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Rapaport Weekly Market Comment
Aug 24, 2017 11:00 AM
By Rapaport News
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Diamond markets seasonally quiet, with polished inventory
rising after slow summer. Dealers hoping Hong Kong show will increase polished
trading as Chinese retail jewelry sales improve. Rough demand expected to
soften at next week’s De Beers sight, with lower prices for boxes on the
secondary market. Signet Jewelers seeks to boost sales with deal to buy
e-commerce retailer James Allen for $328M. Signet 2Q revenue +2% to $1.4B, profit +14%
to $93M. Tiffany 2Q sales +3% to
$960M, profit +9% to $115M. India
July polished exports flat at $1.6B, rough imports -6% to $1.3B. US June
polished imports -3% to $1.7B. Israel 1H polished exports -3% to $2.5B, rough
imports -6% to $1.5B.
Fancies: Ovals gaining popularity with US consumers.
Pears and Cushions steady. Squares soft, with declining interest in Princesses.
US demand supporting market for commercial-quality, medium-priced fancies for
sizes under 1 ct. Selective buyers of large, fine-quality fancy shapes facing
limited supply. Far East demand improving as consumers seek fancy shapes at
better prices. Off-make, poorly cut fancies illiquid and hard to sell, even at
very deep discounts.
United
States: Polished
trading slowly improving after summer break. Dealers cautious due to high
inventory levels and sluggish demand. Selective buyers making very few purchases
to build stock. Difficult to source nice goods. Steady demand for RapSpec A2+
SIs. Jewelers delaying holiday orders and taking goods on memo.
Belgium:
Market very quiet as
dealers slowly return from vacation. Trading expected to remain slow until Hong
Kong Jewellery and Gem Fair (September 13). Liquidity concerns widen as profit
margins tighten. Inventory levels higher than expected for this time of year.
Rough trading slow ahead of next week’s De Beers sight.
Israel:
Trading slow as
dealers return from vacation. Rising expectations for Hong Kong show, with large
Israeli delegation attending. Good demand for 1 to 2 ct. piqué goods, with
Israeli dealers buying from India and selling to the US. Memo orders dominating
the market. Rough trading cautious.
India: Stable polished market as dealers
prepare for Hong Kong show. Steady US and Chinese demand for VS-SI dossiers.
Sluggish demand for 0.70 ct. and 0.90 ct. diamonds.Rough dealers
cautious ahead of De Beers sight due to high prices and reduced profit margins.
Polished production expected to remain steady until Diwali break (October 19).
Hong
Kong: Trading
disrupted by typhoon season, but sentiment improving ahead of Hong Kong show. Dealers holding large inventory and
focused on sourcing the right goods for the show. Steady demand for 1 ct., D-F,
VS2-SI2, RapSpec A2+ (triple Ex, no fluorescence) diamonds. China and other
Asian retail markets steady. Hong Kong slowly improving.
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Tags:
Rapaport News
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