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Rapaport TradeWire January 30, 2020
Jan 30, 2020 10:43 AM
By Rapaport
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| January 30, 2020 | | RAPAPORT MARKET COMMENT |  | | Chinese coronavirus outbreak raising concerns about retail demand as businesses extend Lunar New Year shutdown. Travel restrictions likely to affect global trading, leading to possible polished oversupply following strong rough demand. De Beers Jan. sales +9% to $545M as sightholders replenish inventory after good holiday season. Petra Diamonds 1H revenue -6% to $194M but notes rough-price increase in early 2020. LVMH 2019 jewelry and watch sales +7% to $4.8B with strong year at Bulgari. De Grisogono files for bankruptcy after reports link it to Isabel dos Santos corruption probe. Martin Rapaport Keynote Presentations at Israel Diamond Exchange Feb. 10 and Palm Beach Show Feb. 16. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.37% | 2.20% | -4.62% | | 0.50 ct | 0.03% | 1.70% | -2.94% | | 1.00 ct | 0.10% | -0.26% | -5.02% | | 3.00 ct | -0.04% | 0.90% | -14.53% |  | | 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: Weak market for expensive 3 ct. and larger stones in high colors and clarities... |  |  | Belgium: Customers showing appetite for larger 2 ct.+ diamonds, but only for top cut grades... | | |  | Israel: Israeli companies in better shape than others as solid holiday sales left them with diminished inventory... | | |  | India: Cutters and traders increasingly considering lab-grown diamonds in search of better profit margins... | | |  | Hong Kong: Uncertainty about upcoming trade show (Mar. 2-8) due to coronavirus situation... | | |  | | | WEEKLY NEWS | | industry | | | | De Grisogono Files for Bankruptcy Amid Probe | | Jeweler was caught up in alleged money-laundering scandal involving Isabel dos Santos and her husband. |  | | | De Beers Sales Rise to Nine-Month High | | Demand increases due to post-holiday inventory replenishment. | | | | | Martin Rapaport to Speak at Palm Beach Show | | Lecture will explain the challenges and opportunities in the diamond industry. | | | | | retail | | | | Jewelry and Watches Strong for LVMH in 2019 | | Sales for the categories grow 7% at Bulgari owner. | | | | | Swarovski Debuts Lab-Grown Diamond Colors | | Crystal brand introduces 16 new hues at Paris Haute Couture Fashion Week. | | | | | Consumers Choosing Higher-Priced Timepieces | | Watches of Switzerland has been tracking its transaction data for five years. | | | | | mining | | | | Weak Market Dents Alrosa Sales | | Annual revenue falls 26% in 2019. | | | | | Graff Unit Signs Polishing Deal with Lucapa | | Safdico will manufacture a portion of diamonds and split profits with the miner. | | | | | Rough Slump Hits Mountain Province | | Revenue for 2019 down 13%. | | | | | Petra Revenue Drops as Prices Weaken | | Half-year proceeds slip 6% despite $15 million sale of blue diamond. | | | | | Diamcor Sales Stall Amid Shift to Cheaper Rough | | Average price drops 45% in third quarter. | | | | | general | | | | WDC Welcomes New Executive Director | | Elodie Daguzan was previously head of communications and industry relations at Rubel & Ménasché. | | | | | China Demand Drives Swiss Watch Growth | | Retailers stocked up in anticipation of strong Lunar New Year sales. | | | | | Gem Symposium to Hold Synthetics Debate | | Sixth Mediterranean Gemmological & Jewelry Conference will take place in Thessaloniki, Greece. | | | | | Plumb Club Brings In New Marketing Director | | Michael O’Connor has worked for Frederick Goldman and Platinum Guild International. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global retail shares dropped amid fears about the effects of the coronavirus on consumer spending. Signet (-3.3%), Chow Tai Fook (-10%), Luk Fook (-8%), Swatch (-9%) and LVMH (-5%) all lost ground. Mining stocks also took a hit, with Lucapa (-19%), Petra (-11%), Rio Tinto (-8%) and Alrosa (-7%) falling. | | | | | 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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