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Rapaport Weekly Market Comment
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China slowdown affecting global sentiment. Diamond markets quiet as coronavirus reduces value across the supply chain. Chinese and Hong Kong jewelers remain closed and lack of Chinese tourism likely to impact European and...
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Polished Markets
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Feb 20, 2020
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Rapaport News
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India: Demand Slow and Liquidity Tight
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Sentiment low owing to tight liquidity and slow polished demand. Buyers seeking discounts and looking for desperate sellers. Dealers maintaining weak 1H outlook, with concerns Chinese jewelers will return large volume of unsold...
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Research
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Feb 20, 2020
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Rapaport News
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Research
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Feb 20, 2020
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Rapaport
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Podcast: How Big a Threat is the Coronavirus?
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With the coronavirus dominating headlines since late January, the Rapaport Diamond Podcast looks at its potential impact on the diamond and jewelry market — spanning the retail sector, manufacturers and miners. In addition, Rapaport...
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Polished Markets
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Feb 20, 2020
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Rapaport News
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Signet Launches First Spanish-Language Ads
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Signet Jewelers has introduced its first foreign-language advertising campaigns in the US market, targeting the growing number of Hispanic millennials expected to marry in the coming years.“They are a big customer group, and getting a lot bigger...
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Retail
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Feb 20, 2020
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Leah Meirovich
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US Keeps Swiss Watch Exports Afloat
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Swiss watch exports rose in January as demand in the US continued to increase, propelling the country past Hong Kong to become the largest importer of the luxury product.Shipments to all countries grew 9% to CHF 1.79 billion ($1.82 billion)...
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Retail
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Feb 20, 2020
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Rapaport News
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De Beers Optimistic After 2019 Earnings Slump
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De Beers gave a positive outlook for 2020 due to an improvement in the industry’s inventory situation, despite growing concerns about Chinese demand.Early data from the holiday season indicate midstream stock levels are more balanced...
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Mining
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Feb 20, 2020
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Rapaport News
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Rio Tinto’s Canada Deal Hits Trouble
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Star Diamond Corporation has accused Rio Tinto of not complying with the terms of a joint-venture agreement for operating the Star-Orion South exploration project in Canada. In 2017, Rio Tinto entered into a deal with the...
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Mining
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Feb 19, 2020
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Rapaport News
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Lucapa Closing In On Diamond Source
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Lucapa Diamond Company is coming closer to finding the kimberlite source of its high-quality alluvial diamonds. it said Wednesday.The miner will drill seven new kimberlites located just upstream of the high-value portion of its Lulo mine...
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Mining
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Feb 19, 2020
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Rapaport News
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L.J. West Buys Pink-Purple Alrosa Diamond
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New York-based diamond collector and wholesaler L.J. West has purchased a 6.21-carat fancy-intense-pink-purple diamond from Alrosa.The stone, one of three the Russian miner cut and polished from a 20.18-carat rough it found in one of its...
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Polished Markets
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Feb 19, 2020
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Leah Meirovich
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Peter Meeus Bids Again for HRD Antwerp
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Former HRD Antwerp chief Peter Meeus has made a second offer to buy the Belgian laboratory, after its owners rejected his initial proposal.“I’m going straight to the Hoveniersstraat 22 to [deposit] my new bid,” Meeus said...
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Polished Markets
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Feb 19, 2020
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Joshua Freedman
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How to Build a Strong Retail Community
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Just a few generations ago, jewelry stores were mom-and-pop shops at the heart of their local communities. While technology has opened the market to a wider audience and added many positive elements to the jewelry-purchasing process,...
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Retail
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Feb 18, 2020
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Leah Meirovich
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DMCC Debuts New Diamond-Boiling Facility
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Trigem, a service provider to the diamond industry, has launched a new boiling plant at the Dubai Multi Commodities Centre (DMCC) that will have the capacity to process 1.4 million carats of rough each month.The facility,...
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Rough Markets
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Feb 18, 2020
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Rapaport News
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De Beers Adds Grading Specs for Lightbox
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Lightbox has added grading information for its synthetic white diamonds in an effort by the De Beers brand to bring further transparency to the lab-grown sector.The company will provide technical specifications showing the minimum quality of its...
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Retail
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Feb 18, 2020
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Rapaport News
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Coronavirus Impact May Reach US Retail
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US retail sales could face growth challenges in February as supply chains are impacted by shutdowns at Chinese factories due to the coronavirus epidemic, the National Retail Federation (NRF) said.Imports of goods from the mainland will see...
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Retail
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Feb 17, 2020
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Rapaport News
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Gold Demand Lifts Mood at India Jewelry Show
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Exhibitors at IIJS Signature in Mumbai expressed confidence India’s wedding tradition and enduring love of gold would help the nation’s jewelry industry overcome its current difficulties.Economic uncertainty, high gold prices, tight regulation and...
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Polished Markets
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Feb 17, 2020
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Joshua Freedman
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Challenging Market Weighs on Petra
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Shares in Petra Diamonds slipped 16% in early trading Monday after the miner reported a net loss for the first fiscal half, and warned of operational problems that could affect annual production.The company reported...
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Mining
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Feb 17, 2020
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Rapaport News
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Angola’s Annual Rough Revenue Rises
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Revenue from Angola’s national diamond-trading company, Sodiam, rose 6% in 2019 as the company sold a higher volume of rough goods.Proceeds for the year came to $1.3 billion from the sale of 9 million carats of rough diamonds, compared...
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Mining
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Feb 16, 2020
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Rapaport News
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Gem Diamonds Sees Sales Decline in 2019
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A drop in the recovery of large stones and a decline in the average price achieved for rough from the Letšeng mine led to a decline in sales for Gem Diamonds in 2019.Proceeds fell 32% to $182.1 million, the miner...
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Mining
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Feb 16, 2020
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Rapaport News
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Star Rays Outlines Plan to Be Carbon-Neutral
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Star Rays revealed its intention to be the first Indian diamond company to become carbon-neutral, arguing that greener credentials will help attract consumers to the product.The Mumbai-based manufacturer aims to reduce travel, produce less plastic...
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Manufacturing
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Feb 16, 2020
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Joshua Freedman
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