Growth during the 2012 Christmas season was 3.5% and the 10-year average rate of growth is 3.3%. retail sales, excluding automobiles, in the months of November and December to increase 3.9% year on year to $602.1 billion. The National Retail Federation (NRF) expects U.S. Manufacturers reported a lack of profitability in rough that become polished diamonds in sizes below 0.30 carats. Manufacturers indicated that voluntary reduction in production might continue, and even intensify in 2014, if they do not see a return to sustained profitability in the polishing of rough diamonds. The GJEPC met with prominent medium- and large-scale diamond manufacturers to address challenges faced by the cutting and polishing sector. Banks have limited financing options, too, which is having a severe impact on the diamond business. The Gems & Jewellery Export Promotion Council (GJEPC) said manufacturers have already reduced their factory output in the past few months due to the lack of profitability resulting from high rough prices, volatility in the rupee and a slowdown in demand. India’s influential diamond manufacturing sector pledged to maintain production at levels up to 50% lower than what is typical for the fourth quarter in an attempt to manage the liquidity crisis plaguing the industry. Other trends in the month demonstrated steady yet selective trade from the Hong Kong show with a focus on 0.30-carat to 0.50-carat, H and lower, VS-SI goods tighter bank lending India’s foreign currency becomes a crisis rough trading on the secondary market turns quiet and De Beers reduced prices on Indian boxes and raised prices on goods that yield polished in the popular 0.30-carat to 0.50-carat sizes. RAPI for 0.30-carat is up 6.4% year on year, but RAPI for 0.50-carat is down 3.8%, 1-carat is lower by 5.5% and 3-carat is off by 3.9%. The RapNet Diamond Index (RAPI™) for 1-carat certified diamonds fell 0.3% in September from August but RAPI for 0.30-carat diamonds rose 0.4%, while 0.50-carat and 3-carat diamonds were both flat. High rough diamond prices have disrupted manufacturing activity as polished suppliers focus on depleting existing high levels of inventory. Price sensitive Far East buyers shifted to commercial-qualities, while tight liquidity and weak domestic demand reduced trading in India. View jobs now.Ĭertified polished diamond prices were stable in September with significantly reduced trading volume. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. If you wish to work with the best and brightest, join us. Jack Kleinhenz | National Retail Rapaport Group is growing rapidly. consumer and their confidence in our economy. Our forecast leaves room for improvement, while at the same time provides a very realistic look at the state of the U.S. In order for consumers to turn out this Christmas season, we need to see steady improvements in income and job growth, as well as an agreement from Washington that puts the economic recovery first. economy continues to expand, albeit at an unspectacular pace. Get Current Price List | Subscribe to Rapaport | Join RapNet polished exports +36% to $1.9B, rough imports +33% to $682M. Encouraging start to China’s Golden Week with steady gold jewelry demand. India’s pre-Diwali market demand very weak. Indian cutters reducing production by 30-50% as trade organizations discourage purchases of high priced rough. De Beers drops some prices but boxes still trading at discounts. Strong price-point demand for commercial SI-I1 qualities. 4, 2013ĭiamond trading slow with cautious demand for better qualities.
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