Rapaport Weekly Market Comment
Diamond market positive despite slower-than-expected Hong Kong show. China outlook optimistic, with some uncertainty over unlimited Xi Jinping rule. Government relaxing anti-corruption measures, and consumers more confident about displaying wealth. Chinese female self-purchases rising. Hong Kong jewelry and watch sales +10% to $1B in Jan. Diamond buyers adapting to higher polished-price levels, with 1 ct. RAPI +0.7% in Feb. Manufacturers’ profit margins tighter, with higher rough prices at $555M De Beers sight. Alrosa sells $541M in Feb. Rough trading steady; boxes selling at around 5% premiums. Belgium Feb. polished exports -6% to $1.3B, rough imports -5% to $866M.
Fancies: Fancy shapes mixed, with curves better than squares. Ovals hot, Marquises strong, followed by Pears and Cushions. Emeralds and Radiants fair, Princesses still weak. Oversizes selling well. Steady demand for fine-quality 6 to 10 ct. Ovals, Pears and Emeralds, with limited supply. US supporting market for commercial-quality, medium-priced fancies under 1 ct. Far East demand improving as consumers seek fancy shapes at better prices. Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts.
United States: New York trading stable. Dealers eyeing trends at Hong Kong show, maintaining firm prices. Good demand for 1 ct., G-J, VS-SI diamonds. A lot of fancy color diamonds available. Cushions improving. Jewelers focused on engagement and bridal collections.
Belgium: Antwerp quiet, after many dealers traveled to the Hong Kong show. Some US and European buyers looking for goods; collection VVS diamonds doing well.Solid dealer demand for GIA dossiers. Rough market strong, with relatively large volume of Alrosa goods available.
Israel: Stable market, with robust dealer trading at Hong Kong show. Suppliers disappointed with Chinese retail turnout. Positive demand for 1 ct., F-H, VS1-VS2 diamonds. Low colors (K-M) selling well. Steady European interest in high-end goods, but IF weak.
India: Mumbai trading slow with Hong Kong show drawing focus. Large suppliers holding prices firm. Good market for dossiers and 1 ct., G-H, VS-SI diamonds. Stars and melee improving. Banks more cautious in lending to the trade following Nirav Modi-Gitanjali Gems fraud case. Tighter credit and higher rough prices lead to liquidity concerns.
Hong Kong: Positive sentiment at show, with fewer but more serious buyers attending. Big Hong Kong brands looking for goods and expanding retail footprint. Jewelers still assessing Chinese New Year sales and are expected to restock in coming months. Steady demand for 0.30 to 1 ct., D-J, VS-SI (3X, no-fluorescence) stones. Fancy color diamonds also selling well.
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Ne bude, ale budou. Rozdělí ho na více částí. Je škoda, že tyhle rekordní se nebrousí jako jeden kus. Třeba ústecký kraj ho mohl koupit, vybrousit a vystavit v muzeu. Za desetinu rozkradených dotací, nebo za 1 most přes Labe. Nebo za 1 sesuv na dálnici, kterému se dalo předejít. A "ušetřit" tak peníze na koupi. A Rovensku pod Troskami je brusírna diamantů.
Rapaport Weekly Market Comment
Mar 15, 2018 11:00 AM By Rapaport News
Polished trading slower than expected after Hong Kong show. Shortages supporting prices as manufacturers ramp up polished production. Good demand for dossiers. Lower colors hot in carat sizes. China outlook positive, but Jan.-Feb. retail sales +9.7%, slightly below expectations. Signet Jewelers investing in online and off-mall to restore growth, as shares tumble -20% after FY2018 sales -2% to $6.3B, profit -4% to $519M. Gem Diamonds 2017 revenue +27% to $214M, profit of $21M vs. $140M loss, sells 910 ct., D, type IIa Lesotho Legend for $40M ($43,956/ct.). US Feb. polished imports +3% to $1.8B, polished exports +22% to $1.5B.
Fancies: Fancy shapes mixed, with curves better than squares. Ovals hot, Marquises strong, followed by Pears and Cushions. Emeralds and Radiants fair, Princesses still weak. Oversizes selling well. Steady demand for fine-quality 6 to 10 ct. Ovals, Pears and Emeralds, with limited supply. US supporting market for commercial-quality, medium-priced fancies under 1 ct. Far East demand improving as consumers seek fancy shapes at better prices. Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts.
United States: Dealers optimistic, with steady post-holiday orders. Good demand for 1 ct., G-J, VS-SI diamonds. Curved fancy shapes continue to improve, with strong interest in cushion, modified-brilliant, 1.5 to 2.5 ct. goods. JA show quiet, shifting focus to independent designers and lower-quality jewelry.
Belgium: Slower market. Dealers busy with follow-up after Hong Kong show. Pointer sizes driving demand, with shortages of nice-makes (3X, no-fluorescence) supporting prices. 1 to 2 ct., H-K, VS-SI GIA stones also selling well. Stable rough trading during monthly Alrosa sale.
Israel: Polished trading quiet, with fewer dealers in the bourse. Many traveling to the US to sell, but buyers cautious. Good demand for nice SIs. 3X selling at significant premium to VG. Large stones selling well, spurring demand for “specials” at rough tenders.
India: Polished market relatively slow. Dealers trying to boost sales before financial year’s end on March 31, offering higher discounts for hard-to-move merchandise. Firm prices for new production, particularly 0.30 to 0.50 ct., G-J, VS-SI (3X, no-fluorescence) GIA dossiers. Manufacturing stable after strong rough buying in Jan.-Feb. Liquidity concerns as banks tighten credit to large manufacturers following alleged Nirav Modi-Gitanjali fraud.
Hong Kong: Positive mood, even withtrading calmer since the show. Shortage of good-quality VS2-SI2 stones. Shift in demand to lower K-M colors. 3 ct.+ diamonds also selling well. Retail sales steady following Chinese New Year season.
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Rapaport Weekly Market Comment
Mar 22, 2018 11:00 AM By Rapaport News.
Market quiet after positive first quarter. Indian manufacturers facing liquidity squeeze as banks tighten credit after $2B Nirav Modi-Gitanjali fraud. Dealers still optimistic, with good US and China orders. Large independent jewelers doing better than majors as Signet and Tiffany announce turnaround strategies. Tiffany 4Q sales +9% to $1.3B, disappointing profit -61% to $62M. Smaller and shorter Basel show lacks big-stone buzz, with many diamond companies not attending. Swiss watch recovery continues as Feb. exports +13% to $1.8B. Rough market stable. Alrosa 2017 revenue -12% to $4.7B, profit -41% to $1.4B. India Feb. polished exports +1% to $2.4B, rough imports +11% to $1.7B.
Fancies: Fancy shapes mixed, with curves better than squares. Ovals hot, Marquises strong, followed by Pears and Cushions. Emeralds and Radiants fair, Princesses still weak. Oversizes selling well. Steady demand for fine-quality 6 to 10 ct. Ovals, Pears and Emeralds, with limited supply. US supporting market for commercial-quality, medium-priced fancies under 1 ct. Far East demand improving as consumers seek fancy shapes at better prices. Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts.
United States: Positive retail sentiment, with independents noting steady store traffic and sales. Bridal strong ahead of summer wedding season. Diamond market stable, but heavy snowstorms limit New York trading. Good demand for 1 ct., G-J, VS-SI diamonds. New York Diamond Dealers Club hosts Chinese delegation to boost trading with Shanghai Diamond Exchange.
Belgium: Quiet market, with fewer foreign buyers in Antwerp. Dealers satisfied with first-quarter sales, anticipating slowdown after Hong Kong show. Steady demand and firm prices for 1 to 2 ct., G-J, VS-SI, 3X to 3VG stones. D- to F-colors hard to sell. Rough trading stable.
Israel: Polished trading slow, with little appetite for goods. Dealers slipping into vacation mode ahead of seven-day Passover holiday (March 31 to April 6). Prices remain steady. Shortage of 3 ct. and larger round and fancy shape diamonds. Large-stone demand solid, but fewer suppliers attending Basel show.
India: Large manufacturers cautious as banks adopt stricter lending terms following $2B Nirav Modi-Gitanjali fraud. Factories increasing production to fill polished shortages. Rough expensive after strong buying in first quarter. Long gap before April sight. Good demand for 0.30 to 1 ct., G-J, VS-SI diamonds. Stars and melee also selling well.
Hong Kong: Polished market quiet since the March show. Dealers unfazed by lull after positive Chinese New Year season. China’s gold, silver and jewelry sales +3% in Jan.-Feb. Improving interest in 1 to 3 ct., J-M, VS-SI diamonds. Better colors weaker in all sizes.
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Rapaport Weekly Market Comment
Mar 29, 2018 11:00 AM
Market slowing ahead of Passover and Easter. Recovery in watch industry lifts mood at Basel show, but event fails to raise diamond-dealer sentiment due to low attendance. Indian fraud cases increase concerns about credit. High rough prices reducing manufacturing profit, with polished factories working below full capacity. Asian demand up, with Chow Sang Sang 2017 sales +3% to $2.1B, profit +18% to $112M. New Alrosa guidelines urge rough clients to publicize stones’ Russian provenance. There will be no new Rapaport Price List on April 6 due to the Jewish holiday of Passover.
Fancies: Fancy shapes mixed, with curves better than squares. Ovals hot, Marquises strong, followed by Pears and Cushions. Emeralds and Radiants fair, Princesses still weak. Oversizes selling well. Steady demand for fine-quality 6 to 10 ct. Ovals, Pears and Emeralds, with limited supply. US supporting market for commercial-quality, medium-priced fancies under 1 ct. Far East demand improving as consumers seek fancy shapes at better prices. Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts.
United States: Wholesale trading slow, with dealers finding it expensive to replace goods. Demand centering on 1 to 2 ct., F-K, SI stones. US March consumer confidence down from February’s 18-year high as stock-market volatility raises concerns. Jewelers note weak retail market, though higher-end stores successfully selling nice 1 to 3 ct. diamonds in higher color and clarity.
Belgium: Trade improving, with solid interest in 0.30 to 0.40 ct., D-M, VVS-SI, and for 1 ct., D-F. Dossiers moving well. Mixed demand for larger goods, with 2 to 3 ct. stronger than 1.5 ct. and 4 to 5 ct. Hike in India import tax raises concerns for Belgian traders. Smaller Basel show fails to boost dealer sentiment.
Israel: Market slowing ahead of seven-day Passover holiday (March 31 to April 6). Sentiment weak after disappointing Basel show. 3 ct. and larger in short supply, with buyers reluctant to meet dealers’ high asking prices. Shortages of nice Emeralds, Pears and Ovals. Hot demand for round, 0.23 to 0.27 ct. stones due to specific orders from retailers. Fancy shape, F-I, VS2-SI2 and select I1 diamonds popular.
India: Market uncertain following Nirav Modi-Gitanjali fraud claims, with traders fearing impact on bank credit. Companies delaying purchases until after financial year’s end (March 31). Buyers seeking nicely cut goods with low color and clarity. Strong interest in 1 to 3 ct., I1-I2 goods, and for diamonds under 1 ct., VS1-VS2, no black center. Fair demand for stars and melee in G-I, VS-I1. Polished manufacturing at 70% to 80% capacity as firms limit rough buying due to high prices.
Hong Kong: Positive mood as retailers anticipate good year ahead. Strengthening yuan currency has lifted Chinese spending power, resulting in better consumer sentiment and increased tourism to Hong Kong. High end strong, with steady demand for nicer-quality 1 to 2 ct., IF-VVS stones. Growing interest in 2 ct., J-M. Fancy colors gaining popularity. Hearts selling well, and orders of half-moon cuts rising.
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Rapaport Weekly Market Comment
Apr 12, 2018 11:00 AM By Rapaport News
Optimistic mood as trading resumes after spring break. Polished prices stable, with 1 ct. RAPI -0.1% in March. Chinese dealers buying stock ahead of potential yuan devaluation that may raise local prices if China-US trade war emerges. European high-end market mixed, with large luxury houses doing better than smaller niche players: LVMH 1Q jewelry & watch sales +9% to $1.2B; De Grisogono to cut around 40 jobs in strategic shift to affordable fine jewelry & watches. Sotheby’s Hong Kong sells $49M (61% by lot), but emerald-cut, 14.18 ct., fancy blue, VVS2 diamond ring remains unsold. Alrosa March sales -1% to $560M. Hong Kong 2017 polished imports +9% to $18.9B, exports +5% to $14B.
Fancies: Fancy shapes mixed, with curves better than squares. Ovals hot, Marquises strong, followed by Pears and Cushions. Emeralds and Radiants fair, Princesses still weak. Oversizes selling well. Steady demand for fine-quality 6 to 10 ct. Ovals, Pears and Emeralds, with limited supply. US supporting market for commercial-quality, medium-priced fancies under 1 ct. Far East demand improving as consumers seek fancy shapes at better prices. Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts.
United States: New York trading quiet after Passover holiday. Little urgency to sell, and suppliers not prepared to reduce prices after good 1Q. Dealers optimistic for 2Q, with focus on Las Vegas shows. Solid demand for 1 ct., G-H, VS2-I2 diamonds. Growth-minded retailers investing in e-commerce, better distribution and innovation in effort to drive customers to stores.
Belgium: Positive sentiment after Easter break, although trading still subdued. Prices steady for commercial goods, with consistent demand for 1 to 2 ct., H+, VS-SI diamonds. Lower colors improving. Rough trading stable during De Beers sight, with boxes selling on the secondary market at slightly lower premiums.
Israel: Slow trading as dealers return from Passover vacation. Demand centering around 0.30 to 1.49 ct., G-J, VS2-SI range. Large-stone orders quiet. Dealers focused on US market, with rising expectations for upcoming Las Vegas shows. Steady interest in special-size rough.
India: US and Asian buuyers driving activity. Good demand for 0.30 to 0.60 ct. and 1 ct., J-M, I1-I2 diamonds. Manufacturers with sizable credit lines facing greater scrutiny from banks amid concern large companies may reduce prices to raise liquidity. Trading expected to improve during Bharat Diamond Week (April 23 to 25).
Hong Kong: Slight slowdown since last month’s show, but business still better than a year ago. Dossiers moving well. Steady orders for 2 to 3 ct. in lower I-M colors. Stronger tourist spending and improved job market lift retail sentiment in 2018. Chinese yuan depreciation may reduce tourist shopping.
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Rapaport Weekly Market Comment
Apr 18, 2018 11:00 AM By Rapaport News
Sentiment mixed as April trading slows. Manufacturers concerned about tight profit after De Beers raised prices average 1% to 2% at $520M sight. Indian liquidity squeezed as banks reexamine diamond loans. Rough prices supported by limited 2Q availability. De Beers increasing supply to southern Africa beneficiation centers. Rising expectations for US demand ahead of Las Vegas shows. Chinese retail improves with solid Lunar New Year season. Chow Tai Fook 4Q sales +13% in China, +11% in Hong Kong & Macau. Rio Tinto 1Q production +11% to 4.6M cts. Rosy Blue buys stake in Leo Schachter.
Fancies: Fancy shapes mixed, with curves better than squares. Ovals hot, Marquises strong, followed by Pears and Cushions. Emeralds and Radiants fair, Princesses still weak. Oversizes selling well. Steady demand for fine-quality 6 to 10 ct. Ovals, Pears and Emeralds, with limited supply. US supporting market for commercial-quality, medium-priced fancies under 1 ct. Far East demand improving as consumers seek fancy shapes at better prices. Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts.
United States: New York activity improves as Diamond Dealers Club (DDC) hosts Israel Diamond Week at new trading floor. Strong retail promotions ahead of Mother’s Day (May 13). Major jewelers taking more goods on memo.
Belgium: Positive sentiment with stable polished prices, despite lower trading volumes. Dealers optimistic about the US and China. Europe slightly cautious. Rough trading steady during De Beers sight, with premiums on boxes down to estimated 4% on average.
Israel: Slow trading as dealers take long weekend for Independence Day celebrations. Suppliers focused on US, with some traveling to New York for DDC event. Inventory levels dropped since beginning of the year.
India: Fewer transactions as suppliers hold prices firm, despite liquidity concerns. Activity expected to rise during next week’s Bharat Diamond Week (April 23 to 25). Select demand from overseas buyers. Smaller manufacturers planning to close for school summer holidays. Good gold jewelry demand for Akshaya Tritiya festival on April 18.
Hong Kong: Stable polished market, but activity seasonally slow. Strong availability of 0.30 to 0.50 ct., I-M, VS-SI goods. Chinese tourist spending improved in 2018. Major jewelers expanding store presence and seeing e-commerce growth.
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