News

Advanced Search

Rapaport TradeWire July 2, 2020

Jul 2, 2020 10:21 AM   By Rapaport
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
Rapnet 600X160 Covid
Rapaport TradeWire
July 2, 2020
RAPAPORT MARKET COMMENT
image

Polished trading slow despite improved retail sales in China. US jewelers limiting purchases, as they have enough inventory to meet 3Q demand. Trade sees potential for good holiday season since consumers are not spending on travel. Major retailers investing in technology to drive multichannel sales. Savvy independents nurturing ties with local communities to maintain market share. Rough market quiet. De Beers and Alrosa prepared to sell fewer diamonds at higher prices through the downturn. India extends voluntary ban on rough imports. Christie’s sets record with online sale of emerald, 28.86 ct., D, VVS1 diamond ring for $2.1M ($73,284/ct.). GIA, IGI reopen NY labs.

Amipi Rapnet Tradewire
RAPNET DIAMOND INDEX (RAPI)
image
Weekly Monthly Y2Y
0.30 ct 0.48% -0.44% -1.24%
0.50 ct 0.60% 1.38% -5.22%
1.00 ct 0.02% 1.87% -8.62%
3.00 ct 0.97% -1.60% -9.57%
RAPI Yearly Graph
Trade Wire 600X160 April 2018
Market Reports
image
United States: Dealers happy to be back in the market and are skipping their usual July summer break...
image
Belgium: Low rough sales expected to continue in July even as Alrosa considers viewings in Antwerp...
image
Israel: Shortages supporting market for pear and oval, 1.50 to 2 ct., F-J, VS goods...
image
India: Some interest from Hong Kong for dossiers, with stable demand for 1 ct., D-H, VS-SI goods...
image
Hong Kong: Trading limited to local dealers, since quarantine requirements for arriving foreigners are restricting activity...
image
Gia Tw Banner Id100 11 June 20
Chow Tai Fook Expanding China Store Count
WITH The Rapaport Diamond Podcast

Jewelry retailer Chow Tai Fook is opening new stores in China and investing heavily in digital channels. Managing director Kent Wong explains the company’s strategy in the final episode of Rapaport’s Recovery Webinar Series. 

Victorian jewelry: From the mad to the marvelous
WITH Jewelry Connoisseur by Rapaport

In the latest podcast episode, Sarah Duncan, a London-based jewelry historian and executive at Chiswick Auctions, highlights some of the most intriguing jewels of the Victorian age, placing them in their cultural and historical contexts.

UPS AND DOWNS
image
How Tiffany Became a Leader in Diamond Provenance
image
12ct. Blue Diamond Could Fetch $12M
image
Alex and Ani Founder Sues Company’s Owner
image
The Clock Is Ticking for Luxury Brands Post-Covid-19
image
600X160 Mag
WEEKLY NEWS
industry
image
News Thumbnail
Buyers Snub De Beers and Alrosa over High Prices
Rock-bottom sales continue in June as clients see better value at open tenders.
News Thumbnail
India Extends Import Curbs as Surat Shuts Again
Trade bodies recommend rough-shipment freeze between July 10 and 31.
News Thumbnail
29ct. Diamond Sets Online Record at Christie’s
Emerald-cut, D-color stone sells for $2.1 million.
retail
image
News Thumbnail
Jewelers See Positive Signs as Business Restarts
As US retailers struggle to pick up the pieces following shutdowns, many are hopeful that a recovery is on its way.
News Thumbnail
Hong Kong Retail Sales Fall Sharply in May
Revenue from jewelry and other luxury items down 70% to $261 million.
News Thumbnail
Pandemic Pinches Luk Fook Revenue
Coronavirus and social unrest in Hong Kong damage full-year figures.
mining
image
News Thumbnail
Alrosa Mine Restarts Following Virus Closure
Company suspended operations at International deposit after employees tested positive for Covid-19.
News Thumbnail
Petra Seeks Buyer for Its Business
Miner plans to sell all or some of its assets to repay $650 million debt.
News Thumbnail
Sarine to Provide ‘Birth Certificate’ for Lucara Rough
Technology company will offer provenance information for stones listed on miner’s Clara platform.
News Thumbnail
Stornoway Shakes Up Top Management
Patrick Sévigny takes the helm following exit of CEO Patrick Godin.
general
image
News Thumbnail
ISDMA Elects Nissim Zuaretz as President
D.N. Diamonds founder will succeed Kobi Korn for three-year term.
News Thumbnail
IGI Opens Doors at New York Grading Lab
Office will operate with limited staff numbers and staggered shifts.
News Thumbnail
Dubai, China Establish Diamond Partnership
Agreement will create new trading opportunities for both parties.
Rninst Inv Bandealers 061120 Static 600X160 Fix 2
FINANCE
Diamond Industry Stock Report
image

Macy’s (-3%) fell after announcing mass job cuts. Other retail stocks had a positive week, with Signet (+6%) and Luk Fook (+5%) gaining. European shares rose amid a gradual economic recovery: Pandora (+6%), LVMH (+4%), Kering (+4%) and Richemont (+3%) all increased. Mining stocks slipped, with Petra (-19%) plummeting after putting itself up for sale. Gem Diamonds (-10%) and Lucara (-6%) also fell. Lucapa (+13%) bucked the trend.

Rapnet Trade Wire
300X300 Mag Cover
20133 107 02 Tradewire Box 2 July Single Stone Revised
Ris Jclaunch Banners 121619 Statics Final 300X300 New
Contact Us
image
Facebook  Twitter  LinkedIn  Google+  RSS  Email
© Copyright 2020 Martin Rapaport. All Rights Reserved.
Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks.
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
Similar Articles
Rapaport TradeWire July 30, 2020
Jul 30, 2020
Industry Retail Mining General Finance July 30, 2020 RAPAPORT MARKET COMMENT Sentiment weak as trading
Rapaport TradeWire June 25, 2020
Jun 25, 2020
Industry Retail Mining General Finance June 25, 2020 RAPAPORT MARKET COMMENT Market uncertainty continues
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2020 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.