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Rapaport TradeWire March 5, 2020

Mar 5, 2020 10:50 AM   By Rapaport
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26 Nov 19 Igi Tw Banner Jewelry
Rapaport TradeWire
March 5, 2020

Sharp decline in diamond trading amid fears coronavirus will lead to global slowdown. Midstream inventory losing value as manufacturers consider deeper discounts to raise liquidity. Polished prices falling due to China shutdown, with 1 ct. RAPI -1.6% in Feb. De Beers allows deferral of Chinese goods as sales -28% to $355M at Feb. sight. De Beers to customize sightholder supply for dealers, manufacturers and retailers starting in 2021. Belgium Jan. polished exports -22% to $605M, rough imports +14% to $829M. Baselworld canceled due to virus, JCK Las Vegas shows still on. Martin Rapaport to give Diamond Market Challenges webinar Thursday Mar. 19 at 10 a.m. GMT and 12 p.m. EST.

5 Nov 2019 Gemolithos Tw Banner
Weekly Monthly Y2Y
0.30 ct -0.45% -1.91% -4.40%
0.50 ct 0.53% -1.25% -3.74%
1.00 ct -0.49% -2.38% -7.26%
3.00 ct -1.10% -2.66% -16.91%
RAPI Yearly Graph
Trade Wire 600X160 April 2018
Market Reports
United States: Overseas dealers trying to sell in New York as Hong Kong and China reach a standstill...
Belgium: Some demand for round, 2 ct.+, H-I, IF-VS2 diamonds and for well-cut pears and ovals...
Israel: Suppliers concerned about decline in inventory value....
India: Travel restrictions reducing presence of foreign buyers in Mumbai...
Hong Kong: Jewelry stores remain either closed or operating fewer hours with skeleton staff...
13 Nov 2019 Gia Id 100 Machine Tw Banner
Webinar: Diamond Market Challenges
WITH Martin Rapaport

The Rapaport chairman will address the major issues impacting the diamond industry, including:

– The effects of the coronavirus

– The threat of synthetic diamonds

– The credit crunch

– The outlook for India, China and the US market

March 19 at 10 a.m. GMT and 12 p.m. EST.

WITH Jewelry Connoisseur by Rapaport

The cinematic glamour of Rome’s “Dolce Vita” years infuses the Italian maison’s latest collection. Jewelry director Lucia Silvestri shares her creative perspective.

Ellendale Revival on the Horizon as Diamond Value Rises
Watch Brands to Hold Their Own Swiss Fair
Diamond Workers Threaten Strike over Professional Tax
Pandora Closes 30 Shops in Italy Due to Virus
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Polished Prices Slide Amid Coronavirus Fears
Suppliers face liquidity crunch as sales to China and Hong Kong slow to a crawl.
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De Beers Reveals Overhaul of Sight System
Manufacturers, dealers and retailers will receive a more bespoke selection of rough diamonds.
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JCK Las Vegas to Go Ahead
Organizers closely monitoring impact of epidemic.
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Baselworld Canceled Due to Coronavirus
Event postponed until January 2021 following Swiss ban on large public gatherings.
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GIA Calls Off New York Career Fair
Move is “in best interest of participants’ health and safety.”
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Hong Kong Marks Full Year of Retail Declines
Sales of jewelry and other valuable gifts fell 42% in January.
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Pandora to Slash 180 Jobs in Restructuring
Company will remove management layers to help it adapt faster to customer feedback.
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Tiffany Appoints New Chief Gemologist
Victoria Wirth Reynolds is the first woman to hold the position.
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Macy’s Notes Solid Quarter for Jewelry
Sales otherwise weak in the three months ending February 1.
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De Beers Sales Fall as Virus Impacts Sentiment
February proceeds drop 28% to $355 million.
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Botswana Mining Slowdown Hits Economic Growth
Diamond-cutting sector also weak, says central bank.
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Letšeng Mine Yields 114ct. Rough
Stone is second over 100 carats Gem Diamonds has unearthed this year.
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Angola Diamond Reforms Buoy Country’s Finances
Tax revenue has increased 42% in the last two years.
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Belgium’s Polished Trade Slows in January
Rough imports show first monthly growth since December 2018.
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Former Oscar Heyman President Dies
Marvin Heyman held the role from 2001 until his retirement in 2015.
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WJA Campaign Targets Female Self-Purchasers
March Is Me Month set to align with International Women’s Day and Women’s History Month.
Tradewire Banner March Single Stone
Diamond Industry Stock Report

Retail stocks mainly fell as the coronavirus affected global consumer demand. J.C. Penney (-11%), Macy’s (-7%), Swatch Group (-5%) and Richemont (-2.5%) all lost ground. Pandora (-6%) dropped after the jeweler closed stores in Italy and announced it would cut 180 employees in a separate restructuring process. Walmart (+3%) received a short-term boost as concerns about supply shortages prompted shoppers to buy essential items. Mining shares plunged, with Firestone (-33%), Lucapa (-22%), Mountain Province (-17%), Lucara (-16%), Petra (-14%) and Gem Diamonds (-10%) all sliding. 

Rapnet Trade Wire
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Tradewire Box March Single Stone
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