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Rapaport TradeWire
April 15, 2021
RAPAPORT MARKET COMMENT
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Polished market seasonally slow. Uncertainty over impact of Mumbai lockdown as Maharashtra state tightens restrictions. GIA backlog expected to grow as Surat continues to produce diamonds. Concerns in colored-diamond market as GIA detects treatment in green stones. US retail upbeat as Mar. jewelry sales +106%, reports Mastercard. Signet 1Q forecast for revenue +88% to $1.6B. LVMH 1Q jewelry and watch sales +138% to $2.3B. Christie’s NY garners $35M (94% by lot), with 2.17 ct., fancy vivid purplish-pink diamond sold for $3.5M ($1.6M/ct.). Rapaport Research Report highlights improved trade liquidity and diamond financing.

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RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct -0.51% -2.01% 4.70%
0.50 ct -0.32% -1.51% 15.14%
1.00 ct 0.08% 0.76% 16.06%
3.00 ct 0.64% 1.03% 4.47%
RAPI Yearly Graph
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Market Reports
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United States: Consumer spending getting boost from stimulus checks, tax refunds, and return to stores after vaccine rollout...
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Belgium: Suppliers to US and China optimistic, but Europe weak as lockdowns keep many jewelers closed...
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Israel: Solid interest in 1 to 2 ct. diamonds...
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India: Surat manufacturing still going despite rise in Covid-19 cases...
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Hong Kong: Sentiment improving amid city’s plans to relax travel restrictions and potentially reopen China border crossing...
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Diamantaires Emerge from Crisis with Credit
WITH Avi Krawitz

The diamond trade reduced its reliance on credit during Covid-19 and has adopted better compliance, governance and transparency standards in recent years. That should position the midstream well as the recovery takes shape. The Rapaport Research Report assesses the vast improvements in the relationship between diamantaires and their lenders.

UPS AND DOWNS
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Watch Brand Piaget to Open More Stores This Year
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Fashion Labels Look to Leave Lasting Legacy in Jewelry
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Gold Demand to Stay Lackluster Despite Festive Season
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Jewelers Make Slow Progress on Responsible Supply
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WEEKLY NEWS
retail
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Signet Raises Outlook After Strong Start to 2021
Retailer expects first-quarter growth of up to 88%.
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Tiffany Propels LVMH Jewelry Sales
First-quarter revenue for category rises 138% year on year and increases 1% from 2019.
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US Jewelry Sales Skyrocket in March
Figure up 106% year on year, Mastercard SpendingPulse reports.
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Pandora Revenue Rises in First Quarter
Sales increase 13% despite temporary closure of more than one-third of stores.
industry
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Mumbai Diamond Trade Exempt from Lockdown
Bourse reopens after state government allows import and export activities to continue.
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US Bans Major Myanmar Gem Company
State-owned mining and marketing entity joins government blacklist.
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Colored-Diamond Trio Fetches $8M at Christie’s
Perfect Palette steals show at New York Magnificent Jewels auction.
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Manufacturers Use Green Glass to Mimic Tourmaline
Two shards imitating expensive Paraiba variety turn up at GIA’s Carlsbad lab.
mining
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Alrosa Sales Surge in March
Manufacturers continue to restock amid strong demand in US and China.
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Zimbabwe’s Murowa Mine Sees Output Fall
Production drops 15% due to extraction of lower-grade ore.
general
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US Polished Imports Return to Downward Trend
Shipments fall 7% in February after stabilizing in January.
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Gemological Science International Opens in Jaipur
New location will tap into Indian city’s heritage as center for colored stones.
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Gemfields Holds First Ruby Sale Since 2019
Mozambique mine resumes operations after hiatus of almost a year.
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FINANCE
Diamond Industry Stock Report
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Retail stocks rose as the global economy continued to reopen. Chow Sang Sang (+9%), Kering (+5%), LVMH (+4%) and Macy’s (+4%) all gained. Signet (+13%) climbed after increasing its sales forecast. Miners had a good week overall, with Gem Diamonds (+7%), Lucara (+3%), Lucapa (+2%) and De Beers owner Anglo American (+2%) all up. Mountain Province (-9%) was the exception after a temporary shutdown of its mine dented production.

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