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Rapaport TradeWire January 7, 2021
Jan 7, 2021 11:05 AM
By Rapaport
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| January 7, 2021 |
| RAPAPORT MARKET COMMENT |
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Diamond trade ends challenging 2020 with 1 ct. RAPI +5.8%. Firm polished prices reflect inventory decline after significant drop in manufacturing and rough sales. Optimism for 1Q as jewelers and dealers seek goods following the holiday season. Retail outlook still cautious amid spike in global Covid-19 infections. Lockdowns may curb jewelers’ inventory replacement efforts. Rising expectations for China jewelry sales ahead of Feb. 12 lunar festival. Tiffany & Co. Nov./Dec. sales +2%, Asia Pacific +20%, Americas -5%, e-commerce up more than 80%. Titan Company jewelry sales +15% during 3Q Diwali period. Russia resumes KP chairmanship after 2020 meetings suspended
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| RAPNET DIAMOND INDEX (RAPI™) |
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| Weekly | Monthly | Y2Y |
| 0.30 ct |
-0.17% |
-0.47% |
-0.10% |
| 0.50 ct |
-0.24% |
0.32% |
11.40% |
| 1.00 ct |
0.32% |
2.53% |
5.89% |
| 3.00 ct |
-0.51% |
2.40% |
3.51% |
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| 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. |
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| Market Reports |
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United States: Positive sentiment as retail jewelers report steady holiday sales... |
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Belgium: Businesses with export focus doing better than those relying on local European buyers... |
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Israel: Suppliers maintaining steady prices due to inventory declines... |
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India: Manufacturers raising polished production in response to prevailing shortages... |
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Hong Kong: Fancy shapes moving well in 2 to 3 ct. sizes... |
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| RAPAPORT NEW YEAR MESSAGE |
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| WITH Martin Rapaport |
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In his annual letter to the trade, Martin Rapaport acknowledges that a powerful transformation of the political, economic and social order is currently underway. These developments will have a great impact on society’s values, and will dramatically change how, when, where and why people buy jewelry.
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| WEEKLY NEWS |
| industry |
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| Diamond Prices Firm After Supply Declines |
| Industry begins 2021 with healthiest inventory balance in five years. |
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| US Economy Won’t Recover Fully Until ‘Late 2021’ |
| Stimulus will help, but there are still many uncertainties, National Retail Federation says. |
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| Tiffany to Sell Its Most Expensive Diamond |
| Jeweler will reveal necklace in 2022 at reopening of Fifth Avenue flagship store. |
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| Russia to Chair Kimberley Process in 2021 |
| Organization defers country’s one-year role due to pandemic. |
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| retail |
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| US Online Holiday Jewelry Sales Jump |
| Category up 66% year on year, Adobe says. |
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| Tiffany Holiday Sales Reach All-Time High |
| Revenue up 2% amid sharp China growth and strong e-commerce results. |
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| LVMH Replaces Tiffany CEO as Deal Closes |
| Louis Vuitton executive Anthony Ledru to succeed Alessandro Bogliolo. |
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| Hong Kong Retail Sees Gradual Recovery |
| November decline in hard-luxury sales is gentlest since mid-2019. |
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| Titan Revenue Buoyed by Wedding-Jewelry Sales |
| Release of pent-up demand drives 15% rise during third fiscal quarter. |
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| Online Gold Jeweler Mene Sees Sales Jump |
| Revenue up 64% in 2020 as budding retailer ramps up operations. |
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| mining |
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| Lucara Receives 25-Year Karowe License |
| Approval from Botswana government boosts miner’s plans for underground expansion. |
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| general |
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| ‘Naturalmark’ Aims to Defeat Undisclosed Synthetics |
| Indian project will stamp diamonds and jewelry with consumer label. |
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| In Memoriam: Henry Verstandig |
| Death of former industry leader marks end of generation that founded New York’s diamond district. |
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| Gemologist Walter William Hanneman Dies at 93 |
| Self-taught expert authored “Guide to Affordable Gemology.” |
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| FINANCE |
| Diamond Industry Stock Report |
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US retail stocks benefited from the new government stimulus and Congress’s confirmation of Joe Biden’s election victory. Signet (+19%), Macy’s (+4%) and Walmart (+2%) all rose. Meanwhile, European shares fell amid the spread of a new coronavirus strain that originated in the UK. Pandora (-7%), Kering (-4%) and LVMH (-1%) lost ground. Mining had a positive week, with Lucara (+28%), Lucapa (+21%), Mountain Province (+17%), Rio Tinto (+13%) and Anglo American (+13%) increasing.
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| © Copyright 2021 Martin Rapaport. All Rights Reserved. |
| Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. |
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