News

Advanced Search

Rapaport TradeWire March 3, 2022

Mar 3, 2022 11:33 AM   By Rapaport
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
March 3, 2022
RAPAPORT MARKET COMMENT
image

US sanctions Russia, including Alrosa and its CEO. No sanctions on doing business with Alrosa but banking system shut down. Significant supply disruptions expected to impact market. Alrosa is the largest rough producer with 2021 sales of 45.5M cts. for $4B, profits of $834M. Diamond trading robust, but sentiment weakened by economic and geopolitical uncertainty. 1 ct. RAPI +5.6% in Feb. despite concerns that inflation, higher interest rates and Ukraine war will dampen global consumer confidence. Chow Tai Fook signs rough supply deal with Mountain Province. Sarine Technologies 2021 revenue +52% to $62M, profit of $17M. Rapaport to host webinar titled “Politics, Economics, and Diamond Prices: Dealing Diamonds Amid a New World Order” on Monday, March 7, at 12 p.m. EST. Register here

RAPNET DIAMOND INDEX (RAPI)
image
Weekly Monthly Y2Y
0.30 ct
-0.19%
5.33%
5.60%
0.50 ct
0.41%
6.50%
12.83%
1.00 ct
0.63%
5.33%
32.12%
3.00 ct
0.42%
5.81%
34.51%
RAPI Graph
Market Reports
image
United States: Some buyers shifting to fancy shapes above 1.50 ct., which offer better prices than rounds in same categories...
image
Belgium: Rough shortages driving premiums on secondary market...
image
Israel: Dealers focused on filling US demand, with strong memo orders...
image
India: Favorable appetite for rough amid decline in volume available...
image
Hong Kong: Jewelers relying on engagement ring demand, but sales down for suitable 0.80 to 1 ct., D-G, VS (3X, no fluorescence) diamonds...
image
Rapaport Trade Alert: Russian Sanctions

Measures that Western governments have taken following the invasion of Ukraine will have political and economic consequences for the diamond market.

Ukraine Crisis Leaves Diamond Industry Vulnerable
WITH AVI KRAWITZ

Several scenarios could play out for the diamond industry following Russia’s invasion of Ukraine. The trade is considering the impact it might have on supply, demand and goodwill. 

Webinar: The Sustainability Awakening
WITH RAPAPORT AND SARINE TECHNOLOGIES

Our panel of experts discusses the sustainability trend that has taken hold. They explore what it all means, how consumers are expressing their desire for responsibly sourced products, and what the diamond and jewelry sector should do to meet these growing expectations. 

UPS AND DOWNS
image
image
image
image
image
WEEKLY NEWS
industry
image
Russia Sanctions: Resources for the Trade
Information for the diamond industry following the invasion of Ukraine.
Sentiment Softens Despite Diamond Price Rise
1-carat RAPI up 5.6% in February as high rough valuations impact polished market.
US Places Sanctions on Russian Miner Alrosa
Actions also target Sergey S. Ivanov, the company’s CEO.
India Fears Effects of Russia Sanctions on Supply
Moscow’s exclusion from Swift system likely to impact payments for rough, GJEPC warns.
Rapaport Appoints Pat Henneberry as Chief Business Officer
Experienced diamond professional will oversee editorial, operations, distribution and advertising for the print magazine and digital media.
retail
image
Chow Tai Fook, Mountain Province Ink Supply Deal
One-year, renewable agreement provides jeweler with extra rough during period of strong demand.
mining
image
Alrosa Profit Soars as Focus Turns to Sanctions
Miner sees highest annual earnings in five years.
Lucara Raises Revenue Outlook Amid Price Surge
Company now expects sales of up to $225 million in 2022.
Petra’s Average Price Rises at Fourth Tender
Company sells 589,168 carats for $110.5 million.
Lucapa Raises Revenue Expectation for Merlin
Company rethinks value of its rough amid market-wide price growth.
Mountain Province Scores Record Average Price
Most recent tender also saw 13% increase on like-for-like basis.
Miner Looking to Explore Argyle ‘Runoff’
Odessa Minerals has applied for licenses at alluvial site south of the Australian deposit.
general
image
A Lab’s View of Lab-Grown
Grading institute GSI shares the global trends it’s seen in this segment, and offers its predictions for the year to come.
Sarine Profit Skyrockets as Market Rebounds
Earnings for 2021 were nearly seven times those of the previous year.
RJC Signs Up First Emirates-Based Retailer
Dhamani Jewels is working to make its supply chains more sustainable.
Christie’s Hires New Los Angeles Jewelry Exec
Eleanor Walper will be associate vice president and specialist.
Only Natural Diamonds Names First Editor
Sam Broekema to oversee content for NDC’s consumer-facing website.
Gem Legacy Expands Advisory Council
New members will serve as group ambassadors and work to recruit partners.
Jeweler Kwiat to Provide Financing to Indian Trade
FlexFin will let customers use diamonds, jewelry or watches as collateral.
Contact Us
image
Facebook  Twitter  LinkedIn  Google+  RSS  Email
© Copyright 2022 Martin Rapaport. All Rights Reserved.
Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks.
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
Similar Articles
Rapaport TradeWire July 28, 2022
Jul 28, 2022
SIGN UP | ADVERTISE WITH RAPAPORT | CONTACT US July 28, 2022 Rapaport Weekly Market Comment - July 28,
Rapaport TradeWire April 7, 2022
Apr 11, 2022
Industry Retail Mining General April 7, 2022 RAPAPORT MARKET COMMENT Polished trading cautious as prices continue
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2022 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.