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Rapaport TradeWire February 18, 2021

February 18, 2021

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Rapaport TradeWire
February 18, 2021
RAPAPORT MARKET COMMENT
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Polished dealers optimistic. Positive momentum amid busy Valentine’s Day in US and initial reports of robust Chinese New Year season. Asian market shut for lunar festival. E-commerce driving growth; online accounting for nearly 25% of total retail in China. Kering 2020 jewelry sales weak in Europe, strong in Asia. Brands gaining market share in India, with Titan Company FY3Q sales +17% to $1.1B, profit +12% to $73M. Rough trading stable as cutters maintain production levels. Petra Diamonds FY1H revenue -8% to $178M, profit of $2.7M vs. loss of $10.2M a year earlier. India Jan. polished exports +9% to $1.8B, rough imports +65% to $1.3B.

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RAPNET DIAMOND INDEX (RAPI)
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WeeklyMonthlyY2Y
0.30 ct0.19%0.53%-1.72%
0.50 ct-0.05%-0.40%9.79%
1.00 ct0.01%-0.07%6.35%
3.00 ct-0.57%-1.17%6.07%
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: Strong engagement ring sales during Valentine’s Day...
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be_5840aa69ec879f1de3edd967fee55ef1.png Belgium: Favorable supply-demand balance fueling confidence...
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il_5840aa69ec879f1de3edd967fee55ef1.png Israel: Israel Diamond Exchange (IDE) lobbying to become a free-trade zone...
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in_5840aa69ec879f1de3edd967fee55ef1.png India: Suppliers concentrating on American orders as China remains quiet during post-holiday period...
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hk_5840aa69ec879f1de3edd967fee55ef1.png Hong Kong: More than half of China’s 2021 retail revenue will come from online purchasing, eMarketer predicts...
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The Impact of Technology
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WITH The Rapaport Diamond Podcast

The fifth installment in Rapaport’s technology series features four companies making an impact through new, tech-driven features. Their executives explain how innovation is empowering growth.

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How to Operate as an Online-Only Store
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WITH Esther Fortunoff

As e-commerce gains momentum, jeweler Esther Fortunoff explains the pluses and pitfalls of ditching brick-and-mortar.

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UPS AND DOWNS
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up-arrow.png pearl-jewelry_cb5e51f64baccefb3970f1c00b6c1fc1.jpgWealthy Buying Jewelry During Exclusive House Calls
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up-arrow.png rough-diamonds-collection_cb5e51f64baccefb3970f1c00b6c1fc1.jpgAlluvial Miners Outline Way to Save Their Industry
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down-arrow.png rolex-daytona_cb5e51f64baccefb3970f1c00b6c1fc1.jpgSuit: Chicago Jeweler Allowed Rolex Sales to Gray Market
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down-arrow.png namdia-ceo_cb5e51f64baccefb3970f1c00b6c1fc1.jpgNamdia CEO Faces Disciplinary Hearing
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Tw Jewelry Catalog 021821
WEEKLY NEWS
industry
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Dubai Virus Surge Creates Snag for Rough Tenders
The success of the emirate’s diamond market depends on whether Indian buyers continue to make the journey.
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China’s Diamond Market on Path to Recovery
How well has the prominent Asian country weathered the crises of the past year, and what are its prospects for growth?
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Fancy-Color Price Index Sees Slight Decline
Yellow diamonds relatively stable in the fourth quarter.
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retail
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US Stimulus Boosts January Retail Sales
Turnover rose 7% year on year, NRF says.
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China Buoys Kering Jewelry Sales in 2020
Boucheron and Qeelin both performed well in the country, but lagged in Europe.
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Titan Enjoys Diwali Boost to Sales and Profit
Indian retailer’s revenue rises 17% in important third fiscal quarter.
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mining
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Gahcho Kué Stays Shut as Covid-19 Cases Rise
A total of 15 employees have been infected at De Beers’ and Mountain Province’s Canadian site.
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Petra Returns to Profit as Debt Deal Nears
Miner reports $2.7 million for first fiscal half following $10.2 million loss last year.
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Angola Finds Partner for New Diamond Mine
Endiama signed a joint-venture agreement with trade and investment group Gemcorp to develop Mulepe alluvial site.
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Miners See Solid Rough Demand at January Tenders
Alrosa, Diamcor and Lucapa report strong opening sales for 2021.
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general
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South African Diamantaire Louis Lipchin Dies
Industry stalwart is remembered for helping others in the trade.
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The Importance of Circular Business Models
Reusing waste products and materials can deliver ecological, societal and reputational benefits for the industry.
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India Polished Trade Strengthens at Start of Year
Exports up 9% in January; rough imports jump.
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600X160 Tech Podcast Ep 5
FINANCE
Diamond Industry Stock Report
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US retail stocks fell as investors feared strong retail sales could cause Congress to delay passing a third stimulus bill. Macy’s (-4%) and Signet (-4%) both slipped. Walmart (+12%) bucked the trend as traders bet the retailer would report strong quarterly earnings. Chow Tai Fook (+6%), Chow Sang Sang (+3%) and Luk Fook (+3%) rose on the back of a recovery in China, while Kering (-3%) was hampered by disappointing 2020 figures. Mining shares saw mixed results. Lucara (+11%), Mountain Province (+9%), Rio Tinto (+9%) and Anglo American (+6%) all grew, but Lucapa (-7%), Alrosa (-6%) and Gem Diamonds (-6%) lost ground.

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Article originally published on Diamonds.net here

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