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Rapaport TradeWire April 16, 2020

Apr 16, 2020 11:20 AM   By Rapaport
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26 Nov 19 Igi Tw Banner Jewelry
Rapaport TradeWire
April 16, 2020
RAPAPORT MARKET COMMENT
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Diamond industry under stress as mining, manufacturing and retail centers remain closed during COVID-19 lockdown. US government starts $2.2 trillion stimulus to help relieve liquidity pressures as new unemployment claims exceed 20 million in April. US retail sales slide -6.2% in March. China retail reopening to light traffic. Chow Tai Fook 4Q China same-store sales -50%, Hong Kong/Macau -65%. Some junior miners deem operations uneconomical at current low rough prices. Petra Diamonds prices -27% in March. Alrosa reduces inventory -6% to 21.1 million carats in 1Q, sells $149M rough and $4.2M polished in March. Exhibitors clash with Baselworld over refund policy as watch majors Rolex, Patek Philippe, Chanel, Chopard and Tudor pull out.

5 Nov 2019 Gemolithos Tw Banner
RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct -0.64% -4.25% -5.83%
0.50 ct -0.31% -4.14% -9.24%
1.00 ct -0.07% -5.27% -13.15%
3.00 ct -0.94% 6.22% -10.63%
RAPI Yearly Graph
Trade Wire 600X160 April 2018
Market Reports
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United States: Retailers closed nationwide, with major jewelers furloughing workers...
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Belgium: AWDC to host webinar on April 17 explaining government support measures during COVID-19...
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Israel: Israel Diamond Exchange president Yoram Dvash outlines benefits available to diamantaires...
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India: Some manufacturing sectors could resume before May 3 end to lockdown...
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Hong Kong: Retail inventory levels higher than normal, with Chow Tai Fook reporting 15% year-on-year inventory increase on February 29...
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13 Nov 2019 Gia Id 100 Machine Tw Banner
Face-to-Face Value
WITH Jewelry Connoisseur

Buying jewelry from the public comes with its share of both risks and rewards. Estate expert Russell Fogarty shares what some of them are.

UPS AND DOWNS
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China Has Become a Testing Ground for Luxury Brands
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‘Revenge Spending’ Could Save Diamond Industry
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Rio Tinto Denies Allegations in Mining-Project Dispute
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Diamond Sector Grinds to a Halt Amid India Lockdown
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Rn Drive Business 032520 Banners Final 600X160Px Static Buy
WEEKLY NEWS
industry
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Baselworld Mulls Its Future as More Brands Quit
Rolex and Patek Philippe exit to launch breakaway show.
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Alrosa Reduces Inventory in First Quarter
Sales fall but still exceed production.
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Hong Kong Shows Postponed to August
Events originally slated for March have been rescheduled a second time.
retail
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US Retail Sales See Record Decline
March slowdown worse than during November 2008 recession, NRF says.
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Chow Tai Fook Revenue Tumbles Due to Virus
Quarterly same-store sales down 50% in China and 65% in Hong Kong and Macau.
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Graff Donates $1M to Fight Pandemic
Money will help provide medical supplies in the most vulnerable countries.
mining
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Alrosa Sales Slump to $153M in March
Rough revenue plummets 60% amid COVID-19 pandemic.
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Petra Sees Rough Prices Drop 27%
Miner holds back goods to sell when conditions improve.
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Lucapa Inks Polishing Partnership for Mothae
Unnamed diamantaire buys first 3,963 carats for $2 million.
general
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Exhibitors Clash with Baselworld over Refund Policy
Show attendees claim they were not consulted about new dates, which conflict with other fairs.
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India’s Polished Exports Fall 41% in February
Drop reflects lower demand from Hong Kong and China.
Tradewire Banner April Final
FINANCE
Diamond Industry Stock Report
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Retail stocks rebounded following major slumps amid the coronavirus pandemic. Macy’s (+29%), Signet (+21%), Chow Tai Fook (+17%), LVMH (+6%) and Richemont (+5%) all rose. J.C. Penney (-30%) fell after reports that it might need to file Chapter 11. Mining stocks also showed improvements, with Petra (+95%), Gem Diamonds (+26%), Mountain Province (+13%) and Lucara (+13%) all up.

Rapnet Trade Wire
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Tradewire Square April Final V2
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