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Rapaport TradeWire October 21, 2021

Oct 21, 2021 11:01 AM   By Rapaport
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October 21, 2021
RAPAPORT MARKET COMMENT
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Jewelers optimistic for the holiday season. Polished demand outpacing supply, but inventory levels rising and buyers concerned about price increases. Approximately 1.7M stones valued at $7.5B on RapNet. Supplier prices firm due to high rough costs. Strong memo sell-through. De Beers sees robust rough demand at $490M Sep. sight; 3Q production +28% to 9.2M cts., sales volume +18% to 7.8M cts. Alrosa warns of rough shortages, says 10% price hike drove 3Q revenue +59% to $938M. India Sep. rough imports +24% to $1.7B. De Beers’ Lightbox to sell loose lab-grown stones to consumers. Chow Tai Fook testing synthetics brand. Rapaport Auctions sells $8,867,863 (80% by lot and 82% by value)

RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct
-0.26%
-1.86%
-5.74%
0.50 ct
-0.32%
-1.08%
-3.32%
1.00 ct
-0.08%
-0.46%
13.50%
3.00 ct
-0.10%
-0.25%
15.02%
RAPI Yearly Graph
Market Reports
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United States: Dealers struggling to find stock that can resell at a profit...
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Belgium: Growing worries about softening Far East market...
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Israel: Buyers starting to travel again, seeking diamonds in India and Hong Kong. ...
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India: High rough prices limiting manufacturing levels even with Diwali break approaching (beginning Nov. 4)...
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Hong Kong: Brisk trading ahead of fourth-quarter festivities and Chinese New Year...
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Ready for the Holidays
WITH THE RAPAPORT DIAMOND PODCAST

The editorial team chats with seasoned industry journalist Jennifer Heebner to reflect on the mood in the market after the recent US trade shows and ahead of the peak retail season.

Neutral ground
WITH LEAH MEIROVICH

In a world where the line between male and female is increasingly blurred, jewelry marketers must learn how to speak to a gender-fluid audience.

UPS AND DOWNS
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WEEKLY NEWS
retail
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De Beers’ Lightbox Debuts Sales of Loose Stones
Company aims to make its products more customizable.
Chow Tai Fook Tests Lab-Grown Brand
Cama launched recently on Tmall website, according to Chinese report.
Adobe Predicts Big Spike in Online Holiday Sales
E-commerce purchases in US will reach record $207 billion.
US Retail Sales Jump Amid Boost from Delta Variant
September stronger than August as shoppers spent on goods rather than services, NRF says.
Kering Boasts ‘Outstanding’ Jewelry Sales
Owner of Boucheron and Pomellato notes strong demand in Asia.
industry
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De Beers Sales Robust Ahead of Diwali, US Holidays
Miner sells $490 million in rough as Indian manufacturers prepare for November shutdown.
Diamond Deficit to Drive Prices, Alrosa Predicts
Jewelry sales could exceed $90 billion this year, miner says.
Sotheby’s Crypto Sale Less Than Dazzling
Only one of the eight lots on offer found a buyer.
HRD Antwerp Ends Partnership in Turkey, Dubai
Mehmet Can Özdemir had managed operations since 2014.
Rough Diamond Breaks Dubai Record with $5M Sale
118.58-carat stone is top item at Trans Atlantic tender.
mining
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Alrosa Rough Prices Hit Three-Year High
Index up 22% from 2020 due to supply shortages and robust demand.
De Beers Adjusts Production Outlook Again
Full-year output will be at lower end of previous plan, company estimates.
Lower Grades Dent Rio Tinto Production
Output from Diavik mine falls 17% in third quarter.
Letšeng Yields Two Diamonds over 100ct.
Gem Diamonds recovers high-quality rough stones weighing 245 and 102 carats at Lesotho mine.
Mountain Province Output Slips in Third Quarter
Production drops 13% year on year due to lower-grade material.
general
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74ct. Diamond to Headline Christie’s Hong Kong
Snowdrop necklace could fetch up to $7 million at Magnificent Jewels auction.
Smuggled Romanov Jewels Lead Sotheby’s Geneva
Brooch and ear clips carry high estimate of $500,000.
Lorraine Schwartz Designer Program Expands
Natural Diamond Council announces second round of participants and unveils jewels from first cycle.
US, Hong Kong Buoy Swiss Watch Exports
Shipments up 3.1% in September.
Hong Kong Trading Continues to Recover
Second-quarter polished imports jumped 68%.
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