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Rapaport TradeWire October 22, 2020
Oct 22, 2020 10:13 AM
By Rapaport
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| October 22, 2020 | | RAPAPORT MARKET COMMENT |  | | Sentiment improving as holiday orders and shortages support polished prices. Cutters planning brief Diwali break amid rise in production. US holiday shoppers expected to keep spending in line with last year at average of $998, says NRF. Jewelers with strong digital presence doing well. Fewer 3Q bankruptcies than expected as JBT reports US industry decline of 3% to 24,258 businesses. China strong. Chow Tai Fook 2Q mainland sales +21%, Hong Kong -52%. LVMH 3Q jewelry & watch sales -14% to $1.1B. Miners’ rough inventory increasing: De Beers 3Q production -4% to 7.2M cts., sales -11% to 6.6M cts. Alrosa 3Q revenue -4% to $589M, price index -7%. Chaim Pluczenik elected AWDC president. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.70% | 1.77% | 12.77% | | 0.50 ct | -0.13% | 4.69% | 19.10% | | 1.00 ct | 0.25% | 1.94% | 3.42% | | 3.00 ct | 0.69% | 0.74% | -3.67% |  | | 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: Pandemic has intensified split between omni-channel and offline retailers... |  |  | Belgium: Sustained orders for 0.50 to 0.90 ct. and 1 ct., E-G, VVS-SI (3X) diamonds... | | |  | Israel: Companies holding old inventory; fresh goods hard to source and selling fast... | | |  | India: Domestic sales up as Indian festival period approaches, signaling start of wedding season... | | |  | Hong Kong: Local market quieter than usual in lead-up to Chinese New Year... | | |  | | | Cash, Credit and Covid-19 |  | | WITH The Rapaport Diamond Podcast | The coronavirus and the ensuing liquidity crisis have split US jewelers into haves and have-nots, explains Erich Jacobs, president of the Jewelers Board of Trade. |  | | | WEEKLY NEWS | | industry | | | | De Beers Notes Recovery Ahead of Holidays | | Sales volume and production accelerate in third quarter but remain below 2019 levels. |  | | | India Rushes to Meet US Holiday Demand | | Cutting factories to take shorter Diwali break amid polished shortages. | | | | | Jewelry Trade Continues to Shrink | | US industry 3% smaller in third quarter than it was a year earlier, according to JBT data. | | | | | Diamond Rebound to Boost Botswana Growth | | Gross domestic product to rise 7.7% in 2021 as key export industry recovers, finance minister forecasts. | | | | | retail | | | | US Retail Sales on Recovery Path | | September’s 5% year-on-year rise marks fourth month of increases. | | | | | Consumers Ready to Spend on Gifts – Survey | | Holiday sales will be similar to last year, National Retail Federation predicts. | | | | | China Resurgence Lifts Chow Tai Fook | | Total retail sales up 2.6% in second fiscal quarter as mainland demand rises. | | | | | LVMH Jewelry and Watch Revenue Slides | | Figure falls 14% in third quarter. | | | | | Luk Fook Suffers as Tourists Snub Hong Kong | | Same-store sales down 55% in three months ending September 30. | | | | | mining | | | | Petra Lenders Take Majority Control of Company | | Banks write off sizable debts in return for 91% of shares. | | | | | Alrosa Upbeat as Diamond Sentiment Improves | | Rough sales fall year on year in third quarter, but rate of decline eases. | | | | | Lower Grades at Argyle Hit Rio Tinto Output | | Production falls 8% to 4.2 million carats in third quarter. | | | | | Dominion in Flux as CEO Resigns | | Chairman, CFO and COO will lead operations temporarily. | | | | | Mountain Province Output Thrives in Third Quarter | | Higher grades at Gahcho Kué’s 5034 pit boost recovery levels. | | | | | general | | | | Rio Tinto to Sell Final Argyle Specials | | A 74.48-carat, fancy-yellow diamond from the Diavik mine will also feature in the tender. | | | | | Lab Launches Synthetic-Diamond Course | | Gemological Science International creates new online class as market expands and demand rises. | | | | | Petra to Offer Collection of Blue Diamonds at Tender | | Five stones range from 9.61 to 25.75 carats. | | | | | Swiss Watch Exports Still Slow to Recover | | China supporting the sector as orders from other key markets decline. | | | | | Chaim Pluczenik Becomes AWDC President | | Antwerp-based dealer succeeds Nishit Parikh at organization’s helm. | | | | | Plumb Club Partners with Fashion Institute | | Mentorship program will help design students enter jewelry industry. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global retail stocks rose this week following strong US consumer sales in September and continued hopes for a government stimulus package. Signet (+8%), Macy’s (+7%), LVMH (+6%), Chow Sang Sang (+4%) and Tiffany (+3%) all gained. Mining stocks floundered, with Petra (-17%) falling after lenders acquired a majority stake in the company. Lucapa (-7%) and Alrosa (-2%) also slid. | | | | | 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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