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Rapaport TradeWire September 24, 2020
Sep 24, 2020 10:38 AM
By Rapaport
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| September 24, 2020 | | RAPAPORT MARKET COMMENT |  | | Polished prices firm amid shortages and improving holiday orders. Trading restrained due to continued rise in Covid-19 cases. Jewelers preparing 4Q marketing with emphasis on e-commerce strategies to drive growth. Retailers pushing dealers for memo. More manufacturers insisting on cash deals. Steady rough buying during sight week as Surat cutters try to increase production and fill polished supply gaps. De Beers reduces prices by 5% to 10% for rough below 1 ct. Dominion gains $46M at first sale since March. US July polished imports -50% to $806M, exports -25% to $868M. Rapaport offices will be closed on Monday, September 28, due to Yom Kippur. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.27% | 1.71% | 13.22% | | 0.50 ct | 0.26% | 3.89% | 15.22% | | 1.00 ct | 0.34% | 2.83% | 1.09% | | 3.00 ct | 0.47% | 1.52% | -4.39% |  | | 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: Bridal segment robust and seeing solid interest in 1 to 2 ct., G-I, VS-SI diamonds... |  |  | Belgium: More polished expected to become available next month as manufacturers gradually raise production... | | |  | Israel: Rising interest in fine-cut fancy shapes... | | |  | India: Some improvement in jewelry sales amid stable gold price... | | |  | Hong Kong: Expectations for good retail sales in mainland China during October 1 Golden Week... | | |  | | | Trend Report: Covid-19 Driving Move to Digital |  | | WITH John Costello | Jewelers are preparing their holiday marketing with an emphasis on e-commerce, part of a notable shift in the industry toward embracing online solutions. |  | | | WEEKLY NEWS | | industry | | | | De Beers Reduces Prices of Smaller Rough | | Miner makes cuts of 5% to 10% for goods under 1 carat. |  | | | Diamond Grading Gets an International Standard | | New ISO guide aims to reduce inconsistency among labs. | | | | | Rough Sales Pick Up as Market Begins Rebound | | Mountain Province, Lucapa and Alrosa see “encouraging” signs. | | | | | retail | | | | LVMH-Tiffany Trial Set for January | | Court approves US jeweler’s request to fast-track lawsuit. | | | | | Charles & Colvard Embraces Lab-Grown Diamonds | | Moissanite maker creates line of bridal and fashion jewelry. | | | | | Diamond Sales Set for Resurgence – De Beers | | Women are wearing more diamond jewelry than in previous Covid-19 waves. | | | | | Tiffany to Track Diamonds Down to the Mine | | Retailer plans 100% traceability by 2025. | | | | | mining | | | | Dominion Restarts Rough Sales | | Miner brings in $46 million at first tender since March. | | | | | Alrosa Names New Belgium Chief | | Akil Zubir previously ran the miner’s insurance division. | | | | | Letšeng Yields Two More Large Stones | | Gem Diamonds recovers 166-carat white and 77-carat yellow. | | | | | Zimbabwe State Diamond Miner Gets New CEO | | Mark Mabhudhu will help government body achieve goal of $12 billion in revenue by 2023. | | | | | general | | | | VicenzaOro Lifts Sentiment Despite Slow Sales | | Attendance at Italian show well below pre-pandemic levels. | | | | | Jewelers of America Seeks Answers on Diversity | | Study addresses hiring practices, inclusion and racial discrimination. | | | | | IGI Enhances Security of Grading Reports | | Institute adds protective features, including lab’s seal and tamper-evident label. | | | | | Bonhams Appoints Hong Kong Jewelry Head | | Leslie Roskind was previously the auction house’s senior specialist for New York division. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global stocks took another tumble this week as investors worried about uncertainty surrounding a resurgence of Covid-19 cases and whether the US government would provide a further stimulus package. Retail shares including Macy’s (-13%), Luk Fook (-9%), Richemont (-6%), Chow Sang Sang (-5%) and Signet (-4%) all slid. Mining also fared poorly, with Anglo American (-7%), Lucapa (-6%), Lucara (-6%) and Alrosa (-3%) all losing steam. Mountain Province (+5%) bucked the trend after encouraging results from its first rough sale since March. | | | | | Contact Us |  |       | | © Copyright 2020 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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