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Rapaport TradeWire March 11, 2021
Mar 11, 2021 10:38 AM
By Rapaport
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| March 11, 2021 | | RAPAPORT MARKET COMMENT |  | | Positive trading amid US and China retail recovery. Jewelry continues to perform well as consumers seek meaningful products that retain value. US jewelers optimistic after Senate approves $1.9 trillion stimulus bill and as vaccine rollout gains momentum. Jewelry sales +6% in Feb., Mastercard reports. Large manufacturers emerging from pandemic with improved liquidity, profit and market share. Miners seeing robust rough demand ahead of 2Q seasonal slowdown. De Beers Feb. sales +52% to $550M, Alrosa +5% to $361M. Petra Diamonds sells 299.3 ct. rough to Stargems for $12.2M ($40,695/ct.). Israel Feb. rough exports +21% to $124M with boost from new UAE trade deal. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.81% | 1.12% | 1.59% | | 0.50 ct | 0.27% | 0.63% | 12.23% | | 1.00 ct | 0.72% | 1.30% | 10.04% | | 3.00 ct | -0.31% | 0.28% | 8.62% |  | | 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: Traders finding it difficult to replace sold items... |  |  | Belgium: Positive sentiment amid steady turnover... | | |  | Israel: Market returning to regular routine as economy gradually opens after lockdown… | | |  | India: Manufacturers continue to shift toward lab-grown as interest in the category increases... | | |  | Hong Kong: China retail recovery spurring optimism in wholesale sector... | | |  | | | Ekati Eyes a Brighter Future |  | | WITH Avi Krawitz | There may yet be life left in the Ekati mine, which recently resumed operations after lying dormant for most of 2020. The Rapaport Research Report considers prospects for this important source of rough supply following its takeover by Arctic Canadian Diamond Company. |  | | | How to Market Across Generations |  | | WITH Leah Meirovich | To reach different age groups, jewelers need to embrace multichannel advertising with targeted messaging. | | | | | How gem supply got more demanding |  | | WITH Jennifer Heebner | Dealers weigh in on sourcing, sales channels, and other colored-stone issues that have arisen during the pandemic. |  | | | WEEKLY NEWS | | industry | | | | De Beers, Alrosa See Sales Rise | | Combined rough revenues reach $911 million in February. |  | | | Lunar Festival Seals China’s Comeback | | Retailers restock following sharp New Year sales increases. | | | | | Israel Bourse to Reopen Trading Hall | | Space will be available from Sunday for vaccinated members, recovered Covid-19 patients, and those who have tested negative in the previous 48 hours. | | | | | retail | | | | US Jewelry Sales Surge During ‘Month of Love’ | | Revenue up 6% year on year in February, while online rises 63%. | | | | | Signet Launches In-Store Customization at Jared | | Customers can work with one of 1,400 artisans at 19 US locations to create bespoke pieces. | | | | | Tiffany Gets New Creative Director | | Ruba Abu-Nimah succeeds Reed Krakoff, who left following jeweler’s sale to LVMH. | | | | | Pandora Reopens Some Stores, Sees Strong Sales | | 25% of locations remain shuttered; February revenue up 12% on an organic basis. | | | | | Bain Makes a Case for Resale | | Previously owned items could provide up to 20% of luxury businesses’ revenues by 2030, company says. | | | | | Midwest Jeweler Buys Minneapolis Retailer | | Gunderson’s adds fifth store through acquisition of JB Hudson. | | | | | mining | | | | Petra Sells 299ct. Diamond for $12M | | Stargems spends $40,701 per carat on rough stone. | | | | | Gem Diamonds Profit Soars After Sales Rebound | | Miner proposes first dividend since 2016. | | | | | general | | | | Platinum Guild to Award $500K Grant | | Money will go to manufacturers, designers or retailers who focus on using the metal for their jewelry. | | | | | Israel’s Diamond Trade Sees Strong February | | Polished exports up 24% year on year amid demand from US and China. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global retail stocks rose as an increase in the US consumer price index allayed investors’ fears about inflation. Congress’s approval of a third stimulus bill also boosted market confidence. Signet (+11%), Chow Sang Sang (+9%), Macy’s (+7%), Kering (+6%) and Luk Fook (+5%) all improved. Pandora (+13%) jumped following positive February sales. Miners had a tougher week, with Petra Diamonds (-17%), Lucara (-5%) and Mountain Province (-5%) falling. Gem Diamonds (+16%) gained after strong earnings and the announcement of its first dividend since 2016. Alrosa (+5%) was also up amid growth in rough sales. | | | | | 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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