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Rapaport TradeWire February 4, 2021
Feb 4, 2021 11:50 AM
By Rapaport
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| February 4, 2021 | | RAPAPORT MARKET COMMENT |  | | 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.
| | | RAPNET DIAMOND INDEX (RAPI™) | | | | 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% |  | | 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: Steady demand for ovals and emeralds above 2 ct. as consumers seek unique pieces that express individuality... |  |  | Belgium: Rough market steady, with high volumes of goods available after large January De Beers sight... | | |  | Israel: Slow movement in goods under 1 carat... | | |  | India: Dealers waiting for post-Valentine’s Day memo returns to assess true state of the market... | | |  | Hong Kong: More local jewelers planning to move online as tourist slowdown continues to hamper in-store sales... | | |  | | | 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. | | | | | WEEKLY NEWS | | industry | | | | Diamond Prices Soften as Supply Rises | | Polished market likely to cool once China and US holiday seasons are over. |  | | | De Beers Sales Hit Three-Year High | | January cycle garners $650 million as manufacturers replenish inventory. | | | | | Silver’s ‘Reddit Rally’ Rattles the Market | | Soaring prices could threaten consumer demand. | | | | | India Slashes Import Taxes on Gold, Silver | | New e-commerce levy doesn’t apply to rough purchases, government also clarifies. | | | | | retail | | | | 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. | | | | | Jewelry Retailers Enjoy Post-Lockdown Growth | | Survey notes rise in online traffic and strong engagement-ring demand. | | | | | Helzberg Launches Lab-Grown Bridal Collection | | Jeweler partners with celebrity designer Jenny Packham. | | | | | Hong Kong Retail Dives in December | | Sales of jewelry, watches, clocks and other valuable goods down 41% year on year. | | | | | Natural Diamond Council Debuts Retailer Program | | Partnership enables jewelers to use organization’s marketing materials at a local level. | | | | | Pandora Sales Slip Amid Lockdowns | | Fourth-quarter revenue down 1% as store traffic slumps. | | | | | Kendra Scott Steps Down as CEO of Jewelry Brand | | Founder of namesake company will continue as executive chairwoman and majority owner. | | | | | Swatch Group Sales Slide as Tourism Dries Up | | Revenue at Harry Winston owner down 32% in 2020. | | | | | mining | | | | Dominion Ready to Roll After Completing Ekati Sale | | Miner resumed full operations on January 20, and will recall employees by February 25. | | | | | Gem Diamonds Sales Rise as Prices Rebound | | Miner ends 2020 as one of the few to record revenue growth. | | | | | Firestone Mine Remains Shut Amid Debt Talks | | Company expects to complete restructuring discussions during first half of 2021. | | | | | general | | | | 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. | | | | | Remote Learning the Focus of GIA 2021 Scholarships | | Institute will offer $2 million to budding gemologists this year. | | | | | US Polished Imports See 20th Consecutive Drop | | Shipments down 1% in November as average price tanks. | | | | | Gold-Jewelry Demand Slumps to Record Low | | Pandemic and high prices deter consumers in 2020, according to World Gold Council. | | | | | India Trade Group Elects Chairman | | Ashish Pethe will serve two-year term at the All India Gem and Jewellery Domestic Council. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | 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. | | | | | 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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