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Rapaport TradeWire November 12, 2020

Nov 12, 2020 10:41 AM   By Rapaport
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Rapaport TradeWire
November 12, 2020
RAPAPORT MARKET COMMENT
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Sentiment improving as US consumers gain confidence following Biden election win. China strong with robust Singles’ Day sales. E-commerce driving growth as jewelers invest in multi-channel platforms and adjust to remote selling strategies. De Beers values 2019 diamond jewelry demand +0.7% at $79B; estimates 1H 2020 US sales -40%, China -45%, India -30%. Christie’s Geneva sells $37M (89% by lot). Sotheby’s brings in $52M, with 14.83 ct., fancy vivid purple-pink Spirit of the Rose diamond going for $26.6M ($1.8M/ct.). Alrosa 3Q profit -44% to $99M. Lucara finds 998ct. rough; HB Antwerp to polish stone. The Rapaport Group wishes all our friends a happy Diwali.

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RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct -0.33% -3.18% 8.34%
0.50 ct -0.30% -1.96% 16.08%
1.00 ct 0.11% 0.33% 2.56%
3.00 ct 1.28% 3.39% -0.32%
RAPI Yearly Graph
600X160 Static 20 Q3 B2 Cwatches Display Sell Timepiece Find Buyers
Market Reports
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United States: Bridal moving well; single-stone engagement rings and eternity bands driving the category...
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Belgium: European jewelers concerned about weak consumer confidence due to second coronavirus wave...
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Israel: Widening gap between top-quality and lesser categories as more inventory becomes available...
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India: Manufacturers finalizing orders and settling payments before next week’s Diwali break...
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Hong Kong: Signs of loosening cross-border restrictions, with move to create travel bubble with Singapore...
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19730 M20 Ep Rapaport Nl 1
A Chance to Rebuild the Diamond Industry
WITH Avi Krawitz

The changes that have taken effect during Covid-19 will likely reshape the way the diamond sector operates in the future. The November Rapaport Research Report looks at the strengths, weaknesses, opportunities and threats facing the trade at the end of a turbulent year.

Plumb Club Moves with the Times
WITH The Rapaport Diamond Podcast

The US-based alliance of jewelry suppliers has been inextricably linked to the JCK Las Vegas show since the club’s founding. The pandemic has forced the organization to help its members do business all year round, and not just at the annual fair, explains president Michael Lerche.

Stocking Up: Holiday 2020
WITH Jewelry Connoisseur by Rapaport

Bright colors, charms, and classic looks are the top orders this festive season as the coronavirus keeps retailers cautious, writes Rachael Taylor.

UPS AND DOWNS
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Angola Provides Tax Relief to Boost Industry
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Alrosa Finds Rare Diamonds at Zimbabwe Exploration Site
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Botswana President: Mining Sector to Shrink in 2020
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Sorry, Investors: There’s More Bad News About Malls
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Trade Wire 600X160 April 2018
WEEKLY NEWS
industry
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De Beers: Recovery to Extend ‘Well Beyond 2020’
Second wave of lockdowns putting strain on consumer spending, company says in annual Insight Report.
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Alrosa Gives Cautious 2021 Production Outlook
Miner aims to release accumulated inventories instead of raising output.
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$27M Pink Diamond Sets Record at Sotheby’s
Price is world’s highest for a stone of its color at auction.
retail
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US Online Spending Picks Up Post-Election
E-commerce sales reach $21.7 billion in first 10 days of holiday season, says Adobe.
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Jewelry Stands Out at Richemont
Cartier and Van Cleef & Arpels outperform rest of group in quarter ending September 30.
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How to Hold a Virtual Trunk Show
With live events off the table during the pandemic, industry experts offer advice on socially distanced ways to share your wares.
mining
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Lucara Finds 998ct. Diamond
Group sales down 9% in third quarter as miner pauses big-stone tenders.
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Alrosa Sales Continue Upward Trend
Diamond revenue rises 17% year on year to $310 million in October.
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De Beers to Stop Production at Botswana Mine
Company cites market conditions as it places Damtshaa on indefinite care and maintenance.
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Petra Launches Probe into Violence Claims
Security guards carried out deadly assaults against local artisanal miners, nonprofit alleges.
general
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Christie’s Sees Robust Demand at Geneva Auction
Graff ring with 1.05-carat, fancy-purplish-red diamond sells for record $2.8 million.
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Feng J Diamond Jewels to Lead Phillips Sale
Two pieces will fetch up to $5.8 million combined, auctioneer predicts.
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Sales Slump at Indian Manufacturer Asian Star
Quarterly revenue down 38% as pandemic continues to affect operations.
Gia Tw Banner Id100 11 June 20
FINANCE
Diamond Industry Stock Report
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Global retail shares rose following the US election and positive developments toward a Covid-19 vaccine. Richemont (+19%), Macy’s (+18%), Signet (+16%), LVMH (+11%), Kering (+10%) and Pandora (+9%) all gained. Miners also had a good week, with Anglo American (+15%), Alrosa (+6%), Lucara (+6%) and Rio Tinto (+5%) all climbing, though Lucapa (-9%) fell. 

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