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Rapaport TradeWire September 5, 2019

Concerns about Hong Kong show remain as protests continue despite withdrawal of extradition bill that sparked them.
Sep 5, 2019 11:09 AM   By Rapaport
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Rapaport TradeWire
September 5, 2019
RAPAPORT MARKET COMMENT
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Concerns about Hong Kong show remain as protests continue despite withdrawal of extradition bill that sparked them. Luxury jewelers developing China strategy to focus on high-end consumers, who are spending more at home. Weak Chinese wholesale demand weighing on diamond market, with 1 ct. RAPI -0.4% in August. US jewelers considering buying opportunities but delaying holiday stock orders. Signet Jewelers 2Q sales -4% to $1.4B, net loss of $44M vs. $31M loss last year. Polished inventory levels reduced, but still higher than previous years. Manufacturing profit margins tight despite limited rough supply. Rough prices must come down to enable better 2020.

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RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct -0.25% -0.57% -21.80%
0.50 ct -0.34% -0.91% -10.51%
1.00 ct -0.71% -0.45% -6.23%
3.00 ct -1.40% -2.35% -18.59%
RAPI Yearly Graph
600X160 Alrosa
Market Reports
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United States: Steady demand for 1 to 1.50 ct., G-J, VS-SI engagement-ring goods, with rising interest in ovals...
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Belgium: Calls to fill specific orders, but very few buying for stock...
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Israel: Uncertainty surrounding the Hong Kong show, although some foresee buying opportunity in weak market...
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India: High gold price and declining currency (INR 72/$1) impacting domestic jewelry demand...
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Hong Kong: Local wholesalers expecting some dealer activity at the fair, but low Chinese buyer attendance...
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Trade Wire 600X160 April 2018
Tracr Aiming to Be More Than a Blockchain
WITH Avi Krawitz

In an interview with Rapaport News, CEO Jim Duffy outlines his vision for a digital platform that connects the entire diamond market.

UPS AND DOWNS
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Tech Reveals New Kimberlite at Botswana Site
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Football Star Creates Charity Diamond-Necklace Line
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Surat Factory Lays Off 300 Polishers
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Hong Kong Businesses Lack Customers Amid Protests
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WEEKLY NEWS
industry
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China Slowdown Weighing on Diamond Prices
Far East demand sluggish due to an escalation of the trade war, protests in Hong Kong, and the depreciation of the yuan.
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US Trade Calls to Delay Tariff Hike
More than 160 business groups write open letter asking for postponement until after holiday season.
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Angola Aims to Broaden Its Diamond Trade
Mineral minister wants to diversify the local industry across the pipeline.
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South Africa Urges Diamond-Sector Change
Government concerned that only about one quarter of carats produced went to local beneficiation.
retail
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Signet Lowers Outlook as Sales Drop
Revenue dragged down by weak purchasing at Jared and Kay.
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Tiffany & Co. Expanding in China
Jeweler will launch additional stores, Blue Box Cafes and new collections.
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Pandora Relaunches to Attract Younger Audience
Jeweler introduces new look and brand influencers at LA event.
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Hong Kong Retail Suffers Amid Protests
Weakened consumer sentiment and disruptions to tourism lead to double-digit drop.
mining
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Drop in Large Stones Dents Gem Diamonds
Miner recovered three over 100 carats during first half compared with 10 the previous year.
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High-Quality Rough Lifts Lucapa Profit
Miner reported loss of $4.3 million last year.
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BlueRock Loss Narrows as Sales Rise
Revenue more than doubled in first half.
general
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WDC Executive Director Exits Organization
Marie-Chantal Kaninda was named one of the 100 most influential women in Africa by “Forbes.”
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IGI Names North American President
Avi Levy will focus on expanding the institute’s global recognition.
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Webinar Series to Guide Responsible Sourcing
First Jewelry Industry Summit seminar will take place October 11.
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FINANCE
Diamond Industry Stock Report
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Global retail stocks rebounded this week following Hong Kong leader Carrie Lam’s withdrawal of the extradition bill. Macy’s (+2%), Chow Tai Fook (+8%), Luk Fook (+5%), LVMH (+4.5%) and Kering (+4.2%) all rose, while J.C. Penney (+12%) got a boost after company executives purchased shares in the business. Mining companies fared well, with stock in Lucapa (+7%), Petra (+6%) and Alrosa (+3.2%) all rising. Mountain Province (-8%) and Stornoway (-38%) both fell following reports they might be delisted from their respective stock exchanges.

Rapnet Trade Wire
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