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Rapaport TradeWire December 14, 2017

Dec 14, 2017 12:24 PM   By Rapaport
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Rapaport TradeWire
December 14, 2017
RAPAPORT MARKET COMMENT
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Diamond markets driven by last-minute Christmas orders and preparations for Chinese New Year. US retail sentiment gets boost from economic growth, pending tax cuts and record-high stock market (Dow at 24,666). Cost of credit rising as Fed hikes interest rates 0.25 points based on positive job-market outlook. Polished inventory reduced due to holiday demand and low availability of new manufactured goods. Synthetics, tight bank credit and manufacturing profit among biggest concerns for 2018. Rough market stable at $450M Dec. sight. De Beers 2017 estimated rough sales -5% to $5.3B. Belgium Nov. polished exports +11% to $971M, rough imports -13% to $986M.

4 Dec 2017 Gia Tw Banner December Date
RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct 0.27% 0.05% -0.80%
0.50 ct 0.23% -0.17% -19.18%
1.00 ct 0.06% -0.56% -6.04%
3.00 ct -0.99% -1.40% 4.18%
RAPI Yearly Graph
600X160 New3 1
Market Reports
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United States: Suppliers sending goods on short-term memo to stimulate deals...
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Belgium: Dealers offering higher discounts on lower-quality goods, as they don’t want to hold inventory over the holiday period...
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Israel: Stable market with steady orders from the US and Hong Kong...
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India: Manufacturers maintaining low production until end of the year...
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Hong Kong: Rising expectations for the season amid improved consumer sentiment...
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Listen to the premier (and only) podcast covering the diamond and jewelry industry. The first edition looks at the holiday season’s upbeat forecast, how social media has changed the way we shop, and what Meghan Markle’s engagement ring means for the trade.

UPS AND DOWNS
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Today, Eccentric Pieces Are a Girl’s Best Friend
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Jewelry Holiday Gift Guide
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Retailers Still Haven’t Caught Up to Millennials
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Singles’ Day Fails to Boost China Sales
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Trade Wire December Single Stone
WEEKLY NEWS
industry
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Diamond Midstream Improving Efficiency, Says Bain
Cutting sector is streamlining business models to restore profits.
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Israel Takes Its Cut from 813ct. Constellation
Local trade says sawing the rough stone shows the nation’s market-leading prowess, but Dubai might disagree.
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Legendary Yellow Diamonds Dazzle at Bonhams
Collection’s history features deals between the Oppenheimers and the Cullinans.
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De Beers Sees Future in Forward Contracts
Pilot program accounted for 10% of the company’s auction revenue this year.
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Myths Busted: The Truth About Diamonds
False beliefs about the industry, especially among consumers, are some of the hardest to debunk.
retail
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Charming Charlie Chooses Chapter 11
Fashion-jewelry retailer plans to close underperforming stores.
mining
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Rough Demand Stable at $450M De Beers Sight
Premiums on secondary market rise in some categories, but manufacturers’ profits still slim.
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Alrosa Benefits from Rough Market Recovery
Demand comparatively high after India’s demonetization policy sapped liquidity a year ago.
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Gem Diamonds Ends Talks over Mine Sale
Ghaghoo asset remains on care and maintenance due to price drop.
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Gemfields Owner Reduces Staff, Salaries
Colored-gemstone miner aims to lift production of high-value emeralds.
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Alrosa Becomes a Certified RJC Member
Miner’s sustainability practices get green light from independent auditor.
general
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India Firm Launches Diamond-Cutting Robot
Machine puts stone in optimal position without human intervention.
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Marange Subject to Zimbabwe’s Indigenization Law
Government restricts rules to diamond and platinum sectors.
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Belgium’s Diamond Exports See November Growth
Net account more than triples compared with last year.
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GSI Expands Synthetic-Testing Service
It’s now available in Hong Kong, India, New York and Dubai.
Rapnet Ban Master 600X160 Static
FINANCE
Diamond Industry Stock Report
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It’s been a volatile week for diamond and retail shares, even as major stock indices rose. Shares of Gem Diamonds (-12.5%) fell after the company ended talks over the sale of its Ghaghoo mine. Birks Group (-11%) and J.C. Penney (-9.6%) headed the declines among North American retailers, though Signet (+5.8%) was among those that gained. Chow Sang Sang (+7%) led Far East stocks, while Swatch Group (+6.3%) was the strongest performer out of select European luxury groups, following an upgrade by Credit Suisse.

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