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Rapaport TradeWire December 2, 2021

Dec 2, 2021 11:08 AM   By Rapaport
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December 2, 2021
RAPAPORT MARKET COMMENT
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Sentiment upbeat after strong start to holiday season. Jewelry sales +78% over Thanksgiving weekend, Mastercard SpendingPulse reports. Overall e-commerce -1.4%, according to Adobe. Signet Jewelers 3Q revenue +18% to $1.5B, profit up tenfold to $93M. Jewelers with inventory enjoying record season. Dealers struggling to buy at current prices. 1 ct. RAPI +0.9% in Nov. China and Hong Kong improving ahead of Lunar New Year. Concern that Covid-19 Omicron strain will limit trading due to new travel restrictions. Rough market stable for now; manufacturers worried about shortages and tighter profit margins. India Oct. polished exports +45% to $2.6B, rough imports +2% to $1.4B.

RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct
-0.24%
0.76%
-2.51%
0.50 ct
0.04%
0.56%
-0.03%
1.00 ct
0.52%
0.80%
13.83%
3.00 ct
3.84%
5.02%
16.04%
RAPI Yearly Graph
Market Reports
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United States: Dealers looking for inventory due to positive outlook...
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Belgium: Good interest in round, 1 to 2 ct., F-H, VVS1-SI1 diamonds...
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Israel: Buyers looking for goods from India but finding it difficult to meet their needs due to high prices...
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India: Polished sector buoyant as manufacturers focus on US and Far East holiday orders...
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Hong Kong: Mainland seeing strong performance ahead of Lunar New Year...
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Behind De Beers’ Strategy
WITH THE RAPAPORT DIAMOND PODCAST

The diamond industry’s shift toward digital is only going to intensify, says Neil Ventura, De Beers’ vice president of strategy and innovation. On the latest episode, he speaks with Rapaport’s Avi Krawitz about the mining giant’s approach and how the trade can embrace the developments.

UPS AND DOWNS
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WEEKLY NEWS
retail
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Signet Ups Sales Outlook for Fifth Time
Retailer predicts full-year growth of up to 43% after strong third quarter.
Jewelry Leads US Holiday Weekend Spending
Category up 78% year on year, according to Mastercard SpendingPulse.
Black Friday Sees Rare Slowdown in Online Sales
Total came to $8.9 billion, at lower end of predicted range and under 2020’s figure, Adobe says.
Cyber Monday Sales Fall Short of Forecasts
Consumer buying down 1.4% year on year, reports Adobe.
Thanksgiving Weekend Spending Drops
Consumers had already completed most of their shopping, NRF says.
Hong Kong Retail Reaches Pre-Pandemic Levels
Sales of jewelry and other hard luxury up 23% in October.
Chow Tai Fook Invests in Diamond Marking Firm
Jeweler buys minority stake in New Cutting Edge.
Luk Fook Revenue, Profit Bounce Back
China expansion and Hong Kong and Macau recovery drive sales.
Hong Kong’s Tse Sui Luen Sees Sales Surge
Revenue up 19% in first fiscal half.
industry
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De Beers Owner Plans Global Vaccine Mandate
Anglo American intends to require jabs for anyone entering sites and offices.
Blue Diamond Earrings Fetch $7M at Hong Kong Sale
Set was top lot at $64 million Christie’s Magnificent Jewels auction.
US Abandons Proposed Tariffs on Indian Goods
Countries reach agreement over controversial digital tax.
Christie’s Rakes In Nearly $6M at London Sale
1.02-carat, fancy-vivid-blue diamond was best seller, fetching $534,800.
mining
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Endiama to Boost Production Ahead of IPO
Angola mining company expects output of over 10 million carats and turnover of $1.4 billion in 2022.
Ekati Owner Sees Underwater Mining as Site’s Future
New technology could expand deposit’s life by “decades,” Arctic Canadian Diamond Company says.
Diavik Faces Charges over Alleged Safety Violations
Worker suffered injury when slab of rock fell on machine he was operating.
Output Slumps at Zimbabwe’s Murowa Mine
Operations focused on lower-grade ore in third quarter.
general
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US Polished Imports See Gentler Rise
Shipments up 7% in September.
Belgium Diamond Shipments Increase Sharply
Polished exports jumped 50% in October.
India’s Polished Exports Hit Four-Year High
Figure rose 45% year on year in October.
Plumb Club Adds New Category to Member Roster
Gemological Science International is first service organization to participate in group.
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