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Rapaport Weekly Market Comment
Aug 3, 2017 11:00 AM
By Rapaport News
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Indian jewelers acclimating to demonetization and GST regulations with
steady pre-Diwali orders at IIJS show. Rough market cools as manufacturing
profit margins tighten. Rough premiums decline to low single-digit percentages
during $572M De Beers sight, with some boxes selling at a loss on the secondary
market. Alrosa cautions that potential US sanctions may impact international
diamond trade. Polished prices soften in slow summer trading with July RAPI for
1 ct. -0.7%, 0.30 ct. -1.6%, 0.50 ct. -3.3%, 3 ct. -0.1%. Rio Tinto 1H diamond revenue -1% to $340M,
profit -14% to $19M. Jewelers of America elects John Henne new chairman.
Fancies: Ovals best-selling fancy shape in US market, with
shortage of 3 ct. stones. Cushions gaining popularity. Steady demand for Pears
in the Far East. Emeralds improving and selling better than Princesses in
larger 2 ct.+ sizes. Some demand for big fancy shapes such as Radiant, 3 ct.+,
D-I, SI1-SI2 elongated stones, but buyers extremely picky. Large price
differentials between excellent- and average-cut fancies. Off-make, poorly cut
fancies illiquid and hard to sell, even at very deep discounts.
United States: Polished trading slower than
usual for this time of year. Inventory levels rising, with dealers hoping for
strong improvement in demand during fourth-quarter holiday season. Stable
demand for dossiers, but typical “American” piqué goods slow. Growth driven by
small- to medium-size jewelers, while major retailers remain cautious.
Belgium: Very little activity during summer vacation, with
bourses officially closed until August 18. Many expat Indians traveled to
Mumbai during the break. Rough market slower after last week’s De Beers sight.
Israel: Trading quiet as dealers take vacation. Bourse
services limited from August 6 to 18. Rising interest in online selling. Buyers
less particular about fluorescence and tint problem, with shift toward smaller
goods for online market. Reduced demand for 0.30 to 0.50 ct. diamonds reflected
in price decline for corresponding rough.
Israel: Trading quiet as dealers take vacation. Bourse services limited from August 6 to 18. Rising interest in online selling. Buyers less particular about fluorescence and tint problem, with shift toward smaller goods for online market. Reduced demand for 0.30 to 0.50 ct. diamonds reflected in price decline for corresponding rough.
India: Positive mood as IIJS show demonstrates stable
domestic jewelry market. Good demand for lower-color (J-K) diamonds. Steady Far
East demand for 0.30 to 0.50 ct., G-I, VS-SI goods. Millennial consumers
shifting away from traditional designs toward lighter-weight jewelry. Larger
retailers and brands gaining market share as smaller jewelers adjust to
demonetization and GST rules.
Hong Kong: Polished trading slow with no upcoming festivals to
boost sales. Sentiment improving ahead of September show as major jewelry
retailers resume growth. Steady demand for 0.50 to 1 ct., D-H, VS-SI, RapSpec
A2+ (3X, no-fluorescence) diamonds. Improving demand for curved fancy shapes.
Buyers looking for goods but pushing for higher discounts.
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Tags:
Rapaport News
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