News

Advanced Search

Rapaport TradeWire May 14, 2020

May 14, 2020 11:09 AM   By Rapaport
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
Rapnet 600X160 Covid
Rapaport TradeWire
May 14, 2020
RAPAPORT MARKET COMMENT
image

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.

200424 Gemolithos Banner 03
RAPNET DIAMOND INDEX (RAPI)
image
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%
RAPI Yearly Graph
Jm 600X160 V2
Market Reports
image
United States: COVID-19 crisis accelerating shift to online spending...
image
Belgium: Dealers still cautious as sales volumes remain low...
image
Israel: Israel Diamond Exchange calls for government support of the industry...
image
India: Manufacturing limited; some factories given special dispensation to operate...
image
Hong Kong: Hong Kong becomes the major post-coronavirus diamond trading center...
image
Trade Wire 600X160 April 2018
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.

UPS AND DOWNS
image
Diamond Units Back Relaxation of Mumbai Rules
image
Neiman Marcus Says It Has a Plan for a Comeback
image
Union Seeks Guarantee for Dominion Pension Obligations
image
Modi ‘Used 13 Companies in UAE to Round-Trip Millions’
image
13 Nov 2019 Gia Id 100 Machine Tw Banner
WEEKLY NEWS
industry
image
News Thumbnail
Gokhran May Purchase Alrosa Rough
Shareholder reportedly proposes sale of up to $1.7 billion in diamonds.
News Thumbnail
Exports Restart at India’s Bharat Diamond Bourse
First shipments mostly destined for Hong Kong.
News Thumbnail
Mumbai Trade Resumes with 10% of Workers
State government allows companies to fulfill export commitments.
News Thumbnail
Alrosa Halts Polishing Divisions Indefinitely
Operations will resume when demand increases and the safety situation improves.
News Thumbnail
Delgatto to Finance BlueRock’s Diamonds
Arrangement will grant the miner liquidity until rough prices recover.
retail
image
News Thumbnail
Luxury Market to Contract Up to 35% in 2020 – Bain
Coronavirus led to 25% drop in first quarter, consultancy firm estimates.
News Thumbnail
US Retail Recovery Will Take Time, NRF Says
Economic growth likely to bounce back in the second half.
mining
image
News Thumbnail
Alrosa Sales Nearly Wiped Out in April
Revenues hit record monthly low of $15.6 million.
News Thumbnail
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.
News Thumbnail
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.
News Thumbnail
Lucapa Unearths 171ct. Rough at Lulo
Stone is fourth-largest recovered from the deposit.
News Thumbnail
Lucara Hopeful of Second-Half Rebound
Company delays expansion of Karowe mine.
general
image
News Thumbnail
Christie’s to Sell Record D-Color Online
Emerald-cut, 28.86-carat diamond ring is estimated at $1 million to $2 million.
News Thumbnail
Antwerp Trade Suffers Its Worst Month Ever
Shipments plummet 89% in April amid minimal US demand and a lack of flights.
News Thumbnail
Sotheby’s to Bring Some Magnificent Jewels Online
Web-based auction to take place in June, as live New York sale is under threat.
News Thumbnail
Young Diamantaires Moving Beyond Infancy
Now almost four years old, the group is planning to be a more structured organization.
Trade Wire Cda Auction 051420
FINANCE
Diamond Industry Stock Report
image

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.

Rapnet Trade Wire
Rap Net Diamond Community G1 051020 300X300
Tradewire Square General V4
300X300 Mag
Contact Us
image
Facebook  Twitter  LinkedIn  Google+  RSS  Email
© Copyright 2020 Martin Rapaport. All Rights Reserved.
Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks.
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
Similar Articles
Rapaport TradeWire July 9, 2020
Jul 09, 2020
Industry Retail Mining General Finance July 9, 2020 RAPAPORT MARKET COMMENT Diamond trade uncertain amid
Rapaport TradeWire June 18, 2020
Jun 18, 2020
Industry Retail Mining General Finance June 18, 2020 RAPAPORT MARKET COMMENT Sentiment improving as US retail
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2020 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.