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Rapaport TradeWire October 7, 2021
Oct 7, 2021 10:34 AM
By Rapaport
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| October 7, 2021 | | RAPAPORT MARKET COMMENT | | | | Trade optimistic for US holiday season, but buyers cautious due to high price levels. 1 ct. RAPI -0.5% in Sep. Polished inventory rising, with large volume of 0.30 to 0.50 ct. goods. Six-week backlog at GIA Mumbai lab. Rough market firm during sight week amid shortfall in De Beers supply. De Beers holds first GemFair auction of rough from Sierra Leone artisanal miners. India Aug. polished exports +69% to $2.1B, rough imports +143% to $1.2B. Far East wholesale trading quiet during Golden Week; Chinese luxury consumers focused on domestic buying due to Covid-19 travel restrictions. Rapaport resumes Dubai auctions, offering 55,000 cts. of polished diamonds at the Oct. 10-14 sale. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.26% | -1.86% | -6.34% | | 0.50 ct | -0.04% | -0.86% | -2.89% | | 1.00 ct | -0.02% | -0.29% | 14.58% | | 3.00 ct | 0.14% | 0.14% | 15.27% | | | | 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: Dealers expect market improvement ahead of holiday season... | | | | | Belgium: Suppliers struggling to source larger stones, especially in fancy shapes... | | | | | Israel: Steady US orders compensating for weak Chinese market... | | | | | India: Polished production at high capacity before Nov. 4 Diwali break as manufacturers plan for pre-Christmas sales... | | | | | Hong Kong: Large-scale diamond buyers reluctant to make purchases since goods are expensive... | | | | | | | Breakfast of Champions | | | | WITH RAPAPORT MAGAZINE | The state of the diamond industry, the lessons of the pandemic, and the need to end atrocities at Marange were among the topics at Rapaport’s Las Vegas events. Here is a summary of the group’s annual breakfast and Social Responsibility Conference, which took place at the JCK show in late August. | | | | | India Considers Its Future | | | | WITH AVI KRAWITZ | The world’s largest manufacturing center faces some unfamiliar challenges amid apparent supply and labor shortages, as our analysis from the September Rapaport Magazine highlights.
| | | | | WEEKLY NEWS | | | | | | Diamond Prices Soften in Slow September Trading | | Market sees record inventory buildup of 0.30 to 0.50 ct. goods. | | | | | RJC, Luxury Brands Launch Environmental Initiative | | Cartier and Kering will work with organization to create a sustainable industry. | | | | | Pandora Papers: The Diamond Connection | | Nirav Modi’s sister, Purvi, among figures named in the massive leak. | | | | | | | | | US Jewelry Sales Surge in September | | Category up 57% over 2019. | | | | | Deloitte: US Holiday Sales Set for Strong Growth | | Revenue for November-to-January period will climb by up to 9%, company predicts. | | | | | Titan Sales Rise as Indian Consumers Return | | Jewelry revenue up 78% year on year in latest quarter. | | | | | | | | | De Beers Looking at Greenland’s Marine Diamonds | | Miner commissions survey of the Arctic island’s deposits. | | | | | Mountain Province Parts Ways with CEO | | Stuart Brown reached “mutual decision” with company to leave after serving in position for three years. | | | | | De Beers Sells First Rough from GemFair Program | | Diamonds from artisanal miners on offer at recent auction. | | | | | | | | | US Diamond Imports Continue to Rise | | Inbound polished shipments more than double in July. | | | | | Belgium Trade Grows, but at Slower Pace | | Polished exports up 17% in August. | | | | | Diamonds Do Good Doles Out $100K in Grants | | Funds will go to at least five people in southern Africa. | | | | | Israel’s Exports Drop Amid Jewish Holidays | | Polished-diamond shipments fell 42% year on year in September. | | | | | Sotheby’s to Sell Egyptian Cinema Icon’s Diamonds | | Auction house will offer eight of Hind Rostom’s pieces at Geneva Magnificent Jewels. | | | | | India Polished Shipments Extend Recovery | | Exports gained 69% year on year in August. | | | | | GEM Awards Honor De Beers Executive | | Stephen Lussier will receive lifetime achievement prize. | | | | | | 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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