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Rapaport TradeWire June 18, 2020

Jun 18, 2020 11:19 AM   By Rapaport
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Rapaport TradeWire
June 18, 2020

Sentiment improving as US retail shows signs of recovery with May sales +18% from previous month. Dealers and jewelers anticipating rise in bridal demand. Geopolitical tensions and Covid-19 outbreak in Beijing fueling caution about China. Rough producers see interest in large, investment-grade diamonds; D-IF prices firming in smaller-size polished (0.50 to 2 ct.). Surat factories operating at very low capacity, as India April-May rough imports -94% to $81M, polished exports -79% to $389M. Grib Diamonds sells 90% by value at Antwerp rough auction, with slightly higher prices than March. Industry mourns death of Rosy Blue founder Arunkumar Mehta. GJEPC elects Colin Shah as chairman.

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Weekly Monthly Y2Y
0.30 ct -0.56% -1.42% -3.92%
0.50 ct 0.22% -0.86% -7.87%
1.00 ct 0.55% 1.09% -10.17%
3.00 ct -0.41% -3.89% -11.64%
RAPI Yearly Graph
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Market Reports
United States: Suppliers receiving some memo requests, mainly for bridal goods...
Belgium: Customers placing sporadic orders and demand selective, with no inventory buying...
Israel: Minimal dealer trading taking place, with growing concern the slow market will continue...
India: Cautious optimism that market can improve before Nov. 14 Diwali festival...
Hong Kong: Retail recovery in mainland China boosting expectations for polished demand...
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A Call for Much-Needed Change
WITH Kassandra Lauren Gordon

As US protests raise awareness of systemic racism, the jewelry industry must examine its own failures in this regard and take action to promote and support Black jewelers.

How Covid-19 Will Transform Stores
WITH The Rapaport Diamond Podcast

The coronavirus has forced retailers into new ways of doing business. In this webinar, Rapaport Editor in Chief Sonia Esther Soltani and Elle Hill (pictured), CEO of jewelry consultancy firm Hill & Co., discuss the steps jewelers must take to adapt.

Defining the Cartier Style
WITH Jewelry Connoisseur by Rapaport

In the latest podcast episode, Francesca Cartier Brickell, author of best-seller The Cartiers, explains what made the French brand’s pioneering designs so timeless.

Some People Are Stress-Shopping Diamond Bracelets
The Businesswoman Who Invented Her Own Diamond Cut
Diamond Sales Stop Amid Store Closures
Pandora No Longer Going to Jared
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Covid-19: The Situation in Key Trading Hubs
A summary of infection rates and lockdown statuses in major diamond centers.
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Industry Mourns Passing of Arunkumar Mehta
Rosy Blue cofounder was one of the Indian trade’s most prominent leaders.
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De Beers Sight Opens with Viewings in Antwerp
Miner could offer goods in Hong Kong and Dubai at later stage.
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Virus Cases Shut Parts of Surat Cutting Units
Up to 23 workers test positive for Covid-19.
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JCK to Hold Virtual Las Vegas Show
August event will feature trading, talks, browsing, and interactive networking.
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Dominion Sues Rio Tinto over Handling of Diavik
Joint-venture partner failed to control costs at the mine in Canada, filing alleges.
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US Retail Sales Rebound in May
Revenues up 18% from April but still down year on year.
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Growing Up with Gen Z
Companies that can serve up relatable products via digital media will have the best chance of tapping into this demographic.
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Gem Diamonds Notes Solid Rough Demand
Average prices rise 1% in first half; market improves at Antwerp tender.
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Rio Tinto Not Interested in Buying Out Dominion
Miner has no plans to purchase Ekati or remaining shares in Diavik.
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Rough Prices Climb at Grib Auction in Antwerp
Goods destined for China are strongest item at first sale since March.
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Fancy-Color Diamonds Lead Sotheby’s Lineup
Ring featuring 5.04-carat blue estimated to fetch $9.7 million in Hong Kong.
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Christie’s to Auction $13M Two-Stone Ring
Piece will lead Geneva Magnificent Jewels sale on July 22.
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JVC Releases Guide to FTC Rules
Book deciphers the US agency’s complex jewelry directives.
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DDE Reopens with Revamped Trading Floor
Safety measures in place as Dubai bourse resumes tenders.
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GJEPC Elects New Chairman
Colin Shah will succeed Pramod Agrawal in the role for a two-year term.
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Diamond Industry Stock Report

US retail shares were mostly negative this past week despite strong sales data for May, with Macy’s (-9%) and Signet (-4.2%) heading the declines. Chow Tai Fook (+13%) led Hong Kong stocks amid optimism that Chinese consumer spending could recover soon. Pandora (+6%) stood out in a mixed batch for European equities. Miners had varied performances, with Lucara up 18%, while Gem Diamonds (-13%) and Petra Diamonds (-14%) fell.

Rapnet Trade Wire
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