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Rapaport TradeWire February 20, 2020
Feb 20, 2020 10:49 AM
By Rapaport
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| February 20, 2020 | | RAPAPORT MARKET COMMENT |  | | China slowdown affecting global sentiment. Diamond markets quiet as coronavirus reduces value across the supply chain. Chinese and Hong Kong jewelers remain closed and lack of Chinese tourism likely to impact European and US luxury brands. US retailers consider short-term alternatives to Chinese suppliers. Diamantaires concerned about delayed payments from Hong Kong buyers. Reduced demand leading to polished inventory buildup, since manufacturers bought large volume of rough in Dec./Jan. Miners with inflated inventory cautious about 2020 production. Small De Beers sight expected next week. De Beers 2019 revenue -24% to $4.6B, earnings -87% to $45M, average price -20% to $137/ct. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.76% | 1.05% | -3.59% | | 0.50 ct | -0.10% | -0.76% | -3.85% | | 1.00 ct | -0.82% | -1.19% | -6.13% | | 3.00 ct | -0.68% | -3.10% | -16.00% |  | | 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 US polished demand supporting global trade as China weakens... |  |  | Belgium: Buyers pushing for higher discounts, but suppliers to US are holding prices steady... | | |  | Israel: Concern that Indian suppliers will lower prices and flood market with polished amid slump in Chinese-Hong Kong orders... | | |  | India: IIJS Signature fair signals shift to lighter-weight wedding jewelry due to high gold prices and weak economy... | | |  | Hong Kong: Businesses seeking ways to save money amid coronavirus epidemic; many mulling layoffs... | | |  | | | How Big a Threat is the Coronavirus? |  | | WITH The Rapaport Diamond Podcast | With the coronavirus dominating headlines since late January, the Rapaport Diamond Podcast looks at its potential impact on the diamond and jewelry market, from the retail sector to manufacturers and miners. |  | | | Making yourself shine on Instagram |  | | WITH Tracey Ellison | In a new post on Jewelry Connoisseur, Tracey Ellison, aka TheDiamondsGirl, who has over 706,000 followers on Instagram, shares her best advice on how to stand out on the social media platform. |  | | | WEEKLY NEWS | | industry | | | | De Beers Adds Grading Specs for Lightbox | | Company will disclose general quality information for its white synthetic stones. |  | | | L.J. West Buys Pink-Purple Alrosa Diamond | | New York wholesaler plans to recut 6.21-carat stone. | | | | | Peter Meeus Bids Again for HRD Antwerp | | Lab’s former head believes he is the only contender left. | | | | | retail | | | | Coronavirus Impact May Reach US Retail | | Lower shipments from China could affect supply chains and sentiment, NRF says. | | | | | Signet Launches First Spanish-Language Ads | | Jared and Zales target growing community of Hispanic Americans. | | | | | How to Build a Strong Retail Community | | Here are some expert tips for creating a following and maximizing your impact. | | | | | mining | | | | De Beers Optimistic After 2019 Earnings Slump | | Industry’s inventory situation has improved, company says. | | | | | Rio Tinto’s Canada Deal Hits Trouble | | Star Diamond accuses mining giant of not complying with terms of joint venture. | | | | | Challenging Market Weighs on Petra | | Miner posts net loss of $10 million and sees debts increase in first fiscal half. | | | | | Lucapa Closing In On Diamond Source | | Company believes new drilling site could lead to “mother lode” find. | | | | | Gem Diamonds Sees Sales Decline in 2019 | | Weak full-year performance comes despite stronger fourth quarter. | | | | | Angola’s Annual Rough Revenue Rises | | Figure up 6% in 2019 as miner sells nine special stones from Catoca for $3.7 million. | | | | | general | | | | Star Rays Outlines Plan to Be Carbon-Neutral | | Indian manufacturer believes greener credentials will help attract consumers. | | | | | US Keeps Swiss Watch Exports Afloat | | Higher shipments to American market in January offset weak Hong Kong performance. | | | | | Gold Demand Lifts Mood at India Jewelry Show | | IIJS Signature exhibitors note resilience of country’s wedding market. | | | | | DMCC Debuts New Diamond-Boiling Facility | | Location will have capacity to process 1.4 million carats each month. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global retail stocks continued to descend amid fears of the coronavirus’s impact on consumer sentiment. Macy’s (-4.2%), J.C. Penney (-3.7%), Pandora (-2.9%), Richemont (-2.8%) and Kering (-2.2%) all lost ground. Petra (-25%) and Gem Diamonds (-5%) both fell following disappointing results, while Firestone (+41%) increased. | | | | | 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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