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Rapaport TradeWire August 20, 2020
Aug 20, 2020 11:42 AM
By Rapaport
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| August 20, 2020 | | RAPAPORT MARKET COMMENT |  | | Polished market improving as governments ease Covid-19 restrictions. Dealers emphasizing digital trading. US and China driving demand for select categories. Uptrend in 0.30 to 0.89 ct. SIs. Suppliers staying firm on prices as dealers struggle to fill orders. Cutters consider increasing production as expectations rise for holiday season. Alrosa 2Q profit -98% to $3.6M. Tiffany extends traceability program to include where cutting, grading and setting took place. Gary Schuler replaces David Bennett as chairman of Sotheby’s jewelry. Rapaport A3 Diamond Specs changed to exclude faint fluorescence. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.70% | 3.83% | 5.97% | | 0.50 ct | 1.23% | 4.45% | 4.36% | | 1.00 ct | 0.60% | 2.27% | -4.20% | | 3.00 ct | -0.18% | 0.12% | -7.02% |  | | 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: Shortages supporting prices as dealers compete for goods to fill orders... |  |  | Belgium: Traders starting to return from holiday amid increasing demand from US and China... | | |  | Israel: Steady memo orders from US driving cautious optimism... | | |  | India: Rising demand for rough, with prices firming on the secondary market... | | |  | Hong Kong: Many stores closing, citing high rent and labor costs... | | |  | | | Special Auctions Set for September | ![]() | | WITH Rapaport Auctions | The Rapaport Group is aggressively moving forward with an important jewelry auction on September 14 to 16 (Monday to Wednesday). The deadline for submitting jewelry is Friday, September 4. Viewing will take place at Rapaport New York and online. To register and electronically submit jewelry for consideration, visit www.rapaport.com/jewelryauction. For personal service, please email auctions@rapaport.com or call +1-212-354-9800. Our September Single Stone diamond auction will be held on September 9 to 16, with viewing in New York on September 9 to 10 (Wednesday to Thursday) and viewing in Israel the following week. Rapaport members are strongly encouraged to participate in our auctions. We are providing liquidity to sellers and a great opportunity for buyers. |  | | | Changes to Rapaport Diamond Specifications | ![]() | | WITH Rapaport Price Research | The Rapaport A3 Diamond Specification will no longer include diamonds with faint fluorescence. Please note, the Rapaport Price List is based on the A3 standard. While we believe diamonds with fluorescence present great value and should be aggressively marketed by the trade, we are changing the specifications due to significant price differentials. Smart buyers would do well to trade Rapaport A4 Specification diamonds, which are triple Ex cut, have faint fluorescence and offer great value. | | | | | Rise in Grading Activity Signals Recovery |  | | WITH The Rapaport Diamond Podcast | In episode 31, Roland Lorie, CEO of the International Gemological Institute (IGI), assesses the state of the diamond and jewelry market along with other hot-button issues affecting the trade. |  | | | WEEKLY NEWS | | industry | | | | Tiffany to Share Full Provenance of Its Diamonds | | Retailer will disclose location of sorting, cutting, grading and setting, in addition to rough origin. |  | | | Alrosa Expects October Recovery | | Miner observes midstream shortages; profit down 98% in second quarter. | | | | | US Imports Drop – but at Slower Rate | | Polished shipments down 34% in June after heavier slumps in previous few months. | | | | | Diamonds Can Gain from Travel Industry Woes | | Consumers have extra disposable income they may reallocate to jewelry purchases, De Beers says. | | | | | retail | | | | US Retail Sales Increase in July | | Revenues rise for third consecutive month as economy reopens. | | | | | Appeals Court Backs Costco in $21M Tiffany Case | | Use of jeweler’s name to describe engagement-ring style did not confuse consumers, according to latest judgment. | | | | | Signet Requiring Customers to Wear Masks in Stores | | Decision follows collaboration with Cleveland Clinic regarding proper coronavirus protocols. | | | | | Pandora Expects Market Weakness to Persist | | Jeweler forecasts sales will fall 14% to 20% for 2020. | | | | | Shutdowns Send Michael Hill’s Profit Sliding | | Group earnings drop 81% to $2.3 million for full fiscal year ending June 30. | | | | | mining | | | | Alrosa Allows 100% Refusals at August Sale | | Continued flexibility will help cement industry’s recent improvements, miner says. | | | | | Mountain Province to Up Investor Sales Agreement | | Shareholder Dunebridge Worldwide to buy additional $50 million in smaller rough. | | | | | Lucapa Seals Deal to Defer Loan Repayments | | Company begins bulk sampling of ore from kimberlites that could be source of Lulo alluvial diamonds. | | | | | general | | | | Natural All-Diamond Ring Is a GIA First | | 13.15-carat piece came from grey rough stone of Canadian origin. | | | | | Sotheby’s Worldwide Jewelry Chairman Exits | | David Bennett retires from auction house following 42-year tenure. | | | | | World Diamond Congress Goes Virtual | | Two-day event will be especially important due to the pandemic, says WFDB president Yoram Dvash. | | | | | Jewelry Entrepreneur Nancy Brewer Dies | | Founder of jewelry-design company served on GIA board of governors for 10 years. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global retail stocks fell after the US Federal Reserve raised concerns about the country’s economic outlook amid the pandemic. Signet (-11%), Pandora (-11%), Macy’s (-8%) and Chow Sang Sang (-6%) all lost ground. Mining shares also suffered, with Lucapa (-11%), Alrosa (-5%) and Anglo American (-2.3%) declining. Mountain Province (+17%) gained after agreeing to sell a larger quantity of rough inventory to a shareholder. | | | | | 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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