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Rapaport TradeWire December 17, 2020
Dec 17, 2020 10:28 AM
By Rapaport
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| December 17, 2020 | | RAPAPORT MARKET COMMENT |  | | Positive sentiment in final week before Christmas as Covid-19 vaccine receives FDA approval. Holiday season successful for e-commerce businesses. Online sales now slowing as delivery deadlines approach. US Nov. retail sales -1.1% vs. previous month after boost from early holiday shopping in Oct. Chinese demand driving polished market ahead of Feb. 12 lunar festival. Dealers anticipate good inventory replenishment in 1Q. Rough market robust after prices increased 1% to 2% in select categories at De Beers sight. Premiums strong on secondary market. De Beers cuts 2021 production plan to 33M/35M cts. Belgium Nov. polished exports -9% to $612M, rough imports -14% to $702M. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.44% | -1.20% | 1.09% | | 0.50 ct | -0.28% | -1.83% | 12.17% | | 1.00 ct | 0.04% | 0.52% | 3.74% | | 3.00 ct | 0.03% | 1.92% | 1.46% |  | | 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: Dealers struggling to find the right goods to replace sold inventory... |  |  | Belgium: Solid consumer interest in diamonds and jewelry during holiday season as pandemic curtails spending on other discretionary items... | | |  | Israel: Suppliers have completed holiday orders and are waiting for sales feedback on memo items... | | |  | India: Manufacturers raising polished production in anticipation of post-holiday inventory replenishment... | | |  | Hong Kong: Wholesalers and dealers busy, with focus on meeting final supply needs for Chinese New Year season... | | |  | | | How E-Commerce Can Help You Crunch the Numbers |  | | WITH Jean Z. Poh | Covid-19 and the growth in online shopping have given jewelers a chance to gather important data about their customers. |  | | | WEEKLY NEWS | | industry | | | | De Beers Raises Prices at December Sight | | Adjustments reflect strong market for rough above 0.75 carats. |  | | | Emerald Ring Blows Away Estimate at Sotheby’s | | 21.86-carat piece from collection of Cecile Zilkha brings in $3.7 million. | | | | | Christie’s Rakes In $5M from Paris Sale | | 14.7-carat diamond ring exceeds expectations with final price above $500,000. | | | | | New Documentary to Highlight NY Diamond District | | CNBC show features key dealers, manufacturers and disruptors on 47th Street. | | | | | Grib Rough Prices Rise 5% | | Company sells 450,000 carats for $35 million at final tender of the year. | | | | | retail | | | | US Retail Sales Fall Amid Covid-19 Spike | | November figures down 1.1% from October. | | | | | Online Sales Accelerate in Pre-Holiday Rush | | Revenues rise 49% year on year in week following Cyber Monday. | | | | | mining | | | | De Beers Sales Increase Again | | December cycle clocks up revenues of $440 million. | | | | | Robust Rough Market Boosts Mountain Province | | Gahcho Kué mine yields its largest diamond to date. | | | | | Dominion’s Ekati Sale Receives Court Approval | | Miner expects to close the deal by February 1. | | | | | Lucapa Recovers 101ct. Rough from Mothae | | Lesotho deposit has produced four diamonds above 100 carats since operations began last year. | | | | | De Beers Trims Production Plan for Coming Years | | Company balances “prudence” with improving demand situation. | | | | | general | | | | Industry Group Honors Jewelry Security Expert | | JSA president John J. Kennedy to receive Jewelers Vigilance Committee award. | | | | | Phillips Brings In $28M at New York Watch Auction | | Rolex owned by actor Paul Newman fetches $5.5 million. | | | | | Belgium Trade Sees Third Consecutive Drop | | Polished exports down 9% in November as shipments to US fall. | | | | | New York-Based Indian Group Names Board | | Haridas Kotahwala to continue as president of IDCA. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Macy’s (-12%) headed the US retail declines after government data pointed to a slowdown in consumer spending in November. Hong Kong equities mostly had a negative week amid concerns about the coronavirus, with Chow Sang Sang (-3.5%) among those losing ground. In Europe, however, Richemont (+7.6%) and Swatch Group (+3.9%) rose following positive data about the watch market. | | | | | 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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