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Rapaport TradeWire November 19, 2020
Nov 19, 2020 10:44 AM
By Rapaport
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| November 19, 2020 | | RAPAPORT MARKET COMMENT |  | | Rising expectations for holiday season despite surge in Covid-19. US retail sales +5.7% in Oct. Digital driving growth in US and China: Walmart 3Q e-commerce +79% and Alibaba’s 11/11 Singles’ Day sales +26% to record $74B. Polished trading slow as Indian suppliers take Diwali vacation. Jewelers making final holiday orders. Steady demand for 1 to 2 ct., G-H, VS-SI goods in bridal category. Positive momentum continues in rough market. De Beers Nov. sales at $450M. Petra Diamonds FY revenue -36% to $296M, net loss of $223M. Alrosa cuts 2021 production plan to 30M cts. after reporting 30.6M cts. in inventory. Belgium Oct. polished exports -6% to $629M, rough imports +65% to $873M. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.48% | -2.33% | 7.23% | | 0.50 ct | -0.31% | -1.67% | 15.60% | | 1.00 ct | 0.20% | 0.20% | 2.86% | | 3.00 ct | 0.22% | 3.49% | -0.34% |  | | 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: Dealers busy working to meet last-minute holiday demand and struggling to replace sold inventory... |  |  | Belgium: More rough coming to market after sizable De Beers and Alrosa sales, fueling hope that traders can fill shortages in certain categories... | | |  | Israel: Sentiment weak across the trade amid significant downsizing due to Covid-19... | | |  | India: Manufacturers taking shorter break to catch up on production time lost during lockdown... | | |  | Hong Kong: Mainland jewelers doing well and feeling optimistic for the season... | | |  | | | The Young Diamantaires |  | | WITH The Rapaport Diamond Podcast | How does the next generation of diamond professionals view the industry? Rapaport senior news reporter Joshua Freedman finds out by interviewing two active members of the Young Diamantaires group. |  | | | Best of both worlds |  | | WITH Jewelry Connoisseur by Rapaport | Jeweler Rhett Outten talks about the benefits of selling estate pieces and modern ones in the same store. |  | | | WEEKLY NEWS | | retail | | | | Luxury Sales Won’t Recover for Two Years – Bain | | Category will contract in 2020 for first time since 2009, group says. |  | | | Early Holiday Shopping Boosts US Retail Sales | | October purchasing up 6% year on year, US Census Bureau says. | | | | | Hong Kong’s Tse Sui Luen Suffers Heavy Losses | | Tourism slowdown and US-China tensions hit sales in six months ending September 30. | | | | | Berkshire Hathaway Sales Rise as Stores Reopen | | Third-quarter retail revenue up 4% at owner of Borsheims, Helzberg and Ben Bridge. | | | | | Frederick Goldman Hires Head for Independents | | Lauren Calmas will help grow company’s newly created B2B segment for small e-commerce sellers. | | | | | Angola State Diamond Trader Opens Jewelry Store | | Partnership with KGK is latest move to promote local industry. | | | | | industry | | | | De Beers Reshuffles Branding, Corporate Units | | Company combines London-based divisions into new team focused on social purpose. | | | | | Fancy-Color Index Sees Decline in 2020 | | Prices slip 0.7% in first nine months of year, says Fancy Color Research Foundation. | | | | | Court Allows Rio Tinto to Sell Dominion’s Diamonds | | Proceeds would help pay off more than $91.4 million owed to Diavik joint venture. | | | | | mining | | | | De Beers Sees Third Consecutive Sales Increase | | November proceeds up 13% year on year at $450 million. | | | | | Petra in the Red as Mines Lose Value | | Company incurs heavy impairment charge amid drop in rough prices. | | | | | Dominion Nears Deal to Restart Ekati | | Miner to recall furloughed workers as lenders indicate a debt restructuring is close. | | | | | general | | | | Sotheby’s to Auction De Beers Jewels for Charity | | Model Indira Scott will be face of ReSet Collective campaign, which highlights positive impact of natural diamonds. | | | | | Large Sapphires to Lead Christie’s New York | | Bracelet with 43.10-carat stone expected to fetch up to $7 million. | | | | | Belgium Polished Trade Slips in October | | Exports down 6% as shipments to Hong Kong and France fall. | | | | | Pink Diamond Ring Beats Estimate at Bonhams | | Piece fetches $1.1 million at London auction. | | | | | Dubai Trade Body Opens Shenzhen Office | | Closer ties between UAE and China will benefit diamond sector, says DMCC. | | | | | De Beers Exec Jonathan Kendall to Retire | | Head of grading unit was key individual in miner’s downstream business. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global retail stocks rose amid hopes a Covid-19 vaccine would boost the economy. Macy’s (+21%), Chow Sang Sang (+9%), Signet (+7%), Swatch Group (+3%) and Chow Tai Fook (+3%) all gained. Mining shares had a mostly positive week, with Gem Diamonds (+18%), Alrosa (+13%) and Lucara (+2%) climbing, while Lucapa (-4%) and Petra (-1%) slipped. | | | | | 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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