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Rapaport TradeWire November 25, 2021

November 28, 2021

November 25, 2021
RAPAPORT MARKET COMMENT
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Sentiment positive as holiday sales gain momentum. Consumers continue to focus on meaningful gifting. Travel spending gradually returning. Manufacturers raising production after Diwali break amid shortages of better-quality RapSpec A3+ diamonds above 1 ct. De Beers Nov. sight -7% to $430M. Rio Tinto takes full ownership of Diavik mine. Chow Tai Fook 1H revenue +79% to $5.7B, profit +60% to $470M. Birks Group 1H revenue +48% to $67M, profit of $791K vs. loss of $2M. Indian government to require GJEPC membership for rough imports and exports. The Rapaport Group wishes all our friends a happy Thanksgiving and a successful holiday season.

RAPNET DIAMOND INDEX (RAPI)
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WeeklyMonthlyY2Y
0.30 ct
0.22%
0.64%
-2.48%
0.50 ct
0.44%
0.25%
-0.68%
1.00 ct
0.28%
0.36%
13.54%
3.00 ct
0.49%
1.64%
12.76%
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.
Market Reports
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United States: Steady bridal sales as America anticipates 2022 wedding boom...
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Belgium: Dealers struggling to buy at desired prices...
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Israel: Holiday buying strong compared with past two years, but finding the right inventory is difficult...
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India: Some shortages evident due to Diwali production lull and seasonal demand...
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Hong Kong: Local retail positive amid economic recovery and improvement in Covid-19 situation...
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Webinar: Changes, Challenges and Opportunities
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WITH AVI KRAWITZ

Strong retail sales are supporting industry sentiment. However, rising midstream inventory levels and longer-term changes in the market are forcing companies to stay on their toes. Rapaport Senior Analyst Avi Krawitz explores the issues in the latest Diamond Trends Webinar.

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The secrets of spinel
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WITH JEWELRY CONNOISSEUR BY RAPAPORT

Often mistaken for ruby or sapphire in the past, this bright, versatile stone comes in a swath of colors and has collectors paying a premium to get their hands on quality goods, writes Diana Jarrett.

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UPS AND DOWNS
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WEEKLY NEWS
industry
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Alrosa Shifting to Tailored Rough Contracts
Russian miner releases plans for De Beers-style system.
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India: Traders Must Join GJEPC to Import Rough
Government aims to remove itself from Kimberley Process oversight procedures.
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Colored Diamonds Set to Sparkle at Sotheby’s
6.11-carat, fancy-intense-blue stone expected to fetch up to $6.5 million at New York auction.
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retail
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Chow Tai Fook Boosted by China Expansion
Company opened 624 new stores on mainland in first fiscal half.
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Macy’s Ups Outlook as Jewelry Remains Solid
Category was among department store’s best sellers during three months ending October 30.
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Birks Sales, Profit Back on Track
Reopening of store network drove 48% increase in half-year revenue.
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mining
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De Beers Sales Slow Amid Diwali Closures
Proceeds fall 7% at November cycle.
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Rio Tinto Takes Full Ownership of Diavik
Deal follows 19-month battle with former joint-venture partner Dominion.
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Lucara Outlook Strong Amid ‘Healthy’ Market
Company expects revenue of up to $215 million in 2022.
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Arctic Canadian Diamond Company Names CEO
Rory Moore will assume role permanently after serving as interim head since February.
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BlueRock Cleared to Restart Mining
Kareevlei site suffered weeklong closure due to possible safety breach.
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general
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Russia, Belgium Sign Deal on Digital Export Certs
Countries will share data electronically alongside use of paper Kimberley Process documents.
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Phillips to Sell Record Emerald Collection
45 pieces to go under hammer in Hong Kong.
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Sarine Wins Lawsuit Against Indian Manufacturer
Judge issues injunction preventing Rudra Diam from using pirated versions of company’s software.
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Sapphires Star in Bonhams New York Sale
Bulgari ring expected to fetch up to $800,000.
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Swiss Watch Exports Reach Seven-Year High
Shipments total $2.29 billion in October.
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Article originally published on Diamonds.net here

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