|
|
Rapaport TradeWire September 5, 2019
Sep 5, 2019 11:09 AM
By Rapaport
|
|
|
| September 5, 2019 | | RAPAPORT MARKET COMMENT |  | | Concerns about Hong Kong show remain as protests continue despite withdrawal of extradition bill that sparked them. Luxury jewelers developing China strategy to focus on high-end consumers, who are spending more at home. Weak Chinese wholesale demand weighing on diamond market, with 1 ct. RAPI -0.4% in August. US jewelers considering buying opportunities but delaying holiday stock orders. Signet Jewelers 2Q sales -4% to $1.4B, net loss of $44M vs. $31M loss last year. Polished inventory levels reduced, but still higher than previous years. Manufacturing profit margins tight despite limited rough supply. Rough prices must come down to enable better 2020. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.25% | -0.57% | -21.80% | | 0.50 ct | -0.34% | -0.91% | -10.51% | | 1.00 ct | -0.71% | -0.45% | -6.23% | | 3.00 ct | -1.40% | -2.35% | -18.59% |  | | 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: Steady demand for 1 to 1.50 ct., G-J, VS-SI engagement-ring goods, with rising interest in ovals... |  |  | Belgium: Calls to fill specific orders, but very few buying for stock... | | |  | Israel: Uncertainty surrounding the Hong Kong show, although some foresee buying opportunity in weak market... | | |  | India: High gold price and declining currency (INR 72/$1) impacting domestic jewelry demand... | | |  | Hong Kong: Local wholesalers expecting some dealer activity at the fair, but low Chinese buyer attendance... | | |  | | | Tracr Aiming to Be More Than a Blockchain |  | | WITH Avi Krawitz | In an interview with Rapaport News, CEO Jim Duffy outlines his vision for a digital platform that connects the entire diamond market. |  | | | WEEKLY NEWS | | industry | | | | China Slowdown Weighing on Diamond Prices | | Far East demand sluggish due to an escalation of the trade war, protests in Hong Kong, and the depreciation of the yuan. |  | | | US Trade Calls to Delay Tariff Hike | | More than 160 business groups write open letter asking for postponement until after holiday season. | | | | | Angola Aims to Broaden Its Diamond Trade | | Mineral minister wants to diversify the local industry across the pipeline. | | | | | South Africa Urges Diamond-Sector Change | | Government concerned that only about one quarter of carats produced went to local beneficiation. | | | | | retail | | | | Signet Lowers Outlook as Sales Drop | | Revenue dragged down by weak purchasing at Jared and Kay. | | | | | Tiffany & Co. Expanding in China | | Jeweler will launch additional stores, Blue Box Cafes and new collections. | | | | | Pandora Relaunches to Attract Younger Audience | | Jeweler introduces new look and brand influencers at LA event. | | | | | Hong Kong Retail Suffers Amid Protests | | Weakened consumer sentiment and disruptions to tourism lead to double-digit drop. | | | | | mining | | | | Drop in Large Stones Dents Gem Diamonds | | Miner recovered three over 100 carats during first half compared with 10 the previous year. | | | | | High-Quality Rough Lifts Lucapa Profit | | Miner reported loss of $4.3 million last year. | | | | | BlueRock Loss Narrows as Sales Rise | | Revenue more than doubled in first half. | | | | | general | | | | WDC Executive Director Exits Organization | | Marie-Chantal Kaninda was named one of the 100 most influential women in Africa by “Forbes.” | | | | | IGI Names North American President | | Avi Levy will focus on expanding the institute’s global recognition. | | | | | Webinar Series to Guide Responsible Sourcing | | First Jewelry Industry Summit seminar will take place October 11. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global retail stocks rebounded this week following Hong Kong leader Carrie Lam’s withdrawal of the extradition bill. Macy’s (+2%), Chow Tai Fook (+8%), Luk Fook (+5%), LVMH (+4.5%) and Kering (+4.2%) all rose, while J.C. Penney (+12%) got a boost after company executives purchased shares in the business. Mining companies fared well, with stock in Lucapa (+7%), Petra (+6%) and Alrosa (+3.2%) all rising. Mountain Province (-8%) and Stornoway (-38%) both fell following reports they might be delisted from their respective stock exchanges. | | | | | Contact Us |  |       | | © Copyright 2019 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|