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Rapaport TradeWire October 1, 2020
Oct 1, 2020 10:28 AM
By Rapaport
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| October 1, 2020 | | RAPAPORT MARKET COMMENT |  | | Trading quiet due to Chinese and Jewish holidays and Covid-19 uncertainty. Expectations low for Oct. 1 Golden Week Hong Kong retail sales. Global brands focusing on China and e-commerce as mainland luxury shoppers limit travel, impacting seasonal sales at Hong Kong, New York and London flagships. Government crackdown on diamond smugglers ensures level playing field for legitimate traders looking to capitalize on Chinese demand. Lower midstream inventory supporting polished prices. 1 ct. RAPI +2.3% in Sep. Orders improving but concerns rising about shipment delays during the pandemic. Rough robust during De Beers sight and achieving steady premiums on the dealer market. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 3.40% | 4.50% | 16.54% | | 0.50 ct | 4.19% | 6.18% | 19.88% | | 1.00 ct | 0.71% | 2.43% | 1.82% | | 3.00 ct | 0.71% | 2.34% | -3.70% |  | | 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: Bridal driving demand as the industry looks to capitalize on “For Moments Like No Other” fourth-quarter advertising campaign... |  |  | Belgium: Increasing shift to parcel goods due to shortages of certs... | | |  | Israel: Polished trading quiet with businesses closed for the Jewish holiday period... | | |  | India: Ovals, emeralds, pears and cushions moving well... | | |  | Hong Kong: Lack of tourism is weighing on retail... | | |  | | | Go with the Glow |  | | WITH Rapaport Magazine | The diamond trade has long considered fluorescent stones less desirable. The latest Rapaport special supplement explains how this misconception arose, and outlines the opportunities the category offers. |  | | | Launching a vintage jewelry business |  | | WITH Jewelry Connoisseur by Rapaport | In episode 10 of the Jewelry Connoisseur podcast, Boston-based dealer Tiina Smith discusses how to turn a passion into a profession, curate the ideal collection, and expand clients’ knowledge. |  | | | WEEKLY NEWS | | retail | | | | LVMH Claims Right to Exit Tiffany Deal | | French luxury group countersues in public dispute over $16 billion takeover. |  | | | Hong Kong Retail Remains Weak in August | | Sales of jewelry, watches and clocks slide 38%. | | | | | Watches of Switzerland Buys Analog Shift | | UK-based company acquires brand of pre-owned and vintage timepieces. | | | | | industry | | | | Sotheby’s to Sell 119ct. Sapphire in Hong Kong | | Jewel is largest of its kind auction house has offered in two decades. | | | | | Gübelin Taps Machine Learning for Gem Analysis | | Lab partners with Swiss Center for Electronics and Microtechnology on artificial-intelligence project. | | | | | IGI Grades Record Black Lab-Grown Diamond | | 115.65-carat piece is largest synthetic stone of that color. | | | | | China Cracks Down on Diamond Smuggling | | Customs authorities reportedly arrest 121 illegal importers. | | | | | India’s Asian Star Sees Sales Plunge | | Quarterly profit drops 98% as coronavirus freezes manufacturing operations. | | | | | US Polished Imports Continue to Slide | | Shipments down 50% in July, according to government data. | | | | | India Allows Importers to Fix Errors on KP Certs | | Technical or typographical mistakes had been holding up shipments, GJEPC says. | | | | | mining | | | | Mountain Province Gets Approval for Investor Bailout | | Dunebridge will refinance miner’s existing credit facility. | | | | | BlueRock Set to More Than Double Production | | Miner expects output of 34,000 to 46,000 carats in 2021. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | US retail stocks slipped amid uncertainty over a stimulus package and the upcoming presidential elections. Macy’s (-7%) and Tiffany (-1%) both fell, while Signet (+7%) bucked the trend. Mining shares were mixed: Gem Diamonds (-9%), Mountain Province (-5%), Rio Tinto (-2%) and Lucara (-2%) slid, while Lucapa (+7%), Anglo American (+4%), Petra (+3%) and Alrosa (+2%) all gained. | | | | | Contact Us |  |       | | © Copyright 2020 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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