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Rapaport TradeWire September 3, 2020
Sep 3, 2020 11:10 AM
By Rapaport
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| September 3, 2020 | | RAPAPORT MARKET COMMENT |  | | Positive sentiment as the trade adapts to the Covid-19 selling environment. Polished prices firming due to shortages. 1 ct. RAPI +3.2% in Aug. Manufacturers seeing better profit margins after De Beers and Alrosa reduced rough prices. Polished production increasing but coronavirus restrictions still limiting Surat factories. Rough trading steady. Momentum likely to continue through October as retailers prepare holiday inventory. Signet Jewelers 2Q sales -35% to $888M, loss of $82M. Macy’s highlights strong jewelry category. Belgium July polished exports -35% to $580M, rough imports -30% to $376M. RapSpec A3 Diamond Specs changed to exclude faint fluorescence. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.42% | 5.25% | 13.31% | | 0.50 ct | 0.80% | 7.08% | 13.28% | | 1.00 ct | 1.02% | 3.63% | -0.82% | | 3.00 ct | 0.77% | 1.98% | -5.43% |  | | The RapNet Diamond Index (RAPI™) is the average asking price in hundred $/ct. of the 10 percent best priced diamonds, for each of the top 25 quality round diamonds (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better) offered for sale on RapNet - Rapaport Diamond Trading Network. | | | | Market Reports | | |  | United States: Bridal supporting the retail segment as jewelers start to plan inventory for holiday season... |  |  | Belgium: Polished shortages stimulating rough trading as manufacturers gradually raise production levels... | | |  | Israel: Prices firm, including for less popular goods such as those with medium blue fluorescence... | | |  | India: Momentum expected to continue until Diwali (November 14)... | | |  | Hong Kong: Demand from China driving activity, but limitations on delivery and foreign currency payments are making cross-border trade difficult for dealers... | | |  | | | Her style was her signature |  | | WITH Jewelry Connoisseur by Rapaport | Olivier Baroin, an expert in the jewelry of Suzanne Belperron, shares how he identifies and values the designer’s unsigned works. |  | | | WEEKLY NEWS | | industry | | | | Rising Polished Prices Boost Sentiment | | Indian manufacturers increase production to fill shortages. |  | | | Rough-Market Momentum Set to Continue | | Improved polished demand and limited supply herald two more months of recovery, dealers say. | | | | | GIA Considers Shutting Antwerp Lab | | Around 50 people could lose jobs, according to Belgian newspaper. | | | | | Hong Kong Show to Go Virtual | | Organizer calls off physical event, which will return in September 2021. | | | | | GemGenève Cancels 2020 Fair | | Travel restrictions and health precautions due to pandemic would have made holding exhibition difficult. | | | | | Lab-Grown Diamond Morphs from Yellow to Pink | | Stone underwent irradiation and annealing to change its color. | | | | | retail | | | | Signet Sales Better Than Expected | | E-commerce growth boosts performance in second fiscal quarter. | | | | | Jewelry Among ‘Best Performers’ for Macy’s | | Shift in spending from travel to luxury products has benefited business, company says. | | | | | Hong Kong Retail Continues to Slide in July | | Revenue from jewelry, watches and other valuable gifts down 54%. | | | | | Chow Sang Sang Turns Focus to China | | Jeweler will open over 40 stores on the mainland this year, while closing some in Hong Kong. | | | | | general | | | | Rio Tinto Kicks Off Penultimate Pink Tender | | Final sale will take place after Argyle mine closes at end of year. | | | | | Christie’s Online Diamond Sale Garners $1.5M | | Graff necklace featuring 20.21-carat, yellow-brown pear takes top spot. | | | | | Belgium Sees Trading Slump Ease | | Polished exports down 35% year on year in July. | | | | | Letšeng Mine Produces 233ct. Rough | | Gem Diamonds’ discovery follows recent unearthing of 442-carat stone. | | | | | Kim Pelletier to Head Get Diamonds Platform | | New CEO has experience at Polygon, De Beers and IGC. | | | | | Trans Atlantic Holds First Dubai Tender Since Feb. | | Nearly 100 companies traveled to the emirate to participate. | | | | | Malca-Amit Executive Joins Antwerp’s HB | | Manufacturer hires Boaz Lev as operations director and one of its managing partners. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global retail stocks continued to rebound as consumer sentiment improved amid hopes for a coronavirus vaccine. Walmart (+13%), Signet (+9%), Macy’s (+9%), Chow Tai Fook (+9%), Kering (+9%), Luk Fook (+7%) and Pandora (+7%) all gained. Miners had a mostly positive week, with Lucapa (+8%), Gem Diamonds (+6%) and Petra (+6%) climbing. Lucara (-10%) was the exception. | | | | | Contact Us |  |       | | © Copyright 2020 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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