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Rapaport TradeWire April 16, 2020

Apr 16, 2020 11:20 AM   By Rapaport
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26 Nov 19 Igi Tw Banner Jewelry
Rapaport TradeWire
April 16, 2020

Diamond industry under stress as mining, manufacturing and retail centers remain closed during COVID-19 lockdown. US government starts $2.2 trillion stimulus to help relieve liquidity pressures as new unemployment claims exceed 20 million in April. US retail sales slide -6.2% in March. China retail reopening to light traffic. Chow Tai Fook 4Q China same-store sales -50%, Hong Kong/Macau -65%. Some junior miners deem operations uneconomical at current low rough prices. Petra Diamonds prices -27% in March. Alrosa reduces inventory -6% to 21.1 million carats in 1Q, sells $149M rough and $4.2M polished in March. Exhibitors clash with Baselworld over refund policy as watch majors Rolex, Patek Philippe, Chanel, Chopard and Tudor pull out.

5 Nov 2019 Gemolithos Tw Banner
Weekly Monthly Y2Y
0.30 ct -0.64% -4.25% -5.83%
0.50 ct -0.31% -4.14% -9.24%
1.00 ct -0.07% -5.27% -13.15%
3.00 ct -0.94% 6.22% -10.63%
RAPI Yearly Graph
Trade Wire 600X160 April 2018
Market Reports
United States: Retailers closed nationwide, with major jewelers furloughing workers...
Belgium: AWDC to host webinar on April 17 explaining government support measures during COVID-19...
Israel: Israel Diamond Exchange president Yoram Dvash outlines benefits available to diamantaires...
India: Some manufacturing sectors could resume before May 3 end to lockdown...
Hong Kong: Retail inventory levels higher than normal, with Chow Tai Fook reporting 15% year-on-year inventory increase on February 29...
13 Nov 2019 Gia Id 100 Machine Tw Banner
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Buying jewelry from the public comes with its share of both risks and rewards. Estate expert Russell Fogarty shares what some of them are.

China Has Become a Testing Ground for Luxury Brands
‘Revenge Spending’ Could Save Diamond Industry
Rio Tinto Denies Allegations in Mining-Project Dispute
Diamond Sector Grinds to a Halt Amid India Lockdown
Rn Drive Business 032520 Banners Final 600X160Px Static Buy
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Baselworld Mulls Its Future as More Brands Quit
Rolex and Patek Philippe exit to launch breakaway show.
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Alrosa Reduces Inventory in First Quarter
Sales fall but still exceed production.
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Hong Kong Shows Postponed to August
Events originally slated for March have been rescheduled a second time.
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US Retail Sales See Record Decline
March slowdown worse than during November 2008 recession, NRF says.
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Chow Tai Fook Revenue Tumbles Due to Virus
Quarterly same-store sales down 50% in China and 65% in Hong Kong and Macau.
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Graff Donates $1M to Fight Pandemic
Money will help provide medical supplies in the most vulnerable countries.
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Alrosa Sales Slump to $153M in March
Rough revenue plummets 60% amid COVID-19 pandemic.
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Petra Sees Rough Prices Drop 27%
Miner holds back goods to sell when conditions improve.
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Lucapa Inks Polishing Partnership for Mothae
Unnamed diamantaire buys first 3,963 carats for $2 million.
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Exhibitors Clash with Baselworld over Refund Policy
Show attendees claim they were not consulted about new dates, which conflict with other fairs.
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India’s Polished Exports Fall 41% in February
Drop reflects lower demand from Hong Kong and China.
Tradewire Banner April Final
Diamond Industry Stock Report

Retail stocks rebounded following major slumps amid the coronavirus pandemic. Macy’s (+29%), Signet (+21%), Chow Tai Fook (+17%), LVMH (+6%) and Richemont (+5%) all rose. J.C. Penney (-30%) fell after reports that it might need to file Chapter 11. Mining stocks also showed improvements, with Petra (+95%), Gem Diamonds (+26%), Mountain Province (+13%) and Lucara (+13%) all up.

Rapnet Trade Wire
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Ris Jclaunch Banners 121619 Statics Final 300X300 New
Tradewire Square April Final V2
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