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Rapaport TradeWire October 3, 2019
Oct 3, 2019 11:15 AM
By Rapaport
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October 3, 2019 | RAPAPORT MARKET COMMENT | | Trading quiet due to Chinese, Indian and Jewish holidays and weak market sentiment. Dealers cautious as fourth quarter begins. Jewelers limiting inventory purchases as shift to interactive digital shopping experience and omni-channel reduces their in-store stock requirements. Hong Kong retail sales slump as protests escalate during Oct. 1 Golden Week. Lower midstream inventory supporting polished prices. 1 ct. RAPI -0.3% in Sep. Large stones (3 ct.+) remain soft. De Beers restricting supply through flexible buyback policy at $295M Sep. sight. Richemont acquires Italian jeweler Buccellati. Rapaport offices will be closed on Wednesday, Oct. 9, due to Yom Kippur. | | RAPNET DIAMOND INDEX (RAPI™) | | | Weekly | Monthly | Y2Y | 0.30 ct | 0.06% | 0.20% | -19.77% | 0.50 ct | -0.23% | -0.45% | -9.97% | 1.00 ct | 0.20% | -0.21% | -5.73% | 3.00 ct | -0.28% | -0.82% | -19.75% | | 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: Consumers shifting to lower-ticket items amid trade war uncertainty and stock market volatility... | | | Belgium: Rough sentiment mixed, with auctions and tenders attracting stronger interest than sights... | | | Israel: Dealers focused on US, hoping demand will improve as the holiday season begins... | | | India: Manufacturers maintaining low production capacity ahead of Oct. 27 Diwali break... | | | Hong Kong: Very low expectations for Golden Week retail sales, as tourists staying away... | | | | WEEKLY NEWS | industry | | De Beers Sales Drop in Weak Rough Market | Proceeds fall 39% in September cycle. | | | WDC Warns Against Smuggled CAR Diamonds | Rough from outside the country’s KP-approved zones is supporting criminal gangs, Stéphane Fischler says. | | | retail | | UBS Predicts Drop in Diamond-Jewelry Sales | US stock volatility likely to affect demand, bank cautions. | | | Hong Kong Retail Falls to Record Low | Protests disrupt inbound tourism, denting consumption. | | | Richemont Acquires Italian Jeweler Buccellati | Cartier and Van Cleef & Arpels owner purchases company from Gangtai Group. | | | mining | | US Bans Import of Zimbabwe Diamonds | Marange stones mined using forced labor, says Customs and Border Protection. | | | De Beers Hires New Auctions Exec | Alastair Bickerstaff will help the company market in a more targeted fashion. | | | Karowe Yields Rare Blue and Pink Diamonds | Lucara recovers stones from mine’s high-value south lobe. | | | general | | Van Cleef Ring Smashes Estimate at Bonhams | Blue diamond fetches $2.5 million at New York Jewels auction. | | | India’s Polished Trade Declines | Average export price drops to two-year low in August. | | | JVC Launches Diamond-Supply-Chain Kit | Tool includes breakdown of exact wording retailers can use when advertising, as per FTC guidelines. | | | | FINANCE | Diamond Industry Stock Report | | Global shares fell this week amid economic uncertainty. Kering (-6%), Richemont (-6%) and LVMH (-4%) headed the declines in European stocks as Brexit concerns persisted and the World Trade Organization approved US tariffs on the continent’s goods. In the US, disappointing manufacturing data increased investors’ fears, with Macy’s (-6%), Signet (-5%) and Tiffany (-4%) all falling. Mining stocks were also weak performers: Firestone (-31%), Petra (-13%), Lucapa (-7%) and Lucara (-6%) all slid. | | | 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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