TradeWire® Weekly Email

Date:

November 25, 2021
RAPAPORT MARKET COMMENT
image

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)
image
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%
RAPI Yearly Graph
Market Reports
image
United States: Steady bridal sales as America anticipates 2022 wedding boom...
image
Belgium: Dealers struggling to buy at desired prices...
image
Israel: Holiday buying strong compared with past two years, but finding the right inventory is difficult...
image
India: Some shortages evident due to Diwali production lull and seasonal demand...
image
Hong Kong: Local retail positive amid economic recovery and improvement in Covid-19 situation...
image
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.

UPS AND DOWNS
image
image
image
image
image
WEEKLY NEWS
industry
image
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.
retail
image
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.
mining
image
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.
general
image
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
image
Facebook  Twitter  LinkedIn  Google+  RSS  Email
© Copyright 2021 Martin Rapaport. All Rights Reserved.
Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks.
© Copyright 1978-2021 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.