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Rapaport TradeWire August 22, 2019
Aug 22, 2019 10:11 AM
By Rapaport
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| August 22, 2019 | | RAPAPORT MARKET COMMENT |  | | Polished inventory levels starting to decline as manufacturers cut production and rough buying. Small Aug. sight as De Beers lets sightholders reject 50% of goods. Alrosa slashes 2019 sales forecast from 38M cts. to 33M cts. after 2Q revenue -21% to $859M, profit -47% to $200M. Weak China demand and tight profit margins still a concern. Buyers very selective during downturn. Strong jewelry sales at Macy’s and J.C. Penney highlight discounting and promotional retail environment. Belgian, Indian and Israeli trade bodies call to postpone Hong Kong show. Ian Rowe replaces Dorothée Gizenga as executive director of Diamond Development Initiative. Sean Kell appointed Blue Nile CEO. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.01% | -1.10% | -21.93% | | 0.50 ct | -0.38% | -1.54% | -10.68% | | 1.00 ct | -0.06% | -1.08% | -6.55% | | 3.00 ct | -0.99% | -1.13% | -17.73% |  | | 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: Dealers looking for unique items, such as unusual fancy shapes, mirroring consumer requests for personalized pieces... |  |  | Belgium: Fewer fresh goods available, as manufacturing has declined... | | |  | Israel: Trading quiet with the Israel Diamond Exchange closed until August 25... | | |  | India: Weakening rupee and stricter customs controls weighing on sentiment... | | |  | Hong Kong: Luxury sales down 4% to 11% due to demonstrations but could slide 10% to 60% if disruptions continue to year-end, according to analysts at Cowen... | | |  | | | Episode 17: Oversupply, Tariffs and Silver Linings |  | | WITH The Rapaport Diamond Podcast | With all the talk of recession, the trade war, and uncertainty in Hong Kong, we see a light at the end of the tunnel. In our latest podcast, the editorial team discusses the current economic environment and picks out some winning trends that should help raise sentiment. |  | | | India Considers its Future |  | | WITH Avi Krawitz | The August Rapaport Research Report assesses developments in India’s diamond market, where diamantaires are dwelling on important questions about prices, inventory, liquidity, bank credit and their prospects for the holiday season. |  | | | WEEKLY NEWS | | industry | | | | Trade Calls to Postpone Hong Kong Show | | GJEPC, AWDC and IDI are concerned clients will not attend and insurance won’t cover goods. |  | | | Sotheby’s Expects $26M for Pink Diamond | | Ring will go under the hammer at the Magnificent Jewels and Jadeite auction in Hong Kong. | | | | | GIA Exposes Rough with Fake Green Color | | Manufacturers coated diamond with chromium oxide powder. | | | | | DPA Seeks to Eradicate Diamond Misconceptions | | Organization’s new campaign wants to educate millennial consumers about the industry. | | | | | retail | | | | US Consumer Spending Robust Amid Trade War | | Strong job market led to continued buyer confidence, NRF says. | | | | | Tiffany Launches Men’s Collection | | Line includes jewelry, watches, accessories, barware, home objects and games. | | | | | Restructuring Efforts Boost Pandora | | Shares up 10% after results despite profit drop. | | | | | Jewelry Strong for J.C. Penney, Macy’s | | Gold, diamonds, fashion gems and ”modern bride” category saw highest rises. | | | | | China Drives Swiss Watch Rebound | | Shipments to the country rose 16% in July. | | | | | mining | | | | De Beers Lets Clients Reject 50% of Goods | | Sightholders can also sell 20% of diamonds back to the miner. | | | | | Alrosa Slashes Full-Year Sales Outlook | | Weak demand and lower-quality goods led to 21% decline in second quarter. | | | | | Slow Market Dents Gem Diamonds Results | | Revenue down 44% in the first half. | | | | | Debswana Mourns Death of Albert Milton | | He had been managing director of the Botswana-De Beers joint venture since November. | | | | | general | | | | Sotheby’s to Sell 100ct. Yellow-Diamond Necklace | | Piece is one of five by Anna Hu that will feature at Hong Kong auction. | | | | | Blue Nile Hires Permanent CEO | | Online retailer believes Sean Kell will position it as a trusted brand. | | | | | JBT Names New President | | Erich Jacobs will take over from Richard Weisenfeld on September 1. | | | | | NCDIA to Hold Colored-Diamond Seminar | | Session will be presented by GGTL director Thomas Hainschwang and moderated by Rapaport’s Joshua Freedman. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Retail stocks bounced back after President Donald Trump announced tariff delays on some consumer goods, with J.C. Penney (+6%), Walmart (+6%), Chow Tai Fook (+6%) and LVMH (+5%) all gaining. Pandora (+36%) got a boost from signs of its recovery in key markets. Shares in Stornoway Diamond (-33%) fell after the company reported it had been unable to find an investor and may close operations. Other mining stocks also tumbled, including Mountain Province (-10%) and Lucara Diamond (-4.3%). | | | | | Contact Us |  |       | | © Copyright 2019 Martin Rapaport. 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