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Rapaport TradeWire August 6, 2020

Aug 6, 2020 10:27 AM   By Rapaport
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Rapaport TradeWire
August 6, 2020
RAPAPORT MARKET COMMENT
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Polished market improving due to select demand from US and China. Shortages supporting prices; 1 ct. RAPI +1.9% in July. Jewelers acclimating to new normal by emphasizing digital sales and lower in-store inventory. De Beers considering layoffs and investing in tech to enable more efficient and customized supply. Rough trading slow and availability low after small De Beers and Alrosa sales. Alrosa in talks to sell $500M to $1B of excess supply to Gokhran. India renews appeal to limit rough buying. Chow Sang Sang expects 1H profit -65% to $26M as Hong Kong sees dramatic slump in tourism. AGS lab resumes grading synthetic diamonds after eight-year break.

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RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct 1.08% 2.48% 4.33%
0.50 ct 0.73% 4.37% 1.59%
1.00 ct 0.05% 1.75% -5.79%
3.00 ct 1.01% 0.51% -7.41%
RAPI Yearly Graph
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Market Reports
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United States: Jewelers are looking for specific items rather than inventory but having difficulty finding the right merchandise...
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Belgium: Rough sentiment mixed, with very little trading and few goods available after last week’s De Beers sight...
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Israel: Dealers eager to find new supply to fill existing orders...
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India: Manufacturing units running for longer hours but still operating well below capacity...
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Hong Kong: Wholesalers laying off employees to reduce costs...
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Trade Wire 600X160 April 2018
Estate Jewelry: A buyer’s or a seller’s market?
WITH Jewelry Connoisseur by Rapaport

In the latest podcast, veteran diamond dealer Rick Shatz talks to Rapaport Editor in Chief Sonia Esther Soltani about current trading opportunities.

How to Advertise During the Pandemic
WITH Phillip Bosen

The Covid-19 era has left jewelers wondering how to market their products without appearing rude or insensitive. Consultant Phillip Bosen shares his tips for finding the right balance.

UPS AND DOWNS
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How Jewelers Are Mobilizing to Stamp Out Racism
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South Africa’s Polishers Focus on Local Demand
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Diamond Sector Could Take Two Years to Recover
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Retail Bankruptcies Approach Highest Number in a Decade
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WEEKLY NEWS
industry
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Reduced Diamond Supply Lifts Polished Prices
Trading slow in July amid Covid-19 restrictions.
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De Beers Turns to Tech as Layoffs Loom
Company using data and innovation to improve efficiency throughout supply chain.
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India Urges ‘Self-Discipline’ from Rough Buyers
Diamond demand still unpredictable, trade bodies caution.
retail
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July Figures Cast Cloud over US Retail Recovery
Uncertainty about government support and job outlook hurting consumer sentiment.
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Chow Sang Sang Warns of Steep Profit Drop
Jeweler expects first-half fall of 65% to 70% due to pandemic.
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Frederick Goldman Hires E-Commerce Head
Judah Zeigler held senior roles at Samsung, Panasonic and Sharp.
mining
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Alrosa Nearing Inventory Deal with Govt.
Gokhran, Russia’s state depository, would keep diamonds until market stabilizes.
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Mining Sell-Off Highlights Sector’s Woes
Smaller producers are shutting down some operations or trying to offload them — but potential buyers are struggling as well.
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Large Stones Support Diamcor Average Price
Miner achieves $112 per carat at latest rough tender.
general
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AGS Lab to Restart Synthetics Grading
Group has not offered the reports since 2012.
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Hong Kong Show Runner Unveils Digital Platform
Service will help users make connections and grow business through a virtual channel.
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Asian Star Expects Long-Term Covid-19 Impact
Demand will remain sluggish through end of September, Indian diamond manufacturer predicts.
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Diamonds Light Up World’s Tallest Building
Dubai launches campaign to attract traders from around the globe.
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FINANCE
Diamond Industry Stock Report
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Global stocks fell amid rising coronavirus cases and uncertainty over a US government aid package. Retail and mining shares declined, with LVMH (-2%), Macy’s (-1.4%), Lucapa (-1.4%), Richemont (-1.4%), Kering (-1.2%) and Gem Diamonds (-1%) all losing ground.

Rapnet Trade Wire
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