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Rapaport TradeWire June 3, 2021
Jun 3, 2021 10:50 AM
By Rapaport
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| June 3, 2021 | | RAPAPORT MARKET COMMENT |  | | Supply shortages driving uptrend in prices. 1 ct. RAPI +0.8% in May. Inventory declining; number of 0.30 to 0.50 ct., RapSpec A3+ stones on RapNet -23% since April 1. Large US and Chinese retailers stimulating demand. Scarcities and rising prices making it hard for dealers to replenish polished goods. Major suppliers with inventory and efficient online systems are selling at strong premiums compared to smaller firms with limited e-commerce platforms. Rough trading robust ahead of next week’s De Beers sight. Items on secondary market achieving high profits as small-scale manufacturers struggle to source rough. Covid-19 outbreak causing mining disruptions in Canada. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.20% | 0.90% | 8.32% | | 0.50 ct | 0.40% | 1.31% | 15.58% | | 1.00 ct | 0.28% | 0.87% | 19.06% | | 3.00 ct | -0.33% | 1.51% | 14.07% |  | | The RapNet Diamond Index (RAPI™) is the average asking price in hundred $/ct. of the 10 percent best priced diamonds, for each of the top 25 quality round diamonds (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better) offered for sale on RapNet - Rapaport Diamond Trading Network. | | | | Market Reports | | |  | United States: High sell-through rate on memo calls... |  |  | Belgium: Selling mainly taking place online since international buyers are still subject to travel restrictions... | | |  | Israel: Dealers making money off inventory they bought in April-May but finding it hard to replace goods they’ve sold. | | |  | India: Polished scarcities driving robust rough trading... | | |  | Hong Kong: Concerns that more Chinese buyers are going directly to Indian suppliers and cutting out Hong Kong dealers... | | |  | | | The personal touch |  | | WITH Jewelry Connoisseur by Rapaport | Catering to a customer is important in the jewelry industry, but building a relationship is what will bring people back to your store, writes Leah Meirovich. |  | | | Diamond Shortages Driving ‘Crazy’ Rough Prices |  | | WITH Joshua Freedman | India is experiencing a scarcity of diamonds, as rough supply has dropped and polished goods remain stuck at the Gemological Institute of America (GIA). | | | | | WEEKLY NEWS | | industry | | | | Steady Demand Lifts Diamond Prices | | Sentiment positive in May amid upbeat jewelry sales in US and China. |  | | | India’s Domestic Trade Pleads for Financial Help | | Industry body calls for government support amid severe impact of lockdowns. | | | | | US Suspends Jewelry Tariffs by Six Months | | Fresh duties on Indian goods could still go into effect in November. | | | | | Diamond Acquisition Pays Off for Israeli Lender | | Financial institution Peninsula sees profit soar following takeover of Union Bank’s loan portfolio. | | | | | Gem Lab IGI Pledges to Become Carbon-Neutral | | Organization’s New York branch aims to reach goal by 2022. | | | | | retail | | | | US Jewelry Demand Bounces Back | | After the 2020 lockdowns, retailers are anticipating a busy summer. | | | | | Hong Kong Cautious Amid Sluggish Sales | | April retail revenue far below pre-pandemic levels as tourism remains frozen. | | | | | Asian Star Full-Year Revenue Falls | | Coronavirus lockdowns dent annual sales by 16%. | | | | | mining | | | | Covid-19 Outbreak Interferes with Ekati Operations | | Health authorities recommend mine workers enter quarantine after three positive cases. | | | | | Diamcor to Overhaul Facilities at Mine | | Company hopes to double processing volumes at Krone-Endora project in South Africa. | | | | | general | | | | China, US Drive Recovery in Swiss Watch Exports | | Shipments return to pre-pandemic levels in April. | | | | | Fancy-Color Group Expands Advisory Board | | FCRF adds industry veteran Thomas Gelb. | | | | | New Gem and Jewelry Show to Debut in US | | HardRock Summit to take place this September in Denver, Colorado. | | | | | Grib Taps Sarine’s Traceability Tech | | Antwerp-based rough trader to provide source verification for its goods. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global retail stocks gained amid investor optimism about the US economy. Richemont (+7%), Swatch (+5%), Chow Sang Sang (+5%), Luk Fook (+4%), Signet (+4%) and Macy’s (+3%) all rose. Meanwhile, miners had a mixed week, with Mountain Province (-6%), Lucapa (-4%) and Lucara (-4%) falling, while Gem Diamonds (+8%), Alrosa (+6%), Anglo American (+3%) and Rio Tinto (+2%) increased. | | | | | Contact Us |  |       | | © Copyright 2021 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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