TradeWire® Weekly Email

Date:

July 22, 2021
RAPAPORT MARKET COMMENT
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Market upbeat despite summer lull and high rough prices. Dealers filling orders, spurring confidence for holiday season. US jewelry sales +108% in June, Mastercard reports. Luxury jewelers make strong recovery. Richemont 1Q jewelry maisons’ sales +132% to $3B. Polished prices firm amid supply shortages and consistent demand. Miners drastically reduced rough inventory in 1H; manufacturers raised polished production. De Beers, Alrosa 1H rough prices +14%. De Beers 2Q production +134% to 8.2M cts., sales of 7.3M cts. at $135/ct. Alrosa 2Q production +22% to 7M cts., sales of 11.4M cts. at $96/ct. Belgium June rough imports +187% to $1B. Industry mourns passing of Willie Nagel.

RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct
0.00%
0.30%
7.75%
0.50 ct
-0.04%
1.73%
14.65%
1.00 ct
0.43%
3.51%
23.06%
3.00 ct
0.13%
0.79%
17.65%
RAPI Yearly Graph
Market Reports
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United States: Dealers making good sales but struggling to buy...
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Belgium: Bourses to close August 2 to 22...
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Israel: Finding the right certified stones proving difficult...
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India: Rough prices prompting concerns about manufacturing profitability...
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Hong Kong: Luxury shoppers absent from high-end Hong Kong malls...
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A Call for Synthetics Transparency
WITH AVI KRAWITZ

Better disclosure and a more coherent structure would help the lab-grown diamond sector raise its profile and improve relations with the natural market, Rapaport Senior Analyst Avi Krawitz argues in this week’s “Field Notes” column.

UPS AND DOWNS
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WEEKLY NEWS
industry
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De Beers Prices Up 14% Since Start of Year
Miner cites supply shortages and strong polished demand.
Diamond Broker Willie Nagel Dies
Born in Romania, he was a pioneer of the Kimberley Process.
retail
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US Retail Sales Upbeat in June
Revenue 0.6% higher than previous month, NRF says.
De Beers Unites Retail Brands Under One CEO
Céline Assimon, head of De Beers Jewellers, takes on same role at Forevermark.
‘Outstanding’ Jewelry Sales Boost Richemont
Category up 132% in first quarter.
Luk Fook Sales Rise in First Quarter
Relaxed border restrictions in Hong Kong and Macau buoyed figures.
Michael Hill Sales Climb as Stores Reopen
Lockdowns in past quarter were less severe than a year ago.
mining
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Alrosa Sales Jump to Pre-Coronavirus Levels
Inventories shrank 68% year on year amid buoyant rough demand.
Record Big-Stone Sales Boost Petra Results
Revenue up 38% in fiscal year ending June 30.
Lower Grades Dent Diavik Output
Production from Canada mine fell 12% in second quarter, Rio Tinto says.
general
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Everledger, GCAL Partner on Diamond Origin
Blockchain provider and lab will share provenance and grading data to offer greater traceability.
Israel Diamond Institute Elects Chairman
Arnon Juwal will take over following Yoram Dvash’s resignation.
Swiss Watch Exports Show Sharp Uptick in June
Shipments exceeded pre-pandemic levels thanks to growth in US and China.
India’s Polished Trade Extends Recovery
June saw eighth consecutive year-on-year rise in exports.
FINANCE
Diamond Industry Stock Report
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A number of variables weighed on global retail stocks, including investor fears over the Covid-19 Delta variant, a supply logjam, and dwindling consumer sentiment. Signet (-6%), Swatch (-6%), Macy’s (-3%), Pandora (-3%), Kering (-2%) and Luk Fook (-1%) all fell. Miners faced a challenging week, with declines at Lucapa (-7%), Gem Diamonds (-5%), Lucara (-4%), Alrosa (-4%) and Rio Tinto (-2%). Petra (+18%) gained following strong revenue figures.

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