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Rapaport TradeWire November 4, 2021

Nov 4, 2021 12:07 PM   By Rapaport
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November 4, 2021
RAPAPORT MARKET COMMENT
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Diamond industry confident for holiday season. US trade upbeat amid steady retail orders. Indian suppliers take Diwali vacation. Dealers focusing on sales; buying has become difficult due to expensive rough and increased competition from large manufacturers selling direct to retailers. Polished prices stabilizing as buyers complete holiday orders. 1 ct. RAPI -0.2% in Oct. US polished imports +118% to $1.8B, exports +64% to $1.2B. Consolidation continues as JBT reports number of jewelry businesses down 2% to 23,984 in 3Q. Rough market stable ahead of next week’s De Beers sight. Letšeng 3Q average price -28% to $1,589/ct. The Rapaport Group wishes all our friends a happy Diwali.

RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct
0.00%
-0.81%
-4.49%
0.50 ct
-0.17%
-0.80%
-2.36%
1.00 ct
-0.01%
-0.34%
13.56%
3.00 ct
0.38%
0.63%
13.74%
RAPI Yearly Graph
Market Reports
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United States: Suppliers with large inventory offering higher discounts to cash buyers...
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Belgium: High end robust ahead of GemGenève show and Geneva auctions...
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Israel: Dealers struggling to find the right goods at reasonable prices...
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India: Market closes for two-to-three weeks due to Diwali...
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Hong Kong: Good market for fancy shapes, especially in higher clarities...
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The Future Is Sustainable
WITH THE RAPAPORT DIAMOND PODCAST

In episode 50, guest Esther Oberbeck, head of analytics at De Beers, discusses the key findings from the company’s recent Insight Report. Avi Krawitz speaks with the executive about sustainability and what it means for the industry moving forward.

UPS AND DOWNS
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WEEKLY NEWS
industry
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US Holiday Cheer Supporting Diamond Prices
Polished demand outpacing supply amid strong US market.
Lightbox Now Declaring Post-Growth Treatments
Stones in new premium line have received HPHT color upgrades.
Synthetics Trade Body Relaunches
International Grown Diamond Association aims to attract sector’s newcomers.
retail
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Graff Hit by Ransomware Attack
Criminals stole files related to celebrity clients, according to UK newspaper.
De Beers Says ‘I Do’ to New Marketing Campaign
Advertising push focuses on diverse types of commitment.
Number of US Jewelry Businesses Decreases
Sector shrinks almost 2% year on year in third quarter.
Pandora Lifts Full-Year Forecast Again
Danish jeweler now expects growth of up to 20%.
Government Stimulus Spurs Hong Kong Retail
Sales of jewelry and other hard luxury up 16% in September.
Watchmaker Breitling Eyes Stock-Exchange Listing
Partners Group buys minority stake in Swiss brand.
mining
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Large Stones Boost Lucara Revenue
Sales jumped 76% in third quarter amid strong production of rough weighing 10.8 carats or more.
Former De Beers Executive to Lead Firestone
Rob De Pretto will succeed Paul Bosma in the role.
Diamond Miner Opens Paris Fancy-Color Boutique
Burgundy has already acquired a pink from Rio Tinto’s Argyle site and several yellows from Ekati.
Letšeng Sales Slip Amid Lack of Expensive Stones
Gem Diamonds revenue down 22% in third quarter.
general
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Joséphine Bonaparte Tiaras Hit Sotheby’s Auction
Two royal headpieces have spent last 150 years in a private collection.
US Polished Imports Rise for Sixth Month in a Row
Shipments more than doubled in August.
Large Diamonds Lead Skinner Sale
Ring bearing emerald-cut, 10.90-carat stone is estimated at up to $250,000.
India Diamond Trade Sees Stabilizing Trend
Polished exports grew 22% in September.
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