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Rapaport TradeWire April 8, 2021

April 08, 2021

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Rapaport TradeWire
April 8, 2021
RAPAPORT MARKET COMMENT
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Polished trading slower after robust 1Q. Concerns about high Covid-19 infections in Europe and India. Bharat Diamond Bourse sharply restricts activity. Surat manufacturing and exports continue. US jewelers optimistic as consumer confidence grows in March. Vaccine rollout and $1,400 stimulus checks fueling retail spending. Rough market cooling. Cutters anticipate rise in polished inventory as GIA releases backlog. De Beers sells $440M of rough in Mar./Apr. vs. zero last year. Lucara extends exclusive large-stone rough supply deal with HB Antwerp for two years. Signet acquires jewelry rental company Rocksbox. Israel 1Q polished exports +12% to $828M.

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RAPNET DIAMOND INDEX (RAPI)
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WeeklyMonthlyY2Y
0.30 ct0.10%-1.58%4.82%
0.50 ct0.08%-1.33%15.37%
1.00 ct0.36%0.96%16.03%
3.00 ct0.36%0.13%2.88%
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.
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Market Reports
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us_5840aa69ec879f1de3edd967fee55ef1.png United States: Retail jewelers optimistic with good bridal sales ahead of summer wedding months...
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be_5840aa69ec879f1de3edd967fee55ef1.png Belgium: Dealers hoping US and Chinese buyers will turn to Antwerp instead of India during Mumbai lockdown...
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il_5840aa69ec879f1de3edd967fee55ef1.png Israel: Suppliers starting to travel again to reconnect in person with buyers after successful vaccination drive...
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in_5840aa69ec879f1de3edd967fee55ef1.png India: Manufacturers refocusing on natural diamonds after drop in lab-grown prices...
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hk_5840aa69ec879f1de3edd967fee55ef1.png Hong Kong: Some confidence that border with mainland will reopen, lifting major barrier to trade...
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UPS AND DOWNS
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up-arrow.png Tiffany-Blue-Box_190711_110008_cb5e51f64baccefb3970f1c00b6c1fc1.jpgTiffany & Co. Is the Surprise Winner of April Fool’s Day
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up-arrow.png Viola-Davis-SAG-Awards_cb5e51f64baccefb3970f1c00b6c1fc1.jpgThe Stars’ Jewelry Shone at This Year’s SAG Awards
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down-arrow.png karelian-diamond_cb5e51f64baccefb3970f1c00b6c1fc1.jpgItaly Prosecutors Seek Mass Trial in Diamond Fraud Probe
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down-arrow.png anonymous-department-store_cb5e51f64baccefb3970f1c00b6c1fc1.jpgUBS Predicts 80,000 Stores Will Close in the US by 2026
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WEEKLY NEWS
industry
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Diamond Trade Upbeat Ahead of 2Q Slowdown
US and Chinese demand support buying activity in March.
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Mumbai Bourse to Shut Amid Covid-19 Spike
State government imposes lockdown after infections soar.
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Mumbai Diamond Services Get Approval to Continue
Restrictions in Maharashtra state exclude grading and other support activities.
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First Nation Group at Loggerheads with De Beers
Body of Indigenous people in Canada opposes company building new landfill on Victor mine site.
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‘Peculiar’ Coloring Helps GIA Spot Treatment
Green-yellow diamond was originally brown, researchers posit.
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Covid-19 Upsets Plans for India, Hong Kong Shows
Rising cases and continued restrictions force latest postponements.
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US Proposes Tariffs on Select Indian Jewelry
Washington, DC, threatens duties of up to 25% in response to e-commerce tax.
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retail
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Signet Acquires Jewelry Rental Subscription Site
Rocksbox will help company expand its services business, management says.
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Hong Kong Retail Sales Bounce Back
Business environment still difficult, government cautions.
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Titan Jewelry Sales Continue Recovery
Revenue at Indian retailer up 70% for three months ending March 31.
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Apparel Group Buys Lifestyle Brand for $3.6M
Clothing and jewelry label Logo, founded by Lori Goldstein, sells to Xcel.
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Malabar Gold & Diamonds Opens 56 New Stores
India-based chain will spend $220 million on expansion over next two years.
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mining
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De Beers Rough Sales Stabilize
March cycle grosses $440 million, but company warns of Covid-19 impact.
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Lucara Extends Large-Stone Supply Agreement
Miner will continue to sell all rough over 10.8 carats to manufacturer HB Antwerp for two years.
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Petra’s Cullinan Mine Yields 39ct. Blue
Stone has “exceptional” color and clarity, company says.
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Alrosa Appoints New Head of Mining Division
Sergey Pavlenko will lead the Udachny unit, succeeding Roman Deniskin.
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Lulo Mine Turns Out Sixth Large Stone This Year
Lucapa recovers 144-carat, D-color, type IIa diamond from Angola deposit.
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general
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Jewelers of America Unveils CASE Award Winners
Group hands out prizes to designers in 14 categories.
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Israel’s Rebound Continues as Exports Grow
Polished shipments out of the country rise 12% in first quarter.
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Jewelers Board of Trade Reelects Chairman
Ann Arnold of Buyers Intelligence Group will serve a second term.
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Larger Rough in Demand at Trans Atlantic Sale
March tender grosses $60 million amid strong market for 0.75-carat goods and above.
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Jewelers of America Takes GEM Awards Online
Organization’s third National Convention will also be digital.
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FINANCE
Diamond Industry Stock Report
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Retail stocks rose as the American economy reopened and consumers began spending again. A decline in US unemployment and President Joe Biden’s new stimulus plan also bolstered share prices. Pandora (+6%), Chow Sang Sang (+5%), Chow Tai Fook (+5%), LVMH (+3%), Walmart (+3%) and Richemont (+3%) gained. Miners had a positive week, with Petra (+8%), Gem Diamonds (+8%), Anglo American (+7%) and Rio Tinto (+4%) all climbing.

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Article originally published on Diamonds.net here

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