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Rapaport TradeWire January 23, 2020
Jan 23, 2020 10:49 AM
By Rapaport
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| January 23, 2020 | | RAPAPORT MARKET COMMENT |  | | Polished sentiment positive following steady holiday sales. Strong interest in 0.30 ct., D-F, IF-VS1, but high-end 3 ct. and larger weak. Increasing rough demand raising polished-oversupply concerns as large quantities expected to enter market in coming weeks. De Beers lifts prices in some categories at Jan. sight and plans changes to rough buying criteria. De Beers 2019 sales -8% to 31M cts. Alrosa 2019 revenue $3.3B (-26%), sales volume 33.4M cts. (-12%). Far East dealer market slow ahead of Lunar New Year. Luk Fook to shut some Hong Kong stores as spending shifts to China. Richemont 3Q jewelry sales +9% to $2.4B. GIA halts sealing service following tampering. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.41% | 2.76% | -5.04% | | 0.50 ct | 0.32% | 1.69% | -2.96% | | 1.00 ct | -0.33% | -0.40% | -5.05% | | 3.00 ct | 0.41% | 0.90% | -14.40% |  | | 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: Select categories showing shortages while concerns grow about oversupply of weaker items... |  |  | Belgium: Fancy shapes moving well, but fancy colors slowing... | | |  | Israel: Peak 2019 selling season flat compared with 2018... | | |  | India: Local Indian jewelry market weak amid tight liquidity and high gold prices... | | |  | Hong Kong: Focus after Chinese New Year will be on March Hong Kong show, with expectations high amid solid retail demand from mainland... | | |  | | | How to Sell to Millennials |  | | WITH Leah Meirovich | Luxury retailers need a less traditional approach if they want the “me generation” to buy their products. Here are some tips for reaching this coveted cohort of consumers. |  | | | WEEKLY NEWS | | industry | | | | De Beers Plans Overhaul of Supply Policy | | Sightholders’ purchase history will no longer be main driver of future allocations. |  | | | GIA Suspends Sealing Service | | Move comes after fraudsters tampered with packets. | | | | | DelGatto and Koin Partner on Tender Financing | | Funding will be available to buyers of rough and polished goods. | | | | | retail | | | | Luk Fook to Reduce Hong Kong Presence | | Jeweler will expand in mainland China and Macau. | | | | | Holiday Sales Rise Amid Positive Sentiment | | Revenue for the season up 4.1% to $730.2 billion, National Retail Federation reports. | | | | | US Trade Continues to Downsize | | 900 jewelry businesses left the industry in 2019, while only 228 joined. | | | | | Robust Jewelry Sales Boost Richemont | | Growth in Europe, US and China outweighs Hong Kong slump in third quarter. | | | | | Chow Tai Fook Buys Chinese Retailer Enzo | | Deal will help jewelry giant expand in the colored-gemstone market. | | | | | mining | | | | Rio Tinto Lowers Outlook as Argyle Closure Looms | | Production will drop to between 12 million and 14 million carats in 2020, miner forecasts. | | | | | Alrosa Takes First Step Toward Reopening Mir | | Company starts drilling to test mine’s potential. | | | | | New Production Strategy Pays Off for BlueRock | | Company reports first annual profit in its history. | | | | | general | | | | GIA Examines Alrosa’s Matryoshka Diamond | | Researchers believe free-moving internal crystal formed when inner material dissolved. | | | | | Bonhams Expands Global Jewelry Team | | Eleonora D’Ottavi joins as head of the category in Italy. | | | | | Gem Legacy Adds New Advisory Board Member | | Craig Danforth of Jewelers Mutual Group will be “priceless asset” to the nonprofit’s mission. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Signet (+27%) soared after the jeweler reported strong holiday sales, while J.C. Penney (+3.3%) also rose. Chow Sang Sang (-8%) and Chow Tai Fook (-6%) lost ground following their announcements of store closures in Hong Kong. Mining stocks performed well, with Petra (+26%), Gem Diamonds (+10%) and Lucapa (+8%) all climbing. | | | | | Contact Us |  |       | | © Copyright 2020 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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