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Rapaport TradeWire April 29, 2021
Apr 29, 2021 11:17 AM
By Rapaport
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| April 29, 2021 | | RAPAPORT MARKET COMMENT |  | | Diamond markets mixed. US and China recovery fueling optimism, but uncertainty remains due to worrying coronavirus situation in India. Europe relatively weak. Supply volatility expected in short term. Polished inventory levels declining as manufacturers reduce capacity and GIA backlog rises. Cutters focused on 1 ct. polished and larger. Small De Beers sight projected for next week. US consumer confidence +12% to pre-pandemic levels in April, reports Conference Board. National Retail Federation predicts record Mother’s Day jewelry sales. China 1Q polished imports +393% to $722M. WFDB launches fundraising campaign to help India with Covid-19 battle: campaign.wfdb.com. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.39% | -0.57% | 6.06% | | 0.50 ct | -0.02% | -0.73% | 15.52% | | 1.00 ct | 1.82% | 2.45% | 18.40% | | 3.00 ct | 1.48% | 2.83% | 10.14% |  | | 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: Melee strengthening in G-I, VS-SI ranges that are popular in wedding bands and fashion-jewelry pavé settings... |  |  | Belgium: European market still cautious due to Covid-19... | | |  | Israel: Focus on US; more dealers traveling to meet customers... | | |  | India: Supply shortages emerging, especially in -2 small goods... | | |  | Hong Kong: Mainland China stores seasonally quiet after strong start to year... | | |  | | | Volatility Looms Amid India’s Covid-19 Crisis |  | | WITH Avi Krawitz | The surge of new coronavirus cases in the world’s main diamond-manufacturing hub will likely result in polished shortages as demand continues to rise. We assess prospects for the diamond market for the remainder of 2021 as India copes with the outbreak. |  | | | WEEKLY NEWS | | industry | | | | China’s Diamond Trade Roars Back | | Polished imports rise almost fivefold in first quarter. |  | | | Christie’s to Auction $12M Pink Diamond Ring | | 15.23-carat piece will feature in May 12 Geneva Magnificent Jewels sale. | | | | | Diamond Trade Launches India Fundraising Drive | | Campaigns aim to donate medical supplies and other essentials. | | | | | Diamond Foundry Value Hits $1.8B After Fundraising | | Investment will help lab-grown maker lift annual production to 5 million carats. | | | | | retail | | | | ‘Record’ Jewelry Outlay to Drive Mother’s Day Sales | | Category to account for 59% of total growth, National Retail Federation predicts. | | | | | Banks Tie Pandora Loan to Sustainability Targets | | Borrowing costs for $1.15 billion facility depend on jeweler’s environmental performance. | | | | | Jewelry-Rental Club Raises $26M to Fund Expansion | | Investment will help Vivrelle broaden its product range. | | | | | mining | | | | De Beers Weighs Taking Jwaneng Underground | | Project has potential to extend mine life “significantly” beyond 2035. | | | | | Firestone Sells Second Batch of Rough Inventory | | Run-of-mine goods fetch strongest average price since June 2018. | | | | | Gemfields Sales Spike at Emerald Auction | | Revenue hits highest level in five years amid strong demand after Covid-19 pause. | | | | | general | | | | Swiss Watch Exports Surge in March | | Figures benefited from comparison with onset of Covid-19 crisis in 2020. | | | | | RJC Launches Task Force to Tackle UN Goals | | Group will help benchmark industry’s progress implementing 17 sustainable development objectives. | | | | | New Fund to Help Jewelers Study Sustainability | | Money will enable members of Women’s Jewelry Association to take relevant courses at New York University. | | | | | eBay Adds Extra Trust Element for Luxury Watches | | Escrow service gives shoppers more peace of mind when buying high-end timepieces. | | | | | Bulgari Ring Leads Strong Bonhams Sale | | Piece fetches $835,233, more than double its upper estimate, at London auction. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global retail stocks bounced back as major economies continued to reopen and consumers returned. Signet (+4%), Macy’s (+3%), Kering (+2%) and Chow Sang Sang (+2%) all gained. Luk Fook (-5%) was the exception. Mining shares were mixed. Lucara (+9%), Mountain Province (+4%), Anglo American (+4%) and Rio Tinto (+4%) rose, while Gem Diamonds (-7%), Petra (-4%) and Alrosa (-2%) lost steam. | | | | | 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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