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Rapaport TradeWire July 19, 2018
Jul 19, 2018 11:52 AM
By Rapaport
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| July 19, 2018 | | RAPAPORT MARKET COMMENT |  | | Slow trading, with dealers in summer vacation mode. Bargain-hunters asking for higher discounts during quiet period, but suppliers holding prices firm. Difficult to replace goods after recent price hikes and with fewer RapSpec A2+ goods on the market. US retail seasonally slow, but e-commerce strong as record Prime Day sales exceed Amazon’s Cyber Monday and Black Friday. Asia growth continues with Chow Tai Fook 2Q same-store sales +4% in China, +26% in Hong Kong/Macau. Concerns weaker yuan will impact 3Q consumer spending. Rough trading stable, with lower volumes supporting prices. De Beers 1H production +8% to 17.5M cts., sales -7% to 17.8M cts., average price +4% to $162/ct. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.36% | 2.44% | 6.29% | | 0.50 ct | -0.05% | -0.11% | -1.05% | | 1.00 ct | 0.01% | 0.40% | 0.93% | | 3.00 ct | -0.40% | 0.31% | 3.11% |  | | The RapNet Diamond Index (RAPI™) is the average asking price in hundred $/ct. of the 10 percent best priced diamonds, for each of the top 25 quality round diamonds (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better) offered for sale on RapNet - Rapaport Diamond Trading Network. | | | | Market Reports | | |  | United States: Traders slowly returning from vacation, but finding it difficult to replace goods they sold before July 4 break... |  |  | Belgium: Fewer orders, with dealers prepared to wait through the vacation period rather than sell at lower prices... | | |  | Israel: Local dealers looking for goods during quiet summer months, with some categories selling at lower prices in the US than in India... | | |  | India: Sentiment down due to sluggish summer demand, depreciating rupee and rumors of further bankruptcies... | | |  | Hong Kong: Improving demand for 3 ct. and larger stones, but shortages are restraining deals... | | |  | | | WEEKLY NEWS | | industry | | | | 133 Jewelers Join Sector in First Half | | US industry still shrinking, says JBT. |  | | | Surat Must Pivot to Marketing, Says Rapaport | | Manufacturers should sell to smaller US jewelers, Martin Rapaport argues. | | | | | US-China Trade War May Hit Jewelry Industry | | Rough diamonds and other raw materials appear on list of potential American tariff targets. | | | | | Paramount Acquires A. Jaffe for $5M | | Sale of Nirav Modi jeweler covers inventory, intellectual property, and income from unpaid customer bills. | | | | | Unique Designs to Buy Modi Company Inventory | | Manufacturer offers $725,983 for Fantasy’s assets. | | | | | retail | | | | Hong Kong Growth Boosts Chow Tai Fook | | Stronger consumer sentiment and tourism drive quarterly sales rise. | | | | | Swarovski Consolidates Its Lab-Grown Brands | | Diama label now part of Atelier Swarovski. | | | | | mining | | | | De Beers Sales Volume Rises in Positive Market | | Price index up 1.6% in first half. | | | | | Alrosa Plans to Dominate Colored-Diamond Market | | Miner will debut collection at Hong Kong show in September. | | | | | Rio Tinto Production Grows | | Argyle and Diavik mines contribute to 7% increase in second quarter. | | | | | De Beers Buys Peregrine Diamonds for $81M | | Canada-based explorer owns promising Chidliak resource. | | | | | general | | | | New York Fairs Unite in One Location | | Entry pass will give access to 2019 JA and NY NOW shows. | | | | | India Sees Further Rise in Diamond Exports | | Polished shipments up 9% in second quarter. | | | | | Peter Meeus to Head World Diamond Mark | | He replaces Alex Popov as chairman of marketing campaign. | | | | | Belgium’s Polished Trade Grows in June | | Exports up 4%, imports rise 7%. | | | | | Plumb Club Names New President | | Michael Lerche replaces Jonathan Cohen as head of suppliers’ alliance. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | US equities had a strong week after Federal Reserve chairman Jerome Powell gave an upbeat outlook for the economy. Birks Group (+18%) led the retail sector, while Macy’s (+4.3%) and J.C. Penney (+2.7%) also gained. Asian jewelers fared worse amid continued concerns about the US-China trade war, with Luk Fook (-10%) seeing the steepest decline. Swatch Group (+4.4%) stood out among resurgent European luxury stocks after releasing positive results and a forecast of solid demand in Asia and North America. India’s PC Jeweller (-42%) tanked after it withdrew its offer to buy back investors’ shares. | | | | | Contact Us |  |       | | © Copyright 2018 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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