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Rapaport TradeWire February 25, 2021
Feb 25, 2021 10:35 AM
By Rapaport
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| February 25, 2021 | | RAPAPORT MARKET COMMENT |  | | Positive outlook for 2021 amid steady jewelry sales in US and China. Polished inventory rising. More goods going to GIA for grading. Rough market buoyant as De Beers and Alrosa raise prices again by 3% to 5%. Manufacturing profit margins may come under pressure as slower summer season approaches. De Beers 2020 revenue -27% to $3.4B, loss of $102M vs. 2019 profit of $45M. Rio Tinto 2020 diamond sales -26% to $459M, profit of $9M vs. $21M loss. US 2020 polished imports -39% to $11.8B. GIA uncovers several lab-grown and treated stones carrying natural-diamond reports and fake inscriptions. Boaz Moldawsky elected president of the Israel Diamond Exchange. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.02% | -0.09% | -1.17% | | 0.50 ct | 0.14% | -0.48% | 10.00% | | 1.00 ct | 0.00% | 0.79% | 6.89% | | 3.00 ct | -0.06% | -1.50% | 6.25% | | 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: High end doing well, with more consumers relating to diamonds as a store of value... |  |  | Belgium: Dealers and manufacturers concerned about tightening profit margins... | | |  | Israel: Activity in the bourse improving after lifting of month-long lockdown... | | |  | India: Confident outlook for rest of 2021 amid drop in Covid-19 cases and reduced restrictions... | | |  | Hong Kong: Chinese stores continue making orders during quiet season after lunar new year... | | |  | | | Webinar: The Pandemic in Perspective |  | | WITH Avi Krawitz | The diamond and jewelry trade began 2021 in a relatively healthy position, considering the challenges of the previous year. In the quarterly Diamond Trends Webinar, Rapaport Senior Analyst Avi Krawitz assesses the state of the market. |  | | | Source of inspiration: Mina Stones |  | | WITH Jewelry Connoisseur by Rapaport | Ethical jewelry entrepreneur Amina Okpukpara is devoted to championing gems and talent from her native Nigeria and other African countries. |  | | | WEEKLY NEWS | | industry | | | | De Beers to Seek Sightholders’ Polished Data | | Tracking program will be part of new supply contract. |  | | | Diamonds with Fake Inscriptions Turn Up at GIA | | Lab-grown and treated stones carried grading reports that did not match their characteristics. | | | | | De Beers Raises Prices for Third Sight in a Row | | Increases of around 4% to 5% come amid buoyant rough trading. | | | | | retail | | | | Jewelry Sales Buoy Macy’s in Difficult Quarter | | Category helped minimize group’s revenue decline during three months ending January 30. | | | | | New Miami Jewelry Mall Receives $24M Boost | | Loan will cover completion of Time Century building’s first phase. | | | | | Michael Hill Store Lockdown Leads to Sales Slip | | Retailer sees revenue fall 2.9% in first fiscal half. | | | | | mining | | | | De Beers Posts First Loss Since 2009 | | Revenue and profitability slump amid weak rough demand and prices. | | | | | Alrosa Lifts Rough Prices at February Sale | | Miner implements hikes of 3% to 4% on average, with sharper rises in some categories. | | | | | Lucara Revenue Slides in Challenging 2020 Market | | Sales down 35% as miner holds back larger goods due to weak prices. | | | | | Mothae Yields Its Largest High-Quality Rough | | Lucapa recovers 215-carat, D-color stone from mine in Lesotho. | | | | | Rio Tinto Diamond Revenue Slides | | Sales down 26% in 2020 as demand falls in retail and manufacturing segments. | | | | | general | | | | Black in Jewelry Coalition Receives JCK Grant | | Organization will use funds to help Black professionals progress in the industry. | | | | | Israel Bourse Picks Boaz Moldawsky as President | | He succeeds Yoram Dvash, who will focus on leading the World Federation of Diamond Bourses. | | | | | Swiss Watch Trade Sees 12th Month of Decline | | Drop of 11% in January reflects weak exports to US and Hong Kong. | | | | | US Polished Imports Down Almost 40% in 2020 | | Decline eases in final months of year. | | | | | CIBJO Launches Pearl Guide Aimed at Consumers | | Document explains how to describe and classify natural and cultured specimens. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Retail shares had a volatile week, with Signet (+15%) and Macy’s (+4%) gaining, while Birks (-24%) and Walmart (-10%) declined. Luk Fook (+13%) led buoyant Hong Kong stocks. Among diamond miners, Lucara (-12%) saw the weakest performance after reporting a net loss and a sharp drop in sales, while Anglo American (+6%) rose as investors reacted to its announcement of a higher dividend than a year earlier.
| | | | | Contact Us |  |       | | © Copyright 2021 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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