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Rapaport TradeWire November 7, 2019

Sentiment improving after De Beers reduced rough prices 5%-7% at Nov. sight.
Nov 7, 2019 11:13 AM   By Rapaport
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8 July 2018 Igi Tw Top Banner
Rapaport TradeWire
November 7, 2019
RAPAPORT MARKET COMMENT
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Sentiment improving after De Beers reduced rough prices 5%-7% at Nov. sight. Better demand for RapSpec A3+ polished, driven by US holiday orders. Chinese demand and reduced supply supporting 0.30 to 0.50 ct. D-G, IF-VS categories. Potential US-China trade deal boosts expectations for Chinese New Year. 1 ct. RAPI -0.1% in Oct.; 0.30 ct. RAPI +1.5%. Surat manufacturers on Diwali vacation and expected to maintain cautious production. Gem Diamonds sees pressure on large high-end rough, as Letšeng 3Q average price -23% to $1,417/ct. Hong Kong 3Q net polished imports -22% to $1.1B. Peter Meeus and IGI submit competing bids to acquire HRD Antwerp.

5 Nov 2019 Gemolithos Tw Banner
RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct 0.63% 1.95% -16.97%
0.50 ct 0.09% 0.51% -8.95%
1.00 ct 0.25% -0.41% -5.36%
3.00 ct -0.24% -0.30% -18.49%
RAPI Yearly Graph
Trade Wire 600X160 April 2018
Market Reports
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United States: Steady trading, but wholesale business is weaker than last year’s holiday season...
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Belgium: Ovals and pears doing well in 1 to 1.5 ct. range...
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Israel: Dealers gaining confidence amid rise in US orders...
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India: Cutters hoping for better profit margins after Diwali break following De Beers rough price cuts...
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Hong Kong: Rising expectations over potential US-China trade deal, as dispute has significantly affected sentiment in HK/China...
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15 Aug 2019 Gia Id 100 Machine Tw Banner
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The Rapaport Diamond Podcast interviewed Stephen Lussier, De Beers’ vice president, consumer and brands, who outlined key takeaways from the recent De Beers Diamond Insight Report, titled Diamonds and Love in the Modern World. Lussier stressed how the industry can capitalize on the trends in modern relationships.

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UPS AND DOWNS
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Lucara Aims to Change Industry With Blockchain Platform
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Woman’s Diamond Ring Survives Two Major LA Fires
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Bank of Botswana Cuts GDP Forecast Amid Mining Slump
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Nirav Modi Attacked in Prison in Extortion Attempt: Lawyer
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Trade Wire Banner 6 Nov 19 Keynote Presentations
WEEKLY NEWS
industry
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News Thumbnail
De Beers Reduces Prices at November Sight
Sightholders welcome the move but would like further discounts.
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Diamond Market Improves as Holidays Approach
Reduced supply of better-quality polished has helped support prices.
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HRD Antwerp Receives Two Takeover Bids
IGI and Peter Meeus in running to buy the Belgian lab.
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De Beers Lowers Global Diamond-Jewelry Estimate
Rough production also less than previously thought.
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Labs Identify Fingerprint for Argyle Pinks
Diamonds from Rio Tinto’s Australian mine exhibit blue fluorescence under ultraviolet light.
retail
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Tiffany Wants Higher Price From LVMH
Jeweler says $14.5 billion offer undervalues the company.
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Borsheims Selling Luxury Jewelry Experiences
Customers can purchase Swiss watchmaking trips or tours of diamond mines.
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Pandora Slashes Sales Forecast
Company predicts drop of up to 9% for the full year.
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Hong Kong Sales Drop Significantly
Jewelry purchases down 41% in September.
mining
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Lucara Posts Loss in Third Quarter
Result was mainly due to increased operating expenses.
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Gem Diamonds Lowers Full-Year Outlook
Production at Letšeng shifts to lower-grade portions of the mine.
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Angola Diamond Sales Rise
Revenue up 12% to $295 million.
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Mountain Province Slides to Net Loss
Operations impacted by bad weather and weak market.
general
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Christie’s to Sell $7.5M Blue Diamond Ring
3.24-carat Moussaieff piece joins jadeite bead and spinel necklace as top lots.
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Couples Prefer Customization over Size
Average cost of engagement ring rises 4% to $5,900, according to The Knot.
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Sarine Adapts Grading to Reach Tiffany Standards
Technology will be upgraded from its current parameters which are based on GIA guidelines for color and clarity.
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KGK Opens Angola Cutting Factory
Government aims to boost local manufacturing.
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Yellow Prices Fall in Third Quarter
Weaker demand for the category drove overall fancy color index down 0.5%, FCRF says.
Tradewire Banner November Melee
FINANCE
Diamond Industry Stock Report
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Global retail stocks rebounded as the US and China took strides toward a trade deal, and the US government implemented its most recent federal tax cut. Macy’s (+6%), Signet (+5%), Chow Sang Sang (+7%), Luk Fook (7%) and LVMH (+5%) all rose. Miners had a difficult week after reporting disappointing results in the third-quarter, a tough period for the rough market. Shares in Lucara (-16%), Mountain Province (-5%) and Firestone (-5%) all slid.

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