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Rapaport TradeWire March 4, 2021
Mar 4, 2021 11:30 AM
By Rapaport
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| March 4, 2021 | | RAPAPORT MARKET COMMENT |  | | Market sentiment upbeat. Steady trading levels supported by US demand and gradual return of Chinese buyers. Retailers optimistic amid expectations that Covid-19 vaccine rollout and $1.9 trillion stimulus will boost economy. E-commerce still driving growth. Polished prices stable; 1 ct. RAPI +0.8% in Feb. Manufacturers concerned about tightening profit margins following rough-price hikes in last three months. Alrosa 4Q revenue +55% to $1.3B, profit +82% to $288M. Sarine 2020 revenue -20% to $41M. De Beers piloting project to track value by monitoring sightholders’ use of supply. Stuart Samuels elected president of Diamond Manufacturers & Importers Association of America. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.14% | 1.12% | -0.21% | | 0.50 ct | 0.25% | 0.68% | 10.90% | | 1.00 ct | 0.55% | 1.02% | 8.23% | | 3.00 ct | 1.22% | -0.20% | 8.14% |  | | 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 sales maintaining positive momentum despite end of traditional engagement season... |  |  | Belgium: Dealers optimistic as polished trading approaches pre-pandemic levels... | | |  | Israel: High rough prices restricting profit margins... | | |  | India: Manufacturing rates slowing among mid-tier and smaller cutting firms... | | |  | Hong Kong: Vaccine rollout fueling hopes of Chinese border reopening... | | |  | | | Let’s Talk About Conflict |  | | WITH Avi Krawitz | The Kimberley Process Civil Society Coalition has launched a campaign highlighting tens of thousands of people from diamond-mining communities who continue to live with conflict. The industry needs to understand their plight better and recognize there are still diamonds — and entities — that can tarnish the trade’s hard-won improved reputation. |  | | | Toward Gender Equality in a Post-Covid-19 World |  | | WITH Iris Van der Veken | The coronavirus has had a disproportionate impact on women. As we emerge from the pandemic, the jewelry industry has a role to play in rebuilding a fairer society. | | | | | WEEKLY NEWS | | industry | | | | Diamond Prices Stable as Market Finds Balance | | Industry optimistic in February amid solid jewelry sales in US and China. |  | | | India Blames High US Duties for Export Slump | | Erosion of preferential trade status has caused drop in gold-jewelry shipments since 2007, GJEPC argues. | | | | | Alrosa Lifts Production Forecast as Market Rallies | | Output will increase 5% in 2021, miner predicts. | | | | | Groups Urge Caution over Central African Republic | | World Diamond Council and Antwerp World Diamond Centre call for “enhanced due diligence” amid rebel activity. | | | | | Sarine Sees Profit Following Cost Cuts | | Deep reductions to expenses compensate for revenue slump in 2020. | | | | | IIJS Signature Show to Take Place in April | | Mumbai event will be first large trade fair for more than a year. | | | | | retail | | | | NRF: Vaccine Rollout to Boost US Retail in 2021 | | Sales will grow between 6.5% and 8.2% to more than $4.33 trillion, group says. | | | | | Hong Kong Retail Continues to Decline | | Sales of jewelry, watches, clocks and other valuable gifts drop 32% in January. | | | | | Kering Invests in Secondhand Luxury Site | | Company secures 5% stake in Vestiaire Collective as part of $216 million funding round. | | | | | mining | | | | Alrosa to Sell 242ct. Rough Diamond | | Miner rarely offers its large stones to the trade due to restrictions enshrined in Russian law. | | | | | Lulo Mine Yields Third Diamond over 100ct. This Year | | 114-carat, D-color stone follows string of high-value discoveries at Lucapa’s Angola site. | | | | | general | | | | Indian Trade Body Ties Up with eBay | | Gem & Jewellery Export Promotion Council says agreement will help boost online sales. | | | | | Beyoncé, Lorraine Schwartz Create GIA Scholarship | | Two Black jewelry professionals will receive full tuition for institute’s graduate-gemologist program. | | | | | Influencer Launches Jewelry Awards | | Tatyana Pfaifer will split $100,000 among seven winners. | | | | | Nirav Modi Extradition Draws Nearer | | London court says there’s enough evidence for tycoon to stand trial. | | | | | Sarine to Float Shares on Tel Aviv Stock Exchange | | Listing will broaden access to investors, company says. | | | | | US Manufacturing Body Elects New President | | Stuart Samuels succeeds Ronnie Vanderlinden at the Diamond Manufacturers & Importers Association of America. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | US stocks gained as investors bet on an economic boom resulting from the vaccine rollout and a new round of stimulus checks. Signet (+6%) and Macy’s (+4%) both rose. European and Hong Kong shares fared less well amid a rise in virus cases and continued lockdowns. Luk Fook (-6%), Pandora (-5%) and Chow Sang Sang (-1%) all fell. Mining had a mixed week, with Rio Tinto (-8%), Petra (-8%), Anglo American (-3%) and Lucara (-3%) losing ground, while Mountain Province (+7%), Gem Diamonds (+5%), Lucapa (+5%) and Alrosa (+4%) climbed. | | | | | 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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