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Rapaport TradeWire November 5, 2020

Nov 5, 2020 10:47 AM   By Rapaport
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Rapnet 600X160 Gemblog
Rapaport TradeWire
November 5, 2020
RAPAPORT MARKET COMMENT
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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.

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RAPNET DIAMOND INDEX (RAPI)
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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%
RAPI Yearly Graph
600X160 Static 20 Q3 B2 Cwatches Display Sell Timepiece Find Buyers
Market Reports
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United States: Dealers concerned about potential impact of voting results on Manhattan businesses...
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Belgium: European jewelers and luxury houses have reduced their holiday expectations...
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Israel: Business as usual for sought-after items, but trading in bread-and-butter categories is down...
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India: Wedding season stimulating local jewelry retail sector, but gold more dominant than diamonds...
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Hong Kong: Stores struggling due to lack of Chinese tourist shoppers and weak domestic sentiment...
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Trade Wire 600X160 April 2018
UPS AND DOWNS
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Diamond Federation Optimistic for Holiday Season
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Americans Eager to Shop Even as Pandemic Lingers
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Stores Boarding Up in Case of Election Unrest
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Botswana Rough-Diamond Exports Down 66% in 3Q
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WEEKLY NEWS
industry
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Diamond Market Cautious Ahead of Holidays
Rise in Covid-19 cases and election uncertainty dent sentiment in October.
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Louis Vuitton Buys 549ct. Rough from Lucara
Luxury retailer partners with HB Antwerp to craft stone into customized pieces for clients.
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India Trade Lobbies for Lower Taxes
Annual exports could double under right conditions, GJEPC argues.
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New Group Supports Black People in Jewelry Trade
Coalition will help provide members with resources they need to advance in the industry.
retail
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Signet to Co-Brand Jared and James Allen
Redesign will encompass about 40% of the brick-and-mortar brand’s locations.
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Hong Kong Retail Sees Signs of Recovery
Stabilization of pandemic in region and easing of rules will help revive consumer sentiment, government says.
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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.
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Pandora Expects Hit from Second Lockdowns
Danish jeweler cautious after revenue improvement in third quarter.
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Ex-Tiffany Exec Joins Watches of Switzerland
Kelly Yoch will become director of client relations, a newly created position.
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Titan Hopeful for Diwali as Sales Recover
Indian jeweler returns to profit amid reopening of stores following lockdown.
mining
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Rio Tinto Ends Mining at Argyle
Company will continue to process ore until end of December.
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De Beers Lets Sightholders Defer Smaller Goods
Category is weak due to reduced manufacturing capacity in India.
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Dominion Fights Rio Tinto Diamond Sale
Court battle continues over companies’ joint venture.
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Mountain Province Sees Drop in Quarterly Sales
Average price down from previous year amid weaker rough demand.
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Higher-Grade Ore Lifts Lucapa Production
Sales jump 74% to $11.6 million in the third quarter.
general
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Consumer Awareness of Synthetics Soars
Survey finds 80% of shoppers have heard about lab-grown.
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Hong Kong Polished Imports Slide
Shipments down 32% in third quarter; rate of decline eases.
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Yoram Dvash to Chair Israel Diamond Institute
WFDB president succeeds Boaz Moldawsky.
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Belgium Diamond Veteran Jacques Korn Dies
Korn was president of the Antwerp Diamond Bourse until earlier this year.
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Jewelers Mutual Buys Wexler Insurance Agency
Acquisition will let both firms offer greater range of risk-management services.
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Israel’s Sarine to Open Dubai Service Center
Company partners with Trigem following UAE peace deal.
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FINANCE
Diamond Industry Stock Report
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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.

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