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Rapaport TradeWire November 11, 2021
Nov 11, 2021 10:54 AM
By Rapaport
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| November 11, 2021 | | RAPAPORT MARKET COMMENT | | | | Polished trading robust; US holiday orders driving demand. Bridal strong ahead of December engagement season, with spike in weddings expected in 2022. Designers using alternative shapes to satisfy consumer interest in unique jewelry. Rough demand steady and prices high during De Beers sight. Alrosa Oct. rough sales -2% to $293M. Lucara 3Q revenue +76% to $73M, profit of $13M vs. loss of $5.4M. Christie’s Geneva sells $59M (93% by lot), with pair of Marie Antoinette diamond bracelets going for $8M. Pluczenik partners with Nungu Diamonds in new South Africa polishing factory. Mountain Province appoints Mark Wall as CEO. Industry mourns the passing of Helene Fortunoff. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.42% | -1.01% | -3.59% | | 0.50 ct | -0.45% | -1.18% | -2.02% | | 1.00 ct | -0.16% | -0.41% | 13.41% | | 3.00 ct | 0.25% | 0.71% | 12.92% | | | | 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: 1 ct. and larger expensive and in demand... | | | | | Belgium: Shortages in best-quality rounds, fancies and color diamonds... | | | | | Israel: Diamonds below 0.70 ct. weakening... | | | | | India: Jewelers report strong retail sales over festive period... | | | | | Hong Kong: Retail improving as Covid-19 restrictions ease... | | | | | | | Lower Rough Supply Driving Greater Efficiency | | | | WITH AVI KRAWITZ |
Global diamond production has dropped and is unlikely to return to pre-pandemic levels for many years. This will result in a tighter supply chain and stiffer competition for goods, as the November Rapaport Research Report outlines. | | | | | WEEKLY NEWS | | | | | | De Beers Raises Prices of Cheaper Rough Diamonds | | Increases reflect strong US polished demand ahead of holidays. | | | | | Alrosa Ups Production Outlook in Strong Market | | Revenues soared 56% in third quarter. | | | | | Conflict-Diamond Definition Back Under Scrutiny | | WDC president reiterates call for reforms at Kimberley Process plenary. | | | | | Fancy-Color Price Index Climbs in Third Quarter | | Category sees increase of 1.1% for three months ending September 30. | | | | | Marie Antoinette Diamonds Shatter Estimate | | Bracelets fetch $8.2 million at Sotheby’s Magnificent Jewels auction in Geneva. | | | | | India Draws Up Rules to Prevent Certificate Fraud | | Diamond Charter aims to stem circulation of grading reports that aren’t accompanied by a stone. | | | | | Antwerp’s Pluczenik Launches South Africa Factory | | Company partners with local manufacturer Nungu Diamonds. | | | | | Smuggled Romanov Jewels Bring In Big Bucks | | Ceylon sapphire and diamond brooch and earrings sell for $850,000 at Christie’s in Geneva. | | | | | | | | | Watches of Switzerland Continues US Expansion | | Mayors owner has acquired six new locations, as well as the Betteridge brand. | | | | | Supply Issues Hit Berkshire Hathaway Retail Sales | | Growth slows to 8% in third quarter. | | | | | Sales Bounce Back at Indian Cutter Asian Star | | Revenues more than double in second fiscal quarter. | | | | | | | | | ‘Solid’ Demand, Limited Supply at Alrosa Sale | | Revenues steady in October as inventory was insufficient to meet buyers’ needs. | | | | | Mountain Province Back in the Black | | Sales jump and profit returns amid recovery in rough market. | | | | | Gemfields Unearths 7,525ct. Emerald | | Chipembele stone — meaning rhino — is largest in Kagem mine’s history. | | | | | | | | | Belgium Polished Exports Jump Again | | Shipments increased 32% year on year in September. | | | | | Israel Diamond Shipments Continue Upward Trend | | Polished exports more than tripled in October. | | | | | Mountain Province Hires Mark Wall as CEO | | Mining veteran will also become company president and a director. | | | | | Jewelry Matriarch Helene Fortunoff Dies | | Trailblazing entrepreneur founded eponymous business in 1957. | | | | | China’s Polished Imports More Than Triple | | Strong domestic consumer demand boosted diamond shipments in first nine months of 2021. | | | | | | 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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