RAPAPORT. Jewelry sales in the US rose in February, buoyed by January’s government-stimulus payments and Valentine’s Day gift giving, according to Mastercard SpendingPulse.
Sales in the category increased 6% year on year during the “month of love,” Mastercard said last week in a data release. E-commerce revenue soared 63%, while spending in all categories climbed 4.6% in total and grew 55% online. “The infusion of stimulus payments in early January appeared to boost consumer spending in January and through early February,” Mastercard said.
Most states saw a jump in consumer spending, but a series of winter storms across the south affected sales in the area. Many cities in Texas saw year-on-year declines of 35% to 50% on February 17 amid freezing temperatures and power outages. The storms also affected online sales in the state. Since Texas typically accounts for approximately 10% to 11% of total US retail sales volume, the freak weather had a 2.2% negative impact on
RAPAPORT. Petra Diamonds has sold a 299.3-carat rough stone to Stargems for $12.18 million, after recovering the diamond at its Cullinan mine in South Africa earlier this year.The “exceptional” white, type IIa, gem-quality diamond fetched $40,701 per carat, exceeding the $34,386 per carat.
RAPAPORT. Alrosa has raised its production outlook for 2021 after rough-diamond demand picked up at the start of the year.
The Russian miner plans to recover 31.5 million carats this year, an increase from its previous forecast of 28 million to 30 million carats, it said Tuesday. That would result in a 5% jump in output versus the 30 million carats Alrosa produced in 2020.
“When we report out first-quarter results, investors will be surprised by the low level of inventory our company will have,” Alrosa CEO Sergey Ivanov said in a conference call following the release of the miner’s full-year earnings. “Not only our company, but the industry is low on rough.”
China saw strong growth in platinum-jewelry demand in the fourth quarter of 2020, as the economy began to rebound from the coronavirus pandemic, Platinum Guild International (PGI) reported.Demand for branded collections grew by up to double-digit figures in the country compared to the same.
Login diamonds.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from diamonds.net Daily Mail and Mail on Sunday newspapers.