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Rapaport TradeWire February 18, 2021
Feb 18, 2021 11:08 AM
By Rapaport
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| February 18, 2021 | | RAPAPORT MARKET COMMENT |  | | Polished dealers optimistic. Positive momentum amid busy Valentine’s Day in US and initial reports of robust Chinese New Year season. Asian market shut for lunar festival. E-commerce driving growth; online accounting for nearly 25% of total retail in China. Kering 2020 jewelry sales weak in Europe, strong in Asia. Brands gaining market share in India, with Titan Company FY3Q sales +17% to $1.1B, profit +12% to $73M. Rough trading stable as cutters maintain production levels. Petra Diamonds FY1H revenue -8% to $178M, profit of $2.7M vs. loss of $10.2M a year earlier. India Jan. polished exports +9% to $1.8B, rough imports +65% to $1.3B. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.19% | 0.53% | -1.72% | | 0.50 ct | -0.05% | -0.40% | 9.79% | | 1.00 ct | 0.01% | -0.07% | 6.35% | | 3.00 ct | -0.57% | -1.17% | 6.07% |  | | 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: Strong engagement ring sales during Valentine’s Day... |  |  | Belgium: Favorable supply-demand balance fueling confidence... | | |  | Israel: Israel Diamond Exchange (IDE) lobbying to become a free-trade zone... | | |  | India: Suppliers concentrating on American orders as China remains quiet during post-holiday period... | | |  | Hong Kong: More than half of China’s 2021 retail revenue will come from online purchasing, eMarketer predicts... | | |  | | | The Impact of Technology |  | | WITH The Rapaport Diamond Podcast | The fifth installment in Rapaport’s technology series features four companies making an impact through new, tech-driven features. Their executives explain how innovation is empowering growth. |  | | | How to Operate as an Online-Only Store |  | | WITH Esther Fortunoff | As e-commerce gains momentum, jeweler Esther Fortunoff explains the pluses and pitfalls of ditching brick-and-mortar. |  | | | WEEKLY NEWS | | industry | | | | Dubai Virus Surge Creates Snag for Rough Tenders | | The success of the emirate’s diamond market depends on whether Indian buyers continue to make the journey. |  | | | China’s Diamond Market on Path to Recovery | | How well has the prominent Asian country weathered the crises of the past year, and what are its prospects for growth? | | | | | Fancy-Color Price Index Sees Slight Decline | | Yellow diamonds relatively stable in the fourth quarter. | | | | | retail | | | | US Stimulus Boosts January Retail Sales | | Turnover rose 7% year on year, NRF says. | | | | | China Buoys Kering Jewelry Sales in 2020 | | Boucheron and Qeelin both performed well in the country, but lagged in Europe. | | | | | Titan Enjoys Diwali Boost to Sales and Profit | | Indian retailer’s revenue rises 17% in important third fiscal quarter. | | | | | mining | | | | Gahcho Kué Stays Shut as Covid-19 Cases Rise | | A total of 15 employees have been infected at De Beers’ and Mountain Province’s Canadian site. | | | | | Petra Returns to Profit as Debt Deal Nears | | Miner reports $2.7 million for first fiscal half following $10.2 million loss last year. | | | | | Angola Finds Partner for New Diamond Mine | | Endiama signed a joint-venture agreement with trade and investment group Gemcorp to develop Mulepe alluvial site. | | | | | Miners See Solid Rough Demand at January Tenders | | Alrosa, Diamcor and Lucapa report strong opening sales for 2021. | | | | | general | | | | South African Diamantaire Louis Lipchin Dies | | Industry stalwart is remembered for helping others in the trade. | | | | | The Importance of Circular Business Models | | Reusing waste products and materials can deliver ecological, societal and reputational benefits for the industry. | | | | | India Polished Trade Strengthens at Start of Year | | Exports up 9% in January; rough imports jump. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | US retail stocks fell as investors feared strong retail sales could cause Congress to delay passing a third stimulus bill. Macy’s (-4%) and Signet (-4%) both slipped. Walmart (+12%) bucked the trend as traders bet the retailer would report strong quarterly earnings. Chow Tai Fook (+6%), Chow Sang Sang (+3%) and Luk Fook (+3%) rose on the back of a recovery in China, while Kering (-3%) was hampered by disappointing 2020 figures. Mining shares saw mixed results. Lucara (+11%), Mountain Province (+9%), Rio Tinto (+9%) and Anglo American (+6%) all grew, but Lucapa (-7%), Alrosa (-6%) and Gem Diamonds (-6%) lost ground. | | | | | Contact Us |  |       | | © Copyright 2021 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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