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Rapaport TradeWire June 27, 2019

Jun 27, 2019 11:46 AM   By Rapaport
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Rapaport TradeWire
June 27, 2019

Sentiment weak amid ongoing liquidity concerns. Polished production reduced by estimated 30% in 2019 due to high inventory, sluggish demand and tight manufacturing profits. Recent rough-price cuts not enough to reboot the market. De Beers June sales slump 33% to $390M, 1H sales -18% to $2.4B. Quiet Hong Kong fair highlights show fatigue and cautious Far East demand as geopolitical tensions fuel economic uncertainty. Gold rallies +8% to $1,402 an ounce (June 1-27) as investors seek assets with store of value. Belgium May polished exports flat at $1.2B, rough imports -16% to $761M. India May polished exports -15% to $1.9B, rough imports -35% to $1B. Tara Jewels files bankruptcy.

Rapaport Banner 6 2019 Jewelers Mutual Jmss 600X160 Final
Weekly Monthly Y2Y
0.30 ct -0.10% -1.71% -17.22%
0.50 ct -0.10% -0.93% -6.98%
1.00 ct -0.32% -1.21% -5.03%
3.00 ct 0.03% -1.18% -14.93%
RAPI Yearly Graph
Trade Wire 600X160 April 2018
Market Reports
United States: Steady flow of memo calls, but jewelers not buying for stock...
Belgium: Sellers cautious about giving credit, and are offering better cash prices...
Israel: Suppliers to Far East lacking orders, with Hong Kong show doing little to boost sentiment...
India: Cutters despondent due to low profitability, even after rough-price reductions...
Hong Kong: Political protests and trade war affecting business, with Chinese buyers staying away...
Gia Tw Banner E 31 May 2018
Botswana Wants to Entice Surat-Based Cutters
Gold Rally Spurs Public to Sell Old Jewelry
Indian Banks Calling In Diamond Workers’ Personal Loans
Ring Brought to Kay for Resizing Gets Lost in Shipping
Tradewire Banner July 2019 Melee Single Stone
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Tara Jewels Files for Chapter 11
Company listed between $10 million and $50 million in liabilities.
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De Beers Cuts Prices as Rough Sales Slide
Pressure on manufacturers has hit demand.
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RJC Ready to Target Consumers
New CEO and chairman outline strategy.
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Peter Meeus to Advise WFDB on Synthetics
He will serve as an external consultant to the trade group.
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Engagement-Ring Spending Steady at $5K
Couples increasingly opting for alternative stones, survey says.
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Enchanted Diamonds Files for Bankruptcy
Move follows suspension of company’s Better Business Bureau A+ accreditation.
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Tom Brady to Represent IWC Schaffhausen
New England Patriots quarterback has a soft spot for watches.
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Gem Diamonds Unearths 135ct. Yellow
Recovery is third significant colored diamond company has found this year.
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De Beers Identifies New Kimberlite Indicator
Lherzolite could change the nature of diamond exploration.
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Botswana Proposes Lucara Investment
Owning part of the business would benefit the country, government says.
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Gemfields Exits Amethysts, Adds Gold
Company sells 50% interest in Kariba Minerals mine to focus on emeralds, rubies and sapphires.
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Slowdown Continues in India Diamond Sector
Exports have been declining year on year since November.
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Designer Mark Cohen Dies at 63
He co-ran J.J. Marco, a New York-based retailer and wholesaler.
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De Beers Rebrands Grading Unit
IIDGR will change its name to De Beers Group Industry Services.
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Belgium’s Rough Trade Slumps in May
Exports down 37% to $741.5 million.
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Diamond Industry Stock Report

Chow Tai Fook (+7%) led Hong Kong jewelers in a rare strong week for the municipality’s stock market. US retailers performed less positively, with J.C. Penney (-6%) recording the heaviest decline. Mining was mixed: Rio Tinto (+2.9%) and De Beers owner Anglo American (+2.2%) were the stronger stocks, while Firestone Diamonds (-7%) and Petra Diamonds (-6%) lost ground.

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Tradewire Square July 2019 Melee Single Stone
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