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Rapaport TradeWire March 25, 2021
Mar 25, 2021 11:22 AM
By Rapaport
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| March 25, 2021 | | RAPAPORT MARKET COMMENT |  | | Polished trading seasonally slow ahead of Passover and Easter holidays. Some distress over another Covid-19 wave in Europe and India. Dealers still confident for 2021. Projections show strong 2Q growth compared to 2020 lockdown period. Vaccine rollout, stimulus checks fueling optimism among US dealers and jewelers. GIA backlog causing inventory concerns. Manufacturer profit margins tightening following robust rough buying and price hikes. De Beers limiting goods during March sight. Industry mourns passing of iconic Tiffany & Co. designer Elsa Peretti and former Sterling Jewelers CEO Nate Light. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.62% | -0.01% | 4.91% | | 0.50 ct | -0.58% | -0.30% | 15.45% | | 1.00 ct | 0.06% | 1.63% | 15.25% | | 3.00 ct | -0.08% | 1.30% | 2.68% |  | | 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: Top-quality fancy shapes in 2 to 3 ct. range selling well, with shortages supporting prices... |  |  | Belgium: Concern growing over increase in Covid-19 cases and pending lockdown... | | |  | Israel: Business activity slackening despite lifting of pandemic restrictions... | | |  | India: More polished becoming available due to rise in manufacturing since the beginning of the year... | | |  | Hong Kong: Local retail sluggish amid ongoing lack of tourism and slow rollout of vaccinations... | | |  | | | Making Up for Lost Time |  | | WITH Roberta Naas | Watch brands and retailers had to shift gears in 2020 as Covid-19 disrupted business. How will those changes carry over into the year to come? |  | | | WEEKLY NEWS | | industry | | | | GIA Backlog Raising Concerns for Manufacturers | | Increase in demand for grading has led to severe delays. |  | | | Lorraine Schwartz Initiative Names First Participants | | Six designers will receive $20,000 each through project with Natural Diamond Council. | | | | | Grib Sees Price Rise for Smaller Rough | | March sale brings in more than $50 million, with some categories beating expectations. | | | | | retail | | | | Engagement-Ring Spending Drops Slightly | | Consumers shelled out an average of $5,500 in 2020, compared to $5,900 in 2019. | | | | | Tiffany Mourns Famed Designer Elsa Peretti | | Jewelry creator transformed everyday items into bracelets and necklaces. | | | | | Sterling’s Nate Light Dies at 86 | | Former CEO was responsible for the jewelry powerhouse’s growth. | | | | | Silver Jewelry Demand Strong in 2020, Survey Finds | | 42% of retailers reported an increase in sales, Silver Promotion Service notes. | | | | | mining | | | | Banks Sign Up to Fund Lucara’s Karowe Expansion | | Five institutions to finance underground project at Botswana mine. | | | | | Ellendale Mine to Change Hands Again | | Gibb River to sell project to Burgundy Diamond Mines for $5.1 million plus company shares. | | | | | Lucapa Completes Mothae Expansion | | Project will increase output at the mine by 45%. | | | | | general | | | | Christie’s Gets Colorful with New York Auction | | Three fancy-vivid diamond rings will lead sale. | | | | | Jonathan Kendall Assumes Jewelry Trade Role | | Former De Beers executive will help plan CIBJO’s strategy. | | | | | 41.50ct. Diamond to Lead Sotheby’s New York | | Auction house expects D-flawless stone to fetch up to $5.5 million. | | | | | Christie’s Online Jewelry Auction Sells Out | | Company garners $799,125, with many items beating estimates. | | | | | New Trade Show to Launch in Dubai | | Jewellery, Gem & Technology (JGT) is the work of Informa and Italian Exhibition Group, two major fair organizers. | | | | | New Jewelry Center Mulling Design School | | Time Century mall in Miami will grant students access to seasoned practitioners. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global stocks fell this week amid concerns about further Covid-19 waves. Macy’s (-23%), Birks (-21%), Signet (-12%), Kering (-7%), Chow Tai Fook (-5%), Luk Fook (-5%) and Swatch Group (-5%) all slid. Mining stocks also fared poorly: Mountain Province (-15%), Anglo American (-5%), Lucara (-5%), Petra (-5%) and Rio Tinto (-4%) declined. Lucapa (+5%) bucked the trend after reporting an increase in the resource estimate at its Lulo mine in Angola. | | | | | 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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