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Rapaport TradeWire June 24, 2021
Jun 24, 2021 11:13 AM
By Rapaport
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| June 24, 2021 | | RAPAPORT MARKET COMMENT | | | | Optimism driven by shortages and steady US demand. Some uncertainty regarding prices. Dealers concerned that current price levels may not be sustainable once inventory expands. GIA bottleneck persists amid record global submissions and over one-month turnaround at India labs. Rough market robust during Alrosa sale. De Beers June revenue better than expected at $470M. Lucara’s Karowe mine in Botswana produces 1,174 ct. diamond. India bank credit to gem and jewelry trade +15% since last July to $8.4B. US April polished imports at $1.6B vs. $28M in 2020. Sotheby’s to accept cryptocurrency for pear, 101.38 ct., D, FL diamond, with estimated value of $10M to $15M. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.05% | 1.00% | 9.70% | | 0.50 ct | 0.25% | 1.47% | 16.05% | | 1.00 ct | 0.16% | 2.65% | 20.87% | | 3.00 ct | 0.21% | 1.06% | 17.60% | | | | 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: Strong sell-through rate on memo orders... | | | | | Belgium: Scarcities supporting upward trend... | | | | | Israel: Uncertainty regarding prices as buyers hesitant to accept higher levels... | | | | | India: Good export orders and robust local trading... | | | | | Hong Kong: Jewelers gaining confidence as economy improves, although lack of tourism is limiting sales... | | | | | | | Amplify Our Environmental Message | | | | WITH AVI KRAWITZ | Pandora’s recent embrace of lab-grown diamonds highlighted a need for the natural-diamond trade to ramp up its public relations efforts surrounding sustainability. Protection of the environment, an increasingly important issue for consumers, must be a central theme, argues Rapaport Senior Analyst Avi Krawitz in a new column, “Field Notes.” | | | | | How Retailers Handled the Crisis | | | | WITH LARA EWEN | Government funding and smart money management are helping many jewelers emerge from the pandemic in good shape. This analysis from the June issue of Rapaport Magazine — the third in a series of articles on diamond financing — explores the factors that helped the sector improve its liquidity in the past year. | | | | | WEEKLY NEWS | | | | | | How Many Bitcoins for a 101ct., Flawless Diamond? | | Sotheby’s to accept cryptocurrency for auction of rare D-color stone. | | | | | Trade Seeks to Broaden Kimberley Process Agenda | | Intersessional meeting focuses on sustainability, human rights, digitization, and Central African Republic. | | | | | GIA Seeing Record Submissions, Output | | Labs working at maximum permitted capacity amid worldwide spike in demand. | | | | | Banks Boost Credit to Indian Trade | | Rise in lending helped gem and jewelry industry cope with crisis. | | | | | | | | | De Beers Sales Bounce Back | | June rough proceeds highest in three months. | | | | | Lucara Wows Again with 1,175ct. Rough | | Stone is third over 1,000 carats from Botswana’s Karowe mine. | | | | | Alrosa Reshuffles Supervisory Board | | Independent members now account for 33% of the 15-person group. | | | | | | | | | 50ct. Diamond Sets Online Record at Sotheby’s | | Stone fetched highest price for any jewel at a digital auction. | | | | | WD Launches Traceable Lab-Grown Brand | | Latitude stones come with sustainability guarantee, company says. | | | | | 22ct. Pink Diamond Up for Sale | | Online bidding for stone from Lesotho’s Kao mine to close on July 23. | | | | | Diacore Buys Record Yellow Diamond for $5M | | 204-carat Dancing Sun sold at Christie’s New York earlier this month. | | | | | US Diamond Shipments See April Recovery | | Polished exports bounce back after last year’s sharp slump. | | | | | Ruby Ring Crushes Estimate at Auction | | Piece brought in more than double its high valuation at Doyle sale. | | | | | | | | Diamond Industry Stock Report | | | Global retail stocks increased amid a continued economic rebound. Chow Tai Fook (+5%), Signet (+4%), Pandora (+4%), Luk Fook (+3%) and Macy’s (+1%) all rose. Mining shares were mixed: Petra (+7%) and Lucara (+4%) gained, while Gem Diamonds (-3%), Lucapa (-2%) and Alrosa (-1%) slipped. | | | | | Contact Us |  |       | | © Copyright 2021 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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