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Rapaport TradeWire March 14, 2019
Mar 17, 2019 4:25 AM
By Rapaport
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| March 14, 2019 |
| RAPAPORT MARKET COMMENT |
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Market sentiment weak, with select categories seeing demand. Diamonds between 0.70 ct. and 1.99 ct. moving well, but large stones slow. Sluggish demand for goods under 0.50 ct., with manufacturers reducing production of that size. Rough market subdued. Alrosa Jan.-Feb. sales -40% to $627M. Belgium Feb. rough imports -28% to $621M, polished exports -3% to $1.2B. Gem Diamonds 2018 revenue +25% to $267M, profit +171% to $47M after record production of exceptional stones. Eurostar Diamond Traders close to bankruptcy amid $500M debts. Signet appoints Jamie Singleton president of merged Kay, Zales and Peoples leadership team.
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| RAPNET DIAMOND INDEX (RAPI™) |
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| Weekly | Monthly | Y2Y |
| 0.30 ct |
-0.30% |
-0.38% |
-9.25% |
| 0.50 ct |
-0.11% |
0.28% |
-2.76% |
| 1.00 ct |
0.13% |
0.49% |
-2.27% |
| 3.00 ct |
-0.09% |
-0.76% |
-6.83% |
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| 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. |
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| Market Reports |
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United States: Buyers insisting on discounts due to excess supply... |
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Belgium: Round, 1 ct. goods selling well, but less movement in 2 to 2.99 ct. range... |
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Israel: Polished production low amid weak market for rounds 3 ct. and larger in high colors and clarities... |
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India: Firms trading rough rather than manufacturing, creating shortages in certain melee categories... |
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Hong Kong: Activity dropping slightly as positive effects of Hong Kong show wear off and peak retail season ends... |
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| Time for the Trade to Reengage with Bridal |
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| WITH Avi Krawitz |
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Engagement-ring marketing has taken a back seat recently as the industry assesses how millennials relate to the product. The diamond trade must now reenergize the important bridal segment.
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| WEEKLY NEWS |
| industry |
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| Eurostar Diamond Traders Close to Bankruptcy |
| Antwerp court rejects manufacturer’s reorganization attempt. |
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| Newspaper Tracks Down Nirav Modi |
| Fugitive jeweler is running London diamond business, says The Telegraph. |
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| What Makes a Good Synthetics Detector? |
| The DPA’s review of devices raises questions about what to look for. |
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| Frederick Goldman Acquires Lab-Grown Brand |
| Love Earth collection includes bridal and fashion jewelry. |
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| retail |
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| Signet Hires New Financial Chief |
| Retailer also merges leadership teams for Kay, Zales and Peoples. |
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| Pandora Chairman Quits Amid Reshuffle |
| Peder Tuborgh exits a month after appointment of new CEO. |
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| US Retail Rebounds in January |
| Sales up 3.6% after weaker December data. |
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| mining |
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| Letšeng Pink Sells for Almost $9M |
| Per-carat price of $656,933 breaks company record. |
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| Alrosa Testing Payments in Euros |
| Move is preparation for potential US sanctions, Chinese report says. |
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| Weak Prices Keep Grib Sales Flat |
| Revenue steady at $300 million in 2018. |
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| Large Stones Boost Gem Diamonds Results |
| Sales and profit rise in record year for exceptional discoveries. |
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| Petra Unearths 101ct. Rough at Cullinan |
| Miner also finds blue diamond weighing 6.12 carats. |
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| general |
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| GJEPC Inaugurates $2B Jewelry Complex |
| Mumbai center will employ 100,000 workers when complete. |
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| MID Leads List of Top Israeli Exporters |
| Company’s shipments rose 12% to $196 million in 2018. |
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| Belgium Trade Declines in February |
| Country sees drop in rough and polished exports. |
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| FINANCE |
| Diamond Industry Stock Report |
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US retailers gained following positive January sales data, with J.C. Penney (+12%) and Signet (+6%) leading the sector. Pandora’s stock price (-4.5%) was volatile throughout the week as the company unveiled a plan to buy back investors’ shares, and its chairman announced he was leaving. A general rally in the Indian stock market boosted Asian Star (+8%) and PC Jeweller (+9%). Gem Diamonds (-8%) trailed mining equities after deciding not to pay a dividend to shareholders.
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