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Rapaport TradeWire December 24, 2020
Dec 24, 2020 11:12 AM
By Rapaport
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| December 24, 2020 | | RAPAPORT MARKET COMMENT |  | | Mood optimistic as US and European dealers close for holidays. E-commerce surges; US online sales +30% on Super Saturday and +56% on Sunday before Christmas. Brick-and-mortar quiet due to spread of Covid-19. Chinese jewelers expecting release of pent-up demand during Feb. 12 Lunar New Year. Manufacturers raising polished production in anticipation of post-holiday inventory replacement. Rough trading robust. Large volumes of polished expected on the market in 1Q. Argyle pinks sell for record value following mine closure. GIA scales down Antwerp business. CNBC special to feature NY diamond trade on Tuesday, Dec. 29 at 10 p.m. EST. Rapaport wishes everyone happy holidays. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 1.01% | 0.32% | 1.58% | | 0.50 ct | -0.38% | -1.77% | 11.03% | | 1.00 ct | 0.10% | 0.39% | 3.74% | | 3.00 ct | -0.19% | 0.79% | 1.92% |  | | 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: Retailers with strong online presence saw good holiday sales and expect e-commerce trend to continue in 2021... |  |  | Belgium: Very little trading; bourses officially shut for holidays... | | |  | Israel: Buyers bargain-hunting and focusing more on non-certified goods... | | |  | India: Local market maintaining momentum during wedding season... | | |  | Hong Kong: Last-minute orders for Chinese New Year (Feb. 12) driving business... | | |  | | | The Year That Changed the Diamond Market |  | | WITH The Rapaport Diamond Podcast | In our final episode of 2020, Rapaport Publisher John Costello sits down with the news team to look back at the stories and trends that shaped our industry during a tumultuous year. |  | | | NY Diamond District in the Spotlight |  | | WITH Rapaport News | Marcus Lemonis, the self-proclaimed “champion of entrepreneurs,” sets out on a mission to “crack the code of the notoriously secretive” diamond industry as part of CNBC’s Streets of Dreams docuseries. The first episode, featuring New York’s 47th Street, airs this Tuesday, December 29, at 10 p.m. EST. |  | | | WEEKLY NEWS | | industry | | | | Mumbai Bourse to Vote on Lifting Synthetics Ban | | Exchange’s board recommends allowing lab-grown trading under strict guidelines. |  | | | GIA to Cut Back Antwerp Business | | Laboratory will operate with reduced staff from January. | | | | | Argyle Pinks Break Records After Mine Closure | | 2.24-carat stone is most valuable fancy-vivid diamond in tender’s 37-year history. | | | | | Nirav Modi’s Brother Indicted in Diamond Fraud | | Indian dealer allegedly swindled New York-based LLD Diamonds out of more than $1 million. | | | | | RJC to Set Out 10-Year Sustainability Plan | | “Roadmap to 2030 and Beyond” will focus on alignment with UN development goals. | | | | | Engagement-Ring Budgets Stable During Pandemic | | Covid-19 has altered how proposers buy jewelry, rather than how much they spend, according to The Knot. | | | | | How Women Jewelers Are Creating a Legacy | | In a largely male-dominated industry, female role models can help empower the next generation by sharing knowledge and support. | | | | | retail | | | | Online Sales Surge on Super Saturday | | Revenues rise 30% year on year as consumers stay home, Adobe Analytics reports. | | | | | Covid-19 Resurgence Hits Consumer Confidence | | Americans’ assessment of business and labor conditions weakens in December, according to Conference Board. | | | | | Jewelry Leads China’s Luxury Growth | | Strong consumer sentiment and decline in overseas travel have boosted domestic spending, Bain & Company says. | | | | | mining | | | | Lucapa in Talks to Buy Merlin Diamond Mine | | Australian deposit up for grabs following previous owner’s liquidation. | | | | | BlueRock Raises Resource Estimate | | Drilling at Kareevlei reveals 52% increase in carats, extending mine’s life span to at least 10 years. | | | | | general | | | | Stargems Rough Sale Sets Dubai Record | | Prices of larger goods rise at $87.5 million tender. | | | | | China Rebound Boosts Swiss Watch Exports | | Shipments to key Asian market soar 70% in November. | | | | | Tender Houses Line Up to Launch Angola Sales | | Koin, Bonas and Trans Atlantic among companies interested in opening inside new diamond exchange. | | | | | US Polished Imports Down as Average Price Falls | | October marks 19th consecutive month of decline. | | | | | Manufacturing Trade Group Selects New Board | | Joseph Esposito will take over as chair of MJSA. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | US retail stocks rose following the announcement of a second government stimulus package and the rollout of a Covid-19 vaccine. Macy’s (+8%) and Signet (+1%) both increased. Meanwhile, European stocks slipped after countries imposed further restrictions due to rising coronavirus cases, with Kering (-3%), Richemont (-3%) and LVMH (-2%) all down. Mountain Province (+36%) jumped after recovering its largest diamond to date, while other mining shares faltered. Petra (-9%), Anglo American (-3%), Gem Diamonds (-2%) and Lucara (-2%) all lost ground. | | | | | 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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