Rapaport Weekly Market Comment

Sep 12, 2019 10:58 AM

Low expectations for next week’s Hong Kong show, with fewer suppliers and buyers attending due to ongoing demonstrations. Dealers hoping polished trading will improve as US holiday season approaches. Rapaport calls for $1B industry-wide marketing campaign for engagement rings, including $500M matching funds from mining companies. Signet 2Q bridal sales -4% to $560M, Tiffany engagement jewelry -3% to $277M. CIBJO urges jewelers to focus on environmentally conscious, gender-neutral Gen Z-ers (ages 15 to 25). Midstream inventory declined due to reduced manufacturing. Alrosa Aug. rough sales -36% to $180M. Rapaport announces first Estate Jewelry Auction, Nov. 3-7, in New York.

Fancies: Fancy shapes soft, reflecting slowdown in overall demand. 3 to 8 ct., I-K, VS-SI1 moving better than rounds as dealers and consumers shift to lower price points. Well-known brands are paying highest prices, as are buyers with specific requests. Ovals for fashion jewelry moving well, especially 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.

United States: New York wholesale market quiet. Dealers struggling to compete with Indian suppliers who are increasingly selling direct to retailers. Some diamantaires diversifying into niche segments such as estate jewelry to improve profit margins. Fashion jewelry growth stronger than bridal.

Belgium: Slightly better activity in both the rough and polished markets, with some demand for 0.30 to 1 ct., G-J, VS-SI, RapSpec A3+. Pointer-size fancy-yellow and fancy-intense-yellow stones also firmer. Buyers are selective and pushing for higher discounts as they sense suppliers’ need to raise liquidity and move inventory. Rough auctions stronger than last month, as manufacturers require goods for the US holiday season before the Diwali break.

Israel: Mixed sentiment. Some US demand ahead of the fourth-quarter selling season, but concerns remain about the Hong Kong fair. Fewer dealers traveling to the show. Stable interest in 0.50 to 1 ct., G-J, VS-SI, RapSpec A3+ goods. Faint and stronger fluorescent goods selling at notable discount to nonfluorescent. Dealers looking for buying opportunities following 2019 price declines.

India: Market for 0.30 to 0.40 ct. stabilizing due to lower production. Buyers looking to fill specific requests rather than build inventory. Fewer dealers than usual going to Hong Kong show due to ongoing protests and drop in Chinese wholesale demand. Suppliers focused on 0.30 to 1 ct., D-H, VS-SI goods. Manufacturers maintaining low polished production but starting to consider rough purchases before Diwali break, which begins on October 27.

Hong Kong: Political protests continue to impact wholesale and retail business. Hope for busier trading during next week’s show, but few expect successful fair compared to previous years. Stable demand for 0.30 to 1 ct., G-K, VS-SI1 diamonds, while buyers are pushing for deeper discounts on SI2-I1 goods. Chinese buyers cautious, even as consumer spending on mainland appears robust. Rising interest in colored gems amid shift to lower-budget jewelry.

Čítam medzi riadkami, že trh s diamantami je tento rok pekne v prdeli...

Asi vhodná doba na nákup?😉

Veľké spoločnosti sú na tom celkom slušne, stále majú rezervu.
Celková "klíma nepraje" nikto nevie odhadnúť detailnejšie situáciu vo svete...

Zasa pokiaľ niekto ma zaujímavý kameň a vie ako na to dá sa urobiť "všeličo"...😉

Hong Kong Fair Prioritizes Buyer Incentives

Roundup of news from Days 2 and 3 of the show

Sep 18, 2019 10:09 AM

The organizers of the September Hong Kong Jewellery & Gem Fair rejected the trade’s request for a discount, executives confirmed Wednesday.

The Hong Kong Jewelry Manufacturers’ Association (HKJMA) had asked Informa Markets for a 25% reduction in exhibitors’ fees due to the uncertainty arising from protests in the city. But the company chose instead to provide incentives for buyers to attend, such as funding 10,000 hotel rooms for exhibitors’ clients, executives at Informa explained.

“The amount of value [exhibitor can get from [those effort is far more than what they’d get from a discount,” Celine Lau, Informa’s director of jewelry fairs, told Rapaport News at the show. However, the company agreed not to erase exhibitors’ seniority status — the credits they receive for returning to the show year after year — if they skipped this week’s event because of the political situation, Lau noted.

Diamond trade associations in India, Israel and Belgium had lobbied Informa to postpone the show, but doing so would have been a negative move as the fair is a key event for sourcing goods ahead of the holiday season, she added.

“Missing the opportunity would mean the jewelry community missing the last chance for getting business,” Lau said. “We’re aware the incidents in Hong Kong affected confidence, but we’re very proud of the commitment of our business partners. We’ve received concerns about whether the show should go ahead as planned. We cannot afford to compensate the business losses of our exhibitors if we are not going to go ahead to make the show happen.”

The finished-jewelry exhibition opened Wednesday at the Hong Kong Convention and Exhibition Centre in the Wan Chai district, and runs until Sunday. The loose-diamond section of the fair began on Monday at AsiaWorld-Expo near the municipality’s airport, and will end on Friday.

Various organizations used the show platform to showcase new products and developments:

GIA upgrades synthetics screener

The GIA unveiled an upgrade to its iD100 testing machine that enables screening of pink diamonds for synthetics.

The device separates natural diamonds from lab-grown stones, simulants, and treated diamonds, said Wuyi Wang, the GIA’s vice president of research and development, in a presentation at the show Tuesday.

Customers can download the extension from the GIA’s online store for a fee, or obtain it preinstalled when they buy an iD100 device. The institute has also added a free update to the iD100 that enables screening of blue-to-green and brown diamonds, it said earlier this month.

Scientist recounts hunt for green diamonds

A gemologist from Liechtenstein went in search of green diamonds at museums to help expand the industry’s knowledge of the rare colored stones. The category is notoriously hard to learn about because the diamonds are so scarce.

Dr. Thomas Hainschwang and his team tested hundreds of specimens to find clues about how to separate diamonds with natural color from those that have been treated. The project took him to the Natural History Museum in Vienna, Austria, and its counterpart in London. He showcased his story and findings at the fair on Tuesday in an event organized by the Natural Color Diamond Association.

Museums are a reliable source of naturally colored diamonds if their collections predate modern treatments, explained Hainschwang, director and cofounder of GGTL Laboratories. They protect their exhibits closely, and would never allow a stone to leave the premises, so the chance of any treatment having occurred is essentially zero, he noted. In addition, many of the items he inspected came with original catalogs stating the provenance and other details of the diamonds.

His work also involved testing known treated diamonds, as well as performing treatments on stones to assess what happens to them.

Image: The registration hall at the finished-jewelry exhibition which opened at the Hong Kong Convention and Exhibition Centre on Wednesday (Informa Markets).

Obrázky:

Rapaport Weekly Market Comment

Sep 19, 2019 10:58 AM

Hong Kong show brings fewer visitors, but better-than-expected trading. Serious buyers attending. Fair reflects specific Chinese interest and shift to lower-color diamonds. Pockets of good demand, with shortages of nice (eye-clean) RapSpec A3+ SIs due to reduced manufacturing. Some small-scale Indian cutters closing early for Diwali. De Beers maintaining flexibility for next week’s sight, allowing 20% buybacks or 50% rejections. Petra Diamonds FY revenue -6% to $464M, loss of $258M vs. $203M loss in previous year. Focus shifting back to US ahead of 4Q season, with call for major marketing campaign to raise consumer demand. US specialist jewelers’ 1H sales -5% to $14.4B.

Fancies: Fancy shapes soft, reflecting slowdown in overall demand. 3 to 8 ct., I-K, VS-SI1 moving better than rounds as dealers and consumers shift to lower price points. Well-known brands are paying highest prices, as are buyers with specific requests. Ovals for fashion jewelry moving well, especially 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.

United States: Dealers looking for buying opportunities, but remain selective and price-sensitive. Retailers have yet to make significant orders for the holiday season and are concentrating on memo goods for now. Steady retail demand for 1 ct., G-J, VS2-I1 goods. Large stones above 3 ct. weak.

Belgium: Quiet trading, with dealers focused on the Hong Kong show. Buyers looking for deals, as they perceive suppliers are under pressure to raise liquidity. Stable market for 0.30 to 1 ct., G-H SIs. Emphasis on 3X, nonfluorescent goods (RapSpec A3+). Rough market slightly more optimistic ahead of next week’s De Beers sight than it was a month ago.

Israel: Slow activity in the bourse, since many are in Hong Kong and because it was a short week due to national elections. Shortages developing and prices firming for 0.50 to 1 ct., F-I, VS2-SI2 (3X, nonfluorescent) diamonds. Lesser qualities difficult to move. Shift to lower price points as jewelers compensate for higher gold price.

India: Fewer goods and buyers in the local market during the Hong Kong show. Dealers looking to fill specific orders, with very little inventory-buying. Volatile melee market seeing slight improvement in lower price ranges. Polished production still at reduced levels, with some small-scale manufacturers closing early for Diwali. Larger exporters preparing inventory as they anticipate US holiday orders.

Hong Kong: Trade focused on the show, which ends Sunday (September 22). Visitor traffic down from previous years due to demonstrations in the city. Subdued activity affecting smaller exhibitors more than large suppliers. Steady Chinese demand for 1 ct., F-K, VS-SI (RapSpec A3+) goods, with move toward lower colors. Muted expectations for retail sales during upcoming National Day (October 1), given the ongoing protests.

Financial Data
Metals
Gold 1,521.36 +16.9%
Silver 18.59 -0.0885%
Palladium 1,657.49 +6.055%
Platinum 956.55 -2.575%
Currencies
Euro 1.10 -0.36%
Pound 1.23 -0.25%
Yuan(¥) 0.14 -0.06%
Rupee(₹) 71.84 +0.05%

Rapaport Weekly Market Comment

Sep 26, 2019 10:58 AM

Hong Kong show signals shift to lower price points. Chinese dealers and consumers focused on domestic spending, with cautious Far East demand affecting sentiment. Steady interest in 0.30 to 1.99 ct., G-I, SI-I1, RapSpec A3+ diamonds, and reduced supply supporting price levels. 3 ct. and larger, D-F, VVS+ weak. Improved liquidity for inexpensive melee as Rapaport Melee Auction sells $6M (84% by value, 76% by lot). De Beers offers 30% buybacks at Sep. sight. India Aug. rough imports -4% to $861M. Rapaport offices will be closed on Monday and Tuesday (Sep. 30-Oct. 1) due to Rosh Hashanah. Best wishes to all for a happy, healthy, prosperous and peaceful Jewish New Year.

Fancies: Fancy shapes soft, reflecting slowdown in overall demand. 3 to 8 ct., I-K, VS-SI1 moving better than rounds as dealers and consumers shift to lower price points. Well-known brands are paying highest prices, as are buyers with specific requests. Ovals for fashion jewelry moving well, especially 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.

United States: Stable bridal demand ahead of peak engagement season. Retailers preparing inventories for holidays amid uncertain consumer sentiment due to trade war. Profit margins slim. Orders for D-F, IF-VVS goods down in all shapes and sizes. Better movement in 1 to 1.99 ct., G-H, VS-I2. Steady interest in cushions and ovals under 2 ct. Retailers preferring to take items on memo rather than purchasing.

Belgium: Sentiment subdued after slow Hong Kong show. Market expected to remain quiet during upcoming Jewish holiday period. Dealers concerned about exposure to the difficult Far East market. Steady demand for 0.30 to 0.70 ct., G-H, SI1-SI2 diamonds.

Israel: Polished market quiet. Smaller dealers fared better than larger companies at Hong Kong fair. Commercial and select SI goods moving. 3 ct. and larger, D-F, IF-VVS diamonds sluggish. Bourse to close next Monday and Tuesday for Rosh Hashanah.

India: Trade cautious, but sales improving in lower price categories. Dealers saw limited sales at Hong Kong show due to slower traffic and drop in Chinese demand. Decrease in supply supporting the market as manufacturers reduce polished output. More cutters entering lab-grown as they seek to improve profit margins and liquidity.

Hong Kong: Low expectations for Oct. 1 Golden Week as both tourist spending and Chinese demand have declined. Fewer visitors at Hong Kong fair due to protests and weak Far East jewelry sector. Some Chinese retailers gradually returning to market after long period without buying, as they anticipate sales over holiday season and Chinese New Year.

V roku 2015 vyťažený surový diamant o váhe 812,77ct. zakúpila spoločnosť Nemesis

Teraz Nemesis predstavila smaragdovo brúsený 313 ct. diamant na dubajskej diamantovej konferencii v Dubaji, celkove bolo vybrúsených 8 ks.

Pekný diamantík...

Obrázky:

Rapaport Weekly Market Comment

Oct 3, 2019 11:03 AM By Rapaport News

Trading quiet due to Chinese, Indian and Jewish holidays and weak market sentiment. Dealers cautious as fourth quarter begins. Jewelers limiting inventory purchases as shift to interactive digital shopping experience and omni-channel reduces their in-store stock requirements. Hong Kong retail sales slump as protests escalate during Oct. 1 Golden Week. Lower midstream inventory supporting polished prices. 1 ct. RAPI -0.3% in Sep. Large stones (3 ct.+) remain soft. De Beers restricting supply through flexible buyback policy at $295M Sep. sight. Richemont acquires Italian jeweler Buccellati. Rapaport offices will be closed on Wednesday, Oct. 9, due to Yom Kippur.

Fancies: Fancy shapes soft, reflecting slowdown in overall demand. 3 to 8 ct., I-K, VS-SI1 moving better than rounds as dealers and consumers shift to lower price points. Well-known brands are paying highest prices, as are buyers with specific requests. Ovals for fashion jewelry moving well, especially 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.

United States: Polished trading slow, with many businesses closed for Jewish New Year. Dealers focused on filling holiday demand. Retailers taking more goods on memo. Stable interest in 0.70 to 1.50 ct., G-H, VS-SI diamonds for the engagement-ring segment. Consumers shifting to lower-ticket items amid trade war uncertainty and stock market volatility. Good demand for estate and vintage jewelry.

Belgium: Market sluggish for this time of year. Dealers expect trading to pick up in coming weeks before India’s Diwali break. US orders improving.China demand cautious after weak Hong Kong show. Rough sentiment mixed, with auctions and tenders attracting stronger interest than sights.

Israel: Limited activity, with businesses shut for three days over Rosh Hashanah. Dealers focused on US, hoping demand will improve as the holiday season begins. Steady orders for 1 ct., G-J, VS2-I1, RapSpec A3+ diamonds. Big-stone traders concerned about continued weakness. Bourse launches third video in campaign to market natural diamonds as “one of a kind” (see video here).

India: Short week due to Gandhi Jayanti national holiday. Few foreign buyers in Mumbai. Prices of 0.30 to 0.40 ct., D-G, IF-VVS2 firming as inventory diminishes. Rough trading down. Manufacturers maintaining low production capacity ahead of Oct. 27 Diwali break.

Hong Kong: Protests rattling the market. Muted celebrations amid security warnings. Very low expectations for Golden Week retail sales, as tourists staying away. August sales of jewelry, watches, clocks and valuable gifts -47%, reflecting impact of demonstrations on inbound tourism and consumption. Luxury jewelers consider reducing Hong Kong exposure and expanding in mainland.