According to the report of Jewelers Board of Trade (JBT), US jewelry industry contracted further impacted by the fact that bankruptcies and closures outnumbered new arrivals to the sector, reported. The number of businesses on the JBT\u2019s books declined 4.4% to 25,102 in 2018, continuing the downward trend recorded over the past few years.<\/p>\n
Weekly Market Summary:<\/strong><\/p>\n Trading relatively quiet as jewelers begin restocking after holiday season. Top-tier independents\u00a0and luxury retailers outpacing large jewelry chains: Signet Jewelers Nov.\/Dec. sales -3% to $1.8B, Richemont\u2019s Cartier and Van Cleef & Arpels 3Q revenue +9% to $2.3B, Forevermark 2018 US sales +8%. Cautious outlook for Chinese New Year as Chow Tai Fook 3Q same-store sales -7% in China, -6% in Hong Kong\/Macau. India trade uncertain due to tightening bank credit, slim profit margins, and excess inventory of unwanted lower-quality polished. Rough prices and supply expected to be steady at next week\u2019s De Beers sight. India 2018 polished exports +6% to $24.4B, rough imports -9% to $16.9B.<\/p>\n Fancies:<\/strong> Fancy-shape market stable, driven by US and European demand for fashion jewelry.\u00a0Ovals are best sellers, followed by Emeralds, Cushions and Pears. Supply shortage supporting\u00a0prices for Pears. Radiants improving. Marquises and Princesses weak. Oversizes selling well.\u00a0Steady demand for fine-quality 6 to 10 ct. Ovals, Pears and Emeralds, with prices firming for 3 to 5 ct. due to shortages. Chinese consumers seeking fancy shapes at better prices. US supporting market for commercial-quality, medium-priced fancies under 1 ct. Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts.<\/p>\n United States:<\/strong> Sentiment positive, with dealers and jewelers relatively satisfied with holidayseason results. Buyers remain price-sensitive and selective while looking for goods to replenish reduced inventory levels. Steady demand for 0.50 to 0.70 ct., H-J, SI-I1, lower-quality parcel goods for stud jewelry. Shortage of excellent-quality large stones above 10 ct. Bridal and\u00a0engagement ring sales firm as consumers prepare for Valentine\u2019s Day.<\/p>\n Belgium:<\/strong> Polished prices stable amid slow trading. Big-stone dealers doing well, with improving demand for large fancy shapes. Dossiers below 1 ct. firm. Steady orders for 1 to 3 ct., G-J, VS-SI, 3X diamonds. A lot of goods still out on memo. Rough market quiet ahead of next week\u2019s De Beers sight.<\/p>\n Israel:<\/strong> Dealers cautious, waiting to assess the market impact of US holiday results, Chinese New Year demand, and rough prices at De Beers Jan. sight. Notable rise in inventory of 1 ct., I-M, IF-SIproducts. Spike in availability of 0.30 ct., I-M, VS, RapSpec A3+ diamonds. Suppliers hoping bourse\u2019s International Diamond Week (Jan. 28 to 30) and the Hong Kong show (Feb. 28) will boost trade.<\/p>\n India:<\/strong> Activity slower than usual for January. Dealers focused on China and Hong Kong for\u00a0Chinese New Year period. Domestic demand steady as jewelers push bridal during ongoing\u00a0wedding season. Manufacturers remain cautious due to tight profit margins, with factories operating below capacity since Diwali. Suppliers holding stock in preparation for Hong Kong\u00a0show.<\/p>\n Hong Kong:<\/strong> Good wholesale trading as jewelers enter peak Chinese New Year selling season.\u00a0Jewelry manufacturers starting to close for the season, but dealers will operate until the last\u00a0minute. Retailer\u2019s concerned cautious economic outlook will affect consumer sentiment. Solid\u00a0market for 0.30 to 0.70 ct., G-K, VS-SI, 3X diamonds; collection goods weaker. Rising consumer\u00a0interest in fancy shapes.<\/p>\n (Source: Rapaport News)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" According to the report of Jewelers Board of Trade (JBT), US jewelry industry contracted further impacted by the fact that bankruptcies and closures outnumbered new arrivals to the sector, reported. The number of businesses on the JBT\u2019s books declined 4.4% to 25,102 in 2018, continuing the downward trend recorded over the past few years. Weekly […]<\/p>\n","protected":false},"author":3,"featured_media":3696,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[3266,3007],"class_list":["post-3695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-jewelers-board-of-trade","tag-weekly-market-summary"],"aioseo_notices":[],"yoast_head":"\n