|
|
Rapaport TradeWire October 4, 2018
Oct 4, 2018 10:34 AM
By Rapaport
|
|
|
| October 4, 2018 | | RAPAPORT MARKET COMMENT |  | | Market sentiment cautious, with prices softening as 1 ct. RAPI -1.1% during quiet third quarter. Industry expecting stock-market wealth will boost holiday buying, as Dow hits new high of 26,951 (Oct. 3). Hong Kong jewelers hoping for rise in Chinese tourist spending during Golden Week. Indian dealers concerned hike in polished-diamond import duty from 5% to 7.5% will raise costs and reduce local demand. Sotheby’s HK garners $40M (65% by lot), with step-cut, 5 ct., fancy-vivid-blue, VS2 diamond ring selling for $13.8M ($2.8M/ct.). Bonhams sells 5.03 ct., fancy-pink, VS1 diamond for $2.9M ($583,551/ct.). India August polished exports +20% to $2.2B, rough imports -11% to $783M. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.59% | -2.14% | 6.10% | | 0.50 ct | -0.41% | -0.97% | 3.77% | | 1.00 ct | -0.12% | -0.69% | 1.04% | | 3.00 ct | 0.62% | 0.52% | 0.08% |  | | 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: Expectations rising for holiday sales, since consumer confidence hit 18-year high in September, according to the Conference Board... |  |  | Belgium: Rough sentiment mixed, with low, single-digit premiums on the secondary market... | | |  | Israel: Dealers focused on US, with hope that orders will improve as the holiday season begins... | | |  | India: Small manufacturers not buying rough, and reducing polished production ahead of Diwali break, which begins November 7... | | |  | Hong Kong: Retailers hoping for boost from Chinese tourists during the ongoing Golden Week... | | |  | | | WEEKLY NEWS | | industry | | | | Diamond Prices Down Amid Asia Caution | | Trading at September Hong Kong show reflects weak currencies and US-China tensions. |  | | | Blue Diamond Sells for $14M at Sotheby’s | | Jewel fetches $2.8 million per carat in Hong Kong. | | | | | 5ct. Pink Sets World Record at Bonhams | | Diamond goes for $583,551 per carat in London. | | | | | India Hikes Diamond Import Tax | | Higher rate risks damaging domestic market, warns GJEPC. | | | | | Investors Call for Better Supply-Chain Checks | | More than 60 institutions raise concerns about child and forced labor in mining. | | | | | retail | | | | Pandora Launches First New Charm in 5 Years | | Customizable bracelet is flatter and sleeker than its existing designs. | | | | | Garrard Enters Beijing with High-End Store | | 100-square-meter branch features three VIP rooms. | | | | | mining | | | | Alrosa Garners $11M at Rough Auction | | Sale features 25 fancy-yellow diamonds. | | | | | Firestone Diamonds Slashes Annual Loss | | Miner records higher production and sales at Liqhobong. | | | | | general | | | | Sotheby’s to Auction More French Royal Jewels | | Collection includes tiara estimated at up to $550,000. | | | | | RJC to Align Code with OECD Rules | | Responsible Jewellery Council accepting feedback on changes until October 27. | | | | | US Polished Imports Increase | | Value rises 5% in July. | | | | | Higher Average Price Boosts India Exports | | Polished shipments up 20% in August. | | | | | GSI Opens Hong Kong Lab | | Branch will offer diamond grading and screening for undisclosed synthetics. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | US retail equities tumbled despite a record week for the Dow Jones Industrial Average. Shares in J.C. Penney (-15%) fell after it announced the departure of its chief financial officer. Amazon’s decision to raise its minimum wages put pressure on other retailers to follow suit, hitting share prices at Macy’s (-4.3%), Signet (-4.1%) and Tiffany (-3.7%). Concerns about the eurozone economy dented luxury stocks after Italy increased its budget-deficit target, with Kering (-4.7%), LVMH (-4.2%), Swatch Group (-3.5%) and Richemont (-1.5%) all down. | | | | | Contact Us |  |       | | © Copyright 2018 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|