Financial Data
Metals
Gold 1,687.74 -0.43%
Silver 15.11 -1.32%
Platinum 764.29 -1.32%
Palladium 2,073.64 -4.89%
Currencies
Euro $1.08 -0.22%
Pound $1.24 -0.53%
Yuan($) 7.07 -0.01%
Rupee($) 76.83 +0.29%
Indices
S&P 500 2,901.52 +0.01%
FTSE 100 7,432.42 -1.11%
Hang Seng 27,906.59 -0.91%
Shanghai 2,725.25 -0.46%
Sensex 38,645.07 -0.12%
Stocks
Tiffany & Co. $128.95 -0.15%
Signet Jewelers $7.63 -4.74%
Chow Tai Fook HKD 6.29 +0.48%
LVMH €360.45 +0.68%
Petra Diamonds GBX 2.22 +0.23%
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Rapaport Weekly Market Comment
Apr 23, 2020 11:02 AM
Sentiment weak due to slump in demand since early March. Some orders from China and Hong Kong, but US and European markets remain in lockdown. Dealers frustrated by inability to resume trading. Indian industry groups call for one-month suspension of rough imports beginning May 15 in effort to ease liquidity and deplete existing polished inventory. Mid-tier miners under pressure with weak prospects to generate cash required for debt payments. Dominion files for insolvency protection. De Beers 1Q sales volume +19% to 8.9M cts.; lowers 2020 production guidance to 25-27M cts. as Debswana mines on care and maintenance in April. JBT anticipates spike in closures after US jewelry trade shrinks 4% to 24,280 businesses in 1Q. JCK Las Vegas and Luxury 2020 shows canceled. Yoram Dvash elected acting WFDB president as Ernie Blom steps down. Rapaport Flash Sale Jewelry Auction – Tuesday, May 5 and Wednesday, May 6.
Fancies: Fancy shapes sluggish amid lockdown of US retail. Weakness across all categories, including top makes and large sizes, as luxury brands temporarily shut stores. Downtrend due to external forces beyond industry’s control and affecting all products. Inventory still low in some categories of Pears and Ovals, but very little demand. High availability of other categories, with Cushions showing similar price declines to rounds. Off-make, poorly cut fancies illiquid and difficult to sell.
United States: Businesses under pressure as retail stores and diamond trading centers remain closed. Concerns about pending wave of bankruptcies. Jewelers Board of Trade reports many companies discontinued in the first quarter. Cancellation of JCK Las Vegas and Luxury shows reflects weak outlook for rest of the year.
Belgium: Bourses remain shut while Europe battles coronavirus. Rough market at a standstill. Polished shipments slump in March with exports to US down 47% to $152 million, but demand from Hong Kong showing signs of recovery.
Israel: Sector quiet as overseas retail remains shut. Bourse trading floor closed until further notice. Government partially relaxes restrictions on movement but still limiting business activities and advising people to stay at home. Rapaport Single Stone Auction in Israel April 22-27.
India: Manufacturing and trading on hold as country remains under lockdown. Surat polishing industry and Bharat Diamond Bourse shut until May 3 at the earliest. Rupee slumps to record low of $76.88/$1, putting additional pressure on domestic demand.
Hong Kong: Gradual resumption of activity but diamond trading slow due to shutdowns in other diamond centers. Hong Kong retail quiet amid drop in tourism and weak local sentiment. Luk Fook same-store sales down 57% in three months ending March 31.
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Financial Data
Metals
Gold 1,707.63 -0.45%
Silver 15.07 -0.90%
Platinum 766.85 +0.20%
Palladium 1,923.03 -0.32%
Currencies
Euro $1.09 +0.29%
Pound $1.25 +0.42%
Yuan($) 7.08 -0.05%
Rupee($) 76.06 -0.12%
Indices
S&P 500 2,901.52 +0.01%
FTSE 100 7,432.42 -1.11%
Hang Seng 27,906.59 -0.91%
Shanghai 2,725.25 -0.46%
Sensex 38,645.07 -0.12%
Stocks
Tiffany & Co. $124.99 -1.08%
Signet Jewelers $8.23 +8.15%
Chow Tai Fook HKD 6.38 +1.43%
LVMH €350.00 +2.68%
Petra Diamonds GBX 2.27 +4.13%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Financial Data
Metals
Gold 1,716.99 +0.23%
Silver 15.35 +0.22%
Platinum 778.60 -0.45%
Palladium 1,976.23 +1.10%
Currencies
Euro $1.09 +0.13%
Pound $1.25 +0.08%
Yuan($) 7.05 -0.33%
Rupee($) 75.15 -0.18%
Indices
S&P 500 2,901.52 +0.01%
FTSE 100 7,432.42 -1.11%
Hang Seng 27,906.59 -0.91%
Shanghai 2,725.25 -0.46%
Sensex 38,645.07 -0.12%
Stocks
Tiffany & Co. $127.36 +0.64%
Signet Jewelers $10.39 +10.30%
Chow Tai Fook HKD 6.62 +1.07%
LVMH €350.95 +2.96%
Petra Diamonds GBX 2.31 -2.94%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Rapaport Weekly Market Comment
Apr 30, 2020 11:02 AM By Rapaport News
Diamond trading limited as some centers start to ease lockdown restrictions. Dealers and manufacturers focusing on how to reduce inventory, with more than enough rough and polished in the pipeline to satisfy demand. Outlook uncertain as US economy shrinks 4.8% in 1Q. Miners cut 2020 production plans and India prepares voluntary 30-day pause in rough imports. Marketers to focus on bridal as pandemic highlights important relationships. De Beers expects tighter consumer budgets will signal shift to fewer, better-quality diamond purchases. Rapaport Flash Sale Jewelry Auction – May 5-6 (Tue.-Wed.). New TradeSheet featuring Rapaport Discount Prices launched today.
Fancies: Fancy shapes sluggish amid lockdown of US retail. Weakness across all categories, including top makes and large sizes, as luxury brands temporarily shut stores. Downtrend due to external forces beyond industry’s control and affecting all products. Inventory still low in some categories of Pears and Ovals, but very little demand. High availability of other categories, with Cushions showing similar price declines to rounds. Off-make, poorly cut fancies illiquid and difficult to sell.
United States: Dealer market quiet as New York remains in lockdown. US consumer sentiment plunges amid high unemployment, with Conference Board Consumer Confidence Index down 27% to 86.9 in April, its lowest reading in nearly six years. Some states mull reopening economy, but non-essential retail still shut. Mall-based jewelers most vulnerable to prolonged slowdown.
Belgium: Government okays business activity to restart on May 4. Very little appetite for rough. Dealers anticipate limited new rough supply in next two months. Belgium 1Q polished exports -45% to $1.7B, rough imports +2% to $2.1B.
Israel: Some dealers return to offices as government eases restrictions. Bourse trading floor remains closed. Full lockdown reinstated for Independence Day celebrations. Rapaport single-stone auction in Ramat Gan demonstrates desire to generate liquidity with sales of $637,000.
India: Mumbai trading and Surat manufacturing remain on lockdown. Deep liquidity concerns. National banks expected to curb lending as they reportedly write off INR 68.6 billion ($9.2 billion) in bad loans countrywide. Manufacturers set to avoid rough purchases to focus on depleting large polished inventories. Cutters have enough rough to resume factory operations, but plan very gradual restart due to required social-distancing measures and low demand.
Hong Kong: Gradual reopening of the economy in both mainland China and Hong Kong. Very little traffic between the two as quarantine measures for arrivals remain in place. Some pent-up demand for luxury products, but overall consumer spending cautious. Dealer market starting to take orders again with limitation on deliveries from overseas.
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Rapaport Weekly Market Comment
Apr 30, 2020 11:02 AM By Rapaport News
Diamond trading limited as some centers start to ease lockdown restrictions. Dealers and manufacturers focusing on how to reduce inventory, with more than enough rough and polished in the pipeline to satisfy demand. Outlook uncertain as US economy shrinks 4.8% in 1Q. Miners cut 2020 production plans and India prepares voluntary 30-day pause in rough imports. Marketers to focus on bridal as pandemic highlights important relationships. De Beers expects tighter consumer budgets will signal shift to fewer, better-quality diamond purchases. Rapaport Flash Sale Jewelry Auction – May 5-6 (Tue.-Wed.). New TradeSheet featuring Rapaport Discount Prices launched today.
Fancies: Fancy shapes sluggish amid lockdown of US retail. Weakness across all categories, including top makes and large sizes, as luxury brands temporarily shut stores. Downtrend due to external forces beyond industry’s control and affecting all products. Inventory still low in some categories of Pears and Ovals, but very little demand. High availability of other categories, with Cushions showing similar price declines to rounds. Off-make, poorly cut fancies illiquid and difficult to sell.
United States: Dealer market quiet as New York remains in lockdown. US consumer sentiment plunges amid high unemployment, with Conference Board Consumer Confidence Index down 27% to 86.9 in April, its lowest reading in nearly six years. Some states mull reopening economy, but non-essential retail still shut. Mall-based jewelers most vulnerable to prolonged slowdown.
Belgium: Government okays business activity to restart on May 4. Very little appetite for rough. Dealers anticipate limited new rough supply in next two months. Belgium 1Q polished exports -45% to $1.7B, rough imports +2% to $2.1B.
Israel: Some dealers return to offices as government eases restrictions. Bourse trading floor remains closed. Full lockdown reinstated for Independence Day celebrations. Rapaport single-stone auction in Ramat Gan demonstrates desire to generate liquidity with sales of $637,000.
India: Mumbai trading and Surat manufacturing remain on lockdown. Deep liquidity concerns. National banks expected to curb lending as they reportedly write off INR 68.6 billion ($9.2 billion) in bad loans countrywide. Manufacturers set to avoid rough purchases to focus on depleting large polished inventories. Cutters have enough rough to resume factory operations, but plan very gradual restart due to required social-distancing measures and low demand.
Hong Kong: Gradual reopening of the economy in both mainland China and Hong Kong. Very little traffic between the two as quarantine measures for arrivals remain in place. Some pent-up demand for luxury products, but overall consumer spending cautious. Dealer market starting to take orders again with limitation on deliveries from overseas.
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Rapaport Weekly Market Comment
May 7, 2020 11:02 AM By Rapaport News
Trading limited but sentiment up slightly as Antwerp prepares to reopen trading floors on May 11. Select services returning to Israel Diamond Exchange. New York still on lockdown, restricting US diamond activity. 1 ct. RAPI +0.2% in April. Manufacturers curtailing rough purchases to ease liquidity pressure and focus on depleting polished inventories. Alrosa expected to reduce 2020 production guidance after suspending operations at two lower-grade mines. Gradual reopening of economy in China signals some pent-up demand in bridal and among female self-purchasers. COVID-19 crisis accelerating shift to digital consumption. Pandora 1Q revenue -13% to $606M, online sales +29%. Baselworld cancels show scheduled for Jan. 28, 2021.
Fancies: Fancy shapes sluggish amid lockdown of US retail. Weakness across all categories, including top makes and large sizes, as luxury brands temporarily shut stores. Downtrend due to external forces beyond industry’s control and affecting all products. Inventory still low in some categories of Pears and Ovals, but very little demand. High availability of other categories, with Cushions showing similar price declines to rounds. Off-make, poorly cut fancies illiquid and difficult to sell.
United States: New York’s 47th Street very quiet with non-essential businesses limited to minimum operations or remote work. Polished imports from Belgium plunged 98% to $6.9 million in April, according to data from Antwerp World Diamond Centre (AWDC). Some states allowing retail to resume. Signet Jewelers reports 130 of its nearly 3,000 US stores back to operating at partial capacity. Jewelers relying on social media channels, phone and video calls to connect with consumers.
Belgium: Government urges caution as bourses prepare to reopen next week. Rough market at a standstill during De Beers sight week, as Indian manufacturers plan to freeze buying from May 15. Rough exports fell by 96% to $35 million and polished imports by 89% to $95 million in April.
Israel: Diamantaires returning to their offices, but activity low. Some orders from Far East. Diamond exports declined 82% in April. Certain facilities have resumed operations at the bourse, including customs, the diamond comptroller’s office, banks, the post office and the Brinks safety deposit room. Trading floor remains shut.
India: Dealers and manufacturers trying to clear exports to Hong Kong as authorities extend lockdown by two weeks. Eight manufacturing units in Surat Special Economic Zone (SEEPZ) get green light to resume limited operations. Cutters planning 30-day moratorium on rough imports from May 15. Polished exports to Belgium slide 99.9% to just $146,000 in April, reports AWDC.
Hong Kong: Economy carefully reopening in both Hong Kong and China. Some orders from dealers, but demand weak. Global travel and shipment restrictions still curbing activity. Jewelers pushing online sales as stores work to overcome impersonal social distancing measures.
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Rapaport Weekly Market Comment
May 14, 2020 11:02 AM By Rapaport News
Diamond companies slowly resuming operations. Focus on China and Hong Kong as exports recommence. Some US retailers opening amid significant changes to customer engagement in new digitized, low-touch economy. Major jewelers returning memo inventory and trying to revise supply agreements to include longer payment terms. Dealer market facing liquidity crunch. Rough trading at a near standstill, with enough goods available to satisfy 2Q and 3Q demand. Alrosa in talks to sell $500M-$1B of rough to Gokhran as April revenue -95% to $16M. De Beers launches e-commerce platform for rough sales. Belgium April polished exports -84% to $132M, rough imports -84% to $126M. Rapaport announces certified diamond auction June 8-10 with delivery to Hong Kong.
Fancies: Fancy shapes sluggish amid lockdown of US retail. Weakness across all categories, including top makes and large sizes, as luxury brands temporarily shut stores. Downtrend due to external forces beyond industry’s control and affecting all products. Inventory still low in some categories of Pears and Ovals, but very little demand. High availability of other categories, with Cushions showing similar price declines to rounds. Off-make, poorly cut fancies illiquid and difficult to sell.
United States: Retailers gradually reopening stores as restrictions ease in some states. New York diamond district still shut. COVID-19 crisis accelerating shift to online spending. E-commerce sales up 49% in April compared to previous month, according to Adobe Analytics. Sotheby’s and Christie’s reconsidering June New York Magnificent Jewels auctions while offering more high-end diamonds and jewelry on virtual platforms. Christie’s expects $1M-$2M for emerald-cut, 28.86-carat, D, VVS1 at its next Jewels Online sale.
Belgium: Trading halls and customs resume activity, fueling some hope for improved business as diamantaires return to their offices. Dealers still cautious as sales volumes remain low. Weak US demand and concerns about second wave of coronavirus infections in Far East creating challenges for polished suppliers.
Israel: Economy cautiously reemerging from shutdown. Trading remains slow due to constraints on major retail markets. Israel Diamond Exchange calls for government support of the industry. Bourse repurposes International Tender Center as safe working room for members during coronavirus.
India: Countrywide lockdown still in place. Authorities allow Mumbai diamond and jewelry companies to resume operations, with social distancing measures restricting workforce to 10%. Exports have also recommenced, mainly to Hong Kong. Manufacturing limited; some factories given special dispensation to operate. Voluntary suspension of rough imports to take effect on May 15.
Hong Kong: Economy continues to reopen. Hong Kong becomes the major post-coronavirus diamond trading center. Large shipments of diamonds coming in from India, which is still in lockdown. Polished imports fell 54% to $2.3 billion in first quarter. Some concern about potential second wave of COVID-19 infections, but retail slowly improving amid new social distancing measures. Chinese consumers focused on daily necessities rather than dining, tourism or luxury spending.
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