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Rapaport TradeWire July 9, 2020

July 09, 2020

Rapnet 600X160 Covid
Rapaport TradeWire
July 9, 2020
RAPAPORT MARKET COMMENT
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Diamond trade uncertain amid spike in coronavirus infections and new restrictions in India and Israel. Prices firm for select goods as 1 ct. RAPI +1.9% in June. Investment demand for 0.50 to 1 ct., D, IF and bridal supporting the market. Rough trading significantly reduced as Surat factories close again for lockdown. Miners under pressure. Smaller producers willing to drop prices to generate sales and raise liquidity. Manufacturers seeing greater profit from rough bought at tenders than at De Beers or Alrosa contract sales. Global 2019 production -7% to $13.5B, volume -12% to 130M cts., average price +6% to $103/ct. Belgium June exports -44% to $469M, rough imports -48% to $351M.

Amipi Rapnet Tradewire
RAPNET DIAMOND INDEX (RAPI)
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WeeklyMonthlyY2Y
0.30 ct0.23%-0.10%-0.51%
0.50 ct-0.05%1.12%-5.10%
1.00 ct0.29%1.67%-8.31%
3.00 ct-1.02%-1.40%-9.61%
RAPI Yearly Graph
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.
Trade Wire 600X160 April 2018
Market Reports
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us_5840aa69ec879f1de3edd967fee55ef1.png United States: Bridal, branded pieces and vintage estate jewelry generating steady sales...
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be_5840aa69ec879f1de3edd967fee55ef1.png Belgium: Industry cautious about current conditions but optimistic for fourth quarter...
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il_5840aa69ec879f1de3edd967fee55ef1.png Israel: Delay in international shipments causing dealers to source domestically rather than from India...
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in_5840aa69ec879f1de3edd967fee55ef1.png India: Liquidity tight amid reports some foreign buyers delaying payment...
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hk_5840aa69ec879f1de3edd967fee55ef1.png Hong Kong: Luxury retailers struggling due to drop in tourist shoppers and slump in local buying...
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WITH Joyce Kauf

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UPS AND DOWNS
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up-arrow.png Bulgari-Fiorever_cb5e51f64baccefb3970f1c00b6c1fc1.jpgBulgari Expects to Recover Lost Sales Within Two Years
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up-arrow.png Rough-Diamonds_cb5e51f64baccefb3970f1c00b6c1fc1.jpgZimbabwe Diamond Stash to Rake In Millions
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down-arrow.png Jewelry_cb5e51f64baccefb3970f1c00b6c1fc1.jpgAlmost Half of Jewelers Have Had Issues Finding Goods
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down-arrow.png Alex-and-Ani_cb5e51f64baccefb3970f1c00b6c1fc1.jpgThe Rise and Fall of Jeweler Alex and Ani
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WEEKLY NEWS
industry
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Diamond Price Index Firms Amid Slow Trade
Covid-19 resurgence leads to market uncertainty in June.
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Israel Diamond Industry ‘on Verge of Collapse’
Coronavirus to cost sector more than $580 million, bourse president tells Prime Minister Netanyahu.
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India Trade Calls for Lower Import Tax
GJEPC also wants looser restrictions on miners’ rough sales in the country.
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September Hong Kong Show Now in November
Event will take place at one venue instead of usual two.
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Surat Factories to Stay Shut Until July 14
Authorities allow trading markets to reopen this Friday.
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retail
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Survey: Shoppers Prefer to Buy Jewelry In-Store
Consumers want expert advice and personal attention, but also wish to feel safe, De Beers finds.
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Signet Lands on Top 100 Retailers List
US jeweler comes in at number 98 on NRF ranking.
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Titan Sales Slump as Lockdown Hits India
Jewelry revenue down 80% in May and 30% in June.
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Birks Sidelines Omni-Channel Role
Company lets go of Lanita Layton as coronavirus forces reorganization of management.
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mining
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Alrosa Delays July Sale to Later in Month
Russian miner also reschedules August trading session.
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Global Rough Production Slides in 2019
Figure fell 7% to $13.48 billion, Kimberley Process says.
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Two Parties Interested in Buying Dominion
Companies have signed non-disclosure agreements to access proprietary information about the miner.
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general
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Belgium’s Diamond Shipments Drop Further
Polished exports down 44% in June, but rate of decline eases.
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Christie’s Garners $5M at Paris Auction
Sapphire and diamond ring by Verdura is top-selling jewelry piece.
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DMCC Opens Doors to Lab-Grown Business
Dubai hub welcomes Lumex as it looks to continue synthetics expansion.
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Industry Leaders to Offer Insights in Virtual Session
Executives from De Beers, Alrosa and Signet to speak at Diamonds Do Good gathering.
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600X160 Mag
FINANCE
Diamond Industry Stock Report
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Retail stocks improved as the US economy continued to reopen. Pandora (+8%), Birks (+6%), Macy’s (+4%) and Walmart (+4%) all gained. Shares in mining companies were largely flat, with Lucapa, Anglo American and Gem Diamonds all trading within 1% of their prices from a week earlier. The exceptions were Lucara (+5%) and Petra (-6%).

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Rapnet Trade Wire
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Article originally published on Diamonds.net here

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