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Rapaport TradeWire February 6, 2020
Feb 6, 2020 10:31 AM
By Rapaport
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| February 6, 2020 | | RAPAPORT MARKET COMMENT |  | | Hong Kong shows postponed to May 18-21 as coronavirus impacts global trade. Weak Chinese New Year sales to reduce 1Q inventory replacement as jewelers are left with large volumes that didn’t sell. Diamond markets quiet. Polished prices supported by shortages, particularly of 0.30 to 0.49 ct., D-F, IF-VVS2 goods. 1 ct. RAPI -0.4% in Jan. Manufacturers cautious, despite strong recent rough buying, as oversupply of lower-quality diamonds remains. Russia’s Eximbank enters diamond lending as Alrosa helps negotiate loan to Dali Diamond. Lucara finds 549 ct. rough at Karowe mine. Martin Rapaport to give keynote presentations at Israel Diamond Exchange Feb. 10 and Palm Beach Show Feb. 16. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 1.49% | 3.21% | -3.16% | | 0.50 ct | -0.57% | 0.52% | -3.82% | | 1.00 ct | -0.06% | -0.63% | -5.23% | | 3.00 ct | -1.82% | -1.18% | -15.59% |  | | 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: Pockets of good demand, with steady orders for 1 to 1.50 ct., G-J, VS2-I1 diamonds for bridal... |  |  | Belgium: Rough market slower after strong January sales... | | |  | Israel: Slow market, but improvement anticipated during International Diamond Week (Feb. 10-12)... | | |  | India: Trade disappointed by 2020 government budget, which kept import duty on gold at 12.5% and polished diamonds at 7.5%... | | |  | Hong Kong: Fewer buyers in the market as government imposes two-week quarantine on visitors from mainland China following outbreak of coronavirus... | | |  | | | MARTIN RAPAPORT TO SPEAK IN ISRAEL |  | | WITH Martin Rapaport | Rapaport Group Chairman will speak about the challenges and opportunities in Israel’s diamond trade during International Diamond Week in Israel. His presentation will take place on Monday, February 10, at 4:30 p.m. |  | | | Your New Free Source of Jewelry Knowledge |  | | WITH Jewelry Connoisseur by Rapaport | Knowing everything about diamonds, but little about jewelry trends, materials and design is akin to the sound of one hand clapping. Jewelry Connoisseur by Rapaport is a free and essential addition to the must-read sources of knowledge you should be consuming to give you the edge. |  | | | WEEKLY NEWS | | industry | | | | Hong Kong Shows Postponed Due to Coronavirus | | Fairs will take place in May instead of March. |  | | | Diamond Market Cautious Amid China Concerns | | 1-carat RAPI down 0.4% in January. | | | | | André Messika Invests in Namibia Factory | | The operation employs over 30 disabled workers. | | | | | Asscher to Lead World Diamond Council | | He will take over as president for a two-year term at start of June. | | | | | Gucci Pulls Out of Baselworld | | Later timing of 2020 show was an issue for the luxury brand. | | | | | retail | | | | Valentine’s Day Spending Set to Increase 32% | | Shoppers plan to shell out $5.8 billion on jewelry. | | | | | Sterling Takes Gender-Bias Case to Supreme Court | | Jeweler appeals earlier rulings that empowered an arbitrator to certify class-action proceedings. | | | | | Hong Kong Luxury Sales Hit Decade Low | | Revenue from jewelry, watches, clocks and other valuable gifts falls 22% in 2019. | | | | | Pandora Predicts Slowdown Amid China Weakness | | Company expects sales will decrease 3% to 6% in 2020. | | | | | Swatch Group Revenue Drops in 2019 | | Sluggish Hong Kong market and strong Swiss franc presented challenges for owner of Omega and Harry Winston. | | | | | mining | | | | Alrosa Reveals Client List for 2020 | | Miner removes two companies and adds one in annual reshuffle. | | | | | Karowe Yields Massive 549ct. Rough | | Stone is fourth largest in Botswana deposit’s history. | | | | | Mountain Province to Exit Nasdaq | | Miner will still be registered with the Toronto Stock Exchange. | | | | | Russian Bank Offers Credit to Alrosa Client | | Eximbank enters market amid scarcity of finance in the industry. | | | | | general | | | | De Beers Brings Its Grading Services to US | | Miner will have exclusive rights to provide reports to wholesaler RDI Diamonds. | | | | | Self-Purchasing Females Choose Tiffany | | Pandora, Swarovski and Gucci are the next most popular, says MVI Marketing survey. | | | | | Gold-Jewelry Demand Hits Eight-Year Low | | Economic slowdown in India and China drove the 10% drop for the fourth quarter. | | | | | WJN Launches Gender-Equality Survey | | Study asks about topics such as work satisfaction, support and career progression. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global retail stocks rebounded after analysts predicted the coronavirus’s impact would be short-lived. Macy’s (+3.4%), Chow Tai Fook (+3.3%), Luk Fook (+2.6%), LVMH (+3.8%) and Richemont (+3.5%) all rose. Mining companies had a mixed week, with Lucapa (+14%) and Gem Diamonds (+8%) climbing, while Petra (-8%) and Mountain Province (-8%) both lost ground. | | | | | 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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