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Rapaport TradeWire March 12, 2020
Mar 12, 2020 11:31 AM
By Rapaport
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| March 12, 2020 | | RAPAPORT MARKET COMMENT |  | | Diamond industry facing severe liquidity crisis as coronavirus spreads to US. Suppliers uncertain about prices as buyers push for deeper discounts. Jewelers holding large inventory and have scaled back polished purchases. Manufacturers are advised to stop buying rough and hold cash until conditions stabilize. Slump in oil price (-32% since Mar. 5) and stock market (Dow -10%) reducing consumer wealth and luxury demand. Chow Tai Fook Jan./Feb. sales -60% in Hong Kong & Macau, -42% in China. Belgium Jan./Feb. polished exports to the US -35%. Martin Rapaport to give Diamond Market Challenges webinar Thursday Mar. 19 at 10 a.m. GMT and 12 p.m. EST. Register at www.rapaport.com/webinar. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.57% | -2.20% | -4.66% | | 0.50 ct | -1.00% | -2.17% | -4.53% | | 1.00 ct | -0.73% | -2.82% | -7.96% | | 3.00 ct | 0.28% | -1.74% | -16.63% |  | | 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: Bridal supporting the market for 1 ct., G-J, VS-SI diamonds, as February through May is a popular period for engagements... |  |  | Belgium: European luxury struggling as sales slide and lockdown in Italy affects supply chains... | | |  | Israel: Coronavirus has delayed delivery of goods and forced dealers to work from home... | | |  | India: Polished suppliers under pressure as inventories rise and prices soften... | | |  | Hong Kong: China manufacturing has resumed but is focusing more on lower-cost gemstone and gold jewelry... | | |  | | | How Alrosa Is Using Data to Drive Sales |  | | WITH The Rapaport Diamond Podcast | In episode 23 of the Rapaport Diamond Podcast, Alrosa’s Alexey Tikhonov tells Rapaport Senior Analyst Avi Krawitz about how the company is collecting data at the mining level to improve the rough-sales process.
|  | | | Contemporary brilliance: TEFAF Maastricht |  | | WITH Jewelry Connoisseur by Rapaport | Despite coronavirus fears that led to sparse foot traffic, the art fair’s high-jewelry selection was at the top of its game this year, writes Anthony DeMarco. |  | | | WEEKLY NEWS | | industry | | | | Sarine Ushers In Era of In-Factory Grading | | Company plans to take automated certification to the next level. |  | | | Israel Eases Trading Rules After Exports Plummet | | Concessions apply to diamond transactions with virus-hit countries. | | | | | Alrosa to Maintain Supply Flexibility | | Clients are being “prudent” due to coronavirus, deputy CEO says at Antwerp meeting. | | | | | NY Shows Canceled as Outbreak Spreads | | JA and MJSA will not hold their upcoming events. | | | | | Canada Trade Releases Synthetics Guidelines | | Rules ban unqualified use of word “diamond” for lab-grown stones. | | | | | retail | | | | Coronavirus Pummels Chow Tai Fook’s Sales | | Mainland China and Hong Kong suffer heavy declines for January and February. | | | | | Lab-Grown Marketing: Multifaceted Messaging | | Companies are branching out when it comes to promoting synthetics, with angles including size, quality and ethics. | | | | | mining | | | | Weak Demand Weighs on Alrosa Earnings | | Profit decreased 31% last year as oversupply caused a slowdown in the market. | | | | | Gem Diamonds Profit Falls in 2019 | | Miner recovered fewer large stones and saw a drop in its average price. | | | | | Star Diamond Sues Rio Tinto over Canada Deal | | Site owner accuses mining giant of not complying with terms of joint-venture agreement. | | | | | general | | | | Belgium’s Polished Exports Slump 55% | | February shipments slide to $560 million. | | | | | Gem Diamonds Retrieves Another Five Big Stones | | Latest finds include an 88-carat white and a 13-carat pink. | | | | | Mercury-Free Initiative Yields Positive Results | | Experts will refine the process in Oregon following encouraging field tests in Ghana. | | | | | Sotheby’s Celebrates Jeweler Mellerio | | Auction house will hold an exhibition and sale of the artist’s works in Paris. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global stocks crashed as coronavirus fears intensified, with the World Health Organization designating the outbreak as a pandemic. Worries about a global recession hit retail and mining shares: Petra (-44%), Gem Diamonds (-33%), Signet (-28%), Anglo American (-27%), Macy’s (-25%), Pandora (-25%), Kering (-19%) and Chow Tai Fook (-14%) all fell. | | | | | Contact Us |  |       | | © Copyright 2020 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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