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Rapaport TradeWire November 5, 2020
Nov 5, 2020 10:47 AM
By Rapaport
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| November 5, 2020 | | RAPAPORT MARKET COMMENT |  | | High voter turnout as US election reflects divided country. Rising expectations for holidays despite American election uncertainty and second round of Covid-19 lockdowns. Consumer spending expected to be in line with last year. Jewelers begin seasonal promotions early, with emphasis on e-commerce. Polished prices stabilizing as buyers complete holiday orders. 1 ct. RAPI +1% in Oct. Rough trading steady during De Beers sight, but demand slower than last month. Smaller goods weak. Hong Kong 3Q polished imports -32% to $2.7B, polished exports -2% to $2.8B. Rio Tinto’s iconic Argyle mine ends production, having recovered 825 million carats in 37-year life. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -1.26% | -3.18% | 9.39% | | 0.50 ct | -0.95% | -1.30% | 16.95% | | 1.00 ct | -0.10% | 0.67% | 2.69% | | 3.00 ct | 0.35% | 2.00% | -1.49% |  | | 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: Dealers concerned about potential impact of voting results on Manhattan businesses... |  |  | Belgium: European jewelers and luxury houses have reduced their holiday expectations... | | |  | Israel: Business as usual for sought-after items, but trading in bread-and-butter categories is down... | | |  | India: Wedding season stimulating local jewelry retail sector, but gold more dominant than diamonds... | | |  | Hong Kong: Stores struggling due to lack of Chinese tourist shoppers and weak domestic sentiment... | | |  | | | WEEKLY NEWS | | industry | | | | Diamond Market Cautious Ahead of Holidays | | Rise in Covid-19 cases and election uncertainty dent sentiment in October. |  | | | Louis Vuitton Buys 549ct. Rough from Lucara | | Luxury retailer partners with HB Antwerp to craft stone into customized pieces for clients. | | | | | India Trade Lobbies for Lower Taxes | | Annual exports could double under right conditions, GJEPC argues. | | | | | New Group Supports Black People in Jewelry Trade | | Coalition will help provide members with resources they need to advance in the industry. | | | | | retail | | | | Signet to Co-Brand Jared and James Allen | | Redesign will encompass about 40% of the brick-and-mortar brand’s locations. | | | | | Hong Kong Retail Sees Signs of Recovery | | Stabilization of pandemic in region and easing of rules will help revive consumer sentiment, government says. | | | | | Chow Tai Fook Unveils In-House AI Grading Report | | New certificates will accompany diamonds weighing 0.30 carats or less under the T Mark traceability program. | | | | | Pandora Expects Hit from Second Lockdowns | | Danish jeweler cautious after revenue improvement in third quarter. | | | | | Ex-Tiffany Exec Joins Watches of Switzerland | | Kelly Yoch will become director of client relations, a newly created position. | | | | | Titan Hopeful for Diwali as Sales Recover | | Indian jeweler returns to profit amid reopening of stores following lockdown. | | | | | mining | | | | Rio Tinto Ends Mining at Argyle | | Company will continue to process ore until end of December. | | | | | De Beers Lets Sightholders Defer Smaller Goods | | Category is weak due to reduced manufacturing capacity in India. | | | | | Dominion Fights Rio Tinto Diamond Sale | | Court battle continues over companies’ joint venture. | | | | | Mountain Province Sees Drop in Quarterly Sales | | Average price down from previous year amid weaker rough demand. | | | | | Higher-Grade Ore Lifts Lucapa Production | | Sales jump 74% to $11.6 million in the third quarter. | | | | | general | | | | Consumer Awareness of Synthetics Soars | | Survey finds 80% of shoppers have heard about lab-grown. | | | | | Hong Kong Polished Imports Slide | | Shipments down 32% in third quarter; rate of decline eases. | | | | | Yoram Dvash to Chair Israel Diamond Institute | | WFDB president succeeds Boaz Moldawsky. | | | | | Belgium Diamond Veteran Jacques Korn Dies | | Korn was president of the Antwerp Diamond Bourse until earlier this year. | | | | | Jewelers Mutual Buys Wexler Insurance Agency | | Acquisition will let both firms offer greater range of risk-management services. | | | | | Israel’s Sarine to Open Dubai Service Center | | Company partners with Trigem following UAE peace deal. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global retail stocks performed strongly during a volatile US election week. Kering (+9%), Pandora (+8%), Richemont (+8%), LVMH (+8%), Macy’s (+3%) and Walmart all gained. Signet (-9%) lost ground. Mining shares were mixed, with Mountain Province (+11%) gaining following strong sales results, and Lucara (+9%) increasing after announcing the sale of a 549-carat diamond to Louis Vuitton. Petra (-10%) and Lucapa (-5%) both fell. | | | | | 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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