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Rapaport TradeWire March 25, 2021

Mar 25, 2021 11:22 AM   By Rapaport
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Rapaport TradeWire
March 25, 2021

Polished trading seasonally slow ahead of Passover and Easter holidays. Some distress over another Covid-19 wave in Europe and India. Dealers still confident for 2021. Projections show strong 2Q growth compared to 2020 lockdown period. Vaccine rollout, stimulus checks fueling optimism among US dealers and jewelers. GIA backlog causing inventory concerns. Manufacturer profit margins tightening following robust rough buying and price hikes. De Beers limiting goods during March sight. Industry mourns passing of iconic Tiffany & Co. designer Elsa Peretti and former Sterling Jewelers CEO Nate Light.

Trade Wire 600X160 April 2018
Weekly Monthly Y2Y
0.30 ct -0.62% -0.01% 4.91%
0.50 ct -0.58% -0.30% 15.45%
1.00 ct 0.06% 1.63% 15.25%
3.00 ct -0.08% 1.30% 2.68%
RAPI Yearly Graph
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Market Reports
United States: Top-quality fancy shapes in 2 to 3 ct. range selling well, with shortages supporting prices...
Belgium: Concern growing over increase in Covid-19 cases and pending lockdown...
Israel: Business activity slackening despite lifting of pandemic restrictions...
India: More polished becoming available due to rise in manufacturing since the beginning of the year...
Hong Kong: Local retail sluggish amid ongoing lack of tourism and slow rollout of vaccinations...
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Making Up for Lost Time
WITH Roberta Naas

Watch brands and retailers had to shift gears in 2020 as Covid-19 disrupted business. How will those changes carry over into the year to come?

How LVMH Grew Fred in a Pandemic
In Jeweler Survey, 54% Report Sales Growth for February
De Beers Focuses on Finding Botswana’s ‘New Jwaneng’
Zimbabwe State Diamond Miner on Brink of Collapse
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GIA Backlog Raising Concerns for Manufacturers
Increase in demand for grading has led to severe delays.
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Lorraine Schwartz Initiative Names First Participants
Six designers will receive $20,000 each through project with Natural Diamond Council.
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Grib Sees Price Rise for Smaller Rough
March sale brings in more than $50 million, with some categories beating expectations.
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Engagement-Ring Spending Drops Slightly
Consumers shelled out an average of $5,500 in 2020, compared to $5,900 in 2019.
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Tiffany Mourns Famed Designer Elsa Peretti
Jewelry creator transformed everyday items into bracelets and necklaces.
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Sterling’s Nate Light Dies at 86
Former CEO was responsible for the jewelry powerhouse’s growth.
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Silver Jewelry Demand Strong in 2020, Survey Finds
42% of retailers reported an increase in sales, Silver Promotion Service notes.
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Banks Sign Up to Fund Lucara’s Karowe Expansion
Five institutions to finance underground project at Botswana mine.
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Ellendale Mine to Change Hands Again
Gibb River to sell project to Burgundy Diamond Mines for $5.1 million plus company shares.
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Lucapa Completes Mothae Expansion
Project will increase output at the mine by 45%.
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Christie’s Gets Colorful with New York Auction
Three fancy-vivid diamond rings will lead sale.
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Jonathan Kendall Assumes Jewelry Trade Role
Former De Beers executive will help plan CIBJO’s strategy.
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41.50ct. Diamond to Lead Sotheby’s New York
Auction house expects D-flawless stone to fetch up to $5.5 million.
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Christie’s Online Jewelry Auction Sells Out
Company garners $799,125, with many items beating estimates.
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New Trade Show to Launch in Dubai
Jewellery, Gem & Technology (JGT) is the work of Informa and Italian Exhibition Group, two major fair organizers.
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New Jewelry Center Mulling Design School
Time Century mall in Miami will grant students access to seasoned practitioners.
600X160 Rapmag
Diamond Industry Stock Report

Global stocks fell this week amid concerns about further Covid-19 waves. Macy’s (-23%), Birks (-21%), Signet (-12%), Kering (-7%), Chow Tai Fook (-5%), Luk Fook (-5%) and Swatch Group (-5%) all slid. Mining stocks also fared poorly: Mountain Province (-15%), Anglo American (-5%), Lucara (-5%), Petra (-5%) and Rio Tinto (-4%) declined. Lucapa (+5%) bucked the trend after reporting an increase in the resource estimate at its Lulo mine in Angola.

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