|
|
Rapaport TradeWire April 16, 2020
Apr 16, 2020 11:20 AM
By Rapaport
|
|
|
| April 16, 2020 | | RAPAPORT MARKET COMMENT |  | | Diamond industry under stress as mining, manufacturing and retail centers remain closed during COVID-19 lockdown. US government starts $2.2 trillion stimulus to help relieve liquidity pressures as new unemployment claims exceed 20 million in April. US retail sales slide -6.2% in March. China retail reopening to light traffic. Chow Tai Fook 4Q China same-store sales -50%, Hong Kong/Macau -65%. Some junior miners deem operations uneconomical at current low rough prices. Petra Diamonds prices -27% in March. Alrosa reduces inventory -6% to 21.1 million carats in 1Q, sells $149M rough and $4.2M polished in March. Exhibitors clash with Baselworld over refund policy as watch majors Rolex, Patek Philippe, Chanel, Chopard and Tudor pull out. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.64% | -4.25% | -5.83% | | 0.50 ct | -0.31% | -4.14% | -9.24% | | 1.00 ct | -0.07% | -5.27% | -13.15% | | 3.00 ct | -0.94% | 6.22% | -10.63% |  | | 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: Retailers closed nationwide, with major jewelers furloughing workers... |  |  | Belgium: AWDC to host webinar on April 17 explaining government support measures during COVID-19... | | |  | Israel: Israel Diamond Exchange president Yoram Dvash outlines benefits available to diamantaires... | | |  | India: Some manufacturing sectors could resume before May 3 end to lockdown... | | |  | Hong Kong: Retail inventory levels higher than normal, with Chow Tai Fook reporting 15% year-on-year inventory increase on February 29... | | |  | | | Face-to-Face Value |  | | WITH Jewelry Connoisseur | Buying jewelry from the public comes with its share of both risks and rewards. Estate expert Russell Fogarty shares what some of them are. |  | | | WEEKLY NEWS | | industry | | | | Baselworld Mulls Its Future as More Brands Quit | | Rolex and Patek Philippe exit to launch breakaway show. |  | | | Alrosa Reduces Inventory in First Quarter | | Sales fall but still exceed production. | | | | | Hong Kong Shows Postponed to August | | Events originally slated for March have been rescheduled a second time. | | | | | retail | | | | US Retail Sales See Record Decline | | March slowdown worse than during November 2008 recession, NRF says. | | | | | Chow Tai Fook Revenue Tumbles Due to Virus | | Quarterly same-store sales down 50% in China and 65% in Hong Kong and Macau. | | | | | Graff Donates $1M to Fight Pandemic | | Money will help provide medical supplies in the most vulnerable countries. | | | | | mining | | | | Alrosa Sales Slump to $153M in March | | Rough revenue plummets 60% amid COVID-19 pandemic. | | | | | Petra Sees Rough Prices Drop 27% | | Miner holds back goods to sell when conditions improve. | | | | | Lucapa Inks Polishing Partnership for Mothae | | Unnamed diamantaire buys first 3,963 carats for $2 million. | | | | | general | | | | Exhibitors Clash with Baselworld over Refund Policy | | Show attendees claim they were not consulted about new dates, which conflict with other fairs. | | | | | India’s Polished Exports Fall 41% in February | | Drop reflects lower demand from Hong Kong and China. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Retail stocks rebounded following major slumps amid the coronavirus pandemic. Macy’s (+29%), Signet (+21%), Chow Tai Fook (+17%), LVMH (+6%) and Richemont (+5%) all rose. J.C. Penney (-30%) fell after reports that it might need to file Chapter 11. Mining stocks also showed improvements, with Petra (+95%), Gem Diamonds (+26%), Mountain Province (+13%) and Lucara (+13%) all up. | | | | | Contact Us |  |       | | © Copyright 2020 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|