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Rapaport TradeWire September 10, 2020
Sep 10, 2020 11:16 AM
By Rapaport
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| September 10, 2020 | | RAPAPORT MARKET COMMENT |  | | Business improving ahead of holiday season. Retailers preparing inventories amid steady US and Far East demand for 0.30 to 2 ct. goods in all colors and clarities. Shortages supporting prices. Dealers struggling to fill orders due to low manufacturing and high shipping costs. Polished production rises to 60% of capacity as governments ease Covid-19 restrictions. Cutters’ profit margins up following De Beers and Alrosa price reductions. Belgium August polished exports +6% to $343M, rough imports -7% to $430M. Tiffany sues LVMH for pulling out of takeover deal. India-China border dispute raising concerns for Hong Kong trading. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.67% | 5.56% | 13.93% | | 0.50 ct | 1.24% | 7.10% | 14.67% | | 1.00 ct | 0.43% | 3.42% | 0.24% | | 3.00 ct | 0.26% | 2.30% | -4.42% |  | | 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: Retail improving ahead of holidays, with consumers gaining confidence to enter stores... |  |  | Belgium: Low availability of merchandise following months of reduced manufacturing and imports... | | |  | Israel: Traders struggling to fill orders at the prices they want... | | |  | India: Cutters looking to fill shortages and meet upcoming holiday demand... | | |  | Hong Kong: Concerns rising about impact of India-China rift and pro-democracy protests on local market... | | |  | | | The Rough Market’s Window of Opportunity |  | | WITH Avi Krawitz | The latest Rapaport Research Report looks at the price cuts that took effect in the rough-diamond sector last month. The move by De Beers and Alrosa surprised some, but made perfect sense given the trends in polished trading and the miners’ recent earnings reports. |  | | | How to Redesign Stores so Customers Feel Safe |  | | WITH Leah Meirovich | Consumers have been hesitant to shop for nonessential goods during the pandemic. Experts discuss some ways to make them more comfortable. |  | | | GIA on Covid-19, Automation and Synthetics |  | | WITH The Rapaport Diamond Podcast | Susan Jacques, CEO at the Gemological Institute of America, talks about the laboratory’s response to the pandemic, its approach to lab-grown diamonds, and the future of artificial intelligence in grading.
| | | | | WEEKLY NEWS | | industry | | | | Sotheby’s Nixes Reserve Price on 102ct. Diamond | | D-flawless stone will go to highest bidder, irrespective of what the auction house believes selling price should be. |  | | | Alrosa Sees First Sales Increase Since Feb. | | Revenue up 19% in August as miner reduces rough prices. | | | | | retail | | | | Tiffany Messed Up During Covid-19, LVMH Says | | Luxury giant countersues after $16 billion marriage turns sour. | | | | | Signet to Expand James Allen In-Store Format | | E-commerce brand will appear at 80 Jared locations for holiday season. | | | | | SK Jewellery Founders Want to Privatize Firm | | Management says delisting will give it greater control over the Singapore-based retailer. | | | | | mining | | | | Alrosa Aiming to Extract Higher-Value Rough | | Company trialing upgraded X-ray technology at Udachny mine. | | | | | Petra Faces Claims of Human-Rights Abuses | | UK law firm and NGO allege killings and violence at Williamson mine. | | | | | Lucapa to Sell Mothae Rough Privately | | Miner will partner directly with diamantaires in effort to achieve higher prices. | | | | | Gem Diamonds Incurs First-Half Loss | | Revenue slumps as coronavirus freezes rough market. | | | | | BlueRock Average Rough Price Rises | | July figure up 14% compared with previous month. | | | | | general | | | | Sotheby’s Unveils New Online Auction Series | | Move follows “unprecedented results” at recent digital sales, company says. | | | | | Gem Diamonds Continues Large-Stone Streak | | Miner recovers fourth rough over 100 carats in less than a month. | | | | | Belgium Exports Rise as Demand Returns | | Rough and polished markets pick up in August. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global retail shares lost ground after LVMH (-3%) backed out of its deal to acquire Tiffany & Co. (-7%) and as investors waited to see how the US elections and new coronavirus waves would affect spending. Walmart (-5%), Signet (-3%), Kering (-2%), Richemont (-1%) and Chow Sang Sang (-1%) all fell. Chow Tai Fook (+9%) and Macy’s (+7%) bucked the trend. Mining stocks had a positive week: Petra (+18%), Alrosa (+6%), Gem Diamonds (+2%) and Mountain Province (+1%) all rose. | | | | | 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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