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Rapaport Weekly Market Comment
Optimism fueled by upbeat US demand and rising expectations for Feb. 12 Chinese New Year. Polished scarcities supporting prices. Rough market robust as De Beers raises prices by estimated 5%, Alrosa by 7%. Cutters increasing production after...
Polished Markets Jan 21, 2021 Rapaport News
Rapaport TradeWire January 21, 2021
Research Jan 21, 2021 Rapaport
Alrosa Sales Surge in Final Months of Year
Sales at Alrosa showed a strong recovery in the fourth quarter of 2020 amid holiday demand and a rise in activity at Indian diamond manufacturers.Revenue from rough diamonds grew 29% year on year to $1.14 billion, the company reported...
Mining Jan 21, 2021 Rapaport News
WJA Susan Chandler 140
Women’s Jewelry Association Names New President
The Women’s Jewelry Association (WJA) has chosen Susan Chandler, the chief merchandising officer for Citizen Watch America, as president-elect of its international board of directors.In her role at WJA, Chandler will help foster community,...
Polished Markets Jan 21, 2021 Rapaport News
IGI lab grown report 140
IGI Lab-Grown Reports to Indicate Treatments
The International Gemological Institute (IGI) has updated its grading report for synthetic diamonds to include information about post-growth treatments.The reports will now outline the growth process for untreated chemical vapor deposition...
Polished Markets Jan 21, 2021 Rapaport News
Manufacturing Surat India
India Polished Exports Drop 31% in 2020
India’s polished-diamond exports fell 31% to $14.17 billion in 2020, according to Rapaport calculations based on data from the country’s Gem & Jewellery Export Promotion Council (GJEPC).A slump during the peak of the coronavirus crisis...
Polished Markets Jan 21, 2021 Rapaport News
Richemont HK store 140
Resurgent Jewelry Sales Lift Richemont
Richemont’s jewelry sales increased 9% year on year in the third fiscal quarter as strong growth across most of its global network offset weakness in the European market.Jewelry proceeds from Cartier, Van Cleef & Arpels and...
Retail Jan 20, 2021 Rapaport News
Everledger Lucara 30 carat diamond
Quartet Teams Up to Verify 30-Carat Diamond
Everledger has partnered with three major industry organizations to offer traceability for a 30-carat diamond from the Karowe mine in Botswana.The technology company teamed up with India-based manufacturer Hari Krishna Exports, miner Lucara Diamond...
Technology Jan 20, 2021 Rapaport News
Rio Tinto Diavik diamonds 140
Rio Tinto Output Falls Amid Argyle Closure
Rio Tinto’s diamond production fell in 2020 as the miner reduced output from its Argyle site in Australia in preparation for its shutdown.Total production slid 14% to 14.7 million carats for the full year, the...
Mining Jan 20, 2021 Rapaport News
Petra 299ct 140
Petra Rough Prices Rise to Pre-Pandemic Levels
Rough-diamond prices at Petra Diamonds’ January tender rose 8% on a like-for-like basis, returning to levels seen before Covid-19, the miner said Tuesday.The tender included about 382,000 carats of rough mined during the first fiscal half...
Mining Jan 19, 2021 Rapaport News
GSI natural lab-grown
GSI Now Testing for Undisclosed Natural Diamonds
Gemological Science International (GSI) has launched a service that tests lab-grown diamond jewelry for undisclosed natural stones, noting that mixing had become increasingly common.“During our routine grading process for laboratory-grown diamond...
Technology Jan 19, 2021 Rapaport News
Rapaport Price Statistics Review
Rapaport Publishes Diamond Price Statistics Review
RAPAPORT PRESS RELEASE, January 19, 2021, New York… The Rapaport Group has released its Diamond Price Statistics Annual Report for 2020, evaluating the performance of polished-diamond prices. The report provides an in-depth...
Polished Markets Jan 19, 2021 Rapaport
Todd Reed colored rough diamond rings from NDC hol
Diamonds in Demand Among Millennials, Gen Z
Diamond jewelry is the most desired tangible luxury product among consumers under the age of 40, second only to vacations, according to a survey by the Natural Diamond Council (NDC).The majority of demographic groups picked vacations as the...
Marketing Jan 19, 2021 Rapaport News
AGS Conclave 140
American Gem Society Announces 2021 Conclave
The American Gem Society’s (AGS) annual Conclave will return this year, with a live event in Dallas, Texas.The event will take place from September 12 to 14 at the Sheraton Dallas Hotel, AGS said last week....
Polished Markets Jan 19, 2021 Rapaport News
Luk Fook store HK 140
Mainland Recovery Can’t Save Luk Fook Sales
Sales at Luk Fook slid in the third fiscal quarter as a slump in the Hong Kong market outweighed a recovery on the mainland.Group-wide same-store sales — at branches open for at least a year — fell 29% year on year during the...
Retail Jan 19, 2021 Rapaport News
Coronavirus Updates: Impact on the Diamond Trade
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...
Polished Markets Jan 19, 2021 Rapaport News
Diamonds Do Good Rebecca Foerster 140
Alrosa US Chief to Head Diamonds Do Good
Diamonds Do Good (DDG) has named Rebecca Foerster as its new president. She will succeed Anna Martin, who is departing after a four-year term.Foerster, who is the president of Alrosa’s US operations, was elected to the position after...
Polished Markets Jan 19, 2021 Rapaport News
De Beers rough diamond
De Beers and Alrosa Raise Rough Prices
The two largest diamond miners increased prices at this week’s rough sales as demand improved due to post-holiday restocking and strong trading ahead of the Chinese New Year.De Beers raised prices by an average of 4% to 5% at its first...
Rough Markets Jan 18, 2021 Joshua Freedman
Michael Hill 140
Canada Lockdown Weighs on Michael Hill
Michael Hill’s sales slipped 2.8% in the first half of its fiscal year as a lockdown in Canada outweighed growth in the Australian market.Group revenue decreased to AUD 317.5 million ($243.6 million) during the six months ending...
Retail Jan 18, 2021 Rapaport News
Diversity study 140
Jewelry Industry Fares Well Overall on Racial Justice
Members of the US jewelry industry are happy overall with the level of racial justice and equality found across the trade, according to a diversity survey Jewelers of America (JA) and National Jeweler conducted.Nearly three-quarters of employers...
Retail Jan 18, 2021 Rapaport News
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