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Rapaport TradeWire October 24, 2019

Indian companies filling final orders ahead of Diwali.
Oct 24, 2019 11:24 AM   By Rapaport
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Rapaport TradeWire
October 24, 2019

Indian companies filling final orders ahead of Diwali. Manufacturing slowing before the festival with factories closing until late November. Steady demand for select categories but traders struggling to sell unwanted items. Markets quiet in Israel, Antwerp and New York following Jewish holiday period. De Beers inventory up in 3Q due to weak rough demand and despite production decline -14% to 7.4M cts. Miner predicts elevated stock levels will last until 2020. Alrosa 3Q sales -37% to $611M, output +15% to 12.1M cts. Jewelry business closures +27% to 286 in 3Q, JBT reports. Signet launches synthetic diamonds at Kay and Jared. The Rapaport Group wishes all our friends a happy Diwali.

Trade Wire 600X160 April 2018
Weekly Monthly Y2Y
0.30 ct 0.45% 0.79% -18.26%
0.50 ct 0.59% 0.01% -9.22%
1.00 ct -0.23% 0.05% -5.71%
3.00 ct -0.24% 0.62% -18.80%
RAPI Yearly Graph
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Quarterly sales slide 23% to $61.6 million.
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Polished exports fall 25% in September.
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GIA to Roll Out Gem Guide Across Africa
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Tradewire Banner October Single Stone V2
Diamond Industry Stock Report

Hong Kong retail stocks continued to rebound amid optimism about US-China trade talks. Chow Sang Sang (+7%), Chow Tai Fook (+5%) and Luk Fook (+2%) all rose. European stocks, including Kering (-1%), LVMH (-1%) and Richemont (-1%), dipped slightly as the imminent Brexit deadline approached, while Pandora (+24%) bucked the trend following its upgrade by Carnegie Investment Bank. Mining companies once again struggled in the weak rough market. Alrosa (-4%), Mountain Province (-4%) and Petra (-9%) all fell after reporting disappointing results, with Lucapa (-7%) and Gem Diamonds (-6%) also losing ground.

Rapnet Trade Wire
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