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Rapaport TradeWire April 30, 2020

Diamond trading limited as some centers start to ease lockdown restrictions.
Apr 30, 2020 11:41 AM   By Rapaport
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Rapaport TradeWire
April 30, 2020
RAPAPORT MARKET COMMENT
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Diamond trading limited as some centers start to ease lockdown restrictions. Dealers and manufacturers focusing on how to reduce inventory, with more than enough rough and polished in the pipeline to satisfy demand. Outlook uncertain as US economy shrinks 4.8% in 1Q. Miners cut 2020 production plans and India prepares voluntary 30-day pause in rough imports. Marketers to focus on bridal as pandemic highlights important relationships. De Beers expects tighter consumer budgets will signal shift to fewer, better-quality diamond purchases. Rapaport Flash Sale Jewelry Auction – May 5-6 (Tue.-Wed.). New TradeSheet featuring Rapaport Discount Prices launched today.

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RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct -0.31% -0.82% -5.82%
0.50 ct -0.16% -0.48% -9.09%
1.00 ct 0.32% -0.06% -12.57%
3.00 ct -0.73% -5.01% -11.80%
RAPI Yearly Graph
Trade Wire 600X160 April 2018
Market Reports
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United States: Conference Board Consumer Confidence Index down 27% to 86.9 in April, its lowest reading in nearly six years...
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Belgium: Dealers anticipate limited new rough supply in next two months...
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Israel: Some dealers return to offices as government eases restrictions...
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India: Cutters have enough rough to resume factory operations, but plan very gradual restart due to required social-distancing measures and low demand...
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Hong Kong: Some pent-up demand for luxury products, but overall consumer spending cautious...
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Rapaport Launches New Trade Sheet
WITH Martin Rapaport

Rapaport has introduced its new TradeSheet featuring Rapaport Discount Prices, with percentage discounts in relation to the Rapaport Price List. The new feature is designed to provide useful information to diamond experts about discount levels from the Price List.

How the Pandemic Is Changing De Beers
WITH The Rapaport Diamond Podcast

In the latest episode of the Rapaport Diamond Podcast, Senior Analyst Avi Krawitz speaks with De Beers executives Stephen Lussier and David Prager about the impact of the coronavirus on the diamond market, the company’s response, and that of the industry.

Rough Market Faces Its Toughest Year Yet
WITH Avi Krawitz

Diamond miners are encountering unprecedented challenges in 2020, as rough demand has ground to a halt during the COVID-19 crisis. We examine market prospects for the remainder of the year, and the long-term implications of the current environment.

UPS AND DOWNS
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Lightbox Sending Restaurant Meals to Hospitals
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Minister: Zimbabwe Diamond Output Fully Accounted For
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Signet Customers Say Rings Stuck in Corona ‘Jewelry Jail’
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India Jewelers Expect Akshaya Tritiya Sales Flop
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WEEKLY NEWS
industry
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De Beers Offers 100% Deferrals at May Sight
Alrosa also maintains full flexibility amid rock-bottom rough demand.
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India’s Cutting Sector Faces Decade-Low Revenues
Global downturn has led to fall in polished prices and an inventory buildup, says ratings agency Crisil.
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Sotheby’s Breaks Record at Online Jewelry Sale
Cartier tutti frutti bracelet fetches $1.3 million.
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US Polished Imports Show Pre-Virus Slump
Shipments down 26% for the first two months of the year.
retail
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Mother’s Day Jewelry Purchases Set to Rise
Consumers said they would spend $5.27 billion on the category this year, according to National Retail Federation.
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Robert Buchbauer Takes Helm at Swarovski
Company founder’s great-great grandson becomes CEO in management reorganization.
mining
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Dominion Asks for More Time to Repay Debts
Miner files for one-month extension to insolvency protection.
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Gem Diamonds Restarts Letšeng Operations
Lesotho government opens mining sector despite national lockdown.
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Lucapa Revenue Drops in First Quarter
Sales dented by decline in average price of rough from Lulo mine.
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De Beers Donates to Women’s Support Groups
Money will help those vulnerable to domestic violence due to COVID-19.
general
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Sarine Warns of Severe Earnings Impairment
Maker of cutting equipment expects revenue to drop in second and third quarters.
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Christie’s Online Jewelry Auction Sells Out
Company garners $1.4 million, with 81% of items beating their high estimates.
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Belgian Exports Slump as COVID-19 Hits US
Polished shipments to UAE, Israel and Switzerland also fall in March.
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FINANCE
Diamond Industry Stock Report
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Global stocks rose this week, as many markets reopened for business and investors bet on an economic rebound. Signet (+40%), Macy’s (+21%), J.C. Penney (+9%), Pandora (+8%), Luk Fook (+7%) and Richemont (+6%) all climbed. Mining also had a strong week, with Gem Diamonds (+11%), Anglo American (+6%) and Lucara (+2%) increasing. Lucapa (-13%) fell after reporting a drop in revenue in the first quarter.

Rapnet Trade Wire
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