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Rapaport Weekly Market Comment
October 13, 2016
Oct 13, 2016 11:00 AM
By Rapaport News
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Trading centers quiet
over Jewish holidays. U.S. stable with good demand for H-K, SI-I1’s before
Christmas selling season. Indian buyers looking for deals with rising
expectations for Diwali sales after good monsoon season and lower rupee gold
prices (-5%). LVMH 3Q jewelry & watch revenue +2% to $966M. U.S. Aug. net
polished imports -1% to $240M. Belgium Sep. polished exports -11% to $1.2B,
rough imports +39% to $1.2B. DPA launches generic advertising videos targeting
millennials. Rapaport offices will be closed Monday and Tuesday (Oct 17-18)
and the Rapaport Price List will not be published next week (Oct. 21) due to
Jewish holiday of Succot.
Fancies: Markets slow. Large 5 ct.-plus
fine-quality goods getting more interest. Curved fancy shapes improving. Ovals
and Pears steady. Square shapes slow. Emeralds selling with improving
large-stone demand. Top-quality fine-cut fancy shapes OK but buyers are
extremely picky. Overall fancy shape prices relatively soft. U.S. demand
supporting market for commercial-quality fancies, especially for sizes under 1
ct. Far East fancy demand weak. Buyers are very selective and insisting on
excellent-shape proportions. Significant price differentials between excellent-
and average-cut fancies. Off-make, poorly-cut fancies illiquid and very hard to
sell, even at very deep discounts.
United
States:
Trading sentiment improves forholiday season as DPA launches
unconventional video ads focused on millennials who think differently about
diamonds and relationships. Steady engagement ring and bridal sales supporting
the market. Dealer demand stable but buyers avoiding large inventory purchases.
Steady demand for 0.70 to 2 ct., G-J, SI’s.
Belgium:
Trading
quiet over Jewish holiday period. Dealers focused on filling U.S. pre-season
orders. Steady demand for 0.30 to 0.50 ct., H-K, VS-SI’s. Large stones above 3
ct. weak. European luxury demand okay, with France showing weakness. Rough
trading stable.
Israel:
Short
week in Israel due to Yom Kippur holiday. Bourse to close Sunday and Monday
(Oct. 16-17) with half-day services over rest of the Succot holiday. Dealers
focused on U.S. orders with improving demand for 1 ct., H-K, VS-SI diamonds. Dealers
preparing for NY Israel Diamond Week (Oct 31-Nov 1).
India:
Market
slow with dealers already in festive mode after auspicious Dussehra holiday on
Tuesday (Oct. 11). Very few foreign buyers in Mumbai during Jewish holiday
period. Polished inventory rising ahead of Diwali break (Nov. 1). Selective
good demand with dealers shifting to lower price points. Steady U.S. demand for
0.20 to 0.70 ct., H-K, SI-I2 diamonds. 1 ct. and larger slower. Melee
improving, stars remain weak.
Hong
Kong: Polished
market stable but few buyers from trading centers. Steady demand for 0.30 to 0.50
ct., G-J, VS-SI diamonds. Millennial consumers focused on affordable price
points. Chinese demand stable as retailers preparing for Christmas and Chinese
New Year seasons. Hong Kong retail weak, Mainland China improving with
encouraging Golden Week sales.
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Tags:
Rapaport News
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