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Rapaport TradeWire April 4, 2019
Apr 4, 2019 10:59 AM
By Rapaport
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| April 4, 2019 | | RAPAPORT MARKET COMMENT |  | | Polished market slow, with stable US demand supporting the trade. Dealers under pressure as polished prices continue to soften. 1 ct. RAPI -0.5% in 1Q. Rough-market sentiment weak amid reports De Beers is reducing 2019 supply. Manufacturers hoping reduced rough sales will ease liquidity concerns. Signet 2018 sales -0.1% to $6.3B, loss of $690M vs. profit of $486M. Chow Sang Sang 2018 revenue +13% to $2.4B, profit +15% to $129M. Tiffany and Forevermark shift marketing focus to bridal. Sotheby’s Hong Kong sells oval, 88.22 ct., D, FL diamond for $13.8M ($156,150/ct.). De Beers launches provenance program for “Diamonds from DTC.” GIA rebrands synthetics grading report as lab-grown. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.54% | -3.24% | -11.91% | | 0.50 ct | -0.15% | 0.02% | -2.90% | | 1.00 ct | -0.01% | -0.09% | -2.46% | | 3.00 ct | 0.56% | -1.39% | -8.10% |  | | 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: Jewelers’ 1Q sales improving following weak holiday season... |  |  | Belgium: Rough market cautious during De Beers sight... | | |  | Israel: Sluggish demand for 3 ct. and larger... | | |  | India: Buyers sensing midstream pressures and pushing for deeper discounts... | | |  | Hong Kong: Jewelers seeing shift to lower-priced diamonds in collections... | | |  | | | WEBINAR: THE WAY FORWARD IN A SLOW MARKET |  | | WITH Avi Krawitz | Rapaport Senior Analyst Avi Krawitz will provide insight into market trends based on data published in the Rapaport Research Report. The hour-long webinar, taking place later this month, will examine the recent holiday season, the state of the rough market, and the factors set to affect polished prices during the rest of 2019. |  | | | WEEKLY NEWS | | industry | | | | Profits Tight Amid Slow Diamond Trading | | Hong Kong and Basel shows fail to boost market in March. |  | | | FTC Issues Warnings to Synthetics Sellers | | Commission sends letters to eight companies whose marketing may be deceptive. | | | | | De Beers Closes Diamond-Reselling Unit | | Digital advancements have lessened the need for IIDV’s services. | | | | | GIA Aligns Lab-Grown Reports with FTC Standards | | New certificate will not use term “synthetic.” | | | | | 88ct. Oval Diamond Fetches $14M | | Private Japanese buyer names stone after his daughter. | | | | | US Trade Confident as Polished Imports Surge | | Rise in shipments in 2018 suggests dealers anticipating demand. | | | | | retail | | | | Weak Holidays Dampen Signet’s Year | | Revenue down 0.1% as fourth quarter disappoints. | | | | | Tiffany Debuts Engagement Campaign | | Video commercial features three couples sharing moments together. | | | | | Hong Kong Luxury Sales Fall in February | | Timing of Lunar New Year affected month’s figures. | | | | | Strong Gold Demand Boosts Chow Sang Sang | | Revenue up 13% in 2018. | | | | | Forevermark Launches Bridal Initiative | | Campaign is De Beers’ first in the category in nearly 20 years. | | | | | mining | | | | Petra Recovers 425ct. Diamond | | Stone came from Cullinan mine in South Africa. | | | | | De Beers Launches Provenance Program | | Relaxed source-disclosure rules began at this week’s sight. | | | | | Letšeng Mine Yields 134ct. Yellow | | Diamond follows discovery of 161-carat white stone. | | | | | CAR Invites De Beers and Alrosa to Mine Its Diamonds | | Offer is part of plan to overhaul sector to meet Kimberley Process standards. | | | | | Stornoway Loss Deepens Amid Renard Delays | | Issues with transition to underground mining contributed to deficit. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Retail shares improved this week as the easing of trade-war concerns drove a rise in global stock markets. Chow Sang Sang (+7%), Chow Tai Fook (+4.7%), Tiffany (+2.4%), Kering (+3%) and Richemont (+2.9%) all gained. Mining stocks continued their downward descent, with Stornoway Diamond (-43%), Lucara Diamond (-7%), Firestone Diamonds (-8%) and Gem Diamonds (-3.2%) all falling. | | | | | Contact Us |  |       | | © Copyright 2019 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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