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Rapaport TradeWire January 17, 2019

Jan 17, 2019 11:30 AM   By Rapaport
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8 July 2018 Igi Tw Top Banner
Rapaport TradeWire
January 17, 2019
RAPAPORT MARKET COMMENT
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Trading relatively quiet as jewelers begin restocking after holiday season. Top-tier independents and luxury retailers outpacing large jewelry chains: Signet Jewelers Nov./Dec. sales -3% to $1.8B, Richemont’s Cartier and Van Cleef & Arpels 3Q revenue +9% to $2.3B, Forevermark 2018 US sales +8%. Cautious outlook for Chinese New Year as Chow Tai Fook 3Q same-store sales -7% in China, -6% in Hong Kong/Macau. India trade uncertain due to tightening bank credit, slim profit margins, and excess inventory of unwanted lower-quality polished. Rough prices and supply expected to be steady at next week’s De Beers sight. India 2018 polished exports +6% to $24.4B, rough imports -9% to $16.9B.

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RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct -0.40% -1.85% -2.63%
0.50 ct -0.37% -1.63% 0.94%
1.00 ct -0.26% -1.14% -1.08%
3.00 ct -0.84% -3.34% -6.05%
RAPI Yearly Graph
Trade Wire 600X160 April 2018
Market Reports
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United States: Buyers remain price-sensitive and selective while looking for goods to replenish reduced inventory levels...
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Belgium: Big-stone dealers doing well, with improving demand for large fancy shapes...
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Israel: Suppliers hoping bourse’s International Diamond Week (Jan. 28 to 30) and the Hong Kong show (Feb. 28) will boost trade...
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India: Domestic demand steady as jewelers push bridal during ongoing wedding season...
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Hong Kong: Retailers concerned cautious economic outlook will affect consumer sentiment...
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WEBINAR: WHAT’S INFLUENCING POLISHED PRICES
WITH Avi Krawitz

In the third of our quarterly webinars, taking place next week, Rapaport Senior Analyst Avi Krawitz will provide insight into market trends based on data published in the Rapaport Research Report. Avi will discuss three things affecting polished prices: Trade negotiations between the US and China, tighter bank credit in India, and supply factors. 

UPS AND DOWNS
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Zimbabwe Invests $32M in Diamond Exploration
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Endiama Aims to Be One of World’s Top Producers
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Job Security an Issue for Surat Polishing Industry
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Chinese Slowdown to Affect Swiss Watch Trade
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WEEKLY NEWS
retail
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Signet Holiday Revenues Disappoint
Sales down 2.5% as longstanding collections underperform.
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Forevermark US Sales Increased in 2018
De Beers brand notes 8% growth for the year.
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China Drives Richemont Growth
Increase offsets weakness in Europe and Hong Kong.
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Chow Tai Fook Sales Dip on Economic Slowdown
Trade-war tensions and financial volatility have affected revenue in all markets.
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Michael Hill Sees Improved Holiday Results
New marketing strategy pays off during Christmas period.
industry
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Synthetics Threat Will Grow, Says ABN Amro
The sector will take off in 2019 and 2020, bank predicts.
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Alrosa Sales Up in December
Manufacturers were seeking goods to replenish inventory.
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Ex-Dominion CEO to Launch Lab-Grown Venture
Patrick Evans’s company will produce stones above 1 carat, targeting the bridal market.
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India Cracks Down on Bankrupt Diamantaires
Major industry bodies could ban company owners who fail to clear debts.
mining
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Alrosa to Restart Zimbabwe Operations
Political tensions drove the miner out of the country in 2016.
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Lucapa Predicts Premium from Angola Reforms
First rough tender under new transparency rules will take place this month.
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High-Value Rough Lifts Mountain Province
Miner sold its entire production for 2018.
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Lucara Unearths 127ct. Diamond
Stone came from Karowe mine’s lucrative south lobe.
general
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CIBJO Issues Guide to Responsible Sourcing
New Blue Book recommends procedures for supply-chain due diligence.
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GEM Awards Honor Ex-Rolex USA Chief
Stewart Wicht picks up Lifetime Achievement accolade.
Rap Acad Trade Wire Banner 600 X160 Other Courses 112218 2 Digital V2
FINANCE
Diamond Industry Stock Report
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Signet (-29%) and Macy’s (-23%) headed the US retail declines following disappointing holiday sales results. Pandora (-7%) trailed European shares after Morgan Stanley reportedly lowered its price target for the stock. Investors also reacted cautiously to a sales-and-production report from Mountain Province (-10%) in an overall negative week for mining equities.

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Tradewire Square Melee Single Stone January 2019
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