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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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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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Podcast: Digital or Bust?
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Diamond and jewelry companies have raised the stakes when it comes to using online platforms to engage with clients and consumers. But what does it mean to be digitally relevant in today’s ever-changing e-commerce and social-media space?In...
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Marketing
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Jan 18, 2021
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Rapaport News
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