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Rapaport TradeWire June 3, 2021

Jun 3, 2021 10:50 AM   By Rapaport
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Rapaport TradeWire
June 3, 2021

Supply shortages driving uptrend in prices. 1 ct. RAPI +0.8% in May. Inventory declining; number of 0.30 to 0.50 ct., RapSpec A3+ stones on RapNet -23% since April 1. Large US and Chinese retailers stimulating demand. Scarcities and rising prices making it hard for dealers to replenish polished goods. Major suppliers with inventory and efficient online systems are selling at strong premiums compared to smaller firms with limited e-commerce platforms. Rough trading robust ahead of next week’s De Beers sight. Items on secondary market achieving high profits as small-scale manufacturers struggle to source rough. Covid-19 outbreak causing mining disruptions in Canada.

Trade Wire 600X160 April 2018
Weekly Monthly Y2Y
0.30 ct 0.20% 0.90% 8.32%
0.50 ct 0.40% 1.31% 15.58%
1.00 ct 0.28% 0.87% 19.06%
3.00 ct -0.33% 1.51% 14.07%
RAPI Yearly Graph
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Market Reports
United States: High sell-through rate on memo calls...
Belgium: Selling mainly taking place online since international buyers are still subject to travel restrictions...
Israel: Dealers making money off inventory they bought in April-May but finding it hard to replace goods they’ve sold.
India: Polished scarcities driving robust rough trading...
Hong Kong: Concerns that more Chinese buyers are going directly to Indian suppliers and cutting out Hong Kong dealers...
Tradewire Banner Hr Final
The personal touch
WITH Jewelry Connoisseur by Rapaport

Catering to a customer is important in the jewelry industry, but building a relationship is what will bring people back to your store, writes Leah Meirovich.

Diamond Shortages Driving ‘Crazy’ Rough Prices
WITH Joshua Freedman

India is experiencing a scarcity of diamonds, as rough supply has dropped and polished goods remain stuck at the Gemological Institute of America (GIA).

April’s Top-Selling Jewelry Brands and Styles
Jewelers Craft Sophisticated Pieces Inspired by Art
Zimbabwe Predicts Jump in Diamond Production
Diamonds Seized in Surat for Wrong Disclosure of Weight
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Steady Demand Lifts Diamond Prices
Sentiment positive in May amid upbeat jewelry sales in US and China.
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India’s Domestic Trade Pleads for Financial Help
Industry body calls for government support amid severe impact of lockdowns.
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US Suspends Jewelry Tariffs by Six Months
Fresh duties on Indian goods could still go into effect in November.
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Diamond Acquisition Pays Off for Israeli Lender
Financial institution Peninsula sees profit soar following takeover of Union Bank’s loan portfolio.
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Gem Lab IGI Pledges to Become Carbon-Neutral
Organization’s New York branch aims to reach goal by 2022.
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US Jewelry Demand Bounces Back
After the 2020 lockdowns, retailers are anticipating a busy summer.
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Hong Kong Cautious Amid Sluggish Sales
April retail revenue far below pre-pandemic levels as tourism remains frozen.
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Asian Star Full-Year Revenue Falls
Coronavirus lockdowns dent annual sales by 16%.
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Covid-19 Outbreak Interferes with Ekati Operations
Health authorities recommend mine workers enter quarantine after three positive cases.
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Diamcor to Overhaul Facilities at Mine
Company hopes to double processing volumes at Krone-Endora project in South Africa.
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China, US Drive Recovery in Swiss Watch Exports
Shipments return to pre-pandemic levels in April.
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Fancy-Color Group Expands Advisory Board
FCRF adds industry veteran Thomas Gelb.
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New Gem and Jewelry Show to Debut in US
HardRock Summit to take place this September in Denver, Colorado.
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Grib Taps Sarine’s Traceability Tech
Antwerp-based rough trader to provide source verification for its goods.
600X160 Rrr
Diamond Industry Stock Report

Global retail stocks gained amid investor optimism about the US economy. Richemont (+7%), Swatch (+5%), Chow Sang Sang (+5%), Luk Fook (+4%), Signet (+4%) and Macy’s (+3%) all rose. Meanwhile, miners had a mixed week, with Mountain Province (-6%), Lucapa (-4%) and Lucara (-4%) falling, while Gem Diamonds (+8%), Alrosa (+6%), Anglo American (+3%) and Rio Tinto (+2%) increased.

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