|
|
Rapaport TradeWire May 14, 2020
May 14, 2020 11:09 AM
By Rapaport
|
|
|
| May 14, 2020 | | RAPAPORT MARKET COMMENT |  | | Diamond companies slowly resuming operations. Focus on China and Hong Kong as exports recommence. Some US retailers opening amid significant changes to customer engagement in new digitized, low-touch economy. Major jewelers returning memo inventory and trying to revise supply agreements to include longer payment terms. Dealer market facing liquidity crunch. Rough trading at a near standstill, with enough goods available to satisfy 2Q and 3Q demand. Alrosa in talks to sell $500M-$1B of rough to Gokhran as April revenue -95% to $16M. De Beers launches e-commerce platform for rough sales. Belgium April polished exports -84% to $132M, rough imports -84% to $126M. Rapaport announces certified diamond auction June 8-10 with delivery to Hong Kong. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.19% | -2.00% | -6.39% | | 0.50 ct | 0.88% | -0.67% | -8.44% | | 1.00 ct | 0.93% | 0.81% | -11.80% | | 3.00 ct | -1.07% | -4.68% | -13.40% |  | | 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. | | | | Market Reports | | |  | United States: COVID-19 crisis accelerating shift to online spending... |  |  | Belgium: Dealers still cautious as sales volumes remain low... | | |  | Israel: Israel Diamond Exchange calls for government support of the industry... | | |  | India: Manufacturing limited; some factories given special dispensation to operate... | | |  | Hong Kong: Hong Kong becomes the major post-coronavirus diamond trading center... | | |  | | | Is the Diamond Trade Prepared for Change? |  | | WITH The Rapaport Diamond Podcast | As diamond markets gradually return, the Rapaport Diamond Podcast looks at prospects for the industry during the age of COVID-19. The news team discusses the extent to which things have fundamentally changed in the past three months, and what that means for the trade’s future. |  | | | Staying Relevant in the Coronavirus Era |  | | WITH Avi Krawitz | The industry’s efforts to help society are becoming central to its marketing and messaging during the pandemic and beyond. With consumers increasingly relating to values when choosing what to buy, Rapaport Senior Analyst Avi Krawitz argues that it’s time to celebrate the big heart our sector has. |  | | | WEEKLY NEWS | | industry | | | | Gokhran May Purchase Alrosa Rough | | Shareholder reportedly proposes sale of up to $1.7 billion in diamonds. |  | | | Exports Restart at India’s Bharat Diamond Bourse | | First shipments mostly destined for Hong Kong. | | | | | Mumbai Trade Resumes with 10% of Workers | | State government allows companies to fulfill export commitments. | | | | | Alrosa Halts Polishing Divisions Indefinitely | | Operations will resume when demand increases and the safety situation improves. | | | | | Delgatto to Finance BlueRock’s Diamonds | | Arrangement will grant the miner liquidity until rough prices recover. | | | | | retail | | | | Luxury Market to Contract Up to 35% in 2020 – Bain | | Coronavirus led to 25% drop in first quarter, consultancy firm estimates. | | | | | US Retail Recovery Will Take Time, NRF Says | | Economic growth likely to bounce back in the second half. | | | | | mining | | | | Alrosa Sales Nearly Wiped Out in April | | Revenues hit record monthly low of $15.6 million. | | | | | De Beers Launches Online Rough-Sales Platform | | New e-commerce site enables customers to buy the goods they want at any time of the day. | | | | | Court Orders Release of Dominion’s Diamonds | | Diavik co-owner cannot hold back partner’s share of production as guarantee for missed payments, filing says. | | | | | Lucapa Unearths 171ct. Rough at Lulo | | Stone is fourth-largest recovered from the deposit. | | | | | Lucara Hopeful of Second-Half Rebound | | Company delays expansion of Karowe mine. | | | | | general | | | | Christie’s to Sell Record D-Color Online | | Emerald-cut, 28.86-carat diamond ring is estimated at $1 million to $2 million. | | | | | Antwerp Trade Suffers Its Worst Month Ever | | Shipments plummet 89% in April amid minimal US demand and a lack of flights. | | | | | Sotheby’s to Bring Some Magnificent Jewels Online | | Web-based auction to take place in June, as live New York sale is under threat. | | | | | Young Diamantaires Moving Beyond Infancy | | Now almost four years old, the group is planning to be a more structured organization. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Some US retail stocks rebounded this week as stores began to reopen in selected states. J.C. Penney (+17%) and Macy’s (+1%) both rose. However, jewelers were weaker, with Luk Fook (-7%), Chow Tai Fook (-5%) and Signet (-3%) all falling. In Europe, luxury groups Kering (-9%), Richemont (-5%) and LVMH (-4%) lost ground amid uncertainty about the speed of a post-coronavirus economic recovery. Mining companies had a difficult week, with Mountain Province (-26%), Gem Diamonds (-22%) and Lucara (-13%) all sliding. | | | | | Contact Us |  |       | | © Copyright 2020 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|