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Rapaport TradeWire April 1, 2021
Apr 1, 2021 8:02 AM
By Rapaport
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| April 1, 2021 | | RAPAPORT MARKET COMMENT |  | | Diamond market quiet during Passover, Easter and India’s Holi festival. Dealers expecting stable 2Q trading. Some concern that rising inventory levels may impact prices during slower season. More polished becoming available due to increase in manufacturing since beginning of the year, as evidenced by GIA backlog. Rough demand expected to drop after robust 1Q buying. 1 ct. RAPI +1.5% in March. Index now above pre-pandemic levels. Optimistic outlook for jewelry sales in US and mainland China. Lack of travel continues to impact tourist retail centers like Hong Kong and Europe. Chow Sang Sang 2020 revenue -15% to $1.9B, profit -15% to $70M. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.79% | -0.94% | 4.48% | | 0.50 ct | -0.63% | -1.07% | 15.00% | | 1.00 ct | 0.03% | 1.47% | 15.50% | | 3.00 ct | -0.33% | 0.53% | 1.69% |  | | 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. | | | | WEEKLY NEWS | | industry | | | | 15.81ct. Pink Could Fetch $38M at Christie’s | | Sakura diamond is the largest of its color ever to appear at auction. |  | | | Diamond Foundry Gets Warning over Ads | | Watchdog says some of the lab-grown company’s language is misleading. | | | | | Alrosa Delays New Rough Supply Deal Again | | Existing contract will carry through until end of second quarter. | | | | | Sotheby’s to Offer 55.19ct. Kashmir Sapphire | | Auction house estimates selling price of up to $3 million at Geneva event. | | | | | retail | | | | De Beers Reveals Growing Synthetics Demand | | Consumers believe lab-grown diamonds to be fun, fashionable and affordable, survey finds. | | | | | Challenging Market Dents Chow Sang Sang Sales | | Revenue fell 15% in 2020 as pandemic restrictions hit sentiment. | | | | | mining | | | | NGO Claims Lethal Ammunition Used at Petra Mine | | Security guards at Williamson swapped rubber projectiles with metal, according to UK-based RAID. | | | | | Mountain Province Loss Widens in 2020 | | Covid-19 impacted sales and operations at Gahcho Kué mine. | | | | | Alrosa Delays April Trading Session | | Miner seeks to maintain industry’s inventory balance. | | | | | Lulo Mine Delivers Windfall of Large Stones | | Lucapa finds another three diamonds over 100 carats. | | | | | Auction Pause Pushes Gemfields to Steep Loss | | Gemstone miner was unable to hold traditional sales for most of 2020. | | | | | general | | | | HRD Antwerp Launches Report for Polki Jewelry | | Style featuring uncut diamonds has gained popularity outside India, lab explains. | | | | | Swiss Watch Group Joins Jewelry Association | | Federation of the Swiss Watch Industry and CIBJO share mission of protecting consumer confidence. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global stocks strengthened amid optimism for an economic recovery. Signet (+10%) and Macy’s (+6%) led US retail equities, while Chow Tai Fook (+15%) headed the gains in Hong Kong. European shares also rode the wave, with Kering (+6%) the best performer in the luxury space. However, most miners had a negative week, with Mountain Province (-5%) losing ground after reporting heavy losses. |  | | | 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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