Rapaport Weekly Market Comment

May 8, 2019 10:58 AM By Rapaport News

Dealers preparing for Las Vegas shows hoping steady US retail market will stimulate diamond trading. Rising expectations for GemGenève fair amid positive luxury demand. Good opportunities for high-end buyers after 3 to 5 ct. prices dropped significantly (3 ct. RAPI -6.1% since Jan. 1). Rough trading cautious with high auction prices and tight manufacturing profits. Sightholders anticipate stable prices and volumes at next week’s De Beers sight. India March polished exports -8% to $1.9B, rough imports -16% to $1.4B. Hong Kong 1Q polished imports -3% to $5B, polished exports +9% to $3.9B. Signet debuts synthetic diamonds on James Allen website.

Fancies: Fancy shapes stable, driven by US and European demand. Ovals for fashion jewelry moving well. Supply shortage supporting prices for Pears, with 1.50 ct. the strongest category. Radiants improving. Marquises and Princesses weak despite reduced manufacturing. Excellent-cut Ovals, Cushions, Pears and Emeralds doing nicely, with steady orders for fine-quality goods in 6 to 10 ct. Chinese consumers seeking fancy shapes at better prices. US sustaining market for commercial-quality, medium-priced fancies under 1 ct. Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts.

United States: Mixed mood among dealers as some categories sell better than others. Steady orders for bread-and-butter 1 ct., G-H, VS-SI diamonds for engagement rings. Top-quality large stones weak. Retailers pushing fashion jewelry amid strong expectations for Mother’s Day season. New JCK venue creating buzz as traders prepare for Las Vegas shows.

Belgium: Dealers getting better prices and profits by buying directly from manufacturers. Large volumes of old stock available and selling at deeper discounts. Buyers insisting on no fluorescence. Good demand for excellent-cut SIs. Rough activity cautious ahead of next week’s De Beers sight and Antwerp Rough Diamond Days (May 15 to 16).

Israel: Quiet trading during short week due to Memorial Day and Independence Day. Some movement in large stones at lower prices. Dealers traveling to GemGenève to assess high-end opportunities. Suppliers keeping stock low to reduce risk amid declining prices, weak economic sentiment and threat of synthetics. Solid demand for 0.70 to 1.99 ct., G-J, VS-SI goods.

India: Sentiment weak due to reduced bank credit and fewer orders than usual. Market dynamic driven by supply rather than demand. Manufacturers reducing capacity. Steady interest in 0.70 to 1.50 ct., G-J, SIs. Stable gold jewelry market for May 7 Akshaya Tritiya festival.

Hong Kong: Wholesale sector cautious amid renewed US tariff fears. Good dealer demand for 1 ct., D-H, VS-SI diamonds. Rise in tourist arrivals boosts May 1 Labor Day activity. China 1Q retail sales beat expectations. Hong Kong 1Q polished exports to China down 15% to $688M.

Hmmm ...🙄

RAPAPORT... Eurostar Diamond Traders, one of the biggest names in the Antwerp industry, has entered bankruptcy following a legal battle with its banks.

The Antwerp Corporate Court ruled Thursday in favor of that outcome. Eurostar plans to appeal the decision, according to the company’s chairman and founder, Kaushik Mehta.

“For Kaushik Mehta and Eurostar, this is a very disappointing day, which he still is appealing and fighting,” the diamond-manufacturing firm said in a statement to Rapaport News. Eurostar blamed its main lenders, ABN Amro and Standard Chartered, for being too aggressive in demanding repayment of debts. Both banks declined to comment.

The company owes an estimated $500 million, according to court-appointed administrator Alain Van den Cloot.

Petra Diamonds predala tento 424,89-karátový diamant firme Stargems Group / Choron za niečo menej ako 15 miliónov dolárov.

Dobrá kvalita.

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Rapaport Weekly Market Comment

May 16, 2019 10:58 AM

Rising expectations for Las Vegas shows. Good demand for 0.70 to 1.99 ct., G-J, VS-SI, RapSpec A3+. Other categories weak. Large-stone dealers cautious amid high-end slowdown. Christie’s Geneva garners $62M (87% by lot) as cushion, 118.05 ct., fancy yellow, VS2 diamond sells for $7.1M ($60,000/ct.). Sotheby’s Geneva fetches $42M (77% by lot) with 36.57 ct., D, FL going for $5M ($137,036/ct.). Rough prices stable at De Beers sight but tight Indian liquidity impacting demand. Alrosa April sales -21% to $319M. Letšeng 1Q average price -42% to $1,900/ct. Petra sells 425 ct., D, type II rough to Stargems and Choron for $15M. Industry mourns the passing of Leo Schachter and Sam Abram.

Fancies: Fancy shapes soft, reflecting slowdown in high-end demand. Inventory limited. Buyers with special inquiries and big brands paying strong prices. Dealers being squeezed by lack of goods and low profit margins. Ovals for fashion jewelry moving well, especially VS2-SI2. Pears, VS-clarity also steady. Demand for Radiants and Emeralds declined. 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: Slight improvement ahead of Las Vegas shows. Positive activity in 1.00 to 1.99 ct., G-J, VS-SI. Large stones weak, despite some interest from key buyers. More companies dealing in recycled goods as they offer better profit than newly manufactured diamonds. Retail sales steady after Mother’s Day with fashion jewelry the strongest segment.

Belgium: Sentiment improving for dealers in commercial-quality, 1 ct., G-I, VS-SI goods. Larger stones weak, especially D-F, IF-VVS pieces. More US jewelers carrying lab-grown collections, frustrating suppliers of natural diamonds. Buyers pushing for deeper discounts. Rough trading steady but lacking buzz during De Beers sight.

Israel: Trading stable as dealers prepare for Las Vegas shows. Polished suppliers concerned about synthetics threat, impact of trade war and struggling manufacturing sector. Dealers see India caution as reflection of sluggish global market. Soft demand for 0.30 to 0.69 ct., D-J, IF-VS. Steady US orders for 0.70 to 1.50 ct., G-J, VS-SI goods. Movement of 3 to 5 ct., D-G, IF-VS stones slow.

India: Cautious mood amid rumors more businesses closing. Dealer trading quiet with many extending their summer vacation due to slow orders. US and Israeli buyers in Mumbai looking for bargains before Las Vegas shows. Liquidity tight and cutters reducing production. Rough market stable, but manufacturing profit margins tight. Jewelers concentrating on gold rather than diamonds.

Hong Kong: Wholesale trading slow amid fears new US tariffs will impact Chinese diamond and jewelry exports. Weaker yuan (-3.5% to CNY 6.88/$1 in May) adding to export risk. Stable demand for 1.00 to 1.99 ct., G-M, VS-SI diamonds. Dealers shifting to lower colors. Retail sales mixed during May 1 and Mother’s Day holidays, with consumers seeing better investment in gold than diamond jewelry.

Rapaport Weekly Market Comment

May 23, 2019 10:58 AM

Dealers heading to Las Vegas with hope new JCK venue will create a buzz and stimulate trading. Market sentiment weak amid slow orders, tight liquidity and declining prices. Memo houses doing well. US retail positive, with fine jewelry a top category at J.C. Penney and Macy’s. Richemont FY jewelry sales at Cartier, Van Cleef & Arpels +10% to $7.9B. Diamond manufacturers’ profit squeezed as De Beers maintains steady prices at $415M May sight. Alrosa 1Q revenue -27% to $1.1B, profit -27% to $372M. Sarine 1Q sales -34% to $11M, net loss of $1.4M vs. profit of $3.1M. RapNet announces vote on listing synthetics. Rapaport to host annual Las Vegas conference on Sunday, June 2, at 8 a.m.

Fancies: Fancy shapes soft, reflecting slowdown in high-end demand. Inventory limited. Buyers with special inquiries and big brands paying strong prices. Dealers being squeezed by lack of goods and low profit margins. Ovals for fashion jewelry moving well, especially VS2-SI2. Pears with VS clarity also steady. Demand for Radiants and Emeralds declined. 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: Steady movement of goods even as discounts deepen. New York suppliers competing by offering cash prices and slight premiums for memo. Some shortages of top-quality 0.70 to 1.50 ct., G-J, VS-SI (3X, no-fluorescence) diamonds. Jewelers see good momentum for fashion and fine jewelry. Bridal and engagement rings stable for summer wedding season.

Belgium: Trading volumes below last years’ levels. Activity supported by US orders as dealers prepare for Las Vegas shows. Good interest in 1.00 to 1.50 ct., D-F, SIs. Weak demand for 3 to 5 ct. stones. Rough market cautious, with dealers selling De Beers boxes at average 1% to 2% premiums above list.

Israel: Mixed expectations for Las Vegas shows, as dealers set appointments and prepare inventory. Fewer diamantaires exhibiting as the focus shifts to buying. Suppliers cautious amid continued price downtrend. Good demand for 1 ct., G-H, VS-SI, RapSpec A3+ diamonds. Steady sales of 0.30 to 0.50 ct. but inventory remains high. Rough trading slow, with some weakness in large stones.

India: Polished trading quiet amid ongoing liquidity concerns. Geopolitical factors fueling caution as diamantaires await national-election results. Fewer foreign buyers seen in Mumbai. Pockets of good demand, as dealers look for top-quality supply. Manufacturers maintaining reduced polished production after summer break, while profit margins tighten during May sight.

Hong Kong: Wholesale seasonally slow. Some movement in 0.30 to 0.40 ct., D-J, VS-SI as buyers capitalize on reduced prices. US-China trade war and yuan depreciation (-2.4% in May to CNY 6.9/$1) adding to caution. Buyers shifting to lower colors and clarities to accommodate tighter consumer budgets. Gold jewelry selling well.

Drobný domáci hľadač diamantov v Tanzánii našiel zatiaľ najvačší surový diamant aký sa kedy tam vyryžoval o váhe 512 karátov .
Tomu sa povie výhra, nedoloval na cudzom pozemku - čiže peniaze z predaja po zaplatení poplatkov sú jeho.

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Rapaport Weekly Market Comment

May 30, 2019 10:58 AM

Las Vegas show opens with hopes it will uplift diamond market. Jewelers taking more on memo and using tech in their stores to tap online supply and improve consumer buying experience. Polished suppliers left with large volumes and low profit margins. Rough market slow. India’s customs unreasonably tightens disclosure rules for rough imports. India April polished exports -18% to $1.6B, rough imports -5% to $1.4B. Christie’s Hong Kong sells $45M (77% by lot) with cushion, 3.43 ct., fancy-vivid-purplish-pink, IF diamond fetching $7.5M ($2.2M/ct.). Rapaport to host annual Las Vegas conference on Sunday, June 2, at 8 a.m.

Fancies: Fancy shapes soft, reflecting slowdown in high-end demand. Inventory limited. Well-known brands and buyers with specific requests are paying the strongest prices. Dealers being squeezed by lack of goods and low profit margins. Ovals for fashion jewelry moving well, especially VS2-SI2. Pears with VS clarity also steady. Demand for Radiants and Emeralds declined. 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: All eyes on Las Vegas shows. Positive sentiment as consumer confidence hits six-month high, despite Chinese trade-war concerns. Steady demand for 0.70 to 1.50 ct., G-J, SI-I1 diamonds. Jewelers seeing steady engagement-ring sales. Bridal driving growth in platinum sales, according to Platinum Guild.

Belgium: Polished trading stable, with focus on bread-and-butter US goods during Las Vegas shows. Buyers hunting for bargains and have specific needs as jewelers limit inventory purchases. Solid demand for 1 ct., G-H, VS-SI, RapSpec A3+. Large stones weaker. Rough trading relatively quiet with low premiums on the secondary market.

Israel: Local activity slow, as many dealers have gone to Las Vegas. Many choosing to attend as buyers rather than exhibitors this year. Suppliers assessing market conditions in order to prepare for second half of the year. Inventory levels slightly down from previous months but still well above 2018 levels. Good demand for nice SIs, which are difficult to source.

India: Local trading limited as many dealers traveled to Las Vegas. Some Far East and Indian buyers in Mumbai, but supply is focused on the US. Indian sentiment weak due to reduced demand and tight liquidity. Good demand for 0.70 to 1.99 ct., G-J, VS-SI. Stars and melee weak. Cutters working below capacity.

Hong Kong: Sentiment soft as trade war heats up. Polished market slow during traditionally quieter period. Dealers focused on lower colors and clarities, reflecting shift in consumer demand toward lower price points. Jewelers limiting diamond inventory and seeing stronger momentum from gold products.

Rapaport Weekly Market Comment

Jun 6, 2019 10:58 AM By Rapaport News

Slow trading at JCK show highlights middle-market liquidity and profitability challenges. Prices softening with 1 ct. RAPI -0.7% in May. Suppliers using technology and sourcing programs to demonstrate added value as jewelers reduce inventory purchases. US jewelry market steady with top independents gaining market share over majors by providing personalized service to millennials. Luxury jewelers exposed to trade war as Chinese tourists cut overseas spending. Tiffany 1Q sales -3% to $1B, profit -12% to $125M. Signet 1Q sales -3% to $1.4B, loss of $10M vs. loss of $497M the previous year. Swarovski plans move into natural diamonds. RapNet members vote no to lab-grown listings and price list.

Fancies: Fancy shapes soft, reflecting slowdown in high-end demand. Inventory limited. Well-known brands and buyers with specific requests are paying the strongest prices. Dealers being squeezed by lack of goods and low profit margins. Ovals for fashion jewelry moving well, especially VS2-SI2. Pears with VS clarity also steady. Demand for Radiants and Emeralds declined. 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: Positive sentiment among jewelers at Las Vegas shows, but slow fair for suppliers. Retailers planning fall and holiday collections, limiting loose-diamond buying to specific items. Steady demand for 0.60 to 1.99 ct., G-J, VS2-I1 goods. VVS weak. Bridal sales stable, but market shifting to lower-price categories.

Belgium: Fewer dealers attended Las Vegas fairs. Buyers are price-sensitive and avoiding inventory buildup. Polished and rough trade well below last year’s levels with exports to all major markets and trading centers down. Good demand for 1 ct. G-J, VS-SI, RapSpec A3+ diamonds. Rough market cautious ahead of next week’s Alrosa sale (June 13 to 19).

Israel: Sentiment mixed following the JCK show. Weak demand for stones below 0.50 ct. and above 3 ct. Commercial-quality 1 ct., G-J, VS-SI stable and supporting the market. Some dealers traveling to Hong Kong June show to assess impact of trade war on Far East demand. Rough trading slow as manufacturers prefer to buy polished than rough.

India: Trading in Mumbai relatively slow as May summer break ends and dealers return from Las Vegas. Inventory levels declined slightly in past month after manufacturers reduced polished production. Rough market cautious amid tight profitability. Good demand for lower-color (J-K) diamonds. Local jewelry market stable.

Hong Kong: Diamond trading quiet, with dealers waiting for market indicators from Las Vegas shows. Suppliers preparing for Hong Kong fair (June 20 to 23), hoping to unlock pent-up Far East demand. Consumer sentiment sluggish amid heightened US-China trade tensions. Strong dollar and China-first policy pushing Chinese tourists to spend more at home. Gold sales stable as consumers seek investment value in jewelry.

Rapaport Weekly Market Comment

Jun 13, 2019 10:58 AM

Disappointing Las Vegas shows failed to add value for diamond dealers. Jewelry wholesalers did better, reflecting steady US market. Diamantaires focused on showcasing tech rather than diamonds; innovations included improved traceability programs, online sales platforms and better inventory management. Brands pushing bridal as average engagement-ring price continues to decline. Small De Beers June sight expected as manufacturers reduce cutting operations. Alrosa May sales -8% to $266M. Chow Tai Fook FY sales +13% to $8.5B, profit +11% to $597M, but 2H growth flat amid trade war uncertainty. Industry mourns the passing of former GIA president Glenn Nord.

Fancies: Fancy shapes soft, reflecting slowdown in high-end 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 and buyers with specific requests are paying the strongest prices. Ovals for fashion jewelry moving well, especially VS2-SI2. Demand for Radiants and Emeralds down. 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 New York trading as dealers return from Vegas shows. Some optimism for second half of the year amid positive jewelry retail sentiment. Good demand for 0.70 to 1.99 ct., F-J, VS2-SI2 diamonds. Buyers lacking urgency. Memo houses doing well, as jewelers are holding less in-house inventory.

Belgium: Polished trading slow during short week due to Whit Monday public holiday. Little reaction to Vegas shows, as fewer suppliers attended. Commercial-quality G-J, VS-SI diamonds selling better than collection goods (D-F, IF-VVS). Buyers looking at price points and avoiding inventory buildup. Rough trading cautious ahead of Alrosa sale (June 13 to 19) and De Beers sight (June 17 to 21).

Israel: Market quiet, with concern that conditions will worsen before they get better. Dealers at the JCK show were looking for buying opportunities but cautious about falling diamond prices. Focus remains on mid-range American goods. Large stones weak. Thirty companies participating in Hong Kong show (June 20 to 23), hoping for improvement in Chinese demand.

India: Weak sentiment, with manufacturers under pressure due to sluggish polished demand and tight profit margins. Factories operating at reduced capacity, and some manufacturers slashing salaries of polished workers. Fewer foreign buyers in Mumbai after Las Vegas shows. Steady orders for 0.30 to 0.99 ct., G-J, VS-SI diamonds, but prices continue to soften. Concern that rising demand for synthetics is cannibalizing small-stone market.

Hong Kong: Polished trading slow amid buyers’ reluctance to invest in down-trending market. Sentiment weak due to US-China trade war and slow global trading. Steady interest in 0.30 to 0.50 ct., F-I, VS-SI RapSpec A3+ diamonds, but excess supply still affecting prices. Shortage of top-quality SIs (3X, no-fluorescence, no black, green or milky). Dealers preparing for next week’s show.

Rapaport Weekly Market Comment

Jun 20, 2019 10:58 AM

Sentiment weak as polished prices continue to soften. Hong Kong fair opens with hope for better trading than Las Vegas shows. Outlook for Chinese local demand improves as luxury consumers shift to domestic spending, since weak yuan and trade war have reduced tourist shopping. Jewelers avoiding inventory buildup. Rough market cautious despite reported 4% to 8% price cut on small rough during low-value De Beers sight. Manufacturers reducing operations due to sluggish demand and tight profit margins. Christie’s Maharajas & Mughal Magnificence sale nets $109M (93% by lot) with Cartier diamond brooch selling for $10.6M. French billionaire Patrick Drahi acquires Sotheby’s for $3.7B.

Fancies: Fancy shapes soft, reflecting slowdown in high-end 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 the strongest prices, as are buyers with specific requests. Ovals for fashion jewelry moving well, especially VS2-SI2. Demand for Radiants and Emeralds down. 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: Slow trading ahead of July break. Retail performing better than last year, but dealer market weak. Jewelers limiting purchases and taking more goods on memo. Stable demand for 1 to 1.25 ct., G-J, VS-SI diamonds. Bridal steady during summer wedding season, but there is concern that average spend on engagement rings is declining.

Belgium: Sluggish rough and polished trading. Dealers who shunned Las Vegas are traveling to Hong Kong Jewellery & Gem Fair (June 20 to 23), where they see greater buyer potential. Top-make SIs doing well, but suppliers stuck with a lot of lower-quality goods. Large stones slow. Rough market soft during De Beers sight.

Israel: Cautious mood in the bourse. Several dealers attending Hong Kong show after Las Vegas failed to boost trading activity. Small goods below 0.60 ct. weak. Steady demand for SI-I1 diamonds. Large-stone market subdued in both rough and polished.

India: Polished trading relatively quiet for this time of the year. Some companies reducing prices to boost activity and liquidity. Manufacturers cutting their rough intake, as they’re maintaining low factory production levels. Few overseas buyers in Mumbai as focus shifts to Hong Kong for the show. Locals looking for 1 ct. and larger stones, as small sizes remain weak.

Hong Kong: Dealers concentrating on this week’s show. There is concern some buyers have canceled due to ongoing protests in the city, which have also affected sentiment in the luxury sector. Major retailers are reducing inventory and have avoided large purchases in recent months. Steady demand for 0.30 to 0.50 ct. and 1 ct., F-I, VS-SI, RapSpec A3+ goods. Colored-diamond dealers more optimistic than others.