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Rapaport TradeWire January 20, 2022
Jan 20, 2022 10:53 AM
By Rapaport
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| January 20, 2022 | | RAPAPORT MARKET COMMENT | | | | Diamond market hot as De Beers raises rough prices an estimated 15% for small goods, 5% to 12% for 3-grainer and larger. High premiums on secondary market due to scarcities. Polished demand strong, but suppliers waiting for better prices. Shortage of 3X stones above 0.70 ct. fueling price expectations. US retail driving growth. Signet Jewelers Nov.-Dec. sales +30% to $2.4B. Richemont jewelry maisons 3Q revenue +41% to $3.8B. Forecast mixed for Feb. 1 Chinese New Year. Petra Diamonds 1H sales +49% to $265M, prices +16%. India Dec. polished exports +3% to $1.8B, rough imports +19% to $2.3B. Tiffany & Co. executive Marc Jacheet to replace Stephen Lussier as CEO of De Beers brands. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.17% | 1.49% | -0.87% | | 0.50 ct | 0.51% | 1.71% | 2.65% | | 1.00 ct | 0.34% | 2.25% | 18.72% | | 3.00 ct | 1.16% | 2.30% | 20.04% | | | | 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: Shortage of 3X stones in most desirable categories... | | | | | Belgium: Strong competition for goods, but supply scarce... | | | | | Israel: Lifting of travel restrictions is enabling many to boost ties with US customers... | | | | | India: Local jewelry strong during wedding season... | | | | | Hong Kong: Chinese demand weaker than expected for Lunar New Year shopping period... | | | | | | | The Vicious Rough Cycle | | | | WITH AVI KRAWITZ | Many factors influenced the rise in rough prices this week, but the extent of the hikes at De Beers was surprising and may have been too much for the market to absorb. | | | | | The Jewelry Professional’s Guide to Data Security | | | | WITH MIYA OWENS | In the first of a two-part blog series, the Jewelers Vigilance Committee looks at key issues businesses should consider if they want to protect their digital information. | | | | | A New Dawn for Angola | | | | WITH AVI KRAWITZ | The African nation is trying to shake off its troubled past to establish itself as a major global diamond hub. Rapaport Magazine outlines its findings from the recent Angola International Diamond Conference in Saurimo. | | | | | WEEKLY NEWS | | | | | | De Beers Hikes Rough Prices | | Smaller goods see sharpest increases at January sight. | | | | | India Trade Implores Govt. to Lower Import Duty | | Taxes on polished diamonds should drop to 2.5% from 7.5%, says Gem & Jewellery Export Promotion Council. | | | | | Sotheby’s to Auction 555.55ct. Black Diamond | | Stone will be offered without reserve in a single-lot sale in February. | | | | | De Beers Brand Guru Stephen Lussier to Step Down | | Company hires Tiffany executive Marc Jacheet as successor in top marketing role. | | | | | | | | | Signet Enjoys Best Holiday Season Ever | | Sales jumped 30% year on year during nine-week period. | | | | | Jewelry Leads Sales Growth at Richemont | | Cartier, Van Cleef & Arpels, and Buccellati up 41% in third fiscal quarter. | | | | | Holiday Sales Crush Expectations in Record High | | Revenue for November and December up 14% for total of $886.7 billion. | | | | | China’s Jewelry Market Sees Another Year of Growth | | Sales increase for category was 35% in 2021, compared with 70% in 2020, according to Bain. | | | | | Low Gold Prices Buoy Luk Fook | | Total same-store sales rose 45% in the third fiscal quarter. | | | | | Online Sales Boost Michael Hill in Holiday Quarter | | Revenue for period up 10%. | | | | | | | | | Diavik Production Falls in 2021 | | Plant performance and lower-grade ore in fourth quarter contributed to drop. | | | | | Petra Revenue Receives Boost from Special Stones | | Sales up 49% in first fiscal half. | | | | | Mountain Province Rough Output Drops | | Company misses guidance for 2021 amid decline in ore grade. | | | | | BlueRock Plans to Boost Production, Sales in 2022 | | Miner expects output of 40,000 to 43,000 carats. | | | | | | | | | Large Mumbai Jewelry Park on the Horizon | | Regional authorities agree to allocate land for 1,000-unit facility. | | | | | India’s Diamond Trading Jumps in December | | Polished exports and rough imports rise as strong market continues. | | | | | | Contact Us |  |       | | © Copyright 2022 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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