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Rapaport TradeWire April 8, 2021
Apr 8, 2021 10:44 AM
By Rapaport
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| April 8, 2021 | | RAPAPORT MARKET COMMENT |  | | Polished trading slower after robust 1Q. Concerns about high Covid-19 infections in Europe and India. Bharat Diamond Bourse sharply restricts activity. Surat manufacturing and exports continue. US jewelers optimistic as consumer confidence grows in March. Vaccine rollout and $1,400 stimulus checks fueling retail spending. Rough market cooling. Cutters anticipate rise in polished inventory as GIA releases backlog. De Beers sells $440M of rough in Mar./Apr. vs. zero last year. Lucara extends exclusive large-stone rough supply deal with HB Antwerp for two years. Signet acquires jewelry rental company Rocksbox. Israel 1Q polished exports +12% to $828M. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.10% | -1.58% | 4.82% | | 0.50 ct | 0.08% | -1.33% | 15.37% | | 1.00 ct | 0.36% | 0.96% | 16.03% | | 3.00 ct | 0.36% | 0.13% | 2.88% |  | | 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: Retail jewelers optimistic with good bridal sales ahead of summer wedding months... |  |  | Belgium: Dealers hoping US and Chinese buyers will turn to Antwerp instead of India during Mumbai lockdown... | | |  | Israel: Suppliers starting to travel again to reconnect in person with buyers after successful vaccination drive... | | |  | India: Manufacturers refocusing on natural diamonds after drop in lab-grown prices... | | |  | Hong Kong: Some confidence that border with mainland will reopen, lifting major barrier to trade... | | |  | | | WEEKLY NEWS | | industry | | | | Diamond Trade Upbeat Ahead of 2Q Slowdown | | US and Chinese demand support buying activity in March. |  | | | Mumbai Bourse to Shut Amid Covid-19 Spike | | State government imposes lockdown after infections soar. | | | | | Mumbai Diamond Services Get Approval to Continue | | Restrictions in Maharashtra state exclude grading and other support activities. | | | | | First Nation Group at Loggerheads with De Beers | | Body of Indigenous people in Canada opposes company building new landfill on Victor mine site. | | | | | ‘Peculiar’ Coloring Helps GIA Spot Treatment | | Green-yellow diamond was originally brown, researchers posit. | | | | | Covid-19 Upsets Plans for India, Hong Kong Shows | | Rising cases and continued restrictions force latest postponements. | | | | | US Proposes Tariffs on Select Indian Jewelry | | Washington, DC, threatens duties of up to 25% in response to e-commerce tax. | | | | | retail | | | | Signet Acquires Jewelry Rental Subscription Site | | Rocksbox will help company expand its services business, management says. | | | | | Hong Kong Retail Sales Bounce Back | | Business environment still difficult, government cautions. | | | | | Titan Jewelry Sales Continue Recovery | | Revenue at Indian retailer up 70% for three months ending March 31. | | | | | Apparel Group Buys Lifestyle Brand for $3.6M | | Clothing and jewelry label Logo, founded by Lori Goldstein, sells to Xcel. | | | | | Malabar Gold & Diamonds Opens 56 New Stores | | India-based chain will spend $220 million on expansion over next two years. | | | | | mining | | | | De Beers Rough Sales Stabilize | | March cycle grosses $440 million, but company warns of Covid-19 impact. | | | | | Lucara Extends Large-Stone Supply Agreement | | Miner will continue to sell all rough over 10.8 carats to manufacturer HB Antwerp for two years. | | | | | Petra’s Cullinan Mine Yields 39ct. Blue | | Stone has “exceptional” color and clarity, company says. | | | | | Alrosa Appoints New Head of Mining Division | | Sergey Pavlenko will lead the Udachny unit, succeeding Roman Deniskin. | | | | | Lulo Mine Turns Out Sixth Large Stone This Year | | Lucapa recovers 144-carat, D-color, type IIa diamond from Angola deposit. | | | | | general | | | | Jewelers of America Unveils CASE Award Winners | | Group hands out prizes to designers in 14 categories. | | | | | Israel’s Rebound Continues as Exports Grow | | Polished shipments out of the country rise 12% in first quarter. | | | | | Jewelers Board of Trade Reelects Chairman | | Ann Arnold of Buyers Intelligence Group will serve a second term. | | | | | Larger Rough in Demand at Trans Atlantic Sale | | March tender grosses $60 million amid strong market for 0.75-carat goods and above. | | | | | Jewelers of America Takes GEM Awards Online | | Organization’s third National Convention will also be digital. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Retail stocks rose as the American economy reopened and consumers began spending again. A decline in US unemployment and President Joe Biden’s new stimulus plan also bolstered share prices. Pandora (+6%), Chow Sang Sang (+5%), Chow Tai Fook (+5%), LVMH (+3%), Walmart (+3%) and Richemont (+3%) gained. Miners had a positive week, with Petra (+8%), Gem Diamonds (+8%), Anglo American (+7%) and Rio Tinto (+4%) all climbing. | | | | | 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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