Rapaport TradeWire June 30, 2022

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June 30, 2022

Rapaport Weekly Market Comment - June 30, 2022 News: Trading slowed following Vegas highs as US dealers head for vacation. Industry expects 3Q lull but remains optimistic for holiday season. Recession fears grow after US GDP shrinks 1.6% in 1Q. Polished prices declining amid weak economic outlook and rise in inventory. Russian rough shortages likely to impact polished supply in 2H. Traceable non-Russian diamonds expected to sell at ethical premium. Natural Diamond Council faces $31M shortfall in marketing budget following Alrosa withdrawal. Luk Fook sees Apr.-May China slowdown after FY sales +33% to $1.5B, profit +37% to $177M. De Beers, Botswana extend current sales deal to June 2023. David Gotlib elected Belgium AWDC president.

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RAPNET DIAMOND INDEX (RAPI™) Size Weekly Monthly Y2Y 0.30 ct -0.5% -1.0% -1.5% 0.50 ct -0.6% -1.8% 5.0% 1.00 ct -0.6% -1.9% 16.9% 3.00 ct -0.5% -1.0% 22.4%

Market Reports United States: Bridal expected to sustain the trade in the slower summer months… Belgium: Good demand for fine-cut fancies, with ovals and pears the strongest shapes… Israel: Dealers buying to fill specific orders… India: Polished production below capacity amid reduction in Alrosa rough supply… Hong Kong: China cuts quarantine period but tourist and business travel still low…

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Podcast: Where Digital Is Going Marketing expert Ben Smithee, founder of The Smithee Group, chats with Rapaport's Avi Krawitz about the rapidly changing media space and how it is impacting the industry.

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Webinar: What's Next for Lab-Grown? Leading experts in the man-made diamond industry — Altr's Amish Shah, IGI's Avi Levy, MVEye's Marty Hurwitz, and Lightbox's Nick Smart — join Rapaport's Avi Krawitz to debate the market's core issues.

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Disruptor's Dilemma: Has Lightbox Legitimized Lab-Grown? By Leah Meirovich De Beers may have meant to put synthetics in their place with its fashion-focused brand, but some say the move gave these stones a luxury stamp of approval.

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Top Stories of the Week Russia Crisis Puts Category Marketing in Jeopardy Natural Diamond Council needs to fill $31M budget gap left by Alrosa's withdrawal.   SEE MORE   De Beers, Botswana Sales Deal Delayed Again Current terms will remain in effect until June 2023.   SEE MORE   Russia Is 'Elephant in the Room' as KP Session Ends Small group of members reportedly blocks discussion of the country's diamonds.   SEE MORE   De Beers Forevermark Shakes Up Distribution Partners will have to sell the brand's own jewelry designs.   SEE MORE   Luk Fook China Sales Slide in Latest Covid-19 Wave Hong Kong performance declined in March and April before picking up.   SEE MORE   Rio Tinto Considers Cutting Ties with Star Diamond Australian mining giant puts Canadian project on hold until end of year.   SEE MORE   Shareholder Offers to Buy Firestone for $67K PRRF II Investment Holdings already owns nearly a third of the business.   SEE MORE   Antwerp World Diamond Centre Taps New President David Gotlib succeeds Chaim Pluczenik.   SEE MORE   Major Countries Ban Import of Russian Gold US, UK, Canada and Japan work to eliminate funding for Putin's war on Ukraine.   SEE MORE   17ct. Diamond May Fetch Up to $1.6M at Auction Artcurial will offer emerald-cut, D-color stone at Monaco Luxury week in July.   SEE MORE

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