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Rapaport TradeWire August 13, 2020
Aug 13, 2020 10:50 AM
By Rapaport
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| August 13, 2020 | | RAPAPORT MARKET COMMENT |  | | Sentiment improving after relatively good trading in July-August. Shortages supporting prices. Fewer dealers active in the market. Suppliers with the right goods that meet selective demand gaining market share. Manufacturers considering higher rough purchases as they assess 4Q inventory requirements. Rough buying limited due to travel restrictions and inflated De Beers and Alrosa prices. Alrosa July rough sales -86% to $23M. Sarine 1H profit of $1.2M vs. loss of $2.8M a year earlier, revenue -0.5% to $22M. Hong Kong 2Q polished imports -45% to $2.2B, exports -47% to $1.7B. GIA to provide full color and clarity grading for synthetics. ABN Amro to cease Hong Kong diamond lending. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.88% | 3.20% | 5.30% | | 0.50 ct | 1.07% | 5.01% | 2.78% | | 1.00 ct | 0.86% | 2.26% | -4.86% | | 3.00 ct | 0.10% | 1.10% | -7.33% |  | | 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: Stronger retail sales stimulating demand for select polished diamonds... |  |  | Belgium: Rising concerns about credit shortage when De Beers and Alrosa clients return to rough buying... | | |  | Israel: Sentiment slightly improved, as dealers have made some sales and depleted inventories of in-demand goods... | | |  | India: Trading stable, with suppliers trying to fill orders before Jain festival of Paryushan (August 15 to 22)... | | |  | Hong Kong: Steady interest in 0.80 to 1 ct., D-G, VVS-VS diamonds (3X, none) for engagement rings supporting the trade... | | |  | | | A Crucial Moment for Artisanal Miners |  | | WITH Avi Krawitz | The recent merger of the Diamond Development Initiative (DDI) and Resolve could provide much-needed resources for the artisanal mining sector. Let’s hope it also stimulates the wider industry to support this important part of the global diamond community. |  | | | How to sell vintage engagement rings |  | | WITH Jewelry Connoisseur by Rapaport | Los Angeles dealer Jerome Heidenreich answers four key questions about stocking and selling estate bridal jewelry. |  | | | WEEKLY NEWS | | industry | | | | What De Beers and Alrosa Clients Really Want | | Complaints about high rough prices and weak profit margins are intrinsically linked to the question of customization. |  | | | GIA to Give Full Color, Clarity Grades for Lab-Grown | | Digital-only service to launch in fourth quarter. | | | | | ABN Amro to Cease Hong Kong Diamond Lending | | Bank will continue to “de-risk” its credit business in Belgium. | | | | | To Speak Out, or Not to Speak Out? | | Jewelers disagree on whether it’s worth voicing their opinions on social and political issues. | | | | | retail | | | | Tiffany Ranked Among ‘Hot 100’ Retailers | | NRF scored companies based on US sales growth between 2018 and 2019. | | | | | Diamonds High on Holiday Gift Lists | | Consumers showing strong interest in the category across US, India and China, De Beers survey finds. | | | | | Retail Sales Slide at Berkshire Hathaway | | Many stores shut in second quarter due to pandemic. | | | | | India’s Titan Incurs ‘Unprecedented’ Loss | | Store closures, weak consumer sentiment and wedding postponements hit sales. | | | | | Forevermark Debuts in New Zealand | | Partnership with Partridge Jewellers brings De Beers brand to Auckland, Wellington and Christchurch. | | | | | Jewelry Brand Fana Names Sales Specialists | | Shelby Sterrett, Steve Rumanoff and Eric Sigg will help New York-based company interact with retail partners. | | | | | mining | | | | Alrosa Finds Russia’s Largest Colored Diamond | | Miner recovers 236-carat, intense-yellow-brown stone at Ebelyakh deposit in Yakutia. | | | | | Lucara Ends Second Quarter at a Loss | | Miner halted large-stone tenders amid weak market. | | | | | Mountain Province in the Red as Demand Slows | | Company reports first-half loss of $51 million. | | | | | general | | | | Sarine Turns Profit Following Cutbacks | | Furloughs and pay reductions offset sales slowdown during pandemic. | | | | | Hong Kong Trading Hits New Low | | Polished imports down 45% in second quarter. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | US stocks rallied amid optimism about an economic recovery and a government stimulus package. Signet (+25%), Macy’s (+11%) and Walmart (+1.6%) all grew. European retail shares also rose, with Pandora (+7%), Richemont (+7%), LVMH (+6%) and Kering (+5%) gaining. Miners had a good week: Gem Diamonds (+15%), Mountain Province (+13%), Lucapa (+9%) and Petra (+7%) increased. Lucara (-5%) slipped following disappointing results. | | | | | 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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