Rapaport Weekly Market Comment

Author: unknown - Published 28-06-2018 14:59 - ( Reads)
Positive sentiment despite sluggish Hong Kong show. Stable US and Chinese demand supporting the market. Suppliers holding polished prices firm as high rough prices squeeze manufacturers’ profit margins. Larger-than-expected $575M June De Beers sight signals robust rough market, with boxes selling at estimated average 3% to 6% premiums. Good polished demand for 1 ct., G-J, VS-SI, RapSpec A2+ diamonds. Buyers shifting to VG as 3X premiums increase. Luk Fook FY revenue +14% to $1.9B, profit +33% to $175M. Israel and Shanghai bourses sign MoU to manufacture large stones in new Ramat Gan factory.

De Beers Starts Work on Lab-Grown Diamond Factory

Author: Rob Bates - Published 28-06-2018 14:55 - ( Reads)
De Beers, which sent shockwaves through the trade before JCK Las Vegas when it announced that it would sell lab-grown diamonds, held a ceremony this week in Gresham, Ore., to kick off construction of its first synthetic diamond gem factory.

Rapaport Academy Releases Two Additional Online Courses to Boost Retail Diamond Sales

Author: unknown - Published 27-06-2018 07:59 - ( Reads)
Rapaport Academy, the Rapaport Group’s e-learning platform for the diamond and jewelry industry, has released two new online courses to help jewelers improve their sales. The new courses were created in response to requests from retailers looking for additional resources to help them with their marketing and sales, both online and in-store.

Alrosa Brings In $10.5M at Dubai Auction

Author: unknown - Published 26-06-2018 14:00 - ( Reads)
Alrosa sold $10.5 million worth of rough diamonds at an exceptional-stone tender in Dubai, the miner said last week.

After GST, big is bountiful at Diamond City

Author: RUTAM VORA - Published 22-06-2018 14:08 - ( Reads)
For Surat’s 40-year-old Paresh Kanani, life has changed dramatically over the past year. His small-time diamond trade, which used third-party channels to export small quantities of jewellery to clients abroad, now harbours ambitions of becoming a ₹100-crore company from the ₹8 crore it now is. Kanani and many like him in the diamond hub of Surat attribute their happiness to the new tax regime, the Goods and Services Tax (GST), which, they say, has given wings to their dreams.

Unique Lab Grown Diamond Submits a 5.01 ct Intense Pinkish Orange Diamond to GIA New York

Author: unknown - Published 22-06-2018 12:58 - ( Reads)
Unique Lab Grown Diamond Inc. recently submitted an intense pinkish-orange CVD synthetic diamond to GIA’s New York facility for testing. In its report GIA said this kindof intense pink-orange colour is hard to come by even in natural diamonds, particularly in large sizes.

Tight credit may hit diamond exporters

Author: Sutanuka Ghosal - Published 22-06-2018 12:06 - ( Reads)
DiamondNSE 0.00 % traders say banks’ stance on credit limit is hurting the industry and the resulting liquidity crunch could dent exports.

Rapaport Weekly Market Comment

Author: unknown - Published 21-06-2018 10:59 - ( Reads)
Hong Kong show opens with rising expectations for Chinese demand after Las Vegas demonstrates positive US market. Polished prices firm for RapSpec A2+ diamonds, and buyers shifting to lower price points for lower-quality goods. Limited inventory supporting prices for 3 ct. and larger diamonds. Rough trading steady during De Beers sight, despite tight manufacturing profit margins. Consolidation among cutters and dealers expected as high rough prices reduce profitability. India May polished exports +8% to $2.2B. Antwerp’s AWDC unveils automated polishing technology. Martin Rapaport issues statement calling on De Beers to cancel its restriction on source disclosure.

Gold prices drop to six-month low on strong dollar, rate outlook

Author: unknown - Published 21-06-2018 02:53 - ( Reads)
Gold prices posted a six-month low on Thursday, pressed down further by a firm dollar and as the US Federal Reserve Chair confirmed an outlook for higher interest rates in the United States.

Lucara Sells Two Huge Diamonds at $32M Tender

Author: unknown - Published 20-06-2018 05:23 - ( Reads)
Lucara Diamond Corp. sold $32.5 million worth of rough from the Karowe mine at its recent exceptional-stone tender, including a 327-carat diamond that fetched more than $10 million.
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