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Rapaport TradeWire October 31, 2019
Oct 31, 2019 11:35 AM
By Rapaport
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October 31, 2019 | RAPAPORT MARKET COMMENT | | Polished trading improving as jewelers prepare holiday inventory. US demand supporting the market. China cautious due to trade war and Hong Kong unrest. Luk Fook 2Q same-store sales -37%. Indian dealers and manufacturers on Diwali vacation. Specific demand creating high inventory of less popular qualities. De Beers 2018 global market estimate finds rough sales +3% to $16.9B, production volume -3% to 154M cts. and value +2% to $17.4B, polished demand +2% to $25.3B, diamond-jewelry demand +2% to $76B. Insight Report outlines changing attitudes toward love and their impact on the industry. LVMH makes $14.5B offer to acquire Tiffany & Co. | | RAPNET DIAMOND INDEX (RAPI™) | | | Weekly | Monthly | Y2Y | 0.30 ct | 0.81% | 1.43% | -17.50% | 0.50 ct | 0.24% | 0.41% | -9.14% | 1.00 ct | 0.09% | -0.29% | -5.50% | 3.00 ct | -0.52% | -0.25% | -18.51% | | 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: Jewelry retailers starting to implement holiday sales strategies... | | | Belgium: Pears and ovals are strongest fancy shapes... | | | Israel: Foreign buyers looking for goods in Ramat Gan while Indian dealers are on vacation... | | | India: Market quiet with businesses closed for Diwali break, which began October 27... | | | Hong Kong: Retailers under pressure due to political climate and seeing steep declines in Hong Kong sales... | | | | Diamond Manufacturers Must Brace for Automation | | WITH Avi Krawitz | The industry is undergoing a revolution as artificial intelligence rapidly gains traction in mining, manufacturing and grading. The Rapaport Research Report explores. | | | WEEKLY NEWS | industry | | More Brides Buying Their Own Engagement Rings | De Beers Diamond Insight Report focuses on evolving nature of love relationships. | | | Private-Collection Jewels to Lead Christie’s Sale | Ruby, emerald and diamond brooch expected to fetch up to $5.5 million in New York. | | | Delgatto Diamond Fund Gets $100M Injection | Investment will help it increase credit to the industry. | | | DPA Creates New Public-Affairs Role | Raluca Anghel will oversee interactions with trade bodies. | | | retail | | LVMH Proposes Tiffany Takeover | Offer values US jeweler at $14.5 billion. | | | Kering Notes Strong Quarter for Jewelry | Its Boucheron, Pomellato and DoDo brands performed well. | | | Hong Kong Protests Hit Luk Fook | Same-store sales in municipality fall 39% in July to September as tourism slows. | | | Young Shoppers to Drive Rise in Holiday Spending | Consumers between 18 and 34 plan to expand their circle of gift recipients. | | | mining | | Higher-Grade Ore Boosts Lucapa Production | Quarterly output rises at Mothae and Lulo mines. | | | Petra Launches Artisanal Mining at South Africa Site | Koffiefontein initiative provides small-scale operators with tailings from main deposit. | | | Firestone Questions Future of Operations | Liqhobong owner struggling with mounting debt and lower rough prices. | | | Alrosa Finds Its Largest Diamond in Three Years | 232.4-carat stone from Udachnaya pipe has a yellowish hue and several chips. | | | Letšeng Yields 161ct. Rough | Stone is eighth over 100 carats Gem Diamonds has recovered this year. | | | general | | US Diamond Shipments Drop in August | Polished imports slump 25%. | | | De Beers to Provide Lab-Grown Testing for Circa | Miner will authenticate secondhand luxury retailer’s jewelry and offer educational courses for its customers. | | | GIA Hires Mark Buntz as Marketing Chief | Former golf-company executive succeeds Kathryn Kimmel, who retired in August. | | | Sotheby’s Names New CEO Following Takeover | Charles Stewart was previously CFO at Patrick Drahi’s Altice USA. | | | | FINANCE | Diamond Industry Stock Report | | Tiffany (+34%) jumped following news LVMH wanted to purchase it. Other US retailers dropped, including J.C. Penney (-5%) and Macy’s (-4%). Kering (+7%) rose after reporting strong third-quarter sales, while Richemont (+5%) also gained. Miners continued to struggle, with Firestone (-15%) falling following poor quarterly results, and Gem Diamonds (-7%), Lucara (-3%) and Mountain Province (-2%) all slipping. There were increases for Alrosa (+5%), which recovered a 232-carat rough, and Petra (+17%). | | | 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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