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Rapaport Weekly Market Comment

Oct 17, 2019 11:03 AM   By Rapaport News
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Markets quiet amid Jewish holidays with steady demand for RapSpec A3+ goods. Indian manufacturers delay Diwali shutdown to increase post-festival inventory. Trading slow at Bharat Diamond Week. Liquidity low while companies settle supplier bills and pay staff ahead of Diwali. Alrosa Sep. sales -24% to $259M, but small-stone demand recovering. Hong Kong protests hit luxury sector, with Chow Tai Fook 2Q retail sales -35% in Hong Kong and Macau, +4% in mainland China. De Beers launching Lightbox at Bloomingdale’s and Reeds Jewelers. David Kellie to succeed Jean-Marc Lieberherr as CEO of Diamond Producers Association. Rapaport offices will close Oct. 21-22 for Jewish holidays.

Fancies: Fancy shapes soft, reflecting slowdown in overall demand. High-end collection goods weak, as dealers and consumers shift to lower price points. Some brands with requests for high qualities are paying a premium for rare items and very well-made fancies. Ovals for fashion jewelry moving well in 1.50 and 2 ct., G-H, VS and H-K, SI2. Marquises and Princesses weak despite reduced manufacturing. US sustaining market for under 1 ct.commercial-quality, medium-priced fancies. Chinese consumers seeking fancy shapes at better prices. Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts.

Rapaport News will resume publication of the country market comments after the Jewish holiday period.
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