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Rapaport TradeWire October 17, 2019

Oct 17, 2019 9:00 AM   By Rapaport
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8 July 2018 Igi Tw Top Banner
Rapaport TradeWire
October 17, 2019
RAPAPORT MARKET COMMENT
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Markets quiet amid Jewish holidays with steady demand for RapSpec A3+ goods. Indian manufacturers delay Diwali shutdown to increase post-festival inventory. Trading slow at Bharat Diamond Week. Liquidity low while companies settle supplier bills and pay staff ahead of Diwali. Alrosa Sep. sales -24% to $259M, but small-stone demand recovering. Hong Kong protests hit luxury sector, with Chow Tai Fook 2Q retail sales -35% in Hong Kong and Macau, +4% in mainland China. De Beers launching Lightbox at Bloomingdale’s and Reeds Jewelers. David Kellie to succeed Jean-Marc Lieberherr as CEO of Diamond Producers Association. Rapaport offices will close Oct. 21-22 for Jewish holidays.

Trade Wire 600X160 April 2018
RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct 0.19% 0.75% -19.05%
0.50 ct -0.23% -0.22% -10.10%
1.00 ct -0.24% 0.25% -5.62%
3.00 ct 0.74% 0.22% -18.66%
RAPI Yearly Graph
15 Aug 2019 Gia Id 100 Machine Tw Banner
Diving into Diversity
WITH Deborah Yonick

The rewards of an inclusive workplace are far-reaching, and the diamond and jewelry world has made progress — but there’s still a long way to go.

UPS AND DOWNS
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Zimbabwe Aiming for Output of 11M Carats by 2023
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Sisters Run One of Few Female-Owned Polishing Firms
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Global Economic Tensions Dent Israel’s Polished Exports
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Jeweler Goes to Prison over US College Scam
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Trade Wire 15 Oct Jewelry Auction
WEEKLY NEWS
industry
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$14M Blue Diamond to Headline Christie’s Geneva
Auction will also feature several Art Deco pieces.
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Lab-Grown Sector Gears Up for Eco Audit
Six companies sign up for sustainability pilot program.
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CIBJO Publishes Ethics Recommendations
Report by Tiffany Stevens comes ahead of annual congress in Bahrain.
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Former Zales Vice Chairman Marvin Zale Dies
He led the family jeweler’s operations in New York.
retail
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US Consumer Spending Dips
Trade war may be denting sentiment, says National Retail Federation.
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Lightbox to Debut at Bloomingdale’s, Reeds
De Beers’ lab-grown brand was previously only available online and at pop-ups.
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Chow Tai Fook Sales Slump
Economic challenges and Hong Kong unrest affect performance across greater China.
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Costco Sells $220,000 Diamond Ring
Retail giant saw two big-ticket jewelry purchases in fiscal 2019.
mining
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Rio Tinto Output Falls Amid Lower Grades
Production drops 7% at Argyle and Diavik mines.
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Alrosa Sales Decline at Slower Rate
Small rough stones show most notable improvement, miner notes.
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Lucapa Tender Yields $10M
Lulo and Mothae mines see surge in output.
general
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DPA Chief Lieberherr Steps Down
Marketing executive David Kellie will take over as CEO.
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DEF Invests in Education on Three Continents
Grants will enable STEM, business and technical programs in India, Africa and Canada.
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Christie’s Hires West Coast Watch Expert
Michael Fossner, a fifth-generation specialist, trained in his father’s New York business.
Ra 19310 112 Tradewire Banner October Single Stone
FINANCE
Diamond Industry Stock Report
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Global retail stocks benefited from optimism stemming from positive trade talks between the US and China. Shares in Macy’s (+6%), Tiffany (+3.3%), J.C. Penney (+3.2%), Richemont (+7%), Kering (+5%) and Chow Tai Fook (+2.8%) all rose. Mining stocks did well, aside from Firestone (-23%), which fell following reports of a power outage at its Lesotho mine that could potentially affect production.

Rapnet Trade Wire
Rn Jewerly Phase 3 Banner 052219 300 X300Px Tw Static
Ra 19310 113 Tradewire Square October Single Stone
11 Jul 2018 Rap Ac Digital 300X300Px Static
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