Rapaport TradeWire May 5, 2022

May 5, 2022

Rapaport Weekly Market Comment - May 5, 2022 News: Diamond market split. Suppliers to large US jewelers doing well but dealer trading cautious following recent price declines. 1 ct. RAPI -3.2% in April. Cutters and dealers with US clients separating Russian supply to meet American obligations. China slow. Rough demand weaker despite removal of Russian goods from market. Alrosa postpones sales and will sell to Russia's Gokhran to raise liquidity. De Beers prices stable at May sight. Petra Diamonds reports rough prices -24% at $86M April tender. Jewelers upbeat ahead of Mother's Day weekend. Sotheby's HK sells $38M, with cushion, 3.27 ct., fancy-vivid-blue diamond ring going for $5.3M ($1.6M/ct.). AGS elects Lisa Bridge as president.

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RAPNET DIAMOND INDEX (RAPI™) Size Weekly Monthly Y2Y 0.30 ct 0.1% -1.8% 0.3% 0.50 ct -0.3% -2.1% 9.7% 1.00 ct -0.1% -2.8% 23.8% 3.00 ct -0.6% -2.6% 27.6%

Market Reports United States: Difficult to find top-quality goods due to shortages in key categories… Belgium: Dealers doing business but anxious to see how US sanctions affect demand from jewelers… Israel: Steady demand for 1 to 1.50 ct., G-J, VS-SI goods… India: Manufacturing levels down due to lower rough availability… Hong Kong: Sentiment weak as Covid-19 continues to restrict trade and jewelry retail sales…

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Podcast: Ethical Sourcing and the Buzz About Blue The latest episode of the Rapaport Diamond Podcast looks at the implications of ethical sourcing for the industry in light of sanctions on Russia. The editorial team also discusses the relatively positive retail outlook and the growing excitement about the upcoming auctions.

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The Man Trying to 'Democratize' Diamond Cutting Swiss technology company Synova believes its automated manufacturing system could reduce the need for human polishers and open up the market to new participants. But will it end up destroying the trade? Founder and CEO Bernold Richerzhagen answers this and other pressing questions.

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Top Stories of the Week Diamond Trading Reflects Market Split RapNet Diamond Index (RAPI) for 1-carat goods down 3.2% in April.   SEE MORE   Alrosa Poised to Sell Diamonds to Gokhran Timing and value of transaction still undecided, reports say.   SEE MORE   Christie's to Auction $18M D-Flawless Diamond Emerald-cut, 103.49-carat stone will headline New York Magnificent Jewels sale.   SEE MORE   "> Brilliant Earth Pulls Ad After Blue Nile Complaint Offer of "free diamond earrings" was misleading, since the items were lab-grown, argues latter retailer.   SEE MORE   Sotheby's Garners $38M at Hong Kong Sale Jadeite and diamond parure is top seller, achieving $5.9 million.   SEE MORE   Petra Prices Slide 24% at Rough Tender Ukraine situation dents demand at April sale.   SEE MORE   Pandora Posts Record First-Quarter Revenue Sales benefited from Valentine's Day purchases and takeover of franchise stores.   SEE MORE

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