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Rapaport TradeWire July 15, 2021

Jul 15, 2021 10:40 AM   By Rapaport
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July 15, 2021
RAPAPORT MARKET COMMENT
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CAUTION: Rough prices surging out of control with some secondary market premiums over 10%. No assurance that polished prices will follow rough price increases. Manufacturing profit margins under pressure as De Beers raises prices 5% at July sight. Rough prices have increased an estimated 20% in 2021 with 1-carat polished only up 11%. Polished trading steady. US and Chinese demand supporting the market. Inventory rising for goods below 1 ct., but shortages remain for select items. De Beers and Diacore buy 39.34 ct. blue rough from Petra Diamonds for $40M ($1M/ct.). Private bidder pays $12.3M ($121,326/ct.) in cryptocurrency for pear, 101.38 ct., D, FL diamond at Sotheby’s.

RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct
-0.06%
0.47%
8.74%
0.50 ct
1.17%
2.15%
15.89%
1.00 ct
2.36%
3.14%
23.11%
3.00 ct
0.08%
0.56%
17.85%
RAPI Yearly Graph
Market Reports
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United States: Larger wholesalers and dealers filling orders and seeing strong sell-through rate on memo...
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Belgium: Fancies selling well; steady demand from European jewelers...
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Israel: Prices firm amid supply shortages, solid demand and high rough costs...
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India: Surat production at estimated 80%...
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Hong Kong: Chinese investment demand focused on gold rather than diamonds...
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Sustainable Growth
WITH MARTIN RAPAPORT

The diamond industry has come out of the Covid-19 pandemic much better than expected. In the second in a series of articles on the recovery, Rapaport Chairman Martin Rapaport notes that US fiscal policy and Chinese jewelry demand are boosting the market for now, but inflation and other complications are on the horizon.

A Market in Overdrive
WITH THE RAPAPORT DIAMOND PODCAST

In episode 46, the editorial team reflects on the rebound in the diamond trade. The lively discussion also draws lessons from the major jewelers in the US and China, explores controversies at the latest Kimberley Process meeting, and identifies new strategies in the Natural Diamond Council’s upcoming campaign.

Rough Bubble Brewing
WITH AVI KRAWITZ

With De Beers raising prices at its latest sight, is the rough sector overheating? In this week’s “Field Notes” column, Rapaport Senior Analyst Avi Krawitz warns it might be.

UPS AND DOWNS
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WEEKLY NEWS
industry
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De Beers Raises Prices Yet Again
Increases of 4% to 5% at July sight come amid continued strong rough demand.
Alrosa Sales Strengthen Amid Price Rise
June revenues of $410 million were highest in five months.
101ct. Diamond Goes for $12M in Cryptocurrency
The Key 10138 nabs highest price for any jewel or gemstone purchased with digital coinage.
Petra Sells Blue Diamond to De Beers for $40M
Manufacturer Diacore partners on purchase of 39.34-carat stone.
Argyle Pink Breaks Records at Public Tender
2-carat stone fetches $1.6 million at sale organized by fintech startup Yourdiamonds.com.
India Aims to Revitalize Domestic Gold Demand
GJEPC partners with World Gold Council to promote the metal among young consumers.
retail
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US Jewelry Sales Swell in June
Revenues up 59% from 2019 as economy continues to reopen, Mastercard says.
Chow Tai Fook Sales Rise Across Greater China
Strong mainland demand and improvements in Hong Kong boost quarterly figures.
Pandemic Positively Impacted Jewelry Sales: Survey
Some 30% of consumers purchased more than usual due to Covid-19, The Plumb Club found.
Mayors Owner Aims to Conquer US Market
Watches of Switzerland sets out five-year plan for global expansion.
mining
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De Beers Mulls Sale of Botswana Mine
Company put Damtshaa deposit on care and maintenance in November amid challenging market.
Ellendale Owner Discovers Hidden Yellow Diamonds
India Bore believes there are “millions” of gem-quality stones in a buried drainage system.
Alrosa Resumes Operations at Zarnitsa Mine
Company suspended production at the site in May 2020 because of slow demand.
Lucara Filled with ‘Joy’ at Recovery of 63ct. Pink
High-value section of Karowe yields four colored diamonds in quick succession.
Mountain Province Production Increases
Miner on track to achieve full-year forecast following second-quarter rise.
general
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Manufacturer HB Sets Up Antwerp Academy
Educational center will train current and prospective members of the trade.
Israel’s Diamond Trade Continues Recovery
Polished exports up 75% year on year in June.
Christie’s Paris Auction Yields $8M
Art Deco aquamarine necklace by Jean Fouquet fetches $1.2 million, more than double its high estimate.
Bergio Buys E-Commerce Company for $3M
Las Vegas-based jeweler aims to strengthen position in online retail.
China’s Diamond Imports Surge
Recovery from pandemic and shift to consumption economy drive polished demand.
FINANCE
Diamond Industry Stock Report
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US and European retail stocks gained as those regions’ economies continued to reopen. Macy’s (+5%), Richemont (+5%), Kering (+5%), LVMH (+5%) and Walmart (+1%) all increased. Signet (-4%) was the exception. Hong Kong shares wobbled after China’s economic data missed expectations: Chow Tai Fook (-7%), Luk Fook (-4%) and Chow Sang Sang (-2%) fell. Mining had a good week amid strong rough demand, with rises for Petra Diamonds (+10%), Alrosa (+6%), Rio Tinto (+4%), Lucara (+3%), and De Beers owner Anglo American (+3%).

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