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Rapaport TradeWire June 25, 2020
Jun 25, 2020 10:32 AM
By Rapaport
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| June 25, 2020 | | RAPAPORT MARKET COMMENT |  | | Market uncertainty continues as Covid-19 cases rise again. Polished trading limited, but increase in online searches indicates efforts to fill specific orders. Major jewelers investing in e-commerce to stimulate multichannel sales and ease inventory requirements. Chow Tai Fook sees recovery in mainland China and plans 2020 expansion in lower-tier cities. Manufacturers operating at reduced capacity and facing liquidity strain at current demand levels. Rough easier to source at tenders than contract sales as De Beers and Alrosa maintain higher prices. Sotheby’s Geneva auction totals $13M, with marquise, 7 ct., fancy-intense-pink diamond ring selling for $2.8M ($405,714/ct.). | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.22% | -1.76% | -3.85% | | 0.50 ct | 0.52% | 0.14% | -7.18% | | 1.00 ct | 0.81% | 2.28% | -9.11% | | 3.00 ct | -0.46% | -3.51% | -11.58% |  | | 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: Jewelers require melee for bridal collections and note rising interest in lower-priced engagement rings... |  |  | Belgium: Deep concern over economic impact of coronavirus, with reports of more than 1,000 industry jobs lost in Antwerp... | | |  | Israel: Buyers very selective and filling orders rather than purchasing for inventory... | | |  | India: Businesses lobbying government to allow extended period for loan repayments... | | |  | Hong Kong: Trading slowly picking up as China retail continues to improve... | | |  | | | Where Do We Go from Here? |  | | WITH Avi Krawitz | The June Rapaport Research Report presents the diamond industry’s potential for recovery from the viewpoint of five executives operating in different sectors of the supply chain. |  | | | Eira Thomas Confident Lucara Can Navigate Crisis |  | | WITH The Rapaport Diamond Podcast | In the fourth episode of Rapaport’s Recovery Webinar Series, Eira Thomas, CEO of Lucara Diamond Corp., says she believes her company has the balance sheet, sales platform and product mix to help it through the slowdown. |  | | | Filling the Generation Gap |  | | WITH Deborah Yonick | Teens are looking for ways to mark milestones now that proms, graduations and other seminal events have been canceled. Jewelers should be stepping up to meet that demand. | | | | | WEEKLY NEWS | | industry | | | | No Buyer for 3ct. Blue Diamond at Sotheby’s | | Ring carried high estimate of $6.3 million at Geneva Magnificent Jewels and Noble Jewels sale. |  | | | Hong Kong August Shows Canceled | | Quarantine rules have made the fairs inaccessible to overseas participants. | | | | | Covid-19 Obliterates US Polished Shipments | | April imports plummet 94% to lowest level on record. | | | | | Angola Plans $77M Diamond Center | | New hub will house cutting factories and a training facility. | | | | | retail | | | | TSL Sees Loss in Tough Year for Hong Kong | | Trade war, protests and coronavirus hit jeweler’s business. | | | | | Signet Brings In Chief Digital Officer | | Rebecca Wooters was previously an executive at Citi’s Global Consumer Bank. | | | | | mining | | | | Virus Cases Force Shutdown at Alrosa Mine | | International underground deposit to close for up to two weeks. | | | | | Mountain Province Cuts 2020 Production Forecast | | Miner adjusts output to between 6.3 million and 6.4 million carats due to coronavirus. | | | | | Letšeng Yields 163ct. Yellow | | Stone is third over 100 carats Gem Diamonds has recovered this year. | | | | | BlueRock Counts Cost of Coronavirus | | Miner estimates $690,000 impact as sales fall and expenses rise. | | | | | general | | | | India Trade Slumps Amid Global Shutdown | | Polished exports dive 79% year on year in May. | | | | | How One Diamantaire Is Picking Up the Pieces | | Israel-based Atzmon Breitbart comes clean on why he’s riding out the Covid-19 crisis behind the wheel of a garbage truck. | | | | | Plumb Club Adds to Its Leadership Teams | | Group elects Kristie Nicolosi as a director and Corinna Bhasin as secretary. | | | | | Decline in Swiss Watch Exports Continues | | Shipments fall 68% to $688.4 million in May. | | | | | Slowdown in Belgian Shipments Eases | | May and June still show sharp drop in trading, but not as steep as April. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Retail stocks lost steam amid renewed fears that a surge in coronavirus cases could halt the reopening of the US economy. Signet (-12%), Kering (-7%), Macy’s (-6%), and Pandora (-3%) all declined. Miners also saw a rough patch, as shares in Petra (-12%), Lucapa (-7%) and Mountain Province (-6%) slipped. Gem Diamonds (+10%) rose after reporting solid demand at its June tender. | | | | | 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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