Rapaport TradeWire June 9, 2022

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June 9, 2022
 
Rapaport Weekly Market Comment - June 9, 2022

News: Las Vegas shows open amid hopes they will boost sentiment for 2H. US demand steady. China improving. Concerns about pending shortages continue as supply splits between Russian and non-Russian goods. Cutters finding ways to buy Alrosa rough to serve centers open to Russian-origin polished. De Beers raises prices of small rough amid strong demand, scarcities, and high premiums on secondary market. Signet Jewelers 1Q sales +9% to $1.8B, loss of $84M vs. profit of $138M. Christie's NY achieves $48.9M (95% by lot); 103.49 ct., D-flawless Light of Africa diamond sells for $20.1M ($194,067/ct.). GIA moving to digital-only reports by 2025 and planning to close Antwerp lab on July 31. 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 -0.1% 0.3% -0.7%
0.50 ct -0.2% -0.4% 7.3%
1.00 ct -0.3% -0.9% 19.4%
3.00 ct 0.0% 0.4% 24.5%
Market Reports
<p><strong>United States: </strong>Sentiment mixed due to economic uncertainty, high inflation and stock market volatility…</p>
United States: Sentiment mixed due to economic uncertainty, high inflation and stock market volatility…
<p><strong>Belgium:</strong> Dealers buying for specific orders rather than bulk…</p>
Belgium: Dealers buying for specific orders rather than bulk…
<p><strong>Israel:</strong> Inventory levels stable and higher than a year ago…</p>
Israel: Inventory levels stable and higher than a year ago…
<p><strong>India: </strong>Fancy shapes selling well up to 2 ct. in oval, pear and marquise…</p>
India: Fancy shapes selling well up to 2 ct. in oval, pear and marquise…
<p><strong>Hong Kong: </strong>Jewelers focusing on bridal, expecting busy summer wedding season after recent lockdowns…</p>
Hong Kong: Jewelers focusing on bridal, expecting busy summer wedding season after recent lockdowns…
View Full Report
 
Webinar: A Russian Awakening
With Avi Krawitz

In the quarterly Diamond Trends webinar, Rapaport senior analyst Avi Krawitz discusses the changes that have taken effect in the diamond trade over the past three months due to the Russia-Ukraine conflict, continued Covid-19 shutdowns in China and economic caution in the US.

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Podcast: The Romance and Intrigue of Georgian Jewelry
From Jewelry Connoisseur

In the latest episode, New York-based antique jewelry dealer Dana Kiyomura of Keyamour discusses the meaning behind the inspiring era's styles.

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GIA Advertorial: A Secure Way to Buy and Sell Laboratory-Grown Diamonds
 
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Top Stories of the Week
<p>Trading stable in May despite concerns about the economy.</p>
US Demand, Uncertain Supply Buoy Diamond Prices
Trading stable in May despite concerns about the economy.

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<p>Stone smashed $18M upper estimate at New York Magnificent Jewels auction.</p>
103ct. Flawless Diamond Fetches $20M at Christie's
Stone smashed $18M upper estimate at New York Magnificent Jewels auction.

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<p>Diamond Dossier will be first to go paperless.</p>
All GIA Reports to Be Digital by 2025
Diamond Dossier will be first to go paperless.

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<p>Goods under 0.75 carats see increase of 8% to 10%.</p>
De Beers Lifts Prices of Smaller Diamonds
Goods under 0.75 carats see increase of 8% to 10%.

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<p>Shares rise 9% in early trading Thursday as full-year revenue forecast surpasses expectations.</p>
Signet Stock Surges Amid Strong Outlook
Shares rise 9% in early trading Thursday as full-year revenue forecast surpasses expectations.

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<p>Group partners with three jewelry retailers to ">
Natural Diamond Council Branches into UAE Market
Group partners with three jewelry retailers to "familiarize" consumers with natural stones.

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<p>Program includes a certification service, a concierge trading platform and a brand collaboration.</p>
Rio Tinto Launches Business for Argyle Pinks
Program includes a certification service, a concierge trading platform and a brand collaboration.

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<p>Demand levels and financial performance did not support continuing operations, organization says.</p>
GIA to Close Antwerp Branch Next Month
Demand levels and financial performance did not support continuing operations, organization says.

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<p>Grammy-nominated rapper, songwriter and artist Tierra Whack joins Banter by Piercing Pagoda.</p>
Signet Banner Appoints First Creative Director
Grammy-nominated rapper, songwriter and artist Tierra Whack joins Banter by Piercing Pagoda.

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<p>Adamas One acquired producer Scio Diamond in 2019.</p>
Lab-Grown Diamond Firm Files for IPO
Adamas One acquired producer Scio Diamond in 2019.

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