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Rapaport TradeWire November 25, 2021
Nov 28, 2021 7:42 AM
By Rapaport
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| November 25, 2021 | | RAPAPORT MARKET COMMENT | | | | Sentiment positive as holiday sales gain momentum. Consumers continue to focus on meaningful gifting. Travel spending gradually returning. Manufacturers raising production after Diwali break amid shortages of better-quality RapSpec A3+ diamonds above 1 ct. De Beers Nov. sight -7% to $430M. Rio Tinto takes full ownership of Diavik mine. Chow Tai Fook 1H revenue +79% to $5.7B, profit +60% to $470M. Birks Group 1H revenue +48% to $67M, profit of $791K vs. loss of $2M. Indian government to require GJEPC membership for rough imports and exports. The Rapaport Group wishes all our friends a happy Thanksgiving and a successful holiday season. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.22% | 0.64% | -2.48% | | 0.50 ct | 0.44% | 0.25% | -0.68% | | 1.00 ct | 0.28% | 0.36% | 13.54% | | 3.00 ct | 0.49% | 1.64% | 12.76% | | | | 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: Steady bridal sales as America anticipates 2022 wedding boom... | | | | | Belgium: Dealers struggling to buy at desired prices... | | | | | Israel: Holiday buying strong compared with past two years, but finding the right inventory is difficult... | | | | | India: Some shortages evident due to Diwali production lull and seasonal demand... | | | | | Hong Kong: Local retail positive amid economic recovery and improvement in Covid-19 situation... | | | | | | | Webinar: Changes, Challenges and Opportunities | | | | WITH AVI KRAWITZ | Strong retail sales are supporting industry sentiment. However, rising midstream inventory levels and longer-term changes in the market are forcing companies to stay on their toes. Rapaport Senior Analyst Avi Krawitz explores the issues in the latest Diamond Trends Webinar. | | | | | The secrets of spinel | | | | WITH JEWELRY CONNOISSEUR BY RAPAPORT | Often mistaken for ruby or sapphire in the past, this bright, versatile stone comes in a swath of colors and has collectors paying a premium to get their hands on quality goods, writes Diana Jarrett. | | | | | WEEKLY NEWS | | | | | | Alrosa Shifting to Tailored Rough Contracts | | Russian miner releases plans for De Beers-style system. | | | | | India: Traders Must Join GJEPC to Import Rough | | Government aims to remove itself from Kimberley Process oversight procedures. | | | | | Colored Diamonds Set to Sparkle at Sotheby’s | | 6.11-carat, fancy-intense-blue stone expected to fetch up to $6.5 million at New York auction. | | | | | | | | | Chow Tai Fook Boosted by China Expansion | | Company opened 624 new stores on mainland in first fiscal half. | | | | | Macy’s Ups Outlook as Jewelry Remains Solid | | Category was among department store’s best sellers during three months ending October 30. | | | | | Birks Sales, Profit Back on Track | | Reopening of store network drove 48% increase in half-year revenue. | | | | | | | | | De Beers Sales Slow Amid Diwali Closures | | Proceeds fall 7% at November cycle. | | | | | Rio Tinto Takes Full Ownership of Diavik | | Deal follows 19-month battle with former joint-venture partner Dominion. | | | | | Lucara Outlook Strong Amid ‘Healthy’ Market | | Company expects revenue of up to $215 million in 2022. | | | | | Arctic Canadian Diamond Company Names CEO | | Rory Moore will assume role permanently after serving as interim head since February. | | | | | BlueRock Cleared to Restart Mining | | Kareevlei site suffered weeklong closure due to possible safety breach. | | | | | | | | | Russia, Belgium Sign Deal on Digital Export Certs | | Countries will share data electronically alongside use of paper Kimberley Process documents. | | | | | Phillips to Sell Record Emerald Collection | | 45 pieces to go under hammer in Hong Kong. | | | | | Sarine Wins Lawsuit Against Indian Manufacturer | | Judge issues injunction preventing Rudra Diam from using pirated versions of company’s software. | | | | | Sapphires Star in Bonhams New York Sale | | Bulgari ring expected to fetch up to $800,000. | | | | | Swiss Watch Exports Reach Seven-Year High | | Shipments total $2.29 billion in October. | | | | | | 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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