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Rapaport TradeWire April 22, 2021
Apr 22, 2021 10:40 AM
By Rapaport
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| April 22, 2021 | | RAPAPORT MARKET COMMENT |  | | TRADE ALERT: India is undergoing a severe Covid-19 crisis that will impact the global diamond trade. India manufactures about 92% of the world’s diamonds. While the Indian government is doing everything possible to support continued diamond manufacturing and exports, shortages and price volatility are expected to intensify over the next few months. This is a good time to support Indian suppliers. The disruption to the supply chain will be significant once current goods being processed by the GIA are put on the market. We anticipate a 30% to 40% reduction in Indian production during the months prior to the holiday season. Our hearts and prayers go out to the Indian diamond community. May they stay safe and recover swiftly. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.04% | -1.70% | 5.03% | | 0.50 ct | -0.06% | -1.41% | 15.73% | | 1.00 ct | 0.10% | 0.64% | 16.10% | | 3.00 ct | 0.56% | 1.15% | 7.43% |  | | 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: Jewelers optimistic for Mother’s Day sales as retail opens up after vaccination drive... |  |  | Belgium: Europe remains slow due to pandemic... | | |  | Israel: Dealers looking for goods and relying on online platforms for sourcing needs even as travel resumes... | | |  | India: Mumbai enters stricter lockdown... | | |  | Hong Kong: Retail sentiment improving as drop in coronavirus cases raises hopes of China border reopening... | | |  | | | A Personal Message from Martin Rapaport |  | Rapaport Information Services Seeks Publisher The Rapaport Group is significantly expanding our Information Services division. We are intensifying the quality of our news, analysis and research as we reinvent our digital communication networks. There is now an unprecedented opportunity for a high-quality individual to serve as our publisher and promote the values of the company — the creation of ethical, transparent, competitive and efficient markets. The successful candidate will manage the Information Services division and report directly to Martin Rapaport. It is anticipated that the position will be based in the United States. She or he will have a deep understanding of the digital communication space, including the important interactive roles of digital marketing, social media communication and online information platforms. The publisher will work with an excellent team of experienced experts in content development, design, and presentation. A primary responsibility of the publisher will be the monetization of content within the strategic framework of the company. We seek a good, honest and kind person with strong leadership skills and ethical values. Candidates are invited to apply here. |  | | | WEEKLY NEWS | | industry | | | | GIA India Turnaround Time Increases | | Covid-19 spike affecting operations at Mumbai and Surat labs. |  | | | Christie’s to Offer 101ct. ‘Spectacle’ Diamond | | Stone expected to fetch up to $18 million at Geneva Magnificent Jewels auction. | | | | | GIA Wins Court Battle Against Lab with Similar Name | | AIG Belgium told to stop using acronym or face penalty of up to EUR 500,000. | | | | | US Jewelry Store Closure Rate Slows | | Number of operational businesses slipped 1.5% in first quarter, down from 4.2% a year earlier. | | | | | GIA Recalls Diamonds over Treatment Query | | Organization will reassess certain stones with “green or greenish” in color description. | | | | | retail | | | | Kering Sees ‘Excellent’ Jewelry Sales | | Boucheron and Pomellato report solid performance in Japan and Asia-Pacific. | | | | | Stimulus Spurs March US Retail Sales | | Figure up 28% year on year, NRF says. | | | | | China Recovery Boosts Chow Tai Fook | | Retail sales grew 153% year on year in fourth quarter. | | | | | Luk Fook Sales Jump as Economy Reopens | | Stronger consumer sentiment and drop in gold price boost performance in mainland China. | | | | | mining | | | | De Beers’ Rough Production Falls | | Operational issues in Botswana and coronavirus-related closure in Canada dampen first-quarter output. | | | | | Alrosa Sales Rise as Market Strengthens | | Miner offloads inventories amid positive demand and lower production. | | | | | Higher Grades Drive Rio Tinto Production | | Greater ore availability and improvements to processing plant contribute to first-quarter rise. | | | | | Rough-Price Recovery Bolsters Petra’s Sales | | Revenue up 16% to $106 million in third quarter. | | | | | Mine Shutdown Impairs Mountain Province Output | | Site closed for 22 days after several employees tested positive for coronavirus. | | | | | Gem Diamonds Revenue Drops | | Sales slip 7% in first quarter as lower volumes outweigh higher average price. | | | | | Lucapa Reports Strong First Quarter | | Average price per carat rises sharply at Mothae mine in Lesotho. | | | | | general | | | | Bold Bracelets Lead Sotheby’s Hong Kong | | Cartier diamond and rock-crystal piece fetches $6 million, while jadeite bangle brings in $3.9 million. | | | | | GIA Announces Winners of Beyoncé Scholarship | | Singer joins jewelry designer Lorraine Schwartz in funding graduate gemologist diploma for three recipients. | | | | | Sotheby’s New York Sale Fetches $21M | | 41.50-carat, D-flawless diamond ring is top-grossing item, with final price of $4.9 million. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Hong Kong retail stocks fell amid concerns about a global resurgence of Covid-19 cases. Chow Sang Sang (-8%), Chow Tai Fook (-4%) and Luk Fook (-1.4%) all slipped. LVMH (+4%) and Kering (+2%) rose after reporting positive results. Miners had a mixed week. Alrosa (+9%), Lucapa (+7%), Rio Tinto (+4%) and Petra (+4%) benefited from a recovery in rough prices, while Gem Diamonds (-7%), Mountain Province (-4%) and Anglo American (-2%) lost ground. | | | | | 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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