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Rapaport TradeWire March 11, 2021
Mar 14, 2022 4:50 AM
By Rapaport
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March 11, 2022 | RAPAPORT MARKET COMMENT | | Russian sanctions unlikely to reduce rough supplies since Indian firms are seeking alternative payment methods and can legally sell resulting polished to America. Sanctions are on payment methods and not on diamonds. See Rapaport’s resource page for more information. Surging commodity prices and inflation are rocking markets. Gold breaks $2,000/ounce. Polished prices stabilizing as consumers battle higher gas and food costs. Rough market cooling as March auction prices decline amid uncertainty. Alrosa reducing its profile and has resigned from boards of Responsible Jewelry Council, Natural Diamond Council and Diamonds Do Good. De Beers Feb. sales +18% to $650M. Douglas Hucker steps down as CEO of American Gem Trade Association. |
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RAPNET DIAMOND INDEX (RAPI™) | |
| Weekly | Monthly | Y2Y |
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0.30 ct | 3.22% | 6.84% | 7.80% | 0.50 ct | 2.44% | 7.99% | 15.10% | 1.00 ct | 4.12% | 8.33% | 36.53% | 3.00 ct | 2.71% | 7.46% | 37.66% | |
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. |
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Market Reports | | | United States: Optimism among upscale jewelers is stimulating appetite for better-quality diamonds... | | | Belgium: Suppliers holding polished prices firm due to steep rough costs... | | | Israel: Fancy shapes doing well and offering better value than rounds... | | | India: Buyers only making purchases when there is specific demand and when price is right... | | | Hong Kong: Local Covid-19 outbreak denting activity... | | |
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Webinar: Politics, Economics, and Diamond Prices | | WITH RAPAPORT | Experts from Rapaport and the Jewelers Vigilance Committee outline the demand, supply and legal implications of the Russia-Ukraine crisis for the diamond industry. | |
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Russian Invasion’s Impact on the Market | | WITH MARTIN RAPAPORT | The conflict in Ukraine is leading to economic warfare that will significantly boost inflation, which in turn will have an impact on consumer spending and diamond demand, says Martin Rapaport in this official statement to the industry. | |
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Questions About Russia | | WITH THE RAPAPORT DIAMOND PODCAST | The editorial team discusses the changing sentiment in the trade. Plus: News Editor Joshua Freedman reports back on the recent industry events in Dubai. | |
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WEEKLY NEWS | | |
Alrosa to Stop Funding the Natural Diamond Council | Miner steps down from organization’s board. | |
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Indian Cutters Face Sales Drop: Report | Russia situation could cause supply disruption, Crisil cautions. | |
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Hong Kong Show to Take Place in Singapore | Temporary venue change will help overseas visitors attend. | |
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Alrosa US Chief Leaves Role at Diamonds Do Good | Rebecca Foerster resigns as nonprofit’s president and board member amid Russia crisis. | |
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Helzberg Reports Roaring Sales of 2ct. Lab-Growns | Demand for category lifted company’s average transaction value in 2021. | |
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Pandora Marketing Executive Exits Company | Carla Liuni joined two years ago to help launch the jeweler’s turnaround plans. | |
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Hong Kong Retail Sluggish Amid New Restrictions | Hard-luxury market sees weakest sales growth in a year. | |
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Alrosa Sales Continue via Non-Dollar Payments | Miner asks customers to pay in euros and other currencies. | |
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Petra Prices Surge as Demand Persists | Rough values up 38% at latest tender. | |
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De Beers Sees Further Sales Jump | Miner registers proceeds of $650 million at February cycle. | |
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Firestone Mine Stays Closed as Refinance Deal Fails | Debt restructuring falls at final hurdle following months of negotiations. | |
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Lucapa Sets Sights on Retail Market | Miner plans to work with Australian jeweler Margot McKinney. | |
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Diamcor Accelerates Mine Upgrades in Hot Market | Project will help lift production at South African deposit. | |
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Law and Human Rights in the Jewelry Industry | The US has multiple regulations to prevent abuses in the supply chain, says Sara E. Yood of the Jewelers Vigilance Committee. | |
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De Beers Expands Tech Programs for Women | Partnership with WomEng to continue for further three years. | |
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Bourses Sign Up to Ethics Resolution | WFDB adopts guidelines for sourcing, human rights and labor practices. | |
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American Gem Trade Association CEO Steps Down | Douglas Hucker leaves organization following 24-year tenure. | |
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