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Rapaport TradeWire July 1, 2021
Jul 1, 2021 10:28 AM
By Rapaport
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| July 1, 2021 | | RAPAPORT MARKET COMMENT | | | | Strong US market driving short-term confidence. Polished prices continue upward momentum with good demand and supply shortages. High rough prices supporting polished discounts following June hikes at Alrosa and De Beers. The trade expects 3Q seasonal lull but remains optimistic for holiday season. Dealers cautious about buying at current levels. US jewelers working with less inventory amid store closures and emphasis on e-commerce. Hong Kong retail revenue lagging from lack of tourism. Luk Fook FY’21 sales -21% to $1.1B, profit +18% to $131M. TSL FY’21 sales -9% to $342M, loss of $5.7M. Natural Diamond Council unveils jewelry collection for industry ad campaign. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.28% | 0.44% | 8.84% | | 0.50 ct | 0.33% | 1.45% | 15.79% | | 1.00 ct | 0.28% | 2.68% | 21.16% | | 3.00 ct | 0.76% | 1.75% | 17.96% | | | | 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: Some worry the industry can’t sustain its recent uptrend through the summer months... | | | | | Belgium: Rough demand strong; high bidding at tenders... | | | | | Israel: 1 to 3 ct. diamonds moving steadily; the lower the clarity, the better the market... | | | | | India: Manufacturing gradually rising as Surat workers return after traveling home during peak of coronavirus outbreak... | | | | | Hong Kong: Dealers gaining confidence amid hopes that Chinese border will reopen this summer... | | | | | | | Make Marketing a Collective Effort | | | | WITH AVI KRAWITZ | In his new weekly column, “Field Notes,” Rapaport Senior Analyst Avi Krawitz outlines the significance of the Natural Diamond Council (NDC) campaign featuring jewelry by Malyia McNaughton. The NDC is trying to galvanize the trade to get behind its efforts to increase consumer desire for diamonds. | | | | | What Diamond Banks Want | | | | WITH THE RAPAPORT DIAMOND PODCAST | Episode 45 of the Rapaport Diamond Podcast features financier Erik Jens, who talks about the difficult changes in banking over the last decade and the developments currently shaping the sector. There has been a notable shift in mindset among diamantaires, who are now more focused on profit than revenue, where the emphasis used to lie. | | | | | WEEKLY NEWS | | | | | | Alrosa Hikes Prices in Hot Rough Market | | 1-carat goods and larger see increase of around 5%, insiders say. | | | | | New Ana De Armas Ad Spotlights Diamond Trends | | Natural Diamond Council’s collection will feature in its upcoming campaign and will be available for the trade to replicate. | | | | | Baselworld Back in New Format | | Show will focus on mid-range luxury, offering live events combined with a digital platform. | | | | | Fenix Defeats WD in Synthetics Lawsuit | | Judge throws out claims of patent infringement. | | | | | | | | | Hong Kong Retail Sales Still Lagging | | May hard-luxury revenues suffer from lack of tourism. | | | | | Pandora Hires Tiffany Exec as North America Boss | | Luciano Rodembusch will succeed Sid Keswani. | | | | | Hong Kong Tourism Slump Hits Luk Fook | | Jeweler hopeful of recovery following improved sales in recent months. | | | | | Hong Kong Challenges Drag Down Jeweler TSL | | Same-store sales in the municipality fall 39%, while overall revenue drops 9%. | | | | | | | | | Lucara Raises $31M to Expand Karowe | | Miner sells common shares to BMO Capital Markets and Nemesia. | | | | | Alrosa Restarts Operations at Zarya Mine | | Company closed deposit in May 2020 when diamond demand fell due to Covid-19. | | | | | Ellendale Mine Owner to Launch Cutting Business | | Company will manufacture goods from its own projects as well as third-party supply. | | | | | Angola Rough Tender Brings In More Than $56M | | Auction included high-value large and colored diamonds from the Uari, Lulo, Catoca and Luele mines. | | | | | | | | | Ex-De Beers Exec Joins Inscription Specialist | | Jonathan Kendall takes on role of non-executive director at Opsydia. | | | | | Auction Houses Head to Monaco for the Summer | | Sotheby’s and Christie’s to open temporary galleries for luxury goods. | | | | | Harry Winston Diamonds Sparkle at Phillips Sale | | Pair of earrings is top seller, garnering $390,600 in New York auction. | | | | | Reds in Spotlight at Bonhams Hong Kong | | Strong bidding pushed prices above high estimates. | | | | | | | | Diamond Industry Stock Report | | | Key US retail shares showed an upward trend this week, with Walmart (+4%), Signet (+3%) and Macy’s (+1%) increasing. European stocks fell as Covid-19 cases continued to spread in the region: Kering (-2%), LVMH (-2%) and Richemont (-2%) lost ground. Mining fared poorly. Lucara (-11%), Petra (-6%), Alrosa (-5%) and Mountain Province (-1%) all dropped. Lucapa (+2%) was the exception. | | | | | 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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