Rapaport News




Advanced search
Latest Articles
Rough Markets
Polished Markets

Rapaport TradeWire - Friday, June 26, 2009

Jun 26, 2009 1:00 AM   By Rapaport
Print Print Facebook Facebook Twitter Twitter Share Share

Rapaport TradeWire - Friday, June 26, 2009

News: Hong Kong show better than expected with decent demand from Far East and India. Strong focus on cash transactions at deep discounts. Three carat and larger sizes very weak. Indian manufacturers holding rough stock in anticipation of further price increases and production shortages. Wholesalers and retailers in the U.S. concerned that renewed market confidence will dissipate with summer vacations. Retailer David Webb FY09 sales -62% to $5 mil., files Chapter 11. Wholesaler Henry Dunay Designs files Chapter 11. Renaissance Jewellery FY09 sales +26% to $155 mil., profits -30% to $4.8 mil. Australia’s FY09 diamond production -9% to 18 mil cts., exports -24% to $399 mil. Avi Paz re-elected president of Israel Diamond Exchange.


Rapaport International Diamond Conference
New York City - September 10, 2009

Save the Date

Reserve your space early. Email IDC@diamonds.net


Retail Quote:

"[C]onsumers are dealing with issues, such as lack of credit availability, concern about job security, housing markets, and the volatility in the financial markets, I think understandably consumers pulled back. And what we're selling is a high-ticket product. As a company our average ticket for our products is about $1,600 to $1,700, and in engagement it's about $6,000. So, I think the fact that we were able to put up more than $25 million in EBITDA, more than $11 million in net income and be profitable in times like this where revenue was down in the fourth quarter, I think is a testament to our business model, and that's very important to us."

Diane Irvine
President of Blue Nile

World News:

KP Meeting Wraps Up in Namibia

Statistics from the Kimberley Process (KP) suggest that global diamond production fell 16 percent in 2008 as demand plummetted for rough stones, it was revealed during a mid-year KP general meeting in Namibia. Member state Zimbabwe told delegates that no one had been killed at the country's diamond fields, despite media reports to the contrary. Alleged abuses at the Marange were mischaracterized from a special operation that successfully cleared thousands of illegal miners from the Marange, the country's mining minister said in an address. Diamonds mined illegally from Marange had, however, made their way into the pipeline through neighboring countries, he added. Zimbabwe confirmed that it was committed to the KP and was open to receiving expert advice and technical support to improve compliance.

Bernhard Esau, KP Namibia chair, vowed to curb the flow of illicit diamonds, strengthen the security system and improve internal controls. "We will assist and support [Venezuela] to develop action plans to implement minimum standards of the Kimberley Process certification," he said. Partnership Africa Canada (PAC) has discovered ongoing diamond smuggling in Venezuela as well as tremendous descrepancies in reported imports and exports of rough diamonds in Lebanon and Guinea.

The World Diamond Council (WDC) urged governments to strengthen their commitment to the KP by enabling swift action in cases of noncompliance and to set interim suspension guidelines with clear criteria. WDC called for stronger government oversight of the diamond industry, and to adopt KP standards, as well as the WDC system of warranties, to be applied to the cutting and polishing sector.

U.S. GDP Plunges 6%, Jobless Claims Jump Again

The revised reading the country's gross domestic product (GDP) showed that the U.S. economy tumbled at a 5.5 percent pace in the first quarter, not quite as deep as the 5.7 percent annualized decline for the period reported a month ago. For the current April-June quarter, economists predict that GDP is sinking at a pace of between 1 and 3 percent. A separate report found that new jobless claims jumped unexpectedly this past week, while continuing claims for unemployment benefits rose more than expected, growing by 29,000 to 6.74 million.

Dealers Report Active Hong Kong Show

The June Hong Kong Jewellery & Gem show proved better than expected for some diamantaires, as buyers from the Far East, and India in particular, came to fill outstanding orders. Very few buyers from the U.S. and Europe were seen at the show. Sales remained conservative, and demand for larger, better goods was still weak. Nevertheless, nearly everyone agreed that the show signaled improved market conditions, considering the past six months.

China's Growth Slow but Jewelry to Surge in 2H '09
Domestic consumption of jewelry, along with automobiles and furniture, will surge in the second half of 2009, according to analysts, though foreign trade is expected to take a dive. Overall, China's economy, which has been growing by double digits, is unlikely to fully recover by the end of 2009. GDP growth will hold steady at around 8 percent for the next two quarters.

Precious Metals Exports from China in April Hold Flat

China's precious metal and precious metal jewelry exports during the month of April rose ever so slightly, up 0.3 percent to $187 million. In terms of weight, China exported 46,349 kilograms (102,182 pounds) of metal in raw and jewelry form, a drop of 11 percent from April 2008. For the January-through-April period, China has exported $659.2 million, which is 4 percent less than the same period in 2008.

Diamond News Broadcast

This week marked the 40th anniversary of a partnership between De Beers and Botswana. In celebrating the event, De Beers shared some historical photos, which are included in this broadcast. Plus, see the designs of the winner and four finalists of the 2009 HRD Awards diamond jewelry design contest organized by AWDC. The winning pieces were those that best demonstrated the artist's excellence and reflected this year's theme, “Once upon a time...my favorite fairy tale.

Retail & Wholesale:

Renaissance Jewellery Sales +26% in FY09

Renaissance Jewellery Limited reported that its net sales grew 26 percent to $154.9 million (INR 7.5 billion) for the fiscal year that ended March 31, 2009. The Mumbai-based diamond jewelry manufacturer saw net profits fall 30 percent to $4.8 million (INR 233.9 million), due to higher operating expenses. Fourth-quarter sales increased 58 percent to $78.6 million (INR 3.8 billion) during the quarter, while net profits declined approximately 27 percent to $2.7 million (INR 128.9 million).

David Webb Sales -62%, Seeks Reorg Under Chpt. 11

Retailer David Webb filed for Chapter 11 protection, citing very poor economic conditions in the U.S. According to court documents, David Webb's gross sales for the fiscal year ending June 30, 2008, were $13.2 million; however, total sales are not expected to reach $5 million as this fiscal year comes to a close on June 30, 2009. The company has assets of approximately $10.3 million, including inventory of $7 million. Liabilities stand at approximately $6.9 million.

Henry Dunay Designs Files Chpt. 11

Henry Dunay Designs filed for Chapter 11 bankruptcy protection on June 22 in New York, listing its liabilities and its assets at between $1 million and $10 million each. The jewelry design company is being represented by Jay Silverberg of Sills Cummis & Gross.

Online Sales to Save U.K. Retail from Itself

A survey by PayPal predicted that sales in in the U.K. in physical stores will plummet by up to $13.5 billion (GBP 8.3 billion) by the end of 2011 while U.K. online sales are expected to rise to $34.6 billion (GBP 21.3 billion) from just under $14.6 billion (GBP 9 billion), resulting in modest growth for overall sales. The report forecasts that from 2008 to 2011, high street sales will fall by up to 1.4 percent. Twenty-four percent of U.K. adults now believe that online shopping will become the norm and that the high street will eventually die out

Chong Hing Jewelers Revamps Website, Adds High-Res Product Images

Chong Hing Jewelers of California has launched a newly designed website, ChongHing.com, which offers fine jewelry, luxury watches, loose diamonds and gifts. Chong Hing Jewelers is an authorized dealer for a number of high-end brands, including Patek Philippe, Bulgari, Chopard, Roberto Coin and others, and the redesign enables the retailer to post high-resolution images of these product offerings.

James Avery Opens 51st Location

Jewelry retailer James Avery, which is based in Kerrville, Texas, opened its 51st location on June 19 in the northern Dallas suburb of Allen. James Avery plans a grand opening celebration on July 23 from 5 to 7 p.m., whwere it will make a donation to the Boys and Girls Clubs of Collin County, McKinney branch. The jeweler now boasts nine locations in the Dallas metro area, and plans to open more new locations in 2009, including a store in Birmingham, Alabama.

Rand Diamonds to Go Forward with Building Plans

Rand Diamonds, a subsidiary of Tiffany & Co., says that despite the economic downturn, it will go ahead with the planned building of its almost-$5 million factory adjacent to Diamond Trading Company (DTC) Botswana in Gaborone. Rand plans to complete the plant by March 2011.

Brinkley Launches Jewelry Line with Ross-Simons

Christie Brinkley has launched a new line of jewelry called CeleBrate, in collaboration with retailer Ross-Simons, in catalogs, retail stores and online at www.christiebrinkleyjewelry.com. The collection's pieces can be variously mixed, matched and layered for both casual and evening wear, and its designs include feminine floral motifs, bold southwestern-style turquoise and gold-and-diamond peace signs.

Zalemark Designs, Donates Diamond Pendant for Rolls-Royce Club

Zalemark Holding Company donated a custom-designed diamond and gold pendant to the Rolls-Royce Foundation. The pendant, which features the Rolls-Royce Owners' Club logo, will be auctioned off at the club's National Meet on June 20, 2009, in New Orleans, Louisiana.

Who is News:

Theo Fennell Founder Returns to Board

Theo Fennell, founder of Theo Fennell Plc., is rejoining the group’s board as creative director. Fennell, who recently increased his stake in the company to 19.3 percent, will be responsible for all group design, creation and promotion. Rupert Hambro and Alasdair Hadden-Paton, who both acquired shares in the company, will also join the board, as, respectively, nonexecutive chairman and deputy chairman. Richard Northcott, company chairman, and Viscount Cowdray, nonexecutive director, have resigned from their positions, but will remain on as shareholders.

Buffett Says U.S. Economy Remains Flat

Warren Buffett said on Wednesday that all the reports he sees from Berkshire's retail, manufacturing and utility businesses show the economy has remained fairly flat. The economy will still take some time to bounce back, he said, as he has not yet seen the "green shoots" of recovery that others have talked about. Buffett also complimented the efforts of the Obama administration to solve the country's economic problems, saying that although the actions they have taken will likely lead to high inflation, they were the right moves.

Paz Reelected for Third Term at IDE

Avi Paz was reelected as president of the Israeli Diamond Exchange (IDE) to serve a third term. Paz won 73 percent of the vote in the election, which took place Wednesday. Following the results, Paz said that the industry is going through a difficult period and urged the government to give it immediate emergency assistance.


Zimbabwe's Economy on the Mend

Zimbabwe's economy has turned around in the past four months. Employment and industrial capacity use has doubled and inflation is under control. The recovery follows the country's dumping of its currency to use U.S. dollars, which has helped spur foreign investment and prompted the large Zimbabwean exile community to send more remittances home. The country is likely to stabilize with an inflation rate of no more than three percent by December. Interest rates have come down, with the highest rate at 15 percent and broad borrowing costs at around 8 percent. The stock market in particular has shown rapid growth, with mining stocks up more than 240 percent since February. Foreign investors are also looking anew at mining opportunities. The country's economy is starting to register positive growth, with indications that it recorded a growth rate of 1.8 percent during the first quarter of this year.

IMF Approves $19M in Funds for Sierra Leone as Gov't Revenues Drop

The executive board of the International Monetary Fund (IMF) approved $18.8 million in funds for Sierra Leone under its Poverty Reduction and Growth Facility (PRGF) arrangement with the country. The board noted that the noticeable drop in diamond demand, Sierra Leone's main export commodity, as well as the decline in bauxite prices, have severely compressed export proceeds and reduced government revenues, weakening Sierra Leone's near-term economic prospects. The total disbursement of funds since the PRGF began in May 2006 has been about $50 million of the almost $80 million approved through 2010.

NY Dealers Club Asks for Case's Dismissal, Petitioner Counters

Attorneys for the New York Diamond Dealers Club filed an instant motion amending the club's statement from May, in which they defended the club's stance in the court case brought against the club by David Abraham, its former vice president, concerning the vote to change its bylaws. The club's lawyers now claim that Abraham had no cause of action and no standing to bring his petition, and have asked the court to dismiss the case. Attorneys for Abraham wrote a memorandum of law countering these claims, and they reiterated their previously submitted evidence showing that improper activities were perpetrated against the club's membership, resulting in the December 4 bylaws vote passing by the slimmest of margins. They asked the court to proceed with discovery, which could include depositions of club management. The club told the court that its president Jacob Banda is in a coma and in critical condition with a blood infection and renal failure, and is recovering from a heart attack and thus would not be submitting additional papers. Moshe Mosbacher is acting club president.

Expert Panel Requests Extension of UN Mission in Liberia

The midterm report of the Panel of Experts on Liberia, a group that monitors UN sanctions on the country, recommended that the UN mission, known as UNMIL, be extended to help Monrovia reestablish administration of its natural resources and authority over mining and forestry. The group also said that efforts to ensure that rough diamonds from Cote d'Ivoire do not enter Liberia must be intensified through strengthened internal controls over diamond mining and trading, as well as continued collaboration with the Kimberley Process.

Bulgari's Historic Collection on Display in Rome
A historical exhibit of more than 500 Bulgari jewelry pieces will be on display in the Palazzo delle Esposizioni in Rome through September 13, 2009, in celebration of the 125th anniversary of Bulgari's first store in the city. The show, "Between Eternity and History, 125 Years of Italian Style," which includes Elizabeth Taylor's extensive collection of Bulgari jewelry, emphasizes the cultural relevance and Italian influence of Bulgari's ever-changing designs.

Police Recover Stolen Goods from Harry Winston Heist

Police in France have made 26 arrests and recovered a series of stolen rings, necklaces and watches as part of the investigation into December's multimillion-dollar robbery at the luxury Paris jeweler Harry Winston. On Sunday, June 21, investigators, who had been monitoring suspects in and around Paris, learned that some foreign nationals were due to arrive to collect some of the stolen jewels to sell. The police made arrests on Sunday afternoon and Monday morning. They said that the arrested suspects, who are aged between 22 and 67, include a security guard at the jewelry ship, several known gangsters and several women. The Pink Panthers gang, originally thought to be responsible for the heist, is no longer suspected

Jewelers of America to Redefine Relationship With Affiliates

Jewelers of America has announced that it is redefining its relationship with its 39 affiliate state and regional jewelers associations, as its current relationship is not sustainable to cover its operating costs. Under the new partnership agreements, Jewelers of America will no longer offer the affiliates operational assistance, but will continue to maintain a positive, ongoing relationship through other educational and marketing support. Instead of having joint membership in both, member companies will now have to join or renew their membership with Jewelers of America and their local associations separately.

Special Gem Emporium Opens in Myanmar

The special Myanmar gems emporium show, where gems, jade, pearls and jewelry from the country will be available for sale by tender and through competitive bidding, opened on June 22. The sale runs until July 4 at the Myanmar Convention Centre. Myanmar started to hold gem shows annually in 1964, introducing a midyear show in 1992 and this special one in 2004.

Brilliant Gemstone Store Owner Faces Fraud Charges

Joanne Allen, 39, who owned U.K.-based website The Brilliant Gemstone Store, faces eight charges of fraud for advertisements on the site falsely claiming that its products contained gold and other precious metals. The charges were brought under the U.K.'s Hallmarking Act of 1973 and the Trade Descriptions Act of 1968.

Kimberley Process Opens Offices at Almas Tower

Operations for the Kimberley Process Certification Scheme in the United Arab Emirates (UAE) have expanded with the opening of an office at Almas Tower in Dubai.

Diamond Mining:

Australia's Diamond Production +9% in FY09

Australia’s diamond production grew 9 percent to 18.022 million carats in the current fiscal year ending June 30, 2009. The country's diamond exports dropped 24 percent to $399 million (AUD 506 million), mainly due to a reduction in average prices, which declined 24 percent to $24 (AUD 30.45) per carat. Exports by volume were flat at 16.618 million carats. The statistics bureau expects Australia’s diamond production to fall 30 percent to 12.6 million carats in the next fiscal year.

Others May Approach Anglo with a Better Offer

Anglo American on Monday rejected Xstrata's merger proposal to form a resources company worth as much as $68 billion, saying that it would provide the company with no "strategic merit" and that its terms were unacceptable. Xstrata's bid was seen by some, however, as putting Anglo in the position of being open to alternative offers. Thus rumors have begun to circulate about two new possible bidders for Anglo, Chinalco of China and Vale of Brazil. As of press time, neither Chinalco nor Vale had agreed to speak about such speculations.

ALROSA Sells to Gokhran, Diverts Profits to Expand

ALROSA reiterated its plans to sell rough to the Gokhran, expecting that proceeds will support operations during the current downturn. If all ALROSA production were to flood the market, prices would plunge 50 percent and everyone's inventory would be overvalued, the company contended. During ALROSA's annual meeting, Sergei Vybornov, the company president, was not elected to the supervisory board since the company added independent directors this year instead. New directors included Fyodor Andreyev of Russian Railways; Sergei Dubinin of VTB Capital; Anatoly Tikhonov of Vnesheconombank; Yakov Urinson of Russian Nanotechnology Corporation; and Ilya Yuzhanov of Polymetal. Shareholders also agreed not to pay dividends for 2008, as ALROSA's net profit fell 89 percent to $50.2 million. But the company decided to spend almost all of its profits on capital investments and $2.5 million will be transferred to the company's reserve fund.

Union Demands 15% Wage Increase for De Beers Miners

South Africa’s National Union of Mineworkers (NUM) has demanded a 15 percent wage increase for all miners at De Beers Consolidated Mines (DBCM), insisting on a minimum monthly wage of $616 (ZAR 5,000). The union also demanded that 70 percent of workers' medical aid be paid, a $431 (ZAR 3,500) housing subsidy and four months of paid maternity leave. Separately, Reuters reported that De Beers is close to securing a covenant waiver for $3 billion of existing loans that it is seeking in order to avoid breaching loan covenants at the end of the second quarter.

DiamondCorp Expects Price Stability for Lace Diamonds

DiamondCorp expects prices for rough diamonds from its Lace mine in South Africa to remain stable for the remainder of 2009, and does not anticipate that prices will rise until the second half of 2010. The company sold 1,533.95 carats of gem diamonds for $121,182 (ZAR 963,541), or $79 per carat, on tender in Johannesburg in May. A further 2,367.51 carats recovered earlier in the year from the Lace tailings operation sold for $111,273 (ZAR 890,368), or $47 per carat.

Bank of Namibia Slashes '09 Diamond Production Forecast

In its mid-year economic outlook, the Bank of Namibia (BoN) said that, due to low demand, the country's diamond production this year will be less than 800,000 carats, down 63 percent from more than two million carats in 2008. More than 1,900 people have lost their jobs as Namdeb was forced to scale back its operations, the bank said. In addition, sightholders of the Namibian Diamond Trading Corporation (NDTC) have stopped adding value to their diamonds, causing even more job losses.

Pala Sells 2% Stake in Rockwell, Radke Resigns

Pala Investments Holdings, which owned almost 20 percent of Rockwell Diamonds shares, sold 6.5 million common shares in Rockwell. Pala now holds a 17.2 percent stake in Rockwell. Pala also announced that Gregory Radke, its representative, resigned his post on Rockwell's board of directors on June 18, 2009.

Diavik Team Wins Mine Rescue Competition

A rescue team from the Diavik diamond mine won the 52nd annual Workers’ Safety and Compensation Commission Mine Rescue Competition in Yellowknife, Canada. Diavik competed against teams from Ekati and Snap Lake mines. The Diavik team goes on to compete at the Western Regional Competition in Fernie, British Columbia, in September 2009.

Orapa Pioneer Hopes for Another Big Find in Ngamiland

Manfred Marx, who was among the group of geologists who the discovered Orapa and Letlhakane mines in the late 1960s, is confident that another Orapa could be hidden in the sands of western Ngamiland. Marx now works as a consulting geologist for MountBurgess Mining, which has eight exploration licenses in Botswana covering 7,000 square kilometers (2,703 square miles). According to reports from MountBurgess, kimberlites detected thus far in Ngamiland compare favorably with those known to exist in African Diamonds' prospecting areas.

Econ Watch: 

$1 = Euro0.7150.719-0.004 
$1 = Rupee48.548.10.4 
$1 = Israel Shekel3.963.960.00 
$1 = Rand8.028.17-0.15 
$1 = Canadian Dollar1.161.130.03 
Precious Metals    
Stock Indexes   Chng.
Dow Jones Avg.8,472.408,555.60-83.20-0.97%
Hang Seng18,275.0317,776.66498.372.80%
S & P 500920.26918.371.890.21%
Yahoo! Jewelry Index709.39699.539.861.41%
Birks & Mayors$0.60$0.65-$0.05-7.69%
Blue Nile $42.53$40.50$2.035.01%
Charles & Colvard $0.49$0.52-$0.03-5.79%
DGSE Companies, Inc.$1.16$1.10$0.065.45%
Fuqi International$15.80$16.13-$0.33-2.05%
JCPenney $28.20$25.90$2.308.88%
Kohl's $44.43$43.69$0.741.69%
Lazare Kaplan $2.28$2.32-$0.04-1.72%
LJ International$1.61$1.74-$0.13-7.47%
Man Sang$2.32$2.40-$0.08-3.33%
Movado Group$10.95$11.03-$0.08-0.73%
Nordstrom $19.61$18.98$0.633.32%
Saks $3.99$3.87$0.123.10%
Signet $19.74$18.49$1.256.76%
Tiffany $25.81$25.73$0.080.31%
Wal-Mart $49.15$48.68$0.470.97%
Zale $3.54$3.31$0.236.95%
Bijou Brigitte€91.20€94.01-€2.81-2.99%
Golay-BuchelCHF 1,750.00CHF 1,625.00CHF 125.007.69%
LVMH €55.06€55.83-€0.77-1.38%
Pinault P-R SA€56.90€55.30€1.602.89%
Richemont SACHF 22.14CHF 21.84CHF 0.301.37%
Swatch GroupCHF 168.00CHF 165.70CHF 2.301.39%
Theo Fennell (pence)35.0030.204.8015.89%
INDIA (rupee)    
Classic Diamond17.0516.400.653.96%
Gitanjali Gems107.80112.90-5.10-4.52%
Rajesh Exports41.7543.70-1.95-4.46%
Ren. Jewellery 45.7032.5013.2040.62%
Su-Raj Diamonds36.0535.001.053.00%
Zodiac JRD16.9516.700.251.50%
Suashish Diamonds177.60182.90-5.30-2.90%
Michael HillNZD 0.68NZD 0.68NZD 0.000.00%
(pence unless noted)    
Anglo American$15.21$13.00$2.2117.00%
ArchangelCAD 0.06CAD 0.05CAD 0.0110.00%
Harry WinstonCAD 6.96CAD 7.00-CAD 0.04-0.57%
Mountain ProvinceCAD 1.78CAD 1.78CAD 0.000.00%
Peregrine DiamondsCAD 0.64CAD 0.59CAD 0.058.47%
Rockwell DiamondsCAD 0.06CAD 0.07-CAD 0.01-15.38%
Shore GoldCAD 0.48CAD 0.55-CAD 0.07-12.73%
Stornoway DiamondCAD 0.14CAD 0.16-CAD 0.02-12.90%
True North GemsCAD 0.13CAD 0.14-CAD 0.01-7.14%
UK (pence)    
African Diamonds23.124.3-1.2-4.74%
BHP Billiton1,370.41,378.0-7.7-0.56%
Firestone Diamonds32.536.6-4.1-11.20%
Gem Diamonds151.5168.3-16.8-9.96%
Gemfields 6.67.0-0.4-5.71%
Mano River 3.94.0-0.1-3.00%
Mwana Africa7.18.4-1.2-14.73%
Namakwa Diamonds40.041.7-1.7-4.03%
Petra Diamonds35.538.0-2.5-6.68%
Rio Tinto plc2,080.02,055.824.21.18%

Polished: Overall, there is steady demand in the local polished market, with price differences increasing after the recent hike in rough prices.
-1 point:Good demand: +$250 whites.
Fair demand: $100-$225 whites; $250-$350 TTLC.
-2 point:Good demand: +$250 whites.
Fair demand: $100-$225 whites; $300-$350 TTLC.
2-7 point:Good demand: +$250 whites.
Fair demand: $100-$225 whites; $300-$400 TTLC.
8-18 point:Good demand: +$400 whites.
Fair demand: $200-$350 whites; $350-$450 TTLC.
20 points:Fair demand: +$600 whites.
25 points:Fair demand: +$700 whites.
33 points:Fair demand: +$900 whites.
50 points:Good demand: $1000-$1500 & +$2000 whites.
Fair demand: $300-$800 whites.
75 points:Good demand: +$2000 whites.
1 carat+:Very good demand: +$2000 whites.
Good demand: $800-$1500 whites.
-3 point:Good demand: $300-350 whites.
Fair demand: $200-$275 whites.
+3 point:Good demand: $350-$400 whites.
Fair demand: $200-$300 whites.
+9-18 point:Good demand: +14 pts $550-$600 whites.
20 point:Fair demand: $700-$750 whites.
25 point:Fair demand: $800-$850 whites.
50 point:Good demand: $1600-$1,800 whites.
75 point:Fair demand: $1,000-$1,200 whites.
1 carat+:Good demand: +$1,500 whites.
-6 point: Good demand: $400-$500 whites.
Fair demand: $250-$350 whites.
+7-18 point:Good demand: $600-$700 & +14 pts $800-$850 whites.
Fair demand: $250-$400 whites.
20 point:Fair demand: $900-$1,000 whites.
25 point:Fair demand: $1,100-$1,200 whites.
33 point:Fair demand: $1,300-$1,500 whites.
50 point:Fair demand: $1,600-$1,800 & $600-$700 whites.
75 point:Fair demand: $1,100-$1,400 & $2,600-$2,800 whites.
1 carat+: Good demand: $300-$600 & +$1,200 whites.
Tapers & Baguettes
Fair demand: $600-$800 +5mm whites. $250-$325
2mm-2.5mm whites; $350-$400, 2.5mm-3mm whites;
             $400-$450 3mm-4mm, $500-$600 4mm –
             5mm & $175-$250 +2mm-3mm whites.
ROUGH: The rough market is very hot, with an increase in rough prices and shortages in supply in Antwerp. Sellers are demanding cash for all transactions.
1-5 point:Good demand: $75- $120 makeables; $90-$180 crystals.
$30-$60 makeables.
Fair demand: $7-$20 & $40-$80 OW TTLB & TTLC.
6-20 point:Good demand: $130-200 crystals; $70-$160 makeables.
Fair demand: $40-$50 clivage;
Fair demand $50-$100 fancy shapes;
$50-$90 OW TTLC & TTLB rounds.
21-50 point: Good demand: $210-270 makeables; $90-$170 & $220-$300 crystals.
Fair demand: $90-$190 rounds; $50- $90 clivage.
Fair demand: $70-$180 fancy shapes;
Fair demand $20-$40 OW TTLC & TTLB.
0.51-1.00 carat: Good demand: $160-$320 makeables;
$120-$240 & $270-$440 crystals.
Fair demand: $70-$100 makeables; $40-$70 clivage;
Fair demand $50-$100 fancy shapes;
Fair demand $60-$90 OW TTLC & TTLB.
1.01-2.00 carat:Good demand: $220-$550 rounds;
$220-$650 crystals;
Fair demand $140-$180 OW TTLC & TTLB.
$90-$130 clivage; $170-$350 all fancy shapes.
2.01-3.00 carat:Good demand: $200-$1,000 makeables; $300-$1,400 crystals
Fair demand: $250-$325 clivage; $100-$325 flats & TTLC & TTLB
$350-$800 OW & $400-$800 fancy shapes.
5.00 carat+: Good demand: $1,000+ makeables, crystals & all fancy shapes till L color.
Mixed Lot:Good demand: $2-$30.

==== TradeWire Notices And Restrictions ====

=== Providing News ===

If you have any news that may be of interest to our readers, please send your information via email to news@diamonds.net. You may also call our editorial department at 1-212-354-9100 ext. 245.

=== Share Your Opinions ===

The Rapaport TradeWire encourages readers to share their views. Please send an Email to news@diamonds.net if you would like to share your views on any subject related to the diamond, gem and jewelry industry.

=== Sharing the TradeWire ===

If you know anyone that would enjoy receiving the Rapaport TradeWire please ask them to register for the TradeWire Email service by visiting our web page at www.diamonds.net or by sending email to tradewire@diamonds.net. Please do not forward the TradeWire to others as this is a violation of our Copyright.

=== Privacy ===

The Rapaport Group of Companies does not sell, rent or distribute names, telephone numbers, email addresses, or any personalized information to any third parties. Personal information provided to any organization or service associated with the Rapaport Group of Companies will be held in the strictest confidence and not be disclosed to any third parties unless require to do so by a court of law.

=== Important Copyright Notice ===

(C) 2009 by Martin Rapaport. All rights reserved.

This Rapaport TradeWire Email Service is provided solely for your personal reading pleasure. No part of the text in this Email may be copied, transferred, transmitted, distributed, recompiled, or published in any manner or form without the express written permission of the copyright holder.

Readers are expressly warned not to use, copy, transfer, transmit, distribute, reproduce, recompile or publish any information contained in this email for any commercial purpose or in any manner that could compete with any service provided by the Rapaport Group or harm the business interests of the Rapaport Group of Companies. The Service and the information contained herein may not be used to construct a database of any kind. Rapaport reserves the right to limit the distribution and use of our TradeWire in any manner we see fit.

Rapaport®, TradeWire®, Index® and JNS® Jewelry News Service are registered trademarks. You may not use or exploit any of Rapaport's trademarks, tradenames, service marks or the Rapaport Price List in any manner which creates the impression that such names, marks and the price list belong to or are associated with you or are used with Rapaport’s consent unless express written permission is provided.

If you would like permission to use this TradeWire in any manner other than for your personal reading pleasure please send an email to legal@diamonds.net

Thank you for respecting our intellectual property rights.

=== Removal From TradeWire Email List ===

You are receiving this Rapaport TradeWire because you have requested or because you are a subscriber to Rapaport services. If you do not wish to receive this weekly TradeWire please send an email to stopmail@diamonds.net or contact us by postal mail or phone. (+1) 702-893-9600.
This TradeWire was sent to you using your @@ToEmail@@ email.

Attn: Tradewire subscriptions
Suite 100
133 E Warm Springs Road
Las Vegas, NV

Print Print Facebook Facebook Twitter Twitter Share Share
Tags: African Diamonds, Alrosa, Anglo American, Australia, AWDC, BHP Billiton, Bulgari, China, Compliance, Consumers, De Beers, DiamondCorp, Diavik, DTC, Dubai, Economy, Firestone, Gem Diamonds, Gokhran, Government, Guinea, Harry Winston, Hong Kong, HRD, India, International Monetary Fund, Israel, Israel Diamond Exchange, Jewelers of America, Jewelry, Kimberley Process, Lazare kaplan, LVMH, Manufacturing, Michael Hill, Movado, Myanmar, Namdeb, Namibia, National Union of Mineworkers (NUM), NY Dealers Club, Petra Diamonds, Polishing, Production, Richemont, Rio Tinto, Rockwell, Sightholders, Signet, Sotheby's, South Africa, Theo Fennell, Tiffany, Titan, World Diamond Council, Zale, Zimbabwe
Similar Articles
Williamson processing plant mine PetraPetra Launches Probe into Violence Claims
Nov 12, 2020
Petra Diamonds is investigating allegations that security guards at its Williamson...
Alrosa Gives Cautious 2021 Production Outlook
De Beers to Stop Production at Botswana Mine
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First

Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
twitter twitter
About Rapaport
Advertise with us