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Rapaport TradeWire May 21, 2020
May 21, 2020 10:33 AM
By Rapaport
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| May 21, 2020 |
| RAPAPORT MARKET COMMENT |
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Diamond trading remains at historic lows due to reduced demand and continued lockdown in important US market. Service providers resume operations. GIA opens five global labs. Israel Diamond Exchange to unlock trading floor on May 24. Focus shifting to marketing strategies to stimulate recovery, with emphasis on digital channels. Diamonds as symbol of values and emotional connection to be central theme as consumers emerge from period of isolation. Diamond Producers Association to drop “Real is Rare” campaign in complete brand overhaul on June 1. Baselworld to change name and venue in 2021. De Beers urges manufacturers to keep supply chains open, even at drastically reduced levels, as India postpones rough-import moratorium to June 1.
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| RAPNET DIAMOND INDEX (RAPI™) |
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| Weekly | Monthly | Y2Y |
| 0.30 ct |
0.05% |
-1.50% |
-4.39% |
| 0.50 ct |
0.30% |
-0.19% |
-7.73% |
| 1.00 ct |
-0.05% |
0.59% |
-11.26% |
| 3.00 ct |
0.50% |
-2.39% |
-11.39% |
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| 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 |
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United States: Retail cautiously reopening in some states... |
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Belgium: City of Antwerp announces extra financial help for struggling companies... |
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Israel: Businesses operating but trading slow as partners in US and India remain in lockdown... |
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India: Bharat Diamond Bourse reopens for export activities... |
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Hong Kong: Tourist shopping drastically reduced since two-week quarantine is still mandatory for new arrivals... |
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| RAPAPORT BREAKFAST |
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Coronavirus or not! JCK show or not!
Martin Rapaport’s State of the Diamond Industry presentation
Thursday, June 4, 12 p.m. EDT
BYOB! Bring Your Own Bagel!
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| PODCAST: THE ENDURING APPEAL OF ART DECO |
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| WITH Jewelry Connoisseur by Rapaport |
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In the inaugural episode of our new podcast, Guy Burton, director at Hancocks London, talks to Rapaport Editor in Chief Sonia Esther Soltani about how the eloquent, beautiful jewels of the Art Deco era have stood the test of time.
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| WEEKLY NEWS |
| industry |
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| DPA to Rebrand, Abandon ‘Real Is Rare’ |
| Marketing group will unveil radical overhaul on June 1. |
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| Five GIA Labs Resume Operations |
| Locations in California, Antwerp, South Africa, Tokyo and Botswana will function with modified schedules and limited capacity. |
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| Surat Diamond-Cutting Sector Reopens |
| Government restricts workforce to 50% in factories and 33% in offices. |
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| India Trade Delays Import Freeze to June 1 |
| Postponement gives companies time to complete outstanding shipments. |
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| Baselworld to Drop Name, Change Venue |
| Organizer MCH Group also reviewing show’s format. |
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| retail |
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| Jewelry Tops List of Mother’s Day Gifts – MVI |
| Sales shift online due to coronavirus-related lockdowns. |
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| US Retail Sales Drop Heavily in April |
| Total purchases down 22% year on year, NRF says. |
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| Richemont Sees Tough Road Ahead for Luxury |
| Return to normal could take three years, chairman Johann Rupert predicts. |
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| Swarovski Hires First Creative Director |
| Giovanna Battaglia Engelbert previously worked as a consultant to the brand’s B2B division. |
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| Michael Hill Sees Record Online Sales |
| Total for three weeks ending May 14 beats Christmas 2019 levels. |
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| general |
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| Israel Bourse Trading Floor to Reopen May 24 |
| Hall will follow new format to ensure safety. |
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| Sotheby’s to Hold Magnificent Jewels Sale in June |
| Geneva auction will feature an online portion followed by a live sale. |
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| Ernie Blom Wins Legal Case Against WFDB |
| Antwerp court bans organization from publicly blacklisting its former president over Dubai payment dispute. |
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| Sally Morrison Returns to Natural Role at De Beers |
| Lightbox marketing head will join the miner’s core business. |
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| US Polished Imports Down 66% in March |
| Shipments hit lowest monthly level since December 2002. |
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| JBT Appoints New Chairman |
| Ann Arnold, chief strategy officer for Buyers Intelligence Group, succeeds Mike Kaplan. |
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| FINANCE |
| Diamond Industry Stock Report |
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Global retail stocks rose this week as many countries emerged from lockdowns, fueling a degree of optimism for consumer spending. Pandora (+11%), Signet (+11%), LVMH (+9%), Kering (+6%) and Richemont (+5%) all climbed. J.C. Penney (-18%) fell after filing for bankruptcy. Miners had a good week as some operations resumed, with Anglo American (+23%), Rio Tinto (+16%), Gem Diamonds (+7%), Lucara (+6%) and Alrosa (+5%) all rising.
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| © Copyright 2020 Martin Rapaport. All Rights Reserved. |
| Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. |
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