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Rapaport TradeWire October 4, 2018

Oct 4, 2018 10:34 AM   By Rapaport
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Rapaport TradeWire
October 4, 2018
RAPAPORT MARKET COMMENT
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Market sentiment cautious, with prices softening as 1 ct. RAPI -1.1% during quiet third quarter. Industry expecting stock-market wealth will boost holiday buying, as Dow hits new high of 26,951 (Oct. 3). Hong Kong jewelers hoping for rise in Chinese tourist spending during Golden Week. Indian dealers concerned hike in polished-diamond import duty from 5% to 7.5% will raise costs and reduce local demand. Sotheby’s HK garners $40M (65% by lot), with step-cut, 5 ct., fancy-vivid-blue, VS2 diamond ring selling for $13.8M ($2.8M/ct.). Bonhams sells 5.03 ct., fancy-pink, VS1 diamond for $2.9M ($583,551/ct.). India August polished exports +20% to $2.2B, rough imports -11% to $783M.

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RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct -0.59% -2.14% 6.10%
0.50 ct -0.41% -0.97% 3.77%
1.00 ct -0.12% -0.69% 1.04%
3.00 ct 0.62% 0.52% 0.08%
RAPI Yearly Graph
Usny Tw 600X160 19 Jul 2018 General
Market Reports
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United States: Expectations rising for holiday sales, since consumer confidence hit 18-year high in September, according to the Conference Board...
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Belgium: Rough sentiment mixed, with low, single-digit premiums on the secondary market...
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Israel: Dealers focused on US, with hope that orders will improve as the holiday season begins...
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India: Small manufacturers not buying rough, and reducing polished production ahead of Diwali break, which begins November 7...
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Hong Kong: Retailers hoping for boost from Chinese tourists during the ongoing Golden Week...
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Trade Wire 600X160 April 2018
UPS AND DOWNS
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Signet Reaches Gender Parity on Its Board
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10 Most Iconic Designers of the 20th Century
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Apple Taking Bite Out of Holiday Jewelry Sales
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Irish Thief in Hospital After Swallowing Diamond Ring
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WEEKLY NEWS
industry
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Diamond Prices Down Amid Asia Caution
Trading at September Hong Kong show reflects weak currencies and US-China tensions.
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Blue Diamond Sells for $14M at Sotheby’s
Jewel fetches $2.8 million per carat in Hong Kong.
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5ct. Pink Sets World Record at Bonhams
Diamond goes for $583,551 per carat in London.
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India Hikes Diamond Import Tax
Higher rate risks damaging domestic market, warns GJEPC.
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Investors Call for Better Supply-Chain Checks
More than 60 institutions raise concerns about child and forced labor in mining.
retail
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Pandora Launches First New Charm in 5 Years
Customizable bracelet is flatter and sleeker than its existing designs.
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Garrard Enters Beijing with High-End Store
100-square-meter branch features three VIP rooms.
mining
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Alrosa Garners $11M at Rough Auction
Sale features 25 fancy-yellow diamonds.
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Firestone Diamonds Slashes Annual Loss
Miner records higher production and sales at Liqhobong.
general
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Sotheby’s to Auction More French Royal Jewels
Collection includes tiara estimated at up to $550,000.
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RJC to Align Code with OECD Rules
Responsible Jewellery Council accepting feedback on changes until October 27.
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US Polished Imports Increase
Value rises 5% in July.
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Higher Average Price Boosts India Exports
Polished shipments up 20% in August.
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GSI Opens Hong Kong Lab
Branch will offer diamond grading and screening for undisclosed synthetics.
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FINANCE
Diamond Industry Stock Report
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US retail equities tumbled despite a record week for the Dow Jones Industrial Average. Shares in J.C. Penney (-15%) fell after it announced the departure of its chief financial officer. Amazon’s decision to raise its minimum wages put pressure on other retailers to follow suit, hitting share prices at Macy’s (-4.3%), Signet (-4.1%) and Tiffany (-3.7%). Concerns about the eurozone economy dented luxury stocks after Italy increased its budget-deficit target, with Kering (-4.7%), LVMH (-4.2%), Swatch Group (-3.5%) and Richemont (-1.5%) all down. 

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