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Rapaport TradeWire October 15, 2020
Oct 15, 2020 10:39 AM
By Rapaport
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| October 15, 2020 | | RAPAPORT MARKET COMMENT |  | | Rising expectations for US holiday season. Retailers beginning early promotions and planning for longer 4Q selling period to avoid overcrowding among last-minute shoppers. Shortages supporting polished prices after manufacturing down by estimated 50% in 2020. Large volume of new polished expected to become available before year’s end following strong 3Q rough buying. De Beers Sep. sales +57% to $467M, Alrosa +28% to $328M. GIA launches four digital synthetic-diamond reports specifying 4Cs and growth method. New CIBJO guidelines say lab-grown diamonds should get “product specifications” instead of grading reports in order to preserve rarity of natural diamonds. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.75% | 2.59% | 14.55% | | 0.50 ct | 0.02% | 5.23% | 19.78% | | 1.00 ct | 0.38% | 1.86% | 2.86% | | 3.00 ct | -0.05% | 0.54% | -4.11% |  | | 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: Steady memo calls as retailers limit owned inventory in the Covid-19 economy... |  |  | Belgium: Good European demand as limited travel prompts dealers to focus on the local market... | | |  | Israel: Shortages supporting prices for certain categories, but large volume of goods expected to become available as production levels rise... | | |  | India: Polishing factories operating at around 70% capacity as manufacturers prepare for rise in holiday orders... | | |  | Hong Kong: Slow retail sales during important Golden Week shopping period due to slump in tourism and weak consumer sentiment... | | |  | | | Diamond Trends Webinar: A Holiday Season Like No Other |  | | WITH Avi Krawitz | In our quarterly webinar series, we will assess the state of the diamond market at the start of the all-important fourth-quarter holiday season, and outline the trade’s strengths, weaknesses, opportunities and threats. The webinar will take place on Wednesday, October 21, 2020, at 10 a.m. EST. |  | | | The Importance of Being Tiffany |  | | WITH Rapaport Research Report | The October issue of the Rapaport Research Report outlines why the legal battle between Tiffany & Co. and LVMH over their failed acquisition deal has ramifications for the diamond and jewelry industry. |  | | | WEEKLY NEWS | | industry | | | | Alrosa Cancels October Rough Sale | | Miner seeks to avoid releasing too many goods amid fragile market recovery. |  | | | ‘Grading’ Is Just for Natural Diamonds, Says CIBJO | | Reports on synthetic stones should be called “product specifications” instead, World Jewellery Confederation insists. | | | | | Sotheby’s Expects Pink to Fetch Up to $38M | | The diamond, named Spirit of the Rose, comes from Alrosa’s Ebelyakh mine in Yakutia. | | | | | GIA Unveils New Lab-Grown Reports | | Documents are digital-only format and include specific color and clarity grades. | | | | | Pandemic Boosting Demand for Secondhand Luxury | | Market for pre-owned watches and jewelry growing 8% per year, according to Boston Consulting Group. | | | | | retail | | | | Tiffany Encouraged by 3Q Momentum | | Strong growth in China and e-commerce sales driving recovery. | | | | | How a Client Advisory Board Can Help Your Store | | Bringing your best customers and brand advocates into the decision-making process can give you an edge in serving your target market, say jewelry experts. | | | | | Pandora Raises Full-Year Forecast | | Jump in online sales and reopening of stores lead to improved revenue. | | | | | Tse Sui Luen Expects Loss Amid Tourist Slowdown | | Pandemic hits Hong Kong-based jeweler’s sales in fiscal half ending September 30. | | | | | Michael Hill Sees Rise in Same-Store Sales | | Increased online purchasing and desire for branded pieces buoy revenue. | | | | | mining | | | | De Beers September Sales Soar 57% | | Miner records highest total since January as manufacturers seek goods for holidays. | | | | | Alrosa Sees Continued Improvement in Sales | | Revenue up 30% year on year in September as manufacturers return to buying. | | | | | Star Diamond Considers Nixing Deal with Rio Tinto | | Company believes Australian miner is breaking large diamonds during removal process. | | | | | Dominion’s Ekati Sale Falls Through | | Insurers failed to reach agreement with buyer of mine in Canada. | | | | | general | | | | US Diamond Trade Declines in August | | Polished imports slide 39%; exports fall 37%. | | | | | Bonhams Appoints New Chairman | | Hans-Kristian Hoejsgaard will take over from Bruno Vinciguerra, who has become global CEO. | | | | | Diamond Wholesaler Ralph Vantyghem Dies | | He and his wife founded Canada’s Vantyghem Diamonds in 1973. | | | | | Hong Kong Show Cancellation Hits Belgium Trade | | Polished exports down 40% in September as recovery stalls. | | | | | Jewelers for Children Unveils Annual Donations | | Organization to distribute $475,000 this year, bringing running total to $57.3 million since 1999. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global retail stocks took a tumble amid uncertainty over whether the US government would approve a new stimulus package. Swatch Group (-7%), Chow Tai Fook (-4%), Chow Sang Sang (-4%) and Richemont (-4%) all fell. However, US retail rose as investors prepared for strong holiday sales, with Signet (+10%), Macy’s (+3%), Walmart (+2%) and Tiffany (+1%) all gaining. Mining shares were mixed: Mountain Province (-11%) and Lucara (-5%) fell, while Lucapa (+3%) and Gem Diamonds (+3%) climbed. | | | | | 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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