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Rapaport Weekly Market Comment
Dec 26, 2019 10:58 AM
By Rapaport News
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Good momentum as Mastercard reports holiday jewelry sales +1.8%, driven by +8.8% growth in e-commerce. General retail +3.4%. Mall traffic down but more people buying. Stores focused on creating unique customer experience. Tiffany & Co. holiday revenue up 1% to 3%, with strength in China and improvement in Europe and America. Polished trading slow as dealers close for Christmas-New Year. Diamantaires preparing for post-season demand, but manufacturers cautious about raising factory production. Lower rough supply, tech-driven efficiency and ethical sourcing to shape diamond industry in next decade. Rapaport wishes everyone a happy, healthy, prosperous and peaceful New Year.
Fancies: Ovals are strongest shape, driven by US fashion jewelry demand. Larger emeralds above 2.50 ct., D-G, VVS2-VS2 also selling well. Pears slightly slower due to sluggish Hong Kong market. Princess and marquise continue to struggle. Fancies with classic and long ratios trending in fashion segment. Shortage of top-make fancies 1.50 ct. and larger in all categories except D color. US sustaining market for commercial-quality, medium-priced fancies. Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts.
United States: Polished trading quiet as wholesalers and dealers take vacation between Christmas and New Year. Retail sentiment positive amid steady holiday shopping. Top-tier independents with strong social media programs doing well. Dealers’ expectations rising for January memo sales.
Belgium: Very little trading with bourses closed until Jan. 6. Some Antwerp-based Indian dealers looking for goods in Mumbai during the break.
Israel: Market in vacation mode during eight-day Hanukkah festival. Suppliers increasingly optimistic after relatively successful season. Dealers waiting for memo returns to assess inventory needs. Focus now on meeting Far East demand for Jan. 25 Chinese New Year and developing strategy for 2020.
India: Polished business slow. Fewer foreign buyers in the market. Some Chinese demand ahead of Lunar Festival. Local jewelers focused on gold products during wedding season. Rough sector seasonally quiet. Manufacturers cautiously raising polished production in anticipation of better orders in 1Q.
Hong Kong: Wholesale sluggish due to Christmas holiday. Some seasonal improvement in retail, but sales still significantly below previous years as protests continue. Tourist arrivals down. Jewelers preparing for Chinese New Year, with positive expectations for mainland.
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Tags:
Rapaport News
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