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Rapaport TradeWire July 8, 2021
Jul 8, 2021 10:47 AM
By Rapaport
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| July 8, 2021 | | RAPAPORT MARKET COMMENT | | | | Polished trading seasonally slow due to US summer vacations. Market optimistic for holiday season. Steady demand, shortages and high rough costs supporting prices. 1 ct. RAPI +2.7% in June. Cutters under pressure to raise production but concerned about rough valuations ahead of De Beers’ July 12 sight. Kimberley Process reports 2020 global rough production -32% to $9.24B, volume -23% to 107.1M cts., average price -12% to $86/ct. Belgium May polished exports +161% to $555M, rough imports +362% to $664M. Titan Company 1Q revenue +117%. Birks Group FY sales -16% to $116M. Alrosa launches provenance program using nanotechnology for diamond tracking. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.83% | 0.82% | 9.43% | | 0.50 ct | 0.23% | 1.12% | 15.49% | | 1.00 ct | 0.22% | 1.02% | 20.77% | | 3.00 ct | -0.33% | 0.68% | 17.94% | | | | 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: Fewer memo calls for single stones, in line with seasonal expectations... | | | | | Belgium: Dealers frustrated by delays at Gemological Institute of America (GIA) and by general supply scarcities... | | | | | Israel: Mixed mood in the rough sector; stable orders filling shortages, but high prices prompting restraint... | | | | | India: Surat manufacturing levels below capacity due to Covid-19 restrictions and high rough costs... | | | | | Hong Kong: Hopes high that China border will reopen at end of July and enable tourist shoppers to return... | | | | | | | The Road to Recovery | | | | WITH RAPAPORT MAGAZINE | The diamond industry is in its healthiest state in over a decade, but it will need to be proactive if it wants to maintain that progress. This analysis from the July issue of Rapaport Magazine — the first in a series of articles on the recovery — explores the trade’s rebound from the pandemic and its prospects moving forward. | | | | | Signet Makes Inspired Turnaround | | | | WITH AVI KRAWITZ | Under its three-year Path to Brilliance program, Signet Jewelers cut costs and invested in digital — measures that empowered it to cope with the 2020 economic crisis better than most. Rapaport Senior Analyst Avi Krawitz examines the company’s strategies in the July Rapaport Research Report and his weekly “Field Notes” column. | | | | | A Study in Scarlet | | | | WITH JEWELRY CONNOISSEUR BY RAPAPORT | With their vivid pigeon’s blood hue, Burmese rubies exert a magnetic pull on collectors and auctioneers alike – and their value is on the rise. | | | | | WEEKLY NEWS | | | | | | Diamond Prices Firm Amid Optimistic Outlook | | Upward trend reflects steady demand, shortages in some categories, and high cost of buying rough. | | | | | Diamond Suppliers Anticipate Positive Season | | Sales continue to climb, but replacing inventory has become expensive. | | | | | Tensions Rise over Definition of Conflict Diamonds | | Civil Society locks horns with China at climax of Kimberley Process meeting. | | | | | Alrosa Launches Tracking Method for Diamonds | | Nanotechnology enables customers to check origin by scanning invisible nano-mark. | | | | | Diamond Production Plunges in 2020 | | Global rough output down 32% by value, Kimberley Process figures show. | | | | | | | | | Signet Climbs Up List of Top 100 Retailers | | Jeweler ranks 78th in terms of annual sales, rising from last year’s position of 98th. | | | | | India’s Titan Weathers Covid-19 Wave | | Sales jump amid less severe shutdown than a year earlier. | | | | | Store Closures Impact Birks Sales | | Full-year revenue falls 16%. | | | | | | | | | Alrosa Continues Restructuring of Mining Units | | Combining Mirny and Nyurba will make running the sites more efficient, company says. | | | | | Manufacturing Partnership Boosts Lucapa Sales | | Share of revenue from Safdico’s polished output contributes to second-quarter jump. | | | | | Ekati’s Covid-19 Outbreak Comes to an End | | Two workers who tested positive recovered at the mine camp and did not require hospitalization. | | | | | Diamond Mine Sells for Just $50K | | Firestone Diamonds has been trying to offload BK11 in Botswana for nearly six years. | | | | | | | | | Christie’s Adds Execs to Watch Department | | Keith Davis will head the Americas division, while Adam Victor will serve as senior consultant. | | | | | Bonhams Hires Senior Jewelry Specialist in London | | Kate Flitcroft joins from Scottish auction house Lyon & Turnbull. | | | | | Belgium Diamond Trade Continues Recovery | | Rough and polished shipments rebound in May. | | | | | | | | Diamond Industry Stock Report | | | Global stocks slid amid investor concerns about the economic recovery. US unemployment claims rose, while coronavirus outbreaks in Europe and Chinese regulatory actions in Hong Kong dented share prices. Retail stocks floundered, with Macy’s (-9%), Swatch (-7%), Signet (-6%), Chow Tai Fook (-6%), Chow Sang Sang (-5%), LVMH (-3%), Kering (-3%) and Richemont (-3%) declining. Miners also had a challenging week. Lucara (-3%), Rio Tinto (-3%) and Anglo American (-2%) all fell. Lucapa (+17%) was the exception. | | | | | 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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