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Rapaport TradeWire September 30, 2021

Sep 30, 2021 11:31 AM   By Rapaport
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September 30, 2021
RAPAPORT MARKET COMMENT
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Diamond market cautious after slow Sep. trading. Some softening in 0.30 to 0.70 ct. goods; 1 ct. and larger firm. US-focused dealers upbeat for 4Q holiday season as jewelry sales maintain momentum. US consumer confidence down following end of Covid-19 relief money and resurgence of Delta variant. China Oct. 1 Golden Week begins amid concerns about economic slowdown and government crackdown on tech wealth. Chow Tai Fook plans 2,000-store international expansion by 2025. Cutters operating at high capacity ahead of Diwali break. GIA continues to see five-week backlog at Mumbai lab. Rough market uncertain ahead of next week’s De Beers sight as prices on secondary market weaken.

RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct
-0.66%
-1.86%
-6.14%
0.50 ct
-0.25%
-0.95%
-2.39%
1.00 ct
-0.08%
-0.58%
14.93%
3.00 ct
-0.27%
0.03%
15.41%
RAPI Yearly Graph
Market Reports
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United States: Jewelers anticipating strong November-December engagement season due to pent-up wedding demand...
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Belgium: Dealers expect activity to pick up in coming weeks before India’s Diwali break...
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Israel: Good orders for 1.50 to 2 ct., G-J, VS-SI diamonds...
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India: Manufacturers submitting large volume of polished for grading...
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Hong Kong: Very low expectations for Golden Week retail sales as tourist traffic remains limited due to Chinese border and travel restrictions...
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Why Lab-Grown Cutters Struggle to Find Rough
WITH JOSHUA FREEDMAN

Many traditional diamond manufacturers want to get their hands on synthetic material, but contrary to popular belief, consistent supply is hard to obtain.

UPS AND DOWNS
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WEEKLY NEWS
industry
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Diamond Verification Program Broadens Scope
Natural Diamond Council’s Assure project will test how well instruments can detect synthetics in mounted jewelry.
Diamond Foundry Plant Aims for 10M Carats a Year
Lab-grown brand to open solar-powered production center in Spain.
New QR Code Solution Tackles Diamond Traceability
ITraceiT claims to be able to record, store and display all processes performed on any gemstone.
retail
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Chow Tai Fook to Open More Than 2,000 New Stores
Jeweler plans to penetrate lower-tier cities in mainland China.
Pandora to Woo Gen Z-ers for Revenue Boost
Company forecasts annual sales growth of up to 8% through 2023.
Government Stimulus Drives Hong Kong Retail Sales
Revenue from hard-luxury sector up 28% in August.
mining
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Mountain Province Sees Buoyant Rough Sales
Continued solid demand has enabled miner to repay short-term debt ahead of schedule.
Rough Prices Rise at Grib Antwerp Auction
Larger yellow diamonds and goods under 0.75 carats see highest increases.
general
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Swiss Watches Keep Pace with Pre-Pandemic Levels
August shipments down just 0.4% from 2019.
RJC Appoints Strategic Adviser
Brad Brooks-Rubin will focus on deepening connections between international policy makers and the organization’s members.
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