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Rapaport TradeWire June 17, 2021
Jun 17, 2021 10:28 AM
By Rapaport
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| June 17, 2021 | | RAPAPORT MARKET COMMENT |  | | Positive sentiment as demand outpaces supply. US retail upbeat; May jewelry sales +203% year on year and +45% vs. May 2019, says Mastercard. Rising expectations for 2H but concern that inflation surge will curb consumer spending. Some jewelers delaying inventory replacement until more polished becomes available. Suppliers’ polished prices firm amid escalating rough costs and anticipated Alrosa price hike. Mountain Province 1Q prices +18%. Manufacturing increasing as India Covid-19 cases drop; worker absenteeism remains a challenge. GIA backlog still over 30 days. India polished exports +131% to $2B, rough imports +601% to $1.3B. Botswana’s Jwaneng mine yields 1,098 ct. diamond. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.22% | 1.28% | 9.54% | | 0.50 ct | 0.20% | 1.32% | 15.88% | | 1.00 ct | 0.24% | 2.41% | 20.92% | | 3.00 ct | -0.17% | 2.09% | 16.47% |  | | 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: Retailers picky and looking for better goods to display in their stores — no fluorescence, no brown, green, milky (BGM)... |  |  | Belgium: Better profit in polished trading than rough manufacturing... | | |  | Israel: Shortages enabling suppliers to sell old inventory of less desirable goods such as those with fluorescence and black centers... | | |  | India: Cutters struggling to replace sold items as rough prices remain high... | | |  | Hong Kong: Local Hong Kong retail sales improving as coronavirus infection rate drops... | | |  | | | Opening Up About Lab-Grown |  | | WITH The Rapaport Research Report | As synthetic diamonds gain mainstream appeal, the debate over how the sector will evolve is back in the spotlight. The June edition of the Rapaport Research Report examines the future of the lab-grown market, how synthetics will affect the value of natural diamonds, and whether the former are, in fact, more sustainable. |  | | | How Two Crises Shaped the Diamond Trade |  | | WITH Avi Krawitz | The 2008 economic crash left the diamond-financing sector cautious, but the effects of the coronavirus have restored some balance. This analysis from the June issue of Rapaport Magazine — the second in a series of articles on diamond financing — explores recent changes in the industry’s inventory situation and its attitude toward credit. |  | | | WEEKLY NEWS | | industry | | | | De Beers Unit Finds 1,098ct. Diamond | | Discovery at Jwaneng could be third-largest gem-quality rough stone in history, Debswana says. |  | | | Trade Centers Confident of JCK Attendance | | Israel and India organizing pavilions; travel rules still uncertain. | | | | | retail | | | | US Jewelry Revenues Surge in May | | Sales up 203% year on year and 45% higher than in same period of 2019. | | | | | NRF Raises Forecast for 2021 US Retail Sales | | Spending will increase by up to 13.5%, federation says. | | | | | China to Drive Hard Luxury’s Rebound | | McKinsey predicts steady expansion of jewelry and watch sectors through 2025. | | | | | US Retail Sales Slip in May | | Figure down 1.3% month on month amid supply-chain constraints. | | | | | Chow Tai Fook Becomes CIBJO Member | | Hong Kong jeweler believes international collaboration will help industry grow. | | | | | Jeweler Alex and Ani Files for Chapter 11 | | Company owes nearly $157 million, court filings show. | | | | | Michael Hill Chair Steps Down | | Emma Hill has worked for the Australia-based jeweler since age 13. | | | | | general | | | | India’s Polished Exports See Further Rise | | Shipments up 131% year on year in May. | | | | | Swiss Watch Exports Sluggish in May | | Shipments have not fully recovered from 2020’s drop. | | | | | Netflix Takes a Crack at Diamond Ice Road | | Film starring Liam Neeson and Laurence Fishburne centers around daring mission to rescue trapped mine workers. | | | | | Mountain Province Prices Jump 18% | | Miner notes strong rough demand in second quarter. | | | | | New Synthetics Facility to Open in Israel | | US-based Green Rocks pledges to operate site in accordance with latest sustainability standard. | | | | | Jewelers Mutual Snaps Up E-Commerce Group | | Gem + Jewel aggregates products from independent jewelers and helps them sell to the public. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | US retail stocks slipped amid investor anxiety over sluggish May sales. Macy’s (-5%) and Walmart (-1.4%) fell. Signet (+24%) soared as first-quarter earnings beat expectations. Hong Kong and European equities were positive as the regions’ economies reopened. Chow Tai Fook (+6%), LVMH (+4%), Luk Fook (+2%) and Kering (+2%) all gained. Miners saw mixed results: Lucara (+8%) and Mountain Province (+4%) rose, while Anglo American (-7%), Lucapa (-6%) and Gem Diamonds (-2%) 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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