Rapaport TradeWire June 23, 2022

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June 23, 2022

Rapaport Weekly Market Comment - June 23, 2022 News: Optimism for US market as Las Vegas shows demonstrate robust demand despite inflation concerns. China slowdown weighing on 0.30 ct. goods. Trading seasonally quiet. Excess inventory of less desirable goods; prices declining due to low demand. Russian rough entering supply chain and may disrupt market balance. Alrosa reportedly maintaining production plan of 34M to 35M cts. for 2022. De Beers June sales +36% to $650M. TSL warns of China slump after FY sales +5% to $353M, profit of $2M vs. loss of $6M. Sotheby's NY sells $52M, with pear-shape, 101.41 ct., D, IF Juno diamond going for $13M ($127,832/ct.). Edward Asscher extends term as WDC president to 2023.

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RAPNET DIAMOND INDEX (RAPI™) Size Weekly Monthly Y2Y 0.30 ct -0.3% -0.2% -1.5% 0.50 ct -0.5% -1.1% 6.0% 1.00 ct -0.7% -1.0% 17.9% 3.00 ct -0.4% -0.1% 23.9%

Market Reports United States: Dealers struggling to replenish goods following upbeat JCK… Belgium: Good movement of diamonds under 1 carat, but buyers have specific requirements… Israel: US demand strong, but inflation denting consumer sentiment… India: Las Vegas fair attendees saw solid business but uncertain whether clients will make substantial follow-up orders… Hong Kong: Mainland border closures hampering tourist arrivals and general commerce even though Hong Kong businesses have reopened…

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Made to Go Mainstream By Avi Krawitz Once considered the greatest threat to mined diamonds, laboratory-grown goods are increasingly gaining acceptance — but the road hasn't been easy.

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The Economics of Lab-Grown By Joshua Freedman Prices for man-made diamonds are starting to stabilize after a period of precipitous drops.

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Podcast: Bringing Estate Jewelry into the Digital Age From Jewelry Connoisseur Dealer Marianne Fisher reveals how Covid-19 forced her segment online and led to the creation of the Jewelers Circle trading website.

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Top Stories of the Week "> Martin Rapaport at JCK Las Vegas Lower rough supply may be "blessing" for the industry, Rapaport chairman says in annual speech.   SEE MORE   De Beers Sales Accelerate Following Price Rise Proceeds reach $650 million at June cycle.   SEE MORE   Alrosa to Maintain Production Plan: Report Restoration of Mir mine still on track, CEO says.   SEE MORE   101ct. Diamond Rakes In $13M at Sotheby's Private collector renames pear-shaped, D-color, internally flawless stone Claire G, after his wife.   SEE MORE   Luxury Sector Sees First-Quarter Growth Sales increased by almost a fifth, according to Bain & Company.   SEE MORE   Steve Coe to Exit Role as Lightbox CEO Executive built the company from its initial concept to an established business.   SEE MORE   Pandora to Acquire Franchisee Business in Portugal Danish jeweler will take over 34 locations from distributor Visão do Tempo.   SEE MORE   Hong Kong Jeweler TSL's Profit Back on Track Retailer saw net gain of $2 million in fiscal 2022, compared with loss of $5.6 million in previous year.   SEE MORE   "> Asscher to Serve Extra Year as WDC Head Council extends term until 2023, citing "unusual circumstances" that include Covid-19.   SEE MORE   Swarovski Names First Non-Family CEO Alexis Nasard was previously a senior business adviser at McKinsey & Co.   SEE MORE

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