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Rapaport TradeWire August 26, 2021
Aug 26, 2021 10:59 AM
By Rapaport
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| August 26, 2021 | | RAPAPORT MARKET COMMENT | | | | Las Vegas shows open with positive sentiment but fewer exhibitors and light traffic. Serious buyers attending. Dealers hoping JCK will signal start of holiday buying after 3Q slowdown. Polished inventory rising but shortages remain. Difficult to find top-quality diamonds. Rising expectations for holiday season, but retail growth starting to decelerate. Jewelry ranks among top-selling categories for Macy’s in 2Q. Rough market stable during De Beers sight. Prices softening on the secondary market. Gem Diamonds sells Ghaghoo mine for $4M. De Beers introduces Code of Origin program for jewelers to sell De Beers-sourced diamonds; extends Lightbox lab-grown offering to 2 ct. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.55% | -1.21% | 0.61% | | 0.50 ct | -0.33% | -0.41% | 5.92% | | 1.00 ct | -0.07% | 0.16% | 19.19% | | 3.00 ct | -0.43% | 0.04% | 16.25% | | | | 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: Less emphasis on memo as jewelers need goods... | | | | | Belgium: Rough market steady but buyers cautious about price levels... | | | | | Israel: Fewer suppliers than usual at Las Vegas fairs amid travel restrictions and uncertainty about shows’ effectiveness... | | | | | India: Steady polished production expected until November 4 Diwali break... | | | | | Hong Kong: Local retail stable, with lower-budget jewelry moving better than before... | | | | | | | RAPAPORT AT JCK LAS VEGAS | The annual Rapaport Breakfast and Social Responsibility Conference will take place online and at the JCK Las Vegas show. Gina Drosos from Signet Jewelers will give a short speech. Rapaport Breakfast: Sunday, August 29, 8 a.m. to 10 a.m. Pacific Daylight Time. Social Responsibility Conference: Sunday, August 29, 1 p.m. to 4 p.m. Pacific Daylight Time. Please register to attend online or in person. | | | | | Sustainability: The Full Picture | | | | WITH DAVID KELLIE | The industry is going beyond climate change to deliver on a broader concept of social and environmental impact, according to the CEO of the Natural Diamond Council. | | | | | WEEKLY NEWS | | | | | | De Beers to Launch New Origin Program | | Miner continues consolidation of branding and marketing efforts. | | | | | Alrosa: Gokhran Sale Has Cooled Rough Prices | | Valuations down 3% to 5% on secondary market since July auction. | | | | | | | | | De Beers Launches Larger Lab-Grown Diamonds | | Lightbox introduces stones up to 2 carats, along with a higher-end line. | | | | | Tiffany’s Beyoncé, Jay-Z Campaign Is All About Love | | Jeweler aims for a creative take on modern romance. | | | | | Macy’s Jewelry Sales Strengthen in Second Quarter | | Category sees double-digit growth as consumers refresh wardrobes for return to social occasions. | | | | | Australia Lockdowns Weigh on Michael Hill Sales | | Group revenue fell 2% in first seven weeks of fiscal 2022. | | | | | | | | | GemFair: Raising the Standards | | The De Beers program helps artisanal miners make a dignified living, explains Feriel Zerouki, the company’s senior vice president for corporate affairs. | | | | | Petra Partners with Stargems on $14M Diamond Sale | | Agreement over 342.92- and 18.30-carat stones will see companies share proceeds of final polished. | | | | | Gem Diamonds Sells Botswana’s Ghaghoo Mine | | Asset fetches $4 million following four-year search for buyer. | | | | | Atrocities Haunt Zimbabwe’s Marange Fields | | Farai Maguwu of the Centre for Natural Resource Governance believes the Kimberley Process is greenwashing the country’s conflict diamonds. | | | | | | | | | 24ct. Diamond Fetches $2M at Christie’s Online Sale | | Pendant becomes second-most expensive jewelry piece at any digital auction by the company. | | | | | IGI President Joins Board of Mercury Free Mining | | Avi Levy will campaign to eliminate toxic substance’s use in gold production. | | | | | Swiss Watch Exports Surge on US, China Demand | | Continued recovery and increased domestic spending boosted orders in July. | | | | | AGS Mourns Death of Former Leader Al Woodill | | He served as executive director for 40 years. | | | | | Gem Legacy Appoints Melissa Quick to Board | | Chicago retail professional joins the nonprofit after a visit to mines in Africa showed her the potential for positive impact. | | | | | | | | Diamond Industry Stock Report | | | US retail stocks gained as the economy reopened and consumers shopped in preparation for a return to work and school. Macy’s (+31%) and Signet (+14%) rose. Hong Kong shares fell after China left its benchmark lending rate unchanged, with declines for Luk Fook (-8%) and Chow Sang Sang (-5%). European retail also suffered following a resurgence of Covid-19. Pandora (-3%) and LVMH (-2%) both dropped. Mining stocks were relatively stable. Mountain Province (+3%), Rio Tinto (+2%) and Lucapa (+2%) were up, while Petra (-2%) and Lucara (-1%) slipped. | | | | | 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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