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Rapaport TradeWire September 24, 2020

Sep 24, 2020 10:38 AM   By Rapaport
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Rapnet 600X160 Gemblog
Rapaport TradeWire
September 24, 2020

Polished prices firm amid shortages and improving holiday orders. Trading restrained due to continued rise in Covid-19 cases. Jewelers preparing 4Q marketing with emphasis on e-commerce strategies to drive growth. Retailers pushing dealers for memo. More manufacturers insisting on cash deals. Steady rough buying during sight week as Surat cutters try to increase production and fill polished supply gaps. De Beers reduces prices by 5% to 10% for rough below 1 ct. Dominion gains $46M at first sale since March. US July polished imports -50% to $806M, exports -25% to $868M. Rapaport offices will be closed on Monday, September 28, due to Yom Kippur.

Alrosa Usa 600 X160 2
Weekly Monthly Y2Y
0.30 ct -0.27% 1.71% 13.22%
0.50 ct 0.26% 3.89% 15.22%
1.00 ct 0.34% 2.83% 1.09%
3.00 ct 0.47% 1.52% -4.39%
RAPI Yearly Graph
600X160 Static 20 Q3 B2 Cwatches Display Sell Timepiece Find Buyers
Market Reports
United States: Bridal segment robust and seeing solid interest in 1 to 2 ct., G-I, VS-SI diamonds...
Belgium: More polished expected to become available next month as manufacturers gradually raise production...
Israel: Rising interest in fine-cut fancy shapes...
India: Some improvement in jewelry sales amid stable gold price...
Hong Kong: Expectations for good retail sales in mainland China during October 1 Golden Week...
Amipi Rapnet Tradewire
Trend Report: Covid-19 Driving Move to Digital
WITH John Costello

Jewelers are preparing their holiday marketing with an emphasis on e-commerce, part of a notable shift in the industry toward embracing online solutions.

Engagement-Ring Resale Market Booming Amid Pandemic
Sale of Ekati Raises Hopes of Imminent Reopening
Diamantaire Charged with Fraud in $30M Scheme
China Arrests 121 for Diamond Smuggling
Trade Wire 600X160 April 2018
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De Beers Reduces Prices of Smaller Rough
Miner makes cuts of 5% to 10% for goods under 1 carat.
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Diamond Grading Gets an International Standard
New ISO guide aims to reduce inconsistency among labs.
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Rough Sales Pick Up as Market Begins Rebound
Mountain Province, Lucapa and Alrosa see “encouraging” signs.
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LVMH-Tiffany Trial Set for January
Court approves US jeweler’s request to fast-track lawsuit.
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Charles & Colvard Embraces Lab-Grown Diamonds
Moissanite maker creates line of bridal and fashion jewelry.
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Diamond Sales Set for Resurgence – De Beers
Women are wearing more diamond jewelry than in previous Covid-19 waves.
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Tiffany to Track Diamonds Down to the Mine
Retailer plans 100% traceability by 2025.
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Dominion Restarts Rough Sales
Miner brings in $46 million at first tender since March.
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Alrosa Names New Belgium Chief
Akil Zubir previously ran the miner’s insurance division.
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Letšeng Yields Two More Large Stones
Gem Diamonds recovers 166-carat white and 77-carat yellow.
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Zimbabwe State Diamond Miner Gets New CEO
Mark Mabhudhu will help government body achieve goal of $12 billion in revenue by 2023.
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VicenzaOro Lifts Sentiment Despite Slow Sales
Attendance at Italian show well below pre-pandemic levels.
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Jewelers of America Seeks Answers on Diversity
Study addresses hiring practices, inclusion and racial discrimination.
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IGI Enhances Security of Grading Reports
Institute adds protective features, including lab’s seal and tamper-evident label.
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Bonhams Appoints Hong Kong Jewelry Head
Leslie Roskind was previously the auction house’s senior specialist for New York division.
Adt200074 Rapaport Scholarship 600X160
Diamond Industry Stock Report

Global stocks took another tumble this week as investors worried about uncertainty surrounding a resurgence of Covid-19 cases and whether the US government would provide a further stimulus package. Retail shares including Macy’s (-13%), Luk Fook (-9%), Richemont (-6%), Chow Sang Sang (-5%) and Signet (-4%) all slid. Mining also fared poorly, with Anglo American (-7%), Lucapa (-6%), Lucara (-6%) and Alrosa (-3%) all losing steam. Mountain Province (+5%) bucked the trend after encouraging results from its first rough sale since March.  

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