Advanced Search

Rapaport TradeWire February 27, 2020

Feb 27, 2020 11:10 AM   By Rapaport
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
26 Nov 19 Igi Tw Banner Jewelry
Rapaport TradeWire
February 27, 2020

Diamond market weak as coronavirus shuts down China and weighs on global economy. Financial markets slump with Dow -7% (Feb. 21-27). Gold rallies +4% to $1,653 per ounce (Feb. 1-27). Indian market facing severe liquidity crunch as sales to China stop. Luxury retailers reviewing Hong Kong presence after 2019 protests and ongoing epidemic lead to drop in sales. De Beers gives sightholders added flexibility on Chinese goods, with projections for small Feb. sight. Rio Tinto diamond unit 2019 revenue -11% to $619M, loss of $21M vs. profit of $118M the previous year. India Jan. polished exports -6% to $1.7B, rough imports -11% to $763M.

5 Nov 2019 Gemolithos Tw Banner
Weekly Monthly Y2Y
0.30 ct -0.29% 0.74% -4.01%
0.50 ct -0.29% -1.02% -4.04%
1.00 ct -0.57% -1.72% -6.81%
3.00 ct -0.47% -3.70% -16.24%
RAPI Yearly Graph
Alrosa Usa 600 X160 1
Market Reports
United States: Dealers concerned that too much excess inventory is being sent to the US amid plummeting stock markets...
Belgium: Virus’s recent spread to Italy and other European countries has added to uncertainty...
Israel: Steady demand and firm prices for round, 1.50 to 5.99 ct., G-J, I1 diamonds and oval and pear, 1.50 to 5.99 ct., G-J, VS2-SI2 goods...
India: Diamonds with lower color and clarity moving better than higher-end items...
Hong Kong: Sporadic orders from other countries in the region, such as Japan, Singapore, Thailand and Malaysia, with 0.20 to 0.50 ct., D-F, VVS-SI1 selling...
26 Jan 2020 Tw Banner Jm Shipping Solution
China’s Diamond Trade Weighs Virus Effect
WITH Joshua Freedman

The diamond industry in China anticipates a release of pent-up demand when the coronavirus goes away. But for now, retail is almost dead, bourses are quiet, and even importing rough has been challenging.

Bringing Out the Richest Hue in a Colored Diamond
WITH Jewelry Connoisseur by Rapaport

While cutting white diamonds is all about reflecting light, fancy shapes often bring out the best in colored stones.

Alrosa to Be Largest Producer of Colored Diamonds
GJEPC Seeks Rough Supply for SMEs
J.C. Penney Expects Sales Declines to Continue
Luxury Braces for $43B in Losses Due to Coronavirus
Trade Wire 600X160 April 2018
News Thumbnail
De Beers Lets Sightholders Defer Chinese Goods
Concerns rising over weak demand and growing inventories.
News Thumbnail
NY Dealer Sentenced in Memo Theft Case
Isaac Dayan stole nearly $600,000 in loose diamonds from 11 businesses.
News Thumbnail
Geneva Watch Fair Canceled; Baselworld Still On
Organizers acknowledge “duty” to anticipate health risks.
News Thumbnail
HRD Antwerp Not for Sale (for Now)
AWDC approves new CEO Ellen Joncheere’s turnaround plan.
News Thumbnail
US Retail to Grow in 2020, NRF Predicts
Sales expected to top $3.9 trillion despite trade war, coronavirus and presidential election.
News Thumbnail
Couples Shelling Out More on Engagement Rings
Average spending increased 4% to $5,900 in 2019, according to The Knot.
News Thumbnail
Retail Sales Rise at Berkshire Hathaway
Revenue for the division up 2.5% for the year.
News Thumbnail
Online Growth Boosts Michael Hill Sales
Half-year revenue and profit climb following e-commerce investments.
News Thumbnail
Rio Tinto Diamond Revenue Drops in 2019
Sales fall 11% as rough prices weaken.
News Thumbnail
Firestone Faces Fallout from Power Disruption
Monthlong shutdown estimated to cost miner $4.6 million.
News Thumbnail
New Alrosa Mine Yields 17ct. Yellow
Stone is the first colored diamond found at Verkhne-Munskoye deposit, which opened in 2018.
News Thumbnail
Lucara Revenue Beats Expectations
Figure up 9% to $192.5 million in 2019.
News Thumbnail
Lab Spots New Method for Masking Synthetics
GSI receives stone that had been altered to resemble a natural diamond.
News Thumbnail
Weak Market Drives Sarine to Full-Year Loss
Soft polished demand led to lower recurring revenues from inclusion-mapping equipment.
News Thumbnail
India’s Diamond Shipments Decline
Rough and polished trading slows in January.
News Thumbnail
GIA Names New Mineral ‘Dutrowite’
Moniker is in honor of Barbara Dutrow, a gemological researcher and governor of the institute.
13 Nov 2019 Gia Id 100 Machine Tw Banner
Diamond Industry Stock Report

Stocks went into free fall this week, driven by concerns the coronavirus was rapidly spreading outside of China. Macy’s (-17%), Signet (-17%), LVMH (-11%), Kering (-11%) and Chow Tai Fook (-7%) all plunged. Miners also suffered, with Petra (-28%), Rio Tinto (-12%), Mountain Province (-8%), Alrosa (-8%) and Lucara (-7%) dropping. Firestone (-70%) slid following disappointing results, while Lucapa (+25%) rose after reporting progress with its exploration work in Angola.

Rapnet Trade Wire
Tradewire Square February Qp Ml V2
Rn Comp Edge 021320 300X300Px Static V1
Tw Banner Ad Final 022720 1
Contact Us
Facebook  Twitter  LinkedIn  Google+  RSS  Email
© Copyright 2020 Martin Rapaport. All Rights Reserved.
Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks.
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
Similar Articles
Rapaport TradeWire January 14, 2021
Jan 14, 2021
Retail Industry Mining General Finance January 14, 2021 RAPAPORT MARKET COMMENT Polished sentiment positive
Rapaport TradeWire December 24, 2020
Dec 24, 2020
Industry Retail Mining General Finance December 24, 2020 RAPAPORT MARKET COMMENT Mood optimistic as US and
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2021 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.