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Rapaport TradeWire December 2, 2021
Dec 2, 2021 11:08 AM
By Rapaport
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| December 2, 2021 | | RAPAPORT MARKET COMMENT | | | | Sentiment upbeat after strong start to holiday season. Jewelry sales +78% over Thanksgiving weekend, Mastercard SpendingPulse reports. Overall e-commerce -1.4%, according to Adobe. Signet Jewelers 3Q revenue +18% to $1.5B, profit up tenfold to $93M. Jewelers with inventory enjoying record season. Dealers struggling to buy at current prices. 1 ct. RAPI +0.9% in Nov. China and Hong Kong improving ahead of Lunar New Year. Concern that Covid-19 Omicron strain will limit trading due to new travel restrictions. Rough market stable for now; manufacturers worried about shortages and tighter profit margins. India Oct. polished exports +45% to $2.6B, rough imports +2% to $1.4B. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.24% | 0.76% | -2.51% | | 0.50 ct | 0.04% | 0.56% | -0.03% | | 1.00 ct | 0.52% | 0.80% | 13.83% | | 3.00 ct | 3.84% | 5.02% | 16.04% | | | | 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 looking for inventory due to positive outlook... | | | | | Belgium: Good interest in round, 1 to 2 ct., F-H, VVS1-SI1 diamonds... | | | | | Israel: Buyers looking for goods from India but finding it difficult to meet their needs due to high prices... | | | | | India: Polished sector buoyant as manufacturers focus on US and Far East holiday orders... | | | | | Hong Kong: Mainland seeing strong performance ahead of Lunar New Year... | | | | | | | Behind De Beers’ Strategy | | | | WITH THE RAPAPORT DIAMOND PODCAST | The diamond industry’s shift toward digital is only going to intensify, says Neil Ventura, De Beers’ vice president of strategy and innovation. On the latest episode, he speaks with Rapaport’s Avi Krawitz about the mining giant’s approach and how the trade can embrace the developments. | | | | | WEEKLY NEWS | | | | | | Signet Ups Sales Outlook for Fifth Time | | Retailer predicts full-year growth of up to 43% after strong third quarter. | | | | | Jewelry Leads US Holiday Weekend Spending | | Category up 78% year on year, according to Mastercard SpendingPulse. | | | | | Black Friday Sees Rare Slowdown in Online Sales | | Total came to $8.9 billion, at lower end of predicted range and under 2020’s figure, Adobe says. | | | | | Cyber Monday Sales Fall Short of Forecasts | | Consumer buying down 1.4% year on year, reports Adobe. | | | | | Thanksgiving Weekend Spending Drops | | Consumers had already completed most of their shopping, NRF says. | | | | | Hong Kong Retail Reaches Pre-Pandemic Levels | | Sales of jewelry and other hard luxury up 23% in October. | | | | | Chow Tai Fook Invests in Diamond Marking Firm | | Jeweler buys minority stake in New Cutting Edge. | | | | | Luk Fook Revenue, Profit Bounce Back | | China expansion and Hong Kong and Macau recovery drive sales. | | | | | Hong Kong’s Tse Sui Luen Sees Sales Surge | | Revenue up 19% in first fiscal half. | | | | | | | | | De Beers Owner Plans Global Vaccine Mandate | | Anglo American intends to require jabs for anyone entering sites and offices. | | | | | Blue Diamond Earrings Fetch $7M at Hong Kong Sale | | Set was top lot at $64 million Christie’s Magnificent Jewels auction. | | | | | US Abandons Proposed Tariffs on Indian Goods | | Countries reach agreement over controversial digital tax. | | | | | Christie’s Rakes In Nearly $6M at London Sale | | 1.02-carat, fancy-vivid-blue diamond was best seller, fetching $534,800. | | | | | | | | | Endiama to Boost Production Ahead of IPO | | Angola mining company expects output of over 10 million carats and turnover of $1.4 billion in 2022. | | | | | Ekati Owner Sees Underwater Mining as Site’s Future | | New technology could expand deposit’s life by “decades,” Arctic Canadian Diamond Company says. | | | | | Diavik Faces Charges over Alleged Safety Violations | | Worker suffered injury when slab of rock fell on machine he was operating. | | | | | Output Slumps at Zimbabwe’s Murowa Mine | | Operations focused on lower-grade ore in third quarter. | | | | | | | | | US Polished Imports See Gentler Rise | | Shipments up 7% in September. | | | | | Belgium Diamond Shipments Increase Sharply | | Polished exports jumped 50% in October. | | | | | India’s Polished Exports Hit Four-Year High | | Figure rose 45% year on year in October. | | | | | Plumb Club Adds New Category to Member Roster | | Gemological Science International is first service organization to participate in group. | | | | | | 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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