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Rapaport TradeWire December 10, 2020

Dec 10, 2020 10:25 AM   By Rapaport
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Rapnet Holidays
Rapaport TradeWire
December 10, 2020
RAPAPORT MARKET COMMENT
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Jewelers upbeat about holiday season amid strong e-commerce and lucrative early gift shopping. Last-minute US orders and preparations for Chinese New Year driving polished trading. China jewelry market robust. Luxury demand good at NY auctions: Christie’s sells $45M (91% by lot) including Kashmir sapphire and diamond bracelet to Harry Winston for $6M. Sotheby’s raises $47M, with heart-shape, 1.71 ct., fancy red, SI2 diamond going for $3.2M ($1.9M/ct.). Rough market very active during sight week. Manufacturers anticipate firm post-holiday inventory replacement. Dominion sells Ekati mine to bondholders. Next year’s March Hong Kong shows and AGS Conclave postponed due to pandemic.

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RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct 0.07% -0.99% 2.20%
0.50 ct -0.31% -1.71% 12.67%
1.00 ct -0.02% 0.64% 3.54%
3.00 ct 0.25% 2.47% 2.15%
RAPI Yearly Graph
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Market Reports
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United States: Sentiment positive as dealers fill orders in time for peak pre-Christmas period...
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Belgium: Wholesale businesses able to operate during lockdown, which is scheduled to end next week...
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Israel: Some planning for 2021 and expecting improved momentum during first quarter...
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India: Rough purchasing robust as manufacturers raise production levels to alleviate scarcities...
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Hong Kong: Local retail sluggish due to another spike in Covid-19 infections and lack of tourism during peak selling season...
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Human Rights, Diamonds and Covid-19
WITH The Rapaport Diamond Podcast

The diamond and jewelry industry has made important strides in its responsible sourcing practices, but cannot become complacent, especially during the pandemic, explains Juliane Kippenberg of Human Rights Watch.

Botswana Ready to Leverage Its Diamond Supply
WITH Avi Krawitz

The pandemic has had a significant impact on Botswana’s economy, highlighting its continued reliance on the diamond industry and De Beers, as the December Rapaport Research Report examines. Has Covid-19 brought the two partners closer as they prepare to thrash out a new partnership agreement?

Coveted: Art and Innovation in High Jewelry
WITH Jewelry Connoisseur by Rapaport

Interviewing over 70 designers, author Melanie Grant explores the artistic, emotional and historical value of high jewelry.

UPS AND DOWNS
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Inclusion Initiatives Give Disabled Namibians Bright Future
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The Latest Pandemic Trend: Getting Engaged
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Man Gets Six Years for $25M Diamond Ponzi Scheme
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Indian Jewelry Exporters Seek Equalization Levy Relief
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Trade Wire 600X160 April 2018
WEEKLY NEWS
industry
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Gang Burglaries Drive Rise in Crime Losses
Small number of high-value thefts responsible for sharp 2019 increase, Jewelers’ Security Alliance reports.
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Hong Kong March 2021 Shows Postponed
Diamond and jewelry fairs now scheduled for July.
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Harry Winston Wins Top Item at Christie’s NY
Kashmir sapphire and diamond bracelet sells for $6M at Magnificent Jewels auction.
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India, Angola Eye Closer Trade Ties
African country seeks export destinations for its growing rough production.
retail
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De Beers Collaboration Rethinks Engagement Rings
Blue Nile will sell limited-edition pieces from 10 jewelry designers.
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Pandora Warns of December Sales Slowdown
Demand strengthens in November following early start to holiday promotions.
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Michael Hill Forecasts Half-Year Profit
Same-store sales rise 8% in 22 weeks to November 29.
mining
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Dominion Finds Buyer for Ekati
Miner will still retain its 40% stake in Diavik.
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Alrosa Sales Continue to Grow
November sees highest diamond revenue since January.
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Lucapa Recovers 127ct. Diamond in New Mining Area
Stone is third over 100 carats company has found at Lulo deposit this year.
general
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Diamond Foundry Opens Dubai Sales Office
Silicon Valley-based company is latest synthetics producer to become DMCC member.
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American Gem Society Postpones April Conclave
US organization now plans to hold the event in the fall of 2021.
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Kashmir Sapphire Beats Estimate at Bonhams
Brooch sells for $1.1 million at New York Jewels auction.
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India’s Gem, Jewelry Exports Show Recovery
Decline narrows to 4% in November as emergency measures pay off, GJEPC reports.
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Industry Group Hands Out Spectrum Awards
AGTA adds new honors for North American Mined Gemstones and Best of Single Entries.
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FINANCE
Diamond Industry Stock Report
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Global retail stocks dropped following rising doubts over whether the US would pass a new stimulus bill, and the failure of the UK and the European Union to reach a Brexit trade deal. Signet (-8%), Chow Sang Sang (-7%), Luk Fook (-6%) and Kering (-5%) all fell. Macy’s (+7%) bucked the trend. Mining shares had a relatively positive week, with Petra (+34%), Lucapa (+6%), Alrosa (+3%) and Mountain Province (+3%) gaining. 

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