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Rapaport TradeWire July 16, 2020

Jul 16, 2020 11:42 AM   By Rapaport
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Rapaport TradeWire
July 16, 2020

Diamond markets quiet amid new wave of coronavirus infections. Demand selective with dealers filling specific orders from US and Chinese jewelers. Midstream inventory reduced as manufacturers limit rough buying. Lucara to sell 10.8 ct.+ rough to HB Group for price based on polished outcome. De Beers 2Q production -54% to 3.5M cts., sales -96% to $56M, 1H prices -21% to $119/ct. Alrosa production -42% to 5.7M cts. Sotheby’s HK sells $56.5M (80% by lot), including heart, 5.04 ct., fancy vivid blue, VS2 diamond for $10.6M ($2.1M/ct.). Christie’s achieves $40M (82% by lot), with marquise, 12.11 ct., fancy intense blue going for $16M ($1.3M/ct.). Richemont FY1Q revenue -47% to $2.3B.

Amipi Rapnet Tradewire
Weekly Monthly Y2Y
0.30 ct 0.30% 0.86% 0.38%
0.50 ct 1.62% 2.91% -2.93%
1.00 ct 0.62% 1.89% -7.47%
3.00 ct -0.09% -0.97% -9.20%
RAPI Yearly Graph
Trade Wire 600X160 April 2018
Market Reports
United States: Wholesalers focused on rounds and ovals in 1 to 1.25 ct., F-I, VS-SI categories for bridal market...
Belgium: Dealers concentrating on online trading and marketing...
Israel: Supply from overseas limited due to travel and shipping restrictions...
India: Rough sector quiet, with manufacturers sourcing select goods at online auctions to fill specific needs...
Hong Kong: Jewelry retail at a standstill without tourists to boost sales...
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Webinar: Can the Industry Deal (Again) with Covid-19?
WITH Avi Krawitz

Having completed a challenging first half of the year, the diamond industry continues to contend with the coronavirus crisis and adapt to the new economic and social realities that have emerged. In our quarterly webinar, Rapaport Senior Analyst Avi Krawitz will assess the state of the diamond market and present some opportunities that may arise in the second half of 2020.

Petra’s Tough Sales Pitch
WITH Avi Krawitz

The July issue of the Rapaport Research Report assesses Petra Diamonds’ prospects as it embarks on a survival strategy that includes putting the company up for sale. Since showcasing its mines alone might not be enough for Petra to woo investors in the Covid-19 environment, we highlight the need for miners and others throughout the supply chain to emphasize their roles as innovators.

Independent Jewelers See Sales Grow in June
Luxury Brands Turn to Eager Chinese Shoppers
Is the End in Sight for Sights?
India’s Gem, Jewelry Exports in Record Fall
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Covid-19 Ravages De Beers Sales
Production also slides amid mine shutdowns.
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12ct. Blue Diamond Smashes Estimate at Christie’s
Ring fetches $15.9 million at first live Magnificent Jewels auction since pandemic began.
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Israel’s Union Bank Sells Diamond Portfolio
Finance company Peninsula agrees to purchase loans worth around $91 million.
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Antwerp Cutter to Buy All Lucara’s Large Stones
Miner partners with HB Group, which will purchase diamonds over 10.8 carats.
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India Extends Deadline for Duty-Free Reimports
Companies that sent polished for grading during Covid-19 get extra three months to ship the goods back.
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Hawaiians, New Yorkers Buy Biggest Diamonds
Nationwide average for engagement rings is 0.92 carats, Shane Co. survey shows.
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Richemont Revenue Plunges as Stores Shut
Quarterly sales down 47% at Cartier, Van Cleef & Arpels and Buccellati.
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Hong Kong Slowdown Hits Chow Tai Fook
Sales in the municipality fell 69% in first fiscal quarter.
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Birks Sales Rise Pre-Pandemic
Revenue increased 12% in fiscal year ending March 28 as flagship stores reopened following renovations.
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Alrosa Sees Weakest Performance in Years
Rough proceeds down 91% in second quarter.
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Lenders Grant Waiver to Mountain Province
Banks agree to exempt miner from complying with certain terms of debt facility.
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Lucapa Revenue Plummets in Second Quarter
Rough-diamond sales drop 80% at company’s Lulo mine.
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Pink and Blue Hearts Score Big for Sotheby’s
Two rings go for combined $18.7 million.
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New Jewelry Group Aims for Greater Inclusion
New York-based designer Angely Martinez plans trade organization for industry members from the black, indigenous and people of color (BIPOC) community.
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GemFair to Launch Training Program in West Africa
De Beers project aims to enhance mining practices in Sierra Leone, Liberia, Guinea and the Ivory Coast.
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Anna Hu Jewels Sell at Christie’s Charity Auction
Necklace brings in $291,773 to support bereaved families of health-care workers.
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US Import Slump Continues in May
Polished shipments into the country drop 92%.
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Diamond Industry Stock Report

US retail stocks rose as the economy continued to reopen. Signet (+13%), Walmart (+7%) and Tiffany (+0.7%) all gained. Meanwhile, Hong Kong shares tumbled amid another coronavirus wave, with Luk Fook (-6%) and Chow Sang Sang (-1.4%) both losing ground. Miners also struggled due to weak rough demand, with Gem Diamonds (-7%), Mountain Province (-7%), Lucara (-6%) and Alrosa (-5%) falling.

Rapnet Trade Wire
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