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Rapaport TradeWire September 23, 2021

Sep 23, 2021 8:02 AM   By Rapaport
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September 23, 2021
RAPAPORT MARKET COMMENT
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Trading quiet during Jewish and Indian festivals. China slowdown injects caution into the market. US retail upbeat. Nov.-Dec. holiday jewelry sales expected to climb 59% vs. 2020 figures and +53% vs. 2019, says MasterCard SpendingPulse. Rough market steady. Alrosa Aug. sales +41% to $306M. Polished inventory levels increasing ahead of Nov. 4 Diwali break. Six-week backlog at GIA Mumbai lab. Investment firm Compass Diversified acquires Lugano Diamonds & Jewelry for $256M. World Diamond Council launches upgraded system of warranties. Responsible Jewellery Council to develop standard for lab-grown materials. Rapaport offices will be closed Sep. 27-28 for the Jewish holidays.

RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct
-0.65%
-1.72%
-2.28%
0.50 ct
-0.47%
-1.06%
2.09%
1.00 ct
-0.17%
-0.57%
15.91%
3.00 ct
-0.14%
0.25%
15.64%
RAPI Yearly Graph
India’s Entrepreneurial Spirit
WITH MARTIN RAPAPORT

Colin Shah, chairman of the Gem & Jewellery Export Promotion Council (GJEPC), talks about the country’s diamond and jewelry markets with Martin Rapaport

America Driving Industry Confidence
WITH AVI KRAWITZ

The recent shows in Las Vegas signaled a robust US market, fueling optimism for the upcoming holiday season. The industry has to make the most of this moment, stresses Rapaport Senior Analyst Avi Krawitz in his latest “Field Notes” column.

From Tech Mogul to Lab-Grown Advocate
WITH THE RAPAPORT DIAMOND PODCAST

Synthetic-diamond producer Lusix is working to expand its capacity with a new factory in central Israel. In episode 48 of the Rapaport Diamond Podcast, News Editor Joshua Freedman speaks with founder and tech entrepreneur Benny Landa about the company’s plans.

UPS AND DOWNS
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WEEKLY NEWS
industry
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World Diamond Council Launches New Guidelines
Updated System of Warranties includes a commitment to human and labor rights.
RJC to Develop Lab-Grown Standards
Rules will require full disclosure of synthetics in jewelry products.
Kimberley Process to Hold Hybrid Plenary Meeting
Physical event to take place in Moscow for those able to attend.
GIA Spots ‘Precise’ Attempt at Lab-Grown Fraud
Round brilliant, 3.07-carat CVD had counterfeit inscription.
retail
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Investment Firm Buys Lugano Diamonds for $256M
Compass Diversified believes jeweler is capable of generating “significant revenues” in both short and long term.
US Retail Sales Get Unexpected Boost in August
Figure up 0.7% from July, National Retail Federation says.
US Holiday Jewelry Sales to Surge – Mastercard
Revenue for November-to-December period will rise 59% year on year, according to projections.
mining
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Alrosa Makes Inroads into Carbon Storage
Company has completed first phase of a study on ways to compensate for greenhouse gas emissions during diamond mining.
Petra Earnings Rise Following Big-Stone Sales
Revenue up 65% in fiscal year ending June 30.
general
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Belgian Lab Detects Diamond with Fake Inscription
1.50-carat stone was submitted as natural, untreated specimen, but HRD Antwerp discovered it had undergone HPHT color treatment.
New Ana de Armas Diamond Ad Drops
Campaign is organization’s second featuring James Bond actress.
Indian Police Bust Counterfeit Diamond Scam
Treated and lab-grown diamonds bore fraudulent GIA inscriptions for higher-quality stones.
Men Sentenced for Fencing Millions in Diamonds
The five sold goods from Colombian gangs that would attack traveling jewelry salespeople.
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