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Rapaport TradeWire August 5, 2021
Aug 5, 2021 10:52 AM
By Rapaport
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| August 5, 2021 | | RAPAPORT MARKET COMMENT | | | | Diamond trading quiet amid summer lull and uncertainty over Covid-19 Delta variant. Dealers preparing for Vegas show, but travel restrictions will limit international presence. US supporting the market, with steady orders and good memo sell-through. Polished prices firm despite increase in inventory; 1 ct. RAPI +3.1% in July. Rising expectations for holiday season. Rough market stable after recent price hikes. Rio Tinto 1H diamond revenue +13% to $160M, profit of $5M. Sarine 1H sales +61% to $36M. Jewelers of America appoints Robert Moeller as chairman. Sam Sandberg named president of Plumb Club. Diamond Dealers Club of South Africa elects Molefi Letsiki as chairman. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.02% | 0.07% | 6.37% | | 0.50 ct | -0.04% | 1.27% | 12.25% | | 1.00 ct | 0.12% | 3.01% | 21.71% | | 3.00 ct | 0.30% | 0.64% | 17.59% | | | | 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: Estate jewelry market strong, with dealers seeking old mine and European cuts... | | | | | Belgium: Rough demand robust despite high prices at Antwerp tenders... | | | | | Israel: Many planning to attend JCK Las Vegas show despite mandated quarantine on return... | | | | | India: Manufacturers raising polished production but high rough prices impacting margins.... | | | | | Hong Kong: Chinese market relatively slow; emphasis on e-commerce as spread of Delta variant on the mainland raises concerns... | | | | | | | Social Responsibility | | | | WITH MARTIN RAPAPORT | Society is questioning the role and purpose of business. Is it to make profits for shareholders or to benefit stakeholders and society? There must be a direct positive correlation between profitability and social responsibility, says Martin Rapaport in the first of a series of articles on the topic from August’s Rapaport Magazine.
| | | | | The A to Z of Sustainability | | | | WITH AVI KRAWITZ | The diamond and jewelry trade is gradually embracing initiatives to help communities, clean the planet, and ensure its product is ethically sourced. This is necessary considering the global movement toward social responsibility. The industry has the tools to play its part, Rapaport Senior Analyst Avi Krawitz argues in this week’s “Field Notes” column. | | | | | De Beers Reveals Plans for Retail, Botswana | | | | WITH JOSHUA FREEDMAN | While the mining giant’s revenue and profit bounced back in the first half of 2021, questions remain about some important strategic issues. In a wide-ranging interview, CFO Sarah Kuijlaars gives her perspective on the company’s plans for its consumer brands, its recent purchases of high-value rough, and negotiations with the Botswana government over a new sales deal. | | | | | WEEKLY NEWS | | | | | | Retail Recovery Driving Up Diamond Prices | | Sentiment upbeat in July despite seasonal slowdown and high cost of rough. | | | | | Signet Signs Key Deals on Lending and Credit | | Jeweler extends $1.5 billion bank facility to July 2026. | | | | | Fancy Color Price Index Up Across the Board | | Figure climbed 0.2% in second quarter, FCRF says. | | | | | Scientists Launch Program to Track Diamond Origin | | Source Certain will provide traceability technology for SCS Global Services’ sustainability standard. | | | | | | | | | Signet to Rename Its Piercing Pagoda Brand | | Chain will be known as Banter, as jeweler aims to connect with new consumers. | | | | | Hong Kong Retail Slow to Recover | | Lack of tourism kept sales below pre-pandemic levels in June. | | | | | Chow Sang Sang Expects Profit Surge | | Figure increased by estimated 145% to 155% in first half. | | | | | | | | | Rio Tinto Diamond Profit Back on Track | | Miner reports first-half earnings of $5 million, compared with heavy losses a year earlier. | | | | | Lucara Recovers 394ct. Rough from Karowe | | Diamond is seventh over 300 carats the mine has produced this year. | | | | | Mountain Province Bounces Back as Demand Jumps | | Sales and profit strengthen in second quarter. | | | | | | | | | Sarine Sales Soar as Manufacturing Returns | | Revenue rallies after last year’s pandemic-induced slowdown. | | | | | Jewelers of America Picks New Chair | | Robert Moeller will succeed Holly Wesche. | | | | | Ex-RJC Exec Joins Sustainability Standards Group | | Brandee Dallow will support SCS Global Services’ certification efforts for fine jewelry, accessories and apparel. | | | | | Grib Sees Strong Demand at Rough Auction | | Company sells 7ct. purple diamond for a record $100,000 per carat. | | | | | Plumb Club Chooses New President | | Sam Sandberg will take over from Michael Lerche. | | | | | Revenue Surges at India’s Asian Star | | Polished manufacturer’s quarterly sales increase more than fivefold as demand rebounds. | | | | | South Africa Bourse Elects New Chairman | | Molefi Letsiki succeeds Lionel Noach for a three-year term. | | | | | | | | Diamond Industry Stock Report | | | Retail stocks dipped following a resurgence of Covid-19 cases. Chow Tai Fook (-8%), Signet (-5%), Luk Fook (-2%) and Swatch (-2%) all fell. Mining shares fared better, with Mountain Province (+6%), Gem Diamonds (+5%), Alrosa (+4%) and Anglo American (+2%) rising. Rio Tinto (-4%) was the exception. | | | | | 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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