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Rapaport TradeWire April 2, 2020

Diamond markets under continued pressure and facing severe liquidity crisis as jewelry retail, manufacturing, trading and mining companies shut operations during COVID-19 lockdown.
Apr 2, 2020 10:44 AM   By Rapaport
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26 Nov 19 Igi Tw Banner Jewelry
Rapaport TradeWire
April 2, 2020
RAPAPORT MARKET COMMENT
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Diamond markets under continued pressure and facing severe liquidity crisis as jewelry retail, manufacturing, trading and mining companies shut operations during COVID-19 lockdown. Trading limited to online deals, with opportunistic buyers pushing for even higher discounts. 1 ct. RAPI -6.8% in March. China business reopening amid new coronavirus reality. Signet Jewelers temporarily lays off workers, settles $240M shareholder lawsuit. Alrosa allowing 100% deferrals at next week’s sale. Gem Diamonds sells $12M at new flexible rough tender for large stones. Las Vegas Couture and Antique Jewelry & Watch shows canceled. Rapaport Group announces shift to monthly publication of Rapaport Price List. The next issue of the Price List will be published on May 1.

5 Nov 2019 Gemolithos Tw Banner
RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct 0.93% -5.55% -6.50%
0.50 ct 1.03% -6.42% -9.84%
1.00 ct -0.02% -7.22% -13.32%
3.00 ct -1.58% 5.35% -10.93%
RAPI Yearly Graph
Trade Wire 600X160 April 2018
Market Reports
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United States: Large chains laying off workers and expecting lengthy store closures...
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Belgium: Lenders agree to postpone loan repayments until September 30...
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Israel: Companies with online capabilities suffering now that physical commerce has dried up...
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India: Polished production and trading drastically reduced amid nationwide quarantine restrictions to curb outbreak...
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Hong Kong: Stores have reopened but are seeing very low traffic following reports of second wave of virus cases...
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13 Nov 2019 Gia Id 100 Machine Tw Banner
Webinar: The Rapaport Price List
WITH Martin Rapaport

Martin Rapaport, chairman of the Rapaport Group, explains the role of the Rapaport Price List as a reference for high asking prices, and gives an overview of the data and resources the company uses to decide on price changes.

Social-media love in the time of corona
WITH Jewelry Connoisseur by Rapaport

Following luxury jewels is a bright spot for many in these uncertain days. Blogger Tracey Ellison lays out some dos and don’ts for maintaining a presence during the virus crisis.

UPS AND DOWNS
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Star Diamond, Rio Tinto Aim to Resolve Legal Differences
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10 Instagram Accounts Every Jewelry Lover Should Follow
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Over 100,000 Diamond Polishers Leave Surat
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Court Orders Merlin Diamonds to Be Declared Insolvent
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WEEKLY NEWS
industry
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De Beers Cancels March-April Sight
Customers unable to travel or receive shipments.
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Alrosa Allows Clients to Defer All Purchases
April sale participants can still view goods remotely and place orders.
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Signet Settles Shareholder Suit for $240M
Jeweler will pay approximately $35 million, while insurance will cover the remainder.
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Jewelry Industry Groups Create Support Network
Organizations aim to assist independent and family-owned businesses during COVID-19.
retail
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LVMH 1Q Revenue Could Fall up to 20%
Coronavirus outbreak has led to closures of production sites and stores.
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Hong Kong Retail Sales Plummet 79% in February
Tourism from mainland China dries up amid quarantine rules.
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Signet Temporarily Lays Off Workers
Macy’s and J.C. Penney have also furloughed employees.
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Virus’s Impact on Chow Sang Sang ‘Alarming’
Same-store sales down 45% in China and 44% in Hong Kong and Macau in first two months of 2020.
mining
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De Beers Cuts Venetia Workforce During Lockdown
Company will maintain certain essential activities at the South Africa site.
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Rough Prices Slide 24% at Petra Tender
Miner withdraws production outlook due to operational shutdowns.
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Lucara May Struggle to Hold Botswana Sales
Rough prices have “deteriorated” since last tender on March 5, company says.
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Lucapa Reduces Lulo Operations
Angolan president declares state of emergency through April 11.
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Gem Diamonds Flexible Tender Fetches $12M
Process will replace the miner’s rough-diamond sales while travel restrictions are in effect.
general
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More Las Vegas Trade Fairs Canceled
Couture and the Antique Jewelry and Watch Show will not take place in 2020.
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Belgian Banks Postpone Loan Repayments
Government will guarantee 12-month credit lines and has extended tax deadlines.
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De Beers CFO to Leave Company
Nimesh Patel will assume same role at UK-based Spirax-Sarco Engineering.
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GJEPC Donates $6.7M in Coronavirus Aid
Funds will go to daily-wage workers in the trade and to government efforts against the pandemic.
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Sotheby’s Online Sale Exceeds Expectations
Auction brings in $739,375, with 97% of lots finding buyers.
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Dubai Trading Center Unveils Relief Package
DMCC will waive rent for two months during mandatory closures.
Tradewire Banner April 2020 Single Stone V1
FINANCE
Diamond Industry Stock Report
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Global stocks fell as lockdowns dented consumer spending and retailers implemented mass layoffs. Macy’s (-32%), Signet (-24%), J.C. Penney (-20%), Chow Sang Sang (-7%), LVMH (-6%) and Richemont (-6%) all dropped. Walmart (+4%) continued to gain as people bought essential items. Mining shares also decreased, with Mountain Province (-18%), Gem Diamonds (-7%) and Anglo American (-5%) all losing ground. Petra Diamonds (+7%) and Alrosa (+2%) both rose.

Rapnet Trade Wire
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Tradewire Box April 2020 Single Stone V1
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