulaite
Sample discovered in Myanmar and named for renowned microscopist and researcher.
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Bonhams Auctions Historic Emerald
Mughal Emperor Akbar II gifted stone to literary muse Lady Hood Mackenzie.
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Ed Bridge to Receive Lifetime Achievement Honor
Jewelers of America will present him with GEM Award.
Trade Wire 19 Sept Jewelry Auction
FINANCE
Diamond Industry Stock Report
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Global retail stocks recorded major declines amid shareholder fears that rising gas and oil prices would eat into consumer spending. J.C. Penney (-33%), Macy’s (-9%), Signet (-5%), Chow Sang Sang (-4.4%), Richemont (-7%) and Swatch (-7%) all fell. Miners enjoyed better results: Lucara (+9%) stock rose following the recovery of two diamonds over 100 carats, while Petra (+9%) saw a rebound after disappointing results led to a sharp drop. Shares in Mountain Province (+13%) also increased.

Rapnet Trade Wire
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11 Jul 2018 Rap Ac Digital 300X300Px Static
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