|
|
Rapaport Weekly Market Comment
Oct 24, 2019 11:03 AM
By Rapaport News
|
|
|
Indian companies filling
final orders ahead of Diwali. Manufacturing slowing before the festival with
factories closing until late November. Steady demand for select categories but
traders struggling to sell unwanted items. Markets quiet in Israel, Antwerp and
New York following Jewish holiday period. De Beers inventory up in 3Q due to
weak rough demand and despite production decline -14% to 7.4M cts. Miner
predicts elevated stock levels will last until 2020. Alrosa 3Q sales -37% to
$611M, output +15% to 12.1M cts. Jewelry business closures +27% to 286 in 3Q,
JBT reports. Signet launches synthetic diamonds at Kay and Jared. The Rapaport
Group wishes all our friends a happy Diwali.
Fancies: Fancy shapes
soft, reflecting slowdown in overall demand. High-end collection goods weak as
dealers and consumers shift to lower price points. Some brands with requests
for high qualities are paying a premium for rare items and very well-made
fancies. Ovals for fashion jewelry moving well in 1.50 and 2 ct., G-H, VS and H-K,
SI2. Marquises and Princesses weak despite reduced manufacturing. US sustaining
market for commercial-quality, medium-priced fancies under 1 ct. Chinese
consumers seeking fancy shapes at better prices. Off-make, poorly cut fancies
illiquid and hard to sell even at very deep discounts.
Rapaport News will
resume publication of the country market comments next week.
|
|
|
|
|
|
|
|
|
|
Tags:
Rapaport News
|
|
|
|
|
|
|
|
|
|
|