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Rapaport TradeWire June 4, 2020

Jun 4, 2020 11:03 AM   By Rapaport
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Rapaport TradeWire
June 4, 2020

Hong Kong emerging as important trade center with some post-coronavirus demand from China. US market mostly shut. New York and other regional centers closed due to Covid-19. Riots and looting are keeping jewelry stores closed following tragic death of George Floyd. India slowly reopening with Surat operating at 70% but Mumbai in lockdown except for limited staff handling exports. Rough markets at standstill. Limited sight expected in Antwerp. India begins 30-day voluntary rough import freeze. Alrosa allowing deferrals at June contract sale and offering goods online. Petra cancels May sale after rough prices -27% since Feb. DPA rebrands as Natural Diamond Council with tagline “Only Natural Diamonds.” Rapaport Price List returning to weekly publication starting next Thursday, June 11. 

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Weekly Monthly Y2Y
0.30 ct -0.91% -1.24% -4.23%
0.50 ct -0.84% -0.16% -8.37%
1.00 ct 0.28% 1.00% -11.23%
3.00 ct -2.59% -3.61% -11.76%
RAPI Yearly Graph
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Market Reports
United States: Jewelers and diamantaires acclimating to new normal and improving e-commerce platforms to facilitate sales...
Belgium: More miners considering viewings in Antwerp given ongoing lockdown in southern Africa and India...
Israel: Trading floor open with social distancing and sanitization measures...
India: Manufacturers commence 30-day voluntary ban on rough imports to ease liquidity...
Hong Kong: Retail slow amid reports of second wave of infections in some areas, and concerns about renewed protests against China security laws...
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Ben Macklowe, president of the Macklowe Gallery, talks to Rapaport Editor in Chief Sonia Esther Soltani about educating collectors, expanding knowledge of lesser-known eras, and enhancing a client’s emotional connection to an antique piece of jewelry.

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In the first episode of the Rapaport Group’s Recovery Webinar Series, Senior Analyst Avi Krawitz discusses the state of the luxury market in the coronavirus era with Sally Morrison, director of public relations at De Beers’ consumer and brands division.

Diamond Consumers Returning as Stores Reopen in China
New York Diamond District Spared Amid Riots, Looting
Boston Consulting, De Beers Sued over Blockchain Patent
Jewelers Less Than Optimistic About V-Shaped Recovery
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Protests Lead to Looting of US Jewelry Stores
Thieves have smashed store windows and displays, stolen merchandise, and destroyed premises, owners say.
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Diamond Markets Return Cautiously
Trading starting to regain traction in Hong Kong; China showing some demand.
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DPA Relaunches as the Natural Diamond Council
Unveiling new look, organization aims to be a leading content publisher.
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De Beers Offering Sight Goods Outside Botswana
Miner will introduce provision at June sale amid travel restrictions.
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LVMH-Tiffany Deal Faces Uncertainty
European luxury group’s board meets to discuss Covid-19 impact on New York jeweler.
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Hong Kong Retail Sales Hit All-Time Low
Revenue from jewelry, watches, clocks and other valuable gifts down 77% in April.
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Titan Expects Profit Hit from India Lockdown
Company was unable to sell during Covid-19 crisis.
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Alrosa Allows Deferrals at Third Consecutive Sale
Customers can still make purchases remotely.
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Petra Mulls June Tender After Rough-Price Slump
Miner cancels May sale as demand drops.
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Lucapa Raises $3.6M for Lulo Kimberlite Hunt
Proceeds from sale of new shares will help company search for source of its high-value alluvial diamonds.
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Alrosa Sees Demand for Rough at Digital Sale
Customers buy 102 large diamonds in first round of online tender.
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IGI Reopens Global Offices
Operations in New York and India still limited.
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Christie’s Magnificent Jewels Set for July
Auction house will hold three sales during the month, in Geneva, New York and Hong Kong.
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JA Reveals CASE Award Winners
Honorees include David Gardner’s Jewelers for platinum bracelet featuring 600 round brilliant diamonds.
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SSEF Launches Service Identifying Pearl Species
DNA fingerprinting enables Swiss lab to determine the oyster type in which a given specimen formed.
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Diamond Industry Stock Report

Retail stocks rebounded as governments continued to ease coronavirus-related restrictions and customers returned to buying. Macy’s (+51%), Signet (+50%), Pandora (+22%), Kering (+16%), Richemont (+12%) and LVMH (+8%) all gained. Tiffany (-9%) fell on reports that LVMH was reconsidering its deal to acquire the jeweler. Mining stocks also saw a revival as operations resumed at most deposits, with Petra (+52%), Gem Diamonds (+14%), Anglo American (+10%), Mountain Province (+9%) and Lucara (+9%) all climbing.

Rapnet Trade Wire
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