Rapaport Weekly Market Comment
May 21, 2020 11:02 AM

Diamond trading remains at historic lows due to reduced demand and continued lockdown in important US market. Service providers resume operations. GIA opens five global labs. Israel Diamond Exchange to unlock trading floor on May 24. Focus shifting to marketing strategies to stimulate recovery, with emphasis on digital channels. Diamonds as symbol of values and emotional connection to be central theme as consumers emerge from period of isolation. Diamond Producers Association to drop ‘‘Real is Rare’’ campaign in complete brand overhaul on June 1. Baselworld to change name and venue in 2021. De Beers urges manufacturers to keep supply chains open, even at drastically reduced levels, as India postpones rough-import moratorium to June 1.

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: Retail cautiously reopening in some states. Sector suffers sharpest monthly decline on record in April, with sales down 16% from previous month, according to National Retail Federation. New York still on lockdown but curbside pickup now allowed. Diamond district remains closed. US March polished imports -66% to $750M, polished exports -44% to $936M.

Belgium: Short week due to Ascension Day public holiday on May 21. Trading floors have reopened following lockdown, but bourses quiet and staff working reduced hours. Most demand is from Hong Kong, with shipments possible following gradual return of customs offices and cargo travel. City of Antwerp announces extra financial help for struggling companies. Richemont — owner of Cartier and Van Cleef & Arpels — predicts potential three-year recovery, reports FY jewelry sales +2% to $7.8B, operating profit -7% to $2.3B.

Israel: Trading floor to reopen May 24 with altered format to enable social distancing. Businesses operating but trading slow as partners in US and India remain in lockdown. Government agrees to Israel Diamond Exchange plea for financial support for diamond companies. Bourse president Yoram Dvash sets up campaign committee to lobby authorities on trade’s behalf.

India: Diamond sector slowly returning despite extension of nationwide lockdown until May 31. Bharat Diamond Bourse reopens for export activities and Surat manufacturing restarts with limited capacity. Trade groups delay recommended 30-day rough-import freeze until June 1 to help companies complete outstanding shipments. March polished exports -48% to $961M, rough imports -65% to $293 million.

Hong Kong: Most of the city now open for business. Diamond wholesalers receiving goods as shipments from trading centers resume. Hong Kong emerges as most important center post-lockdown with US remaining shut. Retail foot traffic slow, with consumers cautious to gather in public spaces. Tourist shopping drastically reduced as two-week quarantine still required for new arrivals. Emphasis remains on online shopping.

Rapaport Weekly Market Comment
Jun 4, 2020 11:02 AM
Hong Kong emerging as important trade center with some post-coronavirus demand from China. US market mostly shut. New York and other regional centers closed due to Covid-19. Riots and looting are keeping jewelry stores closed following tragic death of George Floyd. India slowly reopening with Surat operating at 70% but Mumbai in lockdown except for limited staff handling exports. Rough markets at standstill. Limited sight expected in Antwerp. India begins 30-day voluntary rough import freeze. Alrosa allowing deferrals at June contract sale and offering goods online. Petra cancels May sale after rough prices -27% since Feb. DPA rebrands as Natural Diamond Council with tagline “Only Natural Diamonds.” Rapaport Price List returning to weekly publication starting next Thursday, June 11.

Fancies: Fancy shapes sluggish amid lockdown of US retail. Weakness across all categories, including top makes and large sizes. Downtrend affecting all products and stemming from external forces beyond industry’s control. 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: Growing concern over market recovery as nationwide protests against police brutality turn violent. Stores closing again due to riots after partially reopening following Covid-19 lockdown. Dealers staying away from 47th Street. Jewelers and diamantaires acclimating to new normal and improving e-commerce platforms to facilitate sales.

Belgium: Some improvement in demand as global retail activity gradually returns. Dealers focused on Far East as many US businesses remain shut due to pandemic and recent riots. Rough market quiet, with some appetite for purchases via online platforms. More miners considering viewings in Antwerp given ongoing lockdown in southern Africa and India.

Israel: Trading floor open with social distancing and sanitization measures. Increase in country’s Covid-19 cases raises possibility of tightening restrictions again. Demand mainly from Hong Kong, since US retail and trading centers are still closed.

India: Mumbai lockdown continues; trading offices allowed 10% of workers to facilitate exports. Tropical cyclone also hits Mumbai coast. Surat 70% open for business. Manufacturers commence 30-day voluntary ban on rough imports to ease liquidity. Rough demand at historic lows. Titan Company issues profit warning for first half, noting only marginal sales this fiscal year due to coronavirus shutdown.

Hong Kong: Dealers taking some orders from China. Hong Kong positioned as most active trading center. About 90% of companies have reopened. Retail slow amid reports of second wave of infections in some areas, and concerns about renewed protests against China security laws. Tourist numbers have collapsed, with just 4,100 arrivals in April. China seeing accelerated shift to online shopping during Covid-19 period. Hong Kong sales of jewelry, watches and other luxury items down 77% in April at HKD 1.36 billion ($176 million), the lowest monthly level on reco

Rapaport Weekly Market Comment
Jun 18, 2020 11:02 AM
Sentiment improving as US retail shows signs of recovery with May sales +18% from previous month. Dealers and jewelers anticipating rise in bridal demand. Geopolitical tensions and Covid-19 outbreak in Beijing fueling caution about China. Rough producers see interest in large, investment-grade diamonds; D-IF prices firming in smaller-size polished (0.50 to 2 ct.). Surat factories operating at very low capacity, as India April-May rough imports -94% to $81M, polished exports -79% to $389M. Grib Diamonds sells 90% by value at Antwerp rough auction, with slightly higher prices than March. Industry mourns death of Rosy Blue founder Arunkumar Mehta. GJEPC elects Colin Shah as chairman.

Fancies: Fancy shapes sluggish as US retailers reopen. Dealers hoping for improvement in fancies for engagement rings, as consumers seek alternative, unique designs at lower cost. Inventory is low for 1.50 ct. Ovals and Pears, supporting prices, but demand is still weak. High availability of fancies below 1 ct., with Cushions showing similar price declines to rounds. Off-make, poorly cut fancies illiquid and difficult to sell.

United States: Manufacturing and wholesale sectors reopening but trading still slow. Dealers receiving some memo requests, mainly for bridal goods. Suppliers firm on prices in anticipation of stronger activity in the coming weeks as businesses return. Jewelers expecting wave of post-lockdown proposals.

Belgium: Customers placing sporadic orders and demand selective, with no inventory buying. Some movement in 0.30 to 0.90 ct., F-H, VS1 diamonds; 1 ct. slow. Rough market stable at low levels, with De Beers holding sight viewings in Antwerp amid restrictions on travel to Botswana. Coronavirus infection rate stabilizes but lack of Chinese tourists dampens hopes of recovery in European luxury sales.

Israel: Trading limited as diamantaires return to offices. Minimal dealer trading taking place, with growing concern the slow market will continue despite reopening of US retail and global diamond hubs. Some interest in 1 to 1.10 ct., D-F, VVS-VS1 goods. Bourse management meets with Minister of Economy to discuss support for the industry.

India: Sector still partly closed as Covid-19 cases rise. Eight manufacturers shut sections of factory after workers test positive. Virus outbreak in Beijing and India-China border dispute add to concerns about market recovery. Cautious optimism that market can improve before Nov. 14 Diwali festival. Steady demand for 1 ct., D-E, IF-VVS1 goods, especially D-IF stones. Diamond industry observes day of mourning to mark the passing of Arunkumar Mehta.

Hong Kong: Retail recovery in mainland China boosting expectations for polished demand. Online sales improving, especially in smaller diamond sizes. Local Hong Kong jewelry sales weak due to drop in tourism, with government enforcing 14-day quarantine for arrivals. Chinese diamond dealers also staying away. Growing demand for 1 ct., D-H, VS, 3X goods. Inventory levels relatively low, with nice SI2 diamonds in short supply.

Rapaport Weekly Market Comment
Jun 25, 2020 11:02 AM
Market uncertainty continues as Covid-19 cases rise again. Polished trading limited, but increase in online searches indicates efforts to fill specific orders. Major jewelers investing in e-commerce to stimulate multichannel sales and ease inventory requirements. Chow Tai Fook sees recovery in mainland China and plans 2020 expansion in lower-tier cities. Manufacturers operating at reduced capacity and facing liquidity strain at current demand levels. Rough easier to source at tenders than contract sales as De Beers and Alrosa maintain higher prices. Sotheby’s Geneva auction totals $13M, with marquise, 7 ct., fancy-intense-pink diamond ring selling for $2.8M ($405,714/ct.).

Fancies: Fancy shapes sluggish as US retailers reopen. Dealers hoping for improvement in fancies for engagement rings as consumers seek alternative designs at lower cost. Diminished inventory of 1.50 ct. Ovals and Pears supporting prices, but demand still weak. High availability of fancies below 1 ct., with Cushions showing similar price declines to rounds. Off-make, poorly cut fancies illiquid and difficult to sell.

United States: Sentiment improving as New York dealer market gains some momentum. Orders coming in at reduced levels. Jewelers require melee for bridal collections and note rising interest in lower-priced engagement rings. Memo calls focused on 1.50 to 2.50 ct., F-K, VS-SI goods. 3 ct. and larger slow.

Belgium: Deep concern over economic impact of coronavirus, with reports of more than 1,000 industry jobs lost in Antwerp. More companies offering rough in Antwerp due to travel limitations. Smaller miners and tender houses seeing improved interest in rough at reduced prices. Dealers filling orders for 0.30 to 0.80 ct. polished for retail programs. 1 ct. collection goods also selling well.

Israel: Polished trading sporadic, with preference for local sourcing due to travel restrictions. Buyers very selective and filling orders rather than purchasing for inventory. Suppliers with the right goods are selling at steady prices. Stable interest in 1 ct., D, IF goods. Shift to lower price points for US market.

India: Sentiment cautious amid sluggish demand from local and foreign buyers. Dealers and manufacturers operating at reduced capacity due to ongoing lockdown. Businesses lobbying government to allow extended period for loan repayments. Larger suppliers doing better than smaller companies. Cutters facing tight liquidity due to slump in orders and ongoing expenses.

Hong Kong: Trading slowly picking up as China retail continues to improve. Activity limited as China border is still closed. Expectation of stronger demand from Chinese buyers once travel restrictions are lifted. Local demand weak. Stable market for 1 ct., D-H, VS-SI, 3X polished.

Rapaport Weekly Market Comment
Jul 2, 2020 11:02 AM
Polished trading slow despite improved retail sales in China. US jewelers limiting purchases, as they have enough inventory to meet 3Q demand. Trade sees potential for good holiday season since consumers are not spending on travel. Major retailers investing in technology to drive multichannel sales. Savvy independents nurturing ties with local communities to maintain market share. Rough market quiet. De Beers and Alrosa prepared to sell fewer diamonds at higher prices through the downturn. India extends voluntary ban on rough imports. Christie’s sets record with online sale of emerald, 28.86 ct., D, VVS1 diamond ring for $2.1M ($73,284/ct.). GIA, IGI reopen NY labs.

Fancies: Fancy shape sales sluggish as US retailers reopen. Dealers hoping for improvement in fancy shape engagement rings as consumers seek alternative designs at lower cost. Reduced inventory of 1.50 ct. Ovals and Pears supporting prices, but demand still weak. High availability of fancies below 1 ct., with Cushions showing similar price declines to rounds. Off-make, poorly cut fancies illiquid and difficult to sell.

United States: Retail sales improving since the return to business, but some states shutting down again due to spike in coronavirus infections. De Beers notes positive June jewelry sales driven by gift purchases. Polished trading slow. Dealers happy to be back in the market and are skipping their usual July summer break. Focus on filling memo calls for bridal goods.

Belgium: Traders more optimistic about post-coronavirus opportunities. Stable demand for 0.30 to 0.90 ct., F-H, VVS1-VS2 and 1 to 2 ct. (3X, no fluorescence) diamonds. Very few overseas buyers due to travel restrictions. Low rough sales expected to continue in July even as Alrosa considers viewings in Antwerp.

Israel: Market slow. Local trade targeting US and China retailers via online channels due to travel restrictions. Buyers avoiding inventory purchases. Steady interest in 0.50 ct., D-H, VS2-SI1 diamonds. Shortages supporting market for pear and oval, 1.50 to 2 ct., F-J, VS goods. Israel Diamond Manufacturers Association elects Nissim Zuaretz as president.

India: Sentiment weak as Surat closes down again due to spread of Covid-19 in factories. Tensions with China also fueling caution. Some interest from Hong Kong for dossiers, with stable demand for 1 ct., D-H, VS-SI goods. US inquiries to fill existing orders. Rough trading slow as industry extends moratorium on imports to end of July.

Hong Kong: Shorter week due to Establishment Day holiday on July 1. Trading limited to local dealers, since quarantine requirements for arriving foreigners are restricting activity. More polished going to Shenzhen to serve Chinese buyers. Steady demand for 0.30 to 0.50 ct. and 1 ct., D-H, VS-SI, 3X polished. China jewelry sales maintaining positive momentum, but Hong Kong retail remains weak.

Financial Data
Metals
Gold 1,973.36 +0.79%

Silver 24.38 +3.59%

Platinum 912.03 +0.68%

Palladium 2,115.66 +1.28%

Currencies
Euro $1.18 -0.55%

Pound $1.31 +0.10%

Yuan($) 6.98 -0.45%

Rupee($) 75.02 +0.32%

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. $125.36 +0.57%

Signet Jewelers $10.74 -4.19%

Chow Tai Fook HKD 7.63 +1.19%

LVMH €402.65 -0.33%

Petra Diamonds GBX 2.60 -3.70%

Financial Data
Metals
Gold 1,975.23 -0.05%

Silver 24.33 +0.01%

Platinum 927.42 +0.69%

Palladium 2,105.40 +0.43%

Currencies
Euro $1.18 +0.27%

Pound $1.31 -0.10%

Yuan($) 6.98 +0.01%

Rupee($) 75.02 -0.21%

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. $125.47 +0.09%

Signet Jewelers $11.03 +2.70%

Chow Tai Fook HKD 7.63 +1.19%

LVMH €402.65 -0.33%

Petra Diamonds GBX 2.60 -3.70%

Cena zlata nad 2 000 USD, črtá sa niekde väčšia vojnička???🙄

Financial Data
Metals
Gold 2,046.62 +0.38%

Silver 27.65 +2.45%

Platinum 976.76 +0.73%

Palladium 2,213.50 +1.12%

Currencies
Euro $1.18 -0.13%

Pound $1.32 +0.38%

Yuan($) 6.95 +0.14%

Rupee($) 74.99 +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. $125.21 -0.25%

Signet Jewelers $12.26 +6.61%

Chow Tai Fook HKD 7.63 +1.19%

LVMH €402.65 -0.33%

Petra Diamonds GBX 2.60 -3.70%

Rapaport Weekly Market Comment
Aug 6, 2020 11:18 AM By Rapaport News
Polished market improving due to select demand from US and China. Shortages supporting prices; 1 ct. RAPI +1.9% in July. Jewelers acclimating to new normal by emphasizing digital sales and lower in-store inventory. De Beers considering layoffs and investing in tech to enable more efficient and customized supply. Rough trading slow and availability low after small De Beers and Alrosa sales. Alrosa in talks to sell $500M to $1B of excess supply to Gokhran. India renews appeal to limit rough buying. Chow Sang Sang expects 1H profit -65% to $26M as Hong Kong sees dramatic slump in tourism. AGS lab resumes grading synthetic diamonds after eight-year break.

Fancies: Reduced inventory supporting prices for select fancy shapes. Strength in Ovals and Pears, 1.50 to 2 ct. goods in I-K and VS categories and 3 to 5 ct. SIs. Rising demand for fancies in China helping the market. Excellent cuts and nice shapes in demand. Dealers hoping for improved sales of fancy shape engagement rings as consumers seek alternative designs at lower cost. High availability of fancies below 1 ct. Off-make, poorly cut fancies illiquid and difficult to sell.

United States: Dealers receiving orders from retailers. Focus on bridal. Jewelers are looking for specific items rather than inventory but having difficulty finding the right goods. Steady demand for 0.70 to 1.50 ct., G-H, VS-SI diamonds. Estate jewelry market strong as high-end consumers and collectors seek authentic, branded pieces that hold value.

Belgium: Bourses closed and most companies on vacation through August. Polished suppliers concentrating on European market. Stable demand for collection goods. Rough sentiment mixed, with very little trading and few goods available after last week’s De Beers sight.

Israel: Companies with strong networks in the US and China coping with the crisis better than others. Shortages keeping prices firm in certain categories. Dealers eager to find new supply to fill existing orders. Steady interest in 1 ct., G-H, VS-SI.

India: Outlook improving amid gradual increase in demand from US and China. Manufacturing units running for longer hours but still operating well below capacity. Supply shortages supporting prices for round, 0.30 to 0.50 ct., D-H, IF-VS goods (3X, none) following long period of limited production. Solid market for oval and pear, 1.20 ct. and larger, D-J, VS-SI diamonds. Liquidity tight as buyers forced to delay payments. Local retail sales slow.

Hong Kong: Third Covid-19 wave hurting diamond sector. Infection rate showing signs of slowing but outbreak will take time to bring under control. Wholesalers laying off employees to reduce costs. Trading weak as sellers refuse to lower prices. Retail sluggish amid tourism slump and subdued local sentiment. Polished imports down 50% to $4.6 billion in first half, with exports falling 46% to $3.7 billion.

Financial Data
Metals
Gold 2,033.68 -1.44%

Silver 28.36 -1.94%

Platinum 976.07 -2.24%

Palladium 2,182.29 -2.11%

Currencies
Euro $1.18 -0.91%

Pound $1.31 -0.64%

Yuan($) 6.97 +0.22%

Rupee($) 74.91 -0.06%

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. $124.82 -0.17%

Signet Jewelers $12.71 +6.18%

Chow Tai Fook HKD 7.63 +1.19%

LVMH €402.65 -0.33%

Petra Diamonds GBX 2.60 -3.70%