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Rapaport TradeWire August 12, 2021

Aug 12, 2021 10:21 AM   By Rapaport
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August 12, 2021
RAPAPORT MARKET COMMENT
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Sentiment positive despite seasonal slowdown. Dealers filling orders but struggling to replace goods at current price levels. Polished prices firm even as inventory rises. Buoyant US retail driving the recovery; July jewelry sales +83%, reports Mastercard SpendingPulse. Overseas exhibitors frustrated by restrictions preventing travel to Las Vegas shows. Manufacturing profit margins under pressure following recent rough price hikes. Alrosa sells $334M of rough in July. Gem Diamonds 1H sales +41% to $104M, Letšeng mine average price +10% to $1,886/ct. Lucara Diamond 2Q revenue of $46M vs. $8M last year, profit of $6M. US June polished imports +93% to $1.6B, exports +139% to $1.2B.

RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct
-0.39%
-0.62%
5.52%
0.50 ct
-0.11%
0.15%
11.03%
1.00 ct
0.10%
0.90%
21.10%
3.00 ct
0.19%
0.72%
17.58%
RAPI Yearly Graph
Market Reports
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United States: Strong memo sell-through across full range of sizes...
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Belgium: Business quiet during summer vacation period...
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Israel: Retailers buying for inventory, boosting optimism among suppliers...
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India: Steady US and Hong Kong orders; strong appetite for lower-value diamonds under 0.20 ct. ...
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Hong Kong: Stable market with shortages in select categories of polished...
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The Value of Values
WITH AVI KRAWITZ

The push for a traceable and transparent supply chain is as much about profits as it is about principles. But are consumers ready to pay more for an ethically sourced diamond? Rapaport Magazine explores the question as part of its wide-ranging coverage of social responsibility in the August issue. 

Recycled Riches
WITH JEWELRY CONNOISSEUR BY RAPAPORT

Estate jewelry has been gaining momentum as an environmentally and socially conscious alternative to newly mined gold and gemstones. Dealer Diane Richardson talks about the role these pre-owned pieces play in the circular economy.

UPS AND DOWNS
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WEEKLY NEWS
industry
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JCK to Go Ahead, but with Few Overseas Visitors
Belgian and Indian exhibitors unlikely to attend.
GIA Gives Grant to Support Mercury-Free Initiative
Award will be used to evaluate ore-testing process and establish transparent supply chain.
Christie’s to Sell 24ct. Heart Diamond Online
Piece is highest-valued jewel auction house has offered digitally.
India Aiming for Sharp Export Jump
GJEPC sets full-year target of $44 billion for gems and jewelry.
retail
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US Jewelry Sales Speed Up in July
Child tax credit and return to in-store purchasing boosted revenues.
Profit Bounces Back at Indian Jeweler Titan
Retailer was better prepared to tackle Covid-19 crisis in 2021 than a year earlier, management says.
Watches of Switzerland Revenue Strengthens
Sales up 96% year on year in first fiscal quarter.
Pandora Ups Full-Year Forecast as Sales Rise
Jewelry retailer reports strong second-quarter growth.
Retail Sales Recover at Berkshire Hathaway
Revenue for division — which includes jewelry — rose 48% in second quarter.
mining
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Alrosa’s Sales Buoyed by Continued Strong Demand
July revenue from rough and polished diamonds was nearly double pre-pandemic levels.
Lucara Revenue Sees Revival in Second Quarter
Sales up more than sixfold year on year to $46.3 million.
Gem Diamonds Sales Rise Amid Strong Prices
Miner notes positive demand for high-value rough.
Lucapa Expects to Begin Merlin Production in 2023
Mine has an estimated resource of 4.4 million carats.
Large Stones Drive Up Diamcor Average Price
Figure rose 90% between early and late July.
South Africa Riots Dent BlueRock Production Plan
Country’s Covid-19 outbreak has also affected operations at the Kareevlei mine.
general
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US Polished Imports Maintain Upward Trend
Shipments skyrocketed 93% year on year in June.
Sotheby’s Debuts Sale of Jewels by Black Designers
Exhibition showcases custom-made and signature pieces from 21 artists.
Lab-Grown Maker Lusix Gets Eco Accreditation
Israeli producer can now make sustainability claims about its rough goods at the B2B level.
Israel Sees Further Jump in Diamond Trading
Imports and exports showed continued recovery in July.
FINANCE
Diamond Industry Stock Report
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US retail stocks rose as the economy continued to reopen. Macy’s (+18%), Signet (+11%) and Walmart (+5%) gained. Shares in Europe and Hong Kong fell amid a resurgence of Covid-19, with Chow Sang Sang (-5%), Luk Fook (-3%) and Pandora (-2%) falling. Mining shares were positive overall. Lucapa (+9%), Lucara (+3%), Anglo American (+2%) and Alrosa (+1%) increased. Rio Tinto (-7%) was the exception.

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