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Rapaport TradeWire July 9, 2020
Jul 9, 2020 11:25 AM
By Rapaport
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| July 9, 2020 | | RAPAPORT MARKET COMMENT |  | | Diamond trade uncertain amid spike in coronavirus infections and new restrictions in India and Israel. Prices firm for select goods as 1 ct. RAPI +1.9% in June. Investment demand for 0.50 to 1 ct., D, IF and bridal supporting the market. Rough trading significantly reduced as Surat factories close again for lockdown. Miners under pressure. Smaller producers willing to drop prices to generate sales and raise liquidity. Manufacturers seeing greater profit from rough bought at tenders than at De Beers or Alrosa contract sales. Global 2019 production -7% to $13.5B, volume -12% to 130M cts., average price +6% to $103/ct. Belgium June exports -44% to $469M, rough imports -48% to $351M. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.23% | -0.10% | -0.51% | | 0.50 ct | -0.05% | 1.12% | -5.10% | | 1.00 ct | 0.29% | 1.67% | -8.31% | | 3.00 ct | -1.02% | -1.40% | -9.61% |  | | 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: Bridal, branded pieces and vintage estate jewelry generating steady sales... |  |  | Belgium: Industry cautious about current conditions but optimistic for fourth quarter... | | |  | Israel: Delay in international shipments causing dealers to source domestically rather than from India... | | |  | India: Liquidity tight amid reports some foreign buyers delaying payment... | | |  | Hong Kong: Luxury retailers struggling due to drop in tourist shoppers and slump in local buying... | | |  | | | Could Covid-19 Reshape the Memo Market? |  | | WITH Joyce Kauf | Consignment has been the cornerstone of the industry, but businesses are wondering whether the post-coronavirus environment will change that. |  | | | WEEKLY NEWS | | industry | | | | Diamond Price Index Firms Amid Slow Trade | | Covid-19 resurgence leads to market uncertainty in June. |  | | | Israel Diamond Industry ‘on Verge of Collapse’ | | Coronavirus to cost sector more than $580 million, bourse president tells Prime Minister Netanyahu. | | | | | India Trade Calls for Lower Import Tax | | GJEPC also wants looser restrictions on miners’ rough sales in the country. | | | | | September Hong Kong Show Now in November | | Event will take place at one venue instead of usual two. | | | | | Surat Factories to Stay Shut Until July 14 | | Authorities allow trading markets to reopen this Friday. | | | | | retail | | | | Survey: Shoppers Prefer to Buy Jewelry In-Store | | Consumers want expert advice and personal attention, but also wish to feel safe, De Beers finds. | | | | | Signet Lands on Top 100 Retailers List | | US jeweler comes in at number 98 on NRF ranking. | | | | | Titan Sales Slump as Lockdown Hits India | | Jewelry revenue down 80% in May and 30% in June. | | | | | Birks Sidelines Omni-Channel Role | | Company lets go of Lanita Layton as coronavirus forces reorganization of management. | | | | | mining | | | | Alrosa Delays July Sale to Later in Month | | Russian miner also reschedules August trading session. | | | | | Global Rough Production Slides in 2019 | | Figure fell 7% to $13.48 billion, Kimberley Process says. | | | | | Two Parties Interested in Buying Dominion | | Companies have signed non-disclosure agreements to access proprietary information about the miner. | | | | | general | | | | Belgium’s Diamond Shipments Drop Further | | Polished exports down 44% in June, but rate of decline eases. | | | | | Christie’s Garners $5M at Paris Auction | | Sapphire and diamond ring by Verdura is top-selling jewelry piece. | | | | | DMCC Opens Doors to Lab-Grown Business | | Dubai hub welcomes Lumex as it looks to continue synthetics expansion. | | | | | Industry Leaders to Offer Insights in Virtual Session | | Executives from De Beers, Alrosa and Signet to speak at Diamonds Do Good gathering. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Retail stocks improved as the US economy continued to reopen. Pandora (+8%), Birks (+6%), Macy’s (+4%) and Walmart (+4%) all gained. Shares in mining companies were largely flat, with Lucapa, Anglo American and Gem Diamonds all trading within 1% of their prices from a week earlier. The exceptions were Lucara (+5%) and Petra (-6%). | | | | | 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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