RAPAPORT… The diamond and jewelry trade had a relatively successful holiday season, considering the difficult consumer and trading conditions it experienced in 2020. However, rough and polished inventories remain at reasonable levels, even though production has increased and trading has improved, Rapaport Senior Analyst Avi Krawitz explained in the quarterly Diamond Trends Webinar last week.
While jewelry sales are expected to recover gradually from the impact of the pandemic, mining companies are being cautious. Rough output is anticipated to stabilize at lower levels than before the pandemic — particularly given the closure of the high-volume Argyle mine in November 2020.
View the full webinar here:
Image: Workers leave the Argyle mine on its final day of production. The closure of the site will contribute to a decline in global rough production. (Rio Tinto)
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