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Rapaport TradeWire November 21, 2019
Nov 21, 2019 10:32 AM
By Rapaport
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| November 21, 2019 | | RAPAPORT MARKET COMMENT |  | | Market sentiment improves as focus shifts to retail ahead of Thanksgiving weekend. Jewelers preparing Black Friday promotions, with strong emphasis on e-commerce. Department stores and mall-based retailers offering heavy online discounts to entice customers. A lot of diamonds out on memo. Dealers maintaining firm prices for RapSpec A3+ diamonds, with positive trend in dossiers as reduced manufacturing has led to scarcity of better qualities. Cutters raising polished production in anticipation of post-holiday demand, but rough supply limited. Belgium Oct. rough imports -30% to $529M. Petra Diamonds sells 20.08 ct. blue rough for $14.9M ($741,000/ct.). | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 1.02% | 2.78% | -15.90% | | 0.50 ct | 0.54% | 1.18% | -8.40% | | 1.00 ct | -0.07% | 0.08% | -5.75% | | 3.00 ct | -0.15% | -1.06% | -18.15% |  | | 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 0.90 to 1.50 ct., G-J, VS2-I1 diamonds for engagement rings... |  |  | Belgium: Lack of goods limiting transactions after 3Q market slump... | | |  | Israel: Dealers willing to compromise on profitability, preferring goods that are easy to sell quickly... | | |  | India: Steady rough demand as factories raise polished production... | | |  | Hong Kong: Diamond wholesale and jewelry retail markets extremely quiet as political protests have escalated... | | |  | | | Zvi Yehuda: The Industry’s Idea Man |  | | WITH Leah Meirovich | Over his 66-year career, Zvi Yehuda’s name has become synonymous with innovations and technology that have revolutionized the diamond industry. |  | | | WEEKLY NEWS | | industry | | | | Petra Sells 20ct. Blue Diamond for $15M | | Stone fetches $741,000 per carat at Johannesburg tender. |  | | | CIBJO Creates Lab-Grown Diamond Committee | | Group will establish rules to avoid conflict between natural and synthetic industries. | | | | | Rio Tinto Sees Strong Bidding for Argyle Pinks | | Aurostar subsidiary buys 1.75-carat Argyle Enigma. | | | | | Zimbabwe to Take Smaller Cut of Diamond Sales | | Government aims to attract investors with lower royalty rate of 10%. | | | | | Rough Slowdown Weighs on Asian Star | | Indian manufacturer’s revenue and profit drop amid slump in trading business. | | | | | retail | | | | Tiffany Brings Ex-Barneys CEO on Board | | Daniella Vitale will be jeweler’s new executive vice president and chief brand officer. | | | | | US Retail Sales Rise Ahead of Holidays | | October purchases up 4.2% year on year. | | | | | Revenue Tumbles at Singapore’s SK Jewellery | | Retailer notes weak consumer outlook in Asian markets. | | | | | mining | | | | Rio Tinto Seeks Majority Stake in Canada Site | | Deal will give the miner 60% of Star-Orion South diamond project. | | | | | Mothae Yields Two Diamonds over 100ct. | | Lucapa recovers 220- and 127-carat stones at its Lesotho mine. | | | | | Diamcor Mining Shifts Back into Black | | Company benefits from lower costs in quarter ending September 30. | | | | | general | | | | De Beers Announces 2020 Sight Schedule | | First sale will begin January 20. | | | | | Decline in Belgium Trade Intensifies | | Polished exports drop 30% in October. | | | | | Blue Diamond Earrings Lead Bonhams Auction | | December sale will also feature jewels from late New York Yankees executive Joan Steinbrenner. | | | | | US, China Boost Swiss Watch Trade | | Shipments to those markets outweigh significant drop in Hong Kong. | | | | | 3ct. Blue Diamond to Lead Phillips Sale | | Tiffany ring has high estimate of $2.5 million. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Shares in Macy’s (-7%) and J.C. Penney (-7%) fell after they reported a drop in quarterly sales. Other retail stocks also declined, with Chow Sang Sang (-2.9%), Luk Fook (-1.2%), LVMH (-2.5%) and Pandora (-2.7%) all losing ground. Miners saw an improvement, as Lucapa (-1.6%) and Petra (-1.2%) slipped only slightly, while Mountain Province (+6%) rose. | | | | | Contact Us |  |       | | © Copyright 2019 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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