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Rapaport Weekly Market Comment
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Sentiment improving after relatively good trading in July-August. Shortages supporting prices. Fewer dealers active in the market. Suppliers with the right goods that meet selective demand gaining market share. Manufacturers considering higher...
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Polished Markets
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Aug 13, 2020
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Rapaport News
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Research
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Aug 13, 2020
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Rapaport
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Jewelry Brand Fana Names Sales Specialists
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Fana, a New York-based bridal and fine-jewelry brand, has appointed three senior staff members to shore up its sales operations and interactions with retail partners.Shelby Sterrett, who joined the company in February, will lead...
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Retail
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Aug 13, 2020
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Rapaport News
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ABN Amro to Cease Hong Kong Diamond Lending
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Dutch bank ABN Amro will close its Hong Kong diamond business in a major trimming of its global operations.The company is shutting the branch from which it lends to the local polished market, as part of a retreat from...
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Financial-Legal
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Aug 13, 2020
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Joshua Freedman
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What De Beers and Alrosa Clients Really Want
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Ask a De Beers or Alrosa contract client about the biggest problems with the miners’ age-old systems for selling rough, and the answer will probably include a comment on prices. High rough prices relative to polished...
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Rough Markets
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Aug 13, 2020
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Joshua Freedman
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Coronavirus Updates: Impact on the Diamond Trade
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The Covid-19 pandemic that has swept the globe has had a notable impact on the diamond industry, with new developments unfolding every day. Here, we present a one-stop, running news feed on industry events impacted...
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Polished Markets
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Aug 13, 2020
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Rapaport News
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Forevermark Debuts in New Zealand
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De Beers will launch its Forevermark diamond brand in New Zealand in partnership with local retailer Partridge Jewellers.Forevermark’s high-end Black Label collection will be available at three Partridge stores in Auckland, Wellington and Christchurch, De Beers said...
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Retail
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Aug 12, 2020
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Rapaport News
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Tiffany Ranked Among ‘Hot 100’ Retailers
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Tiffany & Co. has retained a spot on the National Retail Federation’s (NRF) list of the fastest-growing US retailers.The New York-based company came in at number 95, the only jewelry specialist to make the cut this year,...
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Retail
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Aug 12, 2020
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Rapaport News
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India’s Titan Incurs ‘Unprecedented’ Loss
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Titan Company, India’s largest jewelry retailer, recorded heavy losses in the first fiscal quarter as the coronavirus forced it to close stores for most of the period.The company reported a net loss of INR 2.97 billion ($39.7...
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Retail
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Aug 12, 2020
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Rapaport News
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GIA to Give Full Color, Clarity Grades for Lab-Grown
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The Gemological Institute of America (GIA) is launching a new digital report for lab-grown diamonds that will feature specific color and clarity grades. The organization, which currently only offers loose descriptions and grade...
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Polished Markets
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Aug 12, 2020
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Rapaport News
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To Speak Out, or Not to Speak Out?
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The killing of George Floyd at the hands of police in May and the subsequent protests split US society in a way that few other events have. While companies in all sectors have increasingly engaged in corporate activism in recent...
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Retail
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Aug 11, 2020
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Joshua Freedman
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Lucara Ends Second Quarter at a Loss
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Lucara Diamond Corp. reported a loss for the second quarter amid weaker demand and a planned halt on regular tenders of large stones from its Karowe mine.The company recorded a net loss of $13.9 million for...
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Mining
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Aug 11, 2020
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Rapaport News
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Diamonds High on Holiday Gift Lists
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Consumers are showing strong interest in buying diamonds for their loved ones this holiday season, seeing a need to give something special following an uncertain year, according to a survey by De Beers.In the US, almost 60% of men...
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Retail
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Aug 11, 2020
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Rapaport News
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Alrosa Finds Russia’s Largest Colored Diamond
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Alrosa has recovered a 236-carat, intense-yellow-brown diamond, the largest natural colored diamond found in Russia.The stone, which the miner recovered from its Ebelyakh deposit in Yakutia, is an estimated 120 million to 230 million years old,...
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Mining
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Aug 10, 2020
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Rapaport News
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A Crucial Moment for Artisanal Miners
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The question of how to tackle the hardships facing informal diamond miners is as pressing today as it was when it first arose nearly 20 years ago.It was first touted as an issue that perhaps the Kimberley Process (KP) could...
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Fair Trade
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Aug 10, 2020
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Avi Krawitz
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Hong Kong Trading Hits New Low
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Polished-diamond imports into Hong slumped in the second quarter as the Covid-19 pandemic damaged local demand. Shipments into the municipality fell 45% year on year to $2.24 billion, the weakest for any quarter since...
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Polished Markets
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Aug 09, 2020
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Rapaport News
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Retail Sales Slide at Berkshire Hathaway
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Revenue from the retail division of Warren Buffett’s Berkshire Hathaway fell 16% to $3.37 billion in the second quarter, the company reported Saturday.The division, which includes jewelry chains Borsheims, Helzberg Diamonds and Ben...
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Retail
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Aug 09, 2020
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Rapaport News
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Sarine Turns Profit Following Cutbacks
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Sarine Technologies ended the first half of 2020 in the black as deep cost cuts offset the effects of Covid-19.The supplier of diamond-polishing equipment made a profit of $1.2 million for the period, compared with a loss of $2.8...
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Manufacturing
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Aug 09, 2020
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Rapaport News
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Mountain Province in the Red as Demand Slows
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Mountain Province reported a loss in the second quarter as the coronavirus pandemic closed markets and hit demand.The miner posted a net loss of CAD 26.8 million ($21.8 million) for the three months ending June...
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Mining
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Aug 09, 2020
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Rapaport News
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Rapaport Weekly Market Comment
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Polished market improving due to select demand from US and China. Shortages supporting prices; 1 ct. RAPI +1.9% in July. Jewelers acclimating to new normal by emphasizing digital sales and lower in-store inventory. De Beers considering layoffs...
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Polished Markets
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Aug 06, 2020
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Rapaport News
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