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Rapaport TradeWire August 13, 2020

Aug 13, 2020 10:50 AM   By Rapaport
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Rapaport TradeWire
August 13, 2020
RAPAPORT MARKET COMMENT
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Sentiment improving after relatively good trading in July-August. Shortages supporting prices. Fewer dealers active in the market. Suppliers with the right goods that meet selective demand gaining market share. Manufacturers considering higher rough purchases as they assess 4Q inventory requirements. Rough buying limited due to travel restrictions and inflated De Beers and Alrosa prices. Alrosa July rough sales -86% to $23M. Sarine 1H profit of $1.2M vs. loss of $2.8M a year earlier, revenue -0.5% to $22M. Hong Kong 2Q polished imports -45% to $2.2B, exports -47% to $1.7B. GIA to provide full color and clarity grading for synthetics. ABN Amro to cease Hong Kong diamond lending.

Alrosa Usa 600 X160 2
RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct 0.88% 3.20% 5.30%
0.50 ct 1.07% 5.01% 2.78%
1.00 ct 0.86% 2.26% -4.86%
3.00 ct 0.10% 1.10% -7.33%
RAPI Yearly Graph
Jm 600X160 V2
Market Reports
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United States: Stronger retail sales stimulating demand for select polished diamonds...
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Belgium: Rising concerns about credit shortage when De Beers and Alrosa clients return to rough buying...
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Israel: Sentiment slightly improved, as dealers have made some sales and depleted inventories of in-demand goods...
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India: Trading stable, with suppliers trying to fill orders before Jain festival of Paryushan (August 15 to 22)...
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Hong Kong: Steady interest in 0.80 to 1 ct., D-G, VVS-VS diamonds (3X, none) for engagement rings supporting the trade...
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Trade Wire 600X160 April 2018
A Crucial Moment for Artisanal Miners
WITH Avi Krawitz

The recent merger of the Diamond Development Initiative (DDI) and Resolve could provide much-needed resources for the artisanal mining sector. Let’s hope it also stimulates the wider industry to support this important part of the global diamond community.

How to sell vintage engagement rings
WITH Jewelry Connoisseur by Rapaport

Los Angeles dealer Jerome Heidenreich answers four key questions about stocking and selling estate bridal jewelry.

UPS AND DOWNS
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High Jewelry Is Booming at Christie’s and Sotheby’s
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Diamond Giant Pours $38M into Zimbabwe
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The Luxury Sector Has Been Hit Hard by the Virus
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Botswana Rough Sales Fall Due to Covid-19 Travel Ban
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Gia Tw Banner Id100 11 June 20
WEEKLY NEWS
industry
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What De Beers and Alrosa Clients Really Want
Complaints about high rough prices and weak profit margins are intrinsically linked to the question of customization.
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GIA to Give Full Color, Clarity Grades for Lab-Grown
Digital-only service to launch in fourth quarter.
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ABN Amro to Cease Hong Kong Diamond Lending
Bank will continue to “de-risk” its credit business in Belgium.
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To Speak Out, or Not to Speak Out?
Jewelers disagree on whether it’s worth voicing their opinions on social and political issues.
retail
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Tiffany Ranked Among ‘Hot 100’ Retailers
NRF scored companies based on US sales growth between 2018 and 2019.
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Diamonds High on Holiday Gift Lists
Consumers showing strong interest in the category across US, India and China, De Beers survey finds.
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Retail Sales Slide at Berkshire Hathaway
Many stores shut in second quarter due to pandemic.
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India’s Titan Incurs ‘Unprecedented’ Loss
Store closures, weak consumer sentiment and wedding postponements hit sales.
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Forevermark Debuts in New Zealand
Partnership with Partridge Jewellers brings De Beers brand to Auckland, Wellington and Christchurch.
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Jewelry Brand Fana Names Sales Specialists
Shelby Sterrett, Steve Rumanoff and Eric Sigg will help New York-based company interact with retail partners.
mining
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Alrosa Finds Russia’s Largest Colored Diamond
Miner recovers 236-carat, intense-yellow-brown stone at Ebelyakh deposit in Yakutia.
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Lucara Ends Second Quarter at a Loss
Miner halted large-stone tenders amid weak market.
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Mountain Province in the Red as Demand Slows
Company reports first-half loss of $51 million.
general
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Sarine Turns Profit Following Cutbacks
Furloughs and pay reductions offset sales slowdown during pandemic.
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Hong Kong Trading Hits New Low
Polished imports down 45% in second quarter.
600X160 Rapmag
FINANCE
Diamond Industry Stock Report
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US stocks rallied amid optimism about an economic recovery and a government stimulus package. Signet (+25%), Macy’s (+11%) and Walmart (+1.6%) all grew. European retail shares also rose, with Pandora (+7%), Richemont (+7%), LVMH (+6%) and Kering (+5%) gaining. Miners had a good week: Gem Diamonds (+15%), Mountain Province (+13%), Lucapa (+9%) and Petra (+7%) increased. Lucara (-5%) slipped following disappointing results.

Rapnet Trade Wire
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Tw Square – Ss August 19 26 2020
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