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Rapaport Weekly Market Comment
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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...
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Polished Markets
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Jan 21, 2021
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Rapaport News
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Research
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Jan 21, 2021
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Rapaport
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Alrosa Sales Surge in Final Months of Year
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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...
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Mining
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Jan 21, 2021
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Rapaport News
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Women’s Jewelry Association Names New President
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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,...
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Polished Markets
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Jan 21, 2021
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Rapaport News
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IGI Lab-Grown Reports to Indicate Treatments
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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...
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Polished Markets
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Jan 21, 2021
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Rapaport News
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India Polished Exports Drop 31% in 2020
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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...
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Polished Markets
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Jan 21, 2021
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Rapaport News
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Resurgent Jewelry Sales Lift Richemont
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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...
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Retail
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Jan 20, 2021
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Rapaport News
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Quartet Teams Up to Verify 30-Carat Diamond
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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...
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Technology
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Jan 20, 2021
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Rapaport News
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Rio Tinto Output Falls Amid Argyle Closure
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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...
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Mining
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Jan 20, 2021
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Rapaport News
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Petra Rough Prices Rise to Pre-Pandemic Levels
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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...
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Mining
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Jan 19, 2021
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Rapaport News
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GSI Now Testing for Undisclosed Natural Diamonds
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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...
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Technology
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Jan 19, 2021
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Rapaport News
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Rapaport Publishes Diamond Price Statistics Review
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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...
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Polished Markets
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Jan 19, 2021
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Rapaport
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Diamonds in Demand Among Millennials, Gen Z
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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...
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Marketing
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Jan 19, 2021
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Rapaport News
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American Gem Society Announces 2021 Conclave
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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....
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Polished Markets
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Jan 19, 2021
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Rapaport News
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Mainland Recovery Can’t Save Luk Fook Sales
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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...
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Retail
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Jan 19, 2021
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Rapaport News
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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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Jan 19, 2021
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Rapaport News
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Alrosa US Chief to Head Diamonds Do Good
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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...
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Polished Markets
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Jan 19, 2021
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Rapaport News
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De Beers and Alrosa Raise Rough Prices
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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...
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Rough Markets
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Jan 18, 2021
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Joshua Freedman
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Canada Lockdown Weighs on Michael Hill
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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...
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Retail
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Jan 18, 2021
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Rapaport News
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Jewelry Industry Fares Well Overall on Racial Justice
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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...
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Retail
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Jan 18, 2021
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Rapaport News
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