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Rapaport TradeWire February 4, 2021

Feb 4, 2021 11:50 AM   By Rapaport
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Rapaport TradeWire
February 4, 2021
RAPAPORT MARKET COMMENT
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Polished market segmented. Goods below 1 ct. softening, with slowdown in D, IF category after strong 2020 recovery. 1.50 ct. and larger firm. 1 ct. RAPI -0.6% in Jan., 3 ct. +1.7%. Polished inventory expected to rise in coming months after strong Dec.-Jan. rough buying. De Beers Jan. sales +18% to $650M. Letšeng 4Q sales +6% to $55M, average price +11% to $1,907/ct. Hong Kong dealer market slowing ahead of Feb. 12 Chinese New Year. Mainland China retail robust and anticipating strong growth versus pandemic-affected 2020 season. India exempts online rough auctions from 2% e-commerce tax, maintains 7.5% duty on polished imports. India 2020 polished exports -31% to $14.2B.

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RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct -1.21% -1.47% -3.06%
0.50 ct -0.73% -2.20% 8.89%
1.00 ct 0.16% -0.68% 5.26%
3.00 ct -0.52% 1.20% 5.73%
RAPI Yearly Graph
Trade Wire 600X160 April 2018
Market Reports
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United States: Steady demand for ovals and emeralds above 2 ct. as consumers seek unique pieces that express individuality...
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Belgium: Rough market steady, with high volumes of goods available after large January De Beers sight...
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Israel: Slow movement in goods under 1 carat...
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India: Dealers waiting for post-Valentine’s Day memo returns to assess true state of the market...
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Hong Kong: More local jewelers planning to move online as tourist slowdown continues to hamper in-store sales...
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The Transformation of Diamond Grading
WITH The Rapaport Diamond Podcast

How well can artificial intelligence resolve disputes about grading inconsistencies, and how might the automation of processes impact the trade? A panel of experts debates these questions in the third installment of Rapaport’s technology series, which examines the effect that digital initiatives will have on the diamond grading environment.

Beware a Supply Bottleneck
WITH Avi Kravitz

Despite strong holiday demand, the recent surge in rough buying could upset the market’s hard-won equilibrium. The Rapaport Research Report considers whether the prospects for 2021 justify the trade’s current restocking efforts. 

Shedding light on fancy white
WITH Jewelry Connoisseur by Rapaport

Not to be confused with colorless stones, diamonds of this rare hue owe their opalescent shimmer to micro-inclusions. Designers are scouring the globe for specimens, writes Diana Jarrett.

UPS AND DOWNS
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Foreign Entities Can Now Fully Own Mines in Zimbabwe
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De Beers Adopts Strategy to Meet Carbon-Neutral Goal
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Why Amazon Rivals Shouldn’t Rest Easy After Bezos Exit
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Think 2020 Was Bad for Retail? 2021 Will Be Even Worse
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WEEKLY NEWS
industry
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Diamond Prices Soften as Supply Rises
Polished market likely to cool once China and US holiday seasons are over.
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De Beers Sales Hit Three-Year High
January cycle garners $650 million as manufacturers replenish inventory.
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Silver’s ‘Reddit Rally’ Rattles the Market
Soaring prices could threaten consumer demand.
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India Slashes Import Taxes on Gold, Silver
New e-commerce levy doesn’t apply to rough purchases, government also clarifies.
retail
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Valentine’s Day Jewelry Spending Loses Shine
Some 18% of consumers plan to splurge on the category this year, compared with 21% last year, National Retail Federation predicts.
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Jewelry Retailers Enjoy Post-Lockdown Growth
Survey notes rise in online traffic and strong engagement-ring demand.
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Helzberg Launches Lab-Grown Bridal Collection
Jeweler partners with celebrity designer Jenny Packham.
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Hong Kong Retail Dives in December
Sales of jewelry, watches, clocks and other valuable goods down 41% year on year.
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Natural Diamond Council Debuts Retailer Program
Partnership enables jewelers to use organization’s marketing materials at a local level.
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Pandora Sales Slip Amid Lockdowns
Fourth-quarter revenue down 1% as store traffic slumps.
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Kendra Scott Steps Down as CEO of Jewelry Brand
Founder of namesake company will continue as executive chairwoman and majority owner.
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Swatch Group Sales Slide as Tourism Dries Up
Revenue at Harry Winston owner down 32% in 2020.
mining
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Dominion Ready to Roll After Completing Ekati Sale
Miner resumed full operations on January 20, and will recall employees by February 25.
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Gem Diamonds Sales Rise as Prices Rebound
Miner ends 2020 as one of the few to record revenue growth.
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Firestone Mine Remains Shut Amid Debt Talks
Company expects to complete restructuring discussions during first half of 2021.
general
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De Beers to Fund Designer in Producing Country
Award of GBP 10,000 will go to a student in Botswana, Canada, South Africa or Namibia.
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Remote Learning the Focus of GIA 2021 Scholarships
Institute will offer $2 million to budding gemologists this year.
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US Polished Imports See 20th Consecutive Drop
Shipments down 1% in November as average price tanks.
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Gold-Jewelry Demand Slumps to Record Low
Pandemic and high prices deter consumers in 2020, according to World Gold Council.
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India Trade Group Elects Chairman
Ashish Pethe will serve two-year term at the All India Gem and Jewellery Domestic Council.
600X160 Tech Podcast Ep 3
FINANCE
Diamond Industry Stock Report
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Macy’s (-17%) plummeted again following a surge last week that stemmed from the Reddit-related rush toward highly shorted stocks. Other shares rose amid higher expectations for 2021 growth and discussions over a fresh US stimulus package. Signet (+7%), Swatch (+8%), Birks (+5%), LVMH (+4%) and Chow Tai Fook (+3%) all gained. Mining had a mixed week, as Lucara (-9%) and Mountain Province (-5%) lost ground, while Petra (+3%) and Gem Diamonds (+1%) increased.

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