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Rapaport TradeWire March 4, 2021

Mar 4, 2021 11:30 AM   By Rapaport
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Rapaport TradeWire
March 4, 2021
RAPAPORT MARKET COMMENT
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Market sentiment upbeat. Steady trading levels supported by US demand and gradual return of Chinese buyers. Retailers optimistic amid expectations that Covid-19 vaccine rollout and $1.9 trillion stimulus will boost economy. E-commerce still driving growth. Polished prices stable; 1 ct. RAPI +0.8% in Feb. Manufacturers concerned about tightening profit margins following rough-price hikes in last three months. Alrosa 4Q revenue +55% to $1.3B, profit +82% to $288M. Sarine 2020 revenue -20% to $41M. De Beers piloting project to track value by monitoring sightholders’ use of supply. Stuart Samuels elected president of Diamond Manufacturers & Importers Association of America. 

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RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct 0.14% 1.12% -0.21%
0.50 ct 0.25% 0.68% 10.90%
1.00 ct 0.55% 1.02% 8.23%
3.00 ct 1.22% -0.20% 8.14%
RAPI Yearly Graph
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Market Reports
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United States: Bridal sales maintaining positive momentum despite end of traditional engagement season...
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Belgium: Dealers optimistic as polished trading approaches pre-pandemic levels...
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Israel: High rough prices restricting profit margins...
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India: Manufacturing rates slowing among mid-tier and smaller cutting firms...
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Hong Kong: Vaccine rollout fueling hopes of Chinese border reopening...
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Let’s Talk About Conflict
WITH Avi Krawitz

The Kimberley Process Civil Society Coalition has launched a campaign highlighting tens of thousands of people from diamond-mining communities who continue to live with conflict. The industry needs to understand their plight better and recognize there are still diamonds — and entities — that can tarnish the trade’s hard-won improved reputation.

Toward Gender Equality in a Post-Covid-19 World
WITH Iris Van der Veken

The coronavirus has had a disproportionate impact on women. As we emerge from the pandemic, the jewelry industry has a role to play in rebuilding a fairer society.

UPS AND DOWNS
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Signet Raises Minimum Wage to $15 Per Hour
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How India Won the Long Legal Battle to Bring Modi Back
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The Best Jewelry at the 2021 Golden Globes
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Jewelry Store Manager Pleads Guilty to Lying to FBI
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WEEKLY NEWS
industry
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Diamond Prices Stable as Market Finds Balance
Industry optimistic in February amid solid jewelry sales in US and China.
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India Blames High US Duties for Export Slump
Erosion of preferential trade status has caused drop in gold-jewelry shipments since 2007, GJEPC argues.
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Alrosa Lifts Production Forecast as Market Rallies
Output will increase 5% in 2021, miner predicts.
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Groups Urge Caution over Central African Republic
World Diamond Council and Antwerp World Diamond Centre call for “enhanced due diligence” amid rebel activity.
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Sarine Sees Profit Following Cost Cuts
Deep reductions to expenses compensate for revenue slump in 2020.
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IIJS Signature Show to Take Place in April
Mumbai event will be first large trade fair for more than a year.
retail
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NRF: Vaccine Rollout to Boost US Retail in 2021
Sales will grow between 6.5% and 8.2% to more than $4.33 trillion, group says.
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Hong Kong Retail Continues to Decline
Sales of jewelry, watches, clocks and other valuable gifts drop 32% in January.
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Kering Invests in Secondhand Luxury Site
Company secures 5% stake in Vestiaire Collective as part of $216 million funding round.
mining
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Alrosa to Sell 242ct. Rough Diamond
Miner rarely offers its large stones to the trade due to restrictions enshrined in Russian law.
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Lulo Mine Yields Third Diamond over 100ct. This Year
114-carat, D-color stone follows string of high-value discoveries at Lucapa’s Angola site.
general
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Indian Trade Body Ties Up with eBay
Gem & Jewellery Export Promotion Council says agreement will help boost online sales.
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Beyoncé, Lorraine Schwartz Create GIA Scholarship
Two Black jewelry professionals will receive full tuition for institute’s graduate-gemologist program.
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Influencer Launches Jewelry Awards
Tatyana Pfaifer will split $100,000 among seven winners.
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Nirav Modi Extradition Draws Nearer
London court says there’s enough evidence for tycoon to stand trial.
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Sarine to Float Shares on Tel Aviv Stock Exchange
Listing will broaden access to investors, company says.
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US Manufacturing Body Elects New President
Stuart Samuels succeeds Ronnie Vanderlinden at the Diamond Manufacturers & Importers Association of America.
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FINANCE
Diamond Industry Stock Report
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US stocks gained as investors bet on an economic boom resulting from the vaccine rollout and a new round of stimulus checks. Signet (+6%) and Macy’s (+4%) both rose. European and Hong Kong shares fared less well amid a rise in virus cases and continued lockdowns. Luk Fook (-6%), Pandora (-5%) and Chow Sang Sang (-1%) all fell. Mining had a mixed week, with Rio Tinto (-8%), Petra (-8%), Anglo American (-3%) and Lucara (-3%) losing ground, while Mountain Province (+7%), Gem Diamonds (+5%), Lucapa (+5%) and Alrosa (+4%) climbed. 

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