Rapaport TradeWire June 2, 2022

Diamond Jewelry June 02, 2022
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June 2, 2022
 
Rapaport Weekly Market Comment - June 2, 2022

News: Rising expectations for Las Vegas shows. US demand supporting market despite economic caution. China sluggish but starting to return from Covid-19 lockdown. Polished prices stabilizing amid inventory decline in select categories. 1 ct. RAPI -0.5% in May. Small rough strong; tender prices high as Russian sanctions leave supply gap. Some big cutters buying Alrosa goods. Traders anticipate large De Beers sight next week. Asian Star FY revenue +73% to $570M, profit +47% to $13M. Debswana appoints Andrew Maatla Motsomi managing director. Rapaport to host annual Las Vegas breakfast and Social Responsibility Conference on Sunday, June 12. Register at rapaport.com/jck22. Take the Rapaport survey here.
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RAPNET DIAMOND INDEX (RAPI™)
Size Weekly Monthly Y2Y
0.30 ct 0.0% 0.6% -0.1%
0.50 ct -0.1% -0.1% 8.1%
1.00 ct 0.0% -0.5% 22.0%
3.00 ct 0.5% -0.1% 26.0%
Market Reports
<p><strong>United States: </strong>Dealers preparing for Las Vegas shows with hope the fairs will boost sentiment for second half of 2022…</p>
United States: Dealers preparing for Las Vegas shows with hope the fairs will boost sentiment for second half of 2022…
<p><strong>Belgium:</strong> Premiums on secondary rough market high ahead of next week's De Beers sight (June 6 to 10)…</p>
Belgium: Premiums on secondary rough market high ahead of next week's De Beers sight (June 6 to 10)…
<p><strong>Israel:</strong> Shortages supporting price levels, but demand cautious in key retail markets…</p>
Israel: Shortages supporting price levels, but demand cautious in key retail markets…
<p><strong>India: </strong>Polished production levels low due to summer vacation, weak Chinese demand and lack of Russian rough…</p>
India: Polished production levels low due to summer vacation, weak Chinese demand and lack of Russian rough…
<p><strong>Hong Kong: </strong>Wholesale and retail jewelers more optimistic as local economy resumes activity after pandemic restrictions…</p>
Hong Kong: Wholesale and retail jewelers more optimistic as local economy resumes activity after pandemic restrictions…
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How the War Has Shaken Up Diamond Supply
By Joshua Freedman

With less Russian rough available, the industry is experiencing a decline in inventory. But because demand is mixed, only a few categories are seeing real shortages, explains Shimon Gerstensang, the Rapaport Group's in-house expert on the diamond market.
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Podcast: With Thomas Faerber and Ronny Totah

Fresh off the GemGenève show, the event's founders join Rapaport's Avi Krawitz to discuss the trends they saw there.
Listen Now
 
Retail in the Digital Age
Special Supplement

How can technology help stores carry out marketing, handle consumer data and protect against cyberattacks? Industry professionals explain in this in-depth report sponsored by RDI Diamonds.
Check It Out
Top Stories of the Week
<p>101.41-carat Juno expected to fetch more than $10 million, while 111.59-carat Earth Star has high estimate of $2.5 million.</p>
Two Diamonds over 100ct. to Lead Sotheby's NY
101.41-carat Juno expected to fetch more than $10 million, while 111.59-carat Earth Star has high estimate of $2.5 million.

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<p>Billionaire Hussain Sajwani's Damac Group buys bankrupt company in effort to expand high-end portfolio.</p>
Dubai Firm Scoops Up Luxury Jeweler De Grisogono
Billionaire Hussain Sajwani's Damac Group buys bankrupt company in effort to expand high-end portfolio.

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<p>Andrew Maatla Motsomi to take helm at De Beers-Botswana joint venture.</p>
Debswana Names New Managing Director
Andrew Maatla Motsomi to take helm at De Beers-Botswana joint venture.

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<p>Agreement eliminates certain customs duties on jewelry and diamonds.</p>
Israel, UAE Sign Tariff Deal
Agreement eliminates certain customs duties on jewelry and diamonds.

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<p>OrigemA will carry out pilot project in Democratic Republic of Congo.</p>
Provenance Program for Artisanal Miners Launches
OrigemA will carry out pilot project in Democratic Republic of Congo.

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<p>Sales of jewelry and other hard-luxury goods up 14% in April.</p>
Hong Kong Retail Gets Lift from Govt. Stimulus
Sales of jewelry and other hard-luxury goods up 14% in April.

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<p>Supply to Asia decreased 6% in April amid stringent Covid-19 restrictions.</p>
China Slowdown Hits Swiss Watch Exports
Supply to Asia decreased 6% in April amid stringent Covid-19 restrictions.

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<p>Miner discovered 125-carat, high-quality diamond on May 31.</p>
Letšeng Yields Second Rough over 100ct. This Year
Miner discovered 125-carat, high-quality diamond on May 31.

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<p>Sales up 73% in fiscal 2022.</p>
Asian Star Full-Year Revenue Skyrockets
Sales up 73% in fiscal 2022.

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<p>May auctions brought in $43.3 million, with record average price of $156 per carat.</p>
Gemfields Garners Highest-Ever Emerald Sales
May auctions brought in $43.3 million, with record average price of $156 per carat.

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