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Rapaport Weekly Market Comment
Oct 17, 2019 11:03 AM
By Rapaport News
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Markets quiet amid Jewish holidays with steady demand for
RapSpec A3+ goods. Indian manufacturers delay Diwali shutdown to increase
post-festival inventory. Trading slow at Bharat Diamond Week. Liquidity low
while companies settle supplier bills and pay staff ahead of Diwali. Alrosa
Sep. sales -24% to $259M, but small-stone demand recovering. Hong Kong protests
hit luxury sector, with Chow Tai Fook 2Q retail sales -35% in Hong Kong and
Macau, +4% in mainland China. De Beers launching Lightbox at Bloomingdale’s and
Reeds Jewelers. David Kellie to succeed Jean-Marc Lieberherr as CEO of Diamond
Producers Association. Rapaport offices will close Oct. 21-22 for Jewish
holidays.
Fancies: Fancy
shapes soft, reflecting slowdown in overall demand. High-end collection goods
weak, as dealers and consumers shift to lower price points. Some brands with
requests for high qualities are paying a premium for rare items and very
well-made fancies. Ovals for fashion jewelry moving well in 1.50 and 2 ct.,
G-H, VS and H-K, SI2. Marquises and Princesses weak despite reduced
manufacturing. US sustaining market for under 1 ct.commercial-quality, medium-priced fancies.
Chinese consumers seeking fancy shapes at better prices. Off-make, poorly cut
fancies illiquid and hard to sell, even at very deep discounts.
Rapaport News will resume publication of the
country market comments after the Jewish holiday period.
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Tags:
Rapaport News
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