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Rapaport TradeWire March 3, 2022
Mar 3, 2022 11:33 AM
By Rapaport
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| March 3, 2022 | | RAPAPORT MARKET COMMENT | | | | 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™) | | | | 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% | | | | 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: Some buyers shifting to fancy shapes above 1.50 ct., which offer better prices than rounds in same categories... | | | | | Belgium: Rough shortages driving premiums on secondary market... | | | | | Israel: Dealers focused on filling US demand, with strong memo orders... | | | | | India: Favorable appetite for rough amid decline in volume available... | | | | | 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... | | | | | | | 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. | | | | | WEEKLY NEWS | | | | | | 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. | | | | | | | | | Chow Tai Fook, Mountain Province Ink Supply Deal | | One-year, renewable agreement provides jeweler with extra rough during period of strong demand. | | | | | | | | | 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. | | | | | | | | | 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 |  |       | | © Copyright 2022 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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