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Rapaport TradeWire May 6, 2021
May 6, 2021 11:03 AM
By Rapaport
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| May 6, 2021 | | RAPAPORT MARKET COMMENT |  | | Diamond market activity slower due to spike in Covid-19 cases in India. Many small-scale Surat factories shut because of health concerns and lack of workers. Drop in polished production supporting prices. 1 ct. RAPI +2.5% in April. Cutters focused on larger, better-quality goods. Dealers struggling to replace inventory. Solid rough buying at De Beers sight as sightholders expect shortages; fewer goods on offer due to mining issues. US and China driving demand. Jewelers optimistic for Mother’s Day (May 9). Tiffany & Co. launches engagement rings for men. Pandora swaps natural for lab-grown diamonds, claiming move aligns with sustainability goals. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.07% | 0.01% | 6.49% | | 0.50 ct | 0.19% | -0.18% | 15.81% | | 1.00 ct | 0.14% | 2.38% | 17.84% | | 3.00 ct | -0.22% | 2.44% | 10.44% |  | | 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: Smaller businesses seeing specific demand and struggling to find the right goods... |  |  | Belgium: Europe slow as coronavirus cases remain relatively high... | | |  | Israel: Fancies below 1 ct. seeing uptrend... | | |  | India: Larger manufacturers maintaining high polished production while smaller businesses continue to shut down... | | |  | Hong Kong: Local retail improving as Covid-19 situation eases... | | |  | | | A Brave New World for the Diamond Trade |  | | WITH The Rapaport Research Report | Diamantaires and jewelers adapted quickly to the changes the coronavirus forced on them last year, but they face new challenges today. In the May edition of the Rapaport Research Report, we highlight five developments shaping the diamond market in 2021. These themes will likely continue to influence the industry in the long term. |  | | | Diamond Trends Webinar: A Sustained Recovery? |  | | WITH Avi Krawitz | In our quarterly webinar series, we’ll assess the state of the diamond market and the steps the industry must take to keep up the positive momentum. Rapaport Senior Analyst Avi Krawitz will present exclusive data and market intelligence to shed light on the current trading environment. |  | | | WEEKLY NEWS | | industry | | | | Diamond Prices Firm as India Supply Drops | | Robust recovery in US and China drive optimism. |  | | | De Beers Sight Sees Strong Demand, Low Supply | | Rough buying withstands India crisis as manufacturers anticipate shortages. | | | | | Fancy-Color Price Index Rebounds | | US demand supported market in first quarter, says FCRF. | | | | | Pandora Taps Lab-Grown, Drops Mined Diamonds | | Jeweler launching synthetics line in UK this month and globally in 2022. | | | | | retail | | | | Tiffany Debuts Men’s Engagement-Ring Line | | Retailer’s first collection will feature diamonds up to 5 carats. | | | | | Pandora Raises 2021 Outlook, Focuses on China | | Online sales and US stimulus package drive first-quarter growth. | | | | | Hong Kong Retail Sales Continue Resurgence | | Revenue from jewelry and other hard luxury up 81% in March. | | | | | Retail Sales Rebound at Berkshire Hathaway | | Owner of Borsheims, Helzberg and Ben Bridge sees positive first quarter. | | | | | Hong Kong Jeweler TSL Warns of Loss | | Company expects figure for full fiscal year to be approximately HKD 40 million ($5.2 million). | | | | | India’s Titan Sees Sales Recover | | Revenue rises 59% year on year in quarter ending March 31. | | | | | Losses Narrow for Online Gold Jeweler Mene | | Average order value for 2020 rose 63%. | | | | | mining | | | | Letšeng Mine Produces 254ct. Rough | | Gem Diamonds’ discovery of “high-quality” stone follows lull in output of noteworthy goods. | | | | | Greenland Ruby Unveils $18M Loan | | Credit facility will help accelerate growth plans. | | | | | general | | | | 5ct. Sapphire to Lead Bonhams NY Sale | | Ring is expected to fetch up to $480,000 at May 19 auction. | | | | | Phillips Expands Global Jewelry Team | | Sara Payne Thomeier and Cristel Tan take senior roles in Americas and southeast Asia, respectively. | | | | | Storied Marquise-Cut Diamond Up for Auction | | Stone from family of original “Gibson Girl” to go under hammer at Skinner sale on May 18. | | | | | GemGenève Announces 2021 Show Dates | | Event will take place from November 4 to 7, featuring lectures, roundtables, seminar and exhibitions. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | US retail stocks rose as some states announced plans to lift Covid-19 restrictions. Walmart (+2%), Macy’s (+2%) and Signet (+1%) gained. Meanwhile, Hong Kong retail shares slipped as sales remained well below pre-pandemic levels. Chow Sang Sang (-5%), Chow Tai Fook (-4%) and Luk Fook (-2%) all fell. Mining had a good week, with Gem Diamonds (+5%), Alrosa (+5%), Mountain Province (+4%), Lucara (+4%) and Rio Tinto (+3%) up. Petra (-6%) and Lucapa (-5%) were the exceptions. | | | | | Contact Us |  |       | | © Copyright 2021 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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