Rapaport TradeWire July 21, 2022

SIGN UP  |  ADVERTISE WITH RAPAPORT  |  CONTACT US

July 21, 2022

Rapaport Weekly Market Comment - July 21, 2022 News: Diamond trade sluggish amid growing market uncertainty. Disposable income squeezed by high inflation and rising interest rates. China's economy slowing due to Covid-19 lockdowns, crackdown on private sector, real-estate crisis and social protests. Manufacturing liquidity tight; some reducing prices to boost turnover. Polished inventory rising despite decline in rough supply. De Beers raises 2022 production plan to 32M-34M cts. after 2Q output -4% to 7.9M cts., sales volume +29% to 9.4M cts., price index +28%. India June polished exports +2% to $2B, rough imports +4% to $1.7B. Sotheby's sells $18M, with emerald-cut, 11.02 ct., D, IF Graff ring going for $983,068 ($89,207/ct.).

Read More

RAPNET DIAMOND INDEX (RAPI™) Size Weekly Monthly Y2Y 0.30 ct -0.42% -2.79% -4.49% 0.50 ct -0.82% -3.00% 1.19% 1.00 ct -0.85% -2.51% 11.60% 3.00 ct -0.78% -1.87% 20.55%

Market Reports United States: Consumer traffic remains steady, but buying is not as strong as earlier in the year… Belgium: More diamantaires diversifying and developing jewelry collections… Israel: Few foreign buyers present; local dealers purchasing to fill specific orders… India: Polished production limited amid supply concerns as absence of Russian rough creates shortages… Hong Kong: Sluggish local economy denting sentiment, with weakness in all diamond categories…

View Full Report

Webinar: What's Next for Lab-Grown? The synthetic-diamond industry has seen a boom in interest over the past two years, with many in the mainstream jewelry trade embracing the product. Rapaport's Avi Krawitz hosts a lively discussion with four key market players.

Listen Now

Why Can't De Beers and Botswana Reach a Deal? By Joshua Freedman With Covid-19 no longer a plausible reason, the industry is starting to suspect that a thorny issue is preventing the miner and the government from finalizing a new sales agreement.

Read More

Podcast: The Big, Bold and Experimental Style of British Modernism Emma de Sybel, vintage dealer and founder of Baroque Rocks in London, discusses the fabulous creations of the 1960s and 1970s.

Listen Now

Top Stories of the Week "> De Beers Raises Production Plan Fallout from Russia crisis could "underpin continued robust demand" for company's rough, management says.   SEE MORE   Jewelry Worth Millions Stolen from Brink's Truck Armored vehicle was transporting goods to International Gem & Jewelry Show in Pasadena, California.   SEE MORE   Is the US Jewelry Boom Waning? Sales have been up for the past year and a half, but rising prices, the war in Ukraine, and a return to travel have buyers tightening their spending.   SEE MORE   'Thriving' Jewelry Sales Buoy Richemont Revenue from category up 20% in first fiscal quarter.   SEE MORE   Rio Tinto Slashes 2022 Production Guidance Covid-19 has disrupted operations at the Diavik mine in Canada.   SEE MORE   Price Jump Lifts Petra Revenue Sales up 44% for fiscal year ending June 30.   SEE MORE   June Retail Sales Feel Impact of Inflation Consumer spending saw soft growth during the month, according to US Census Bureau.   SEE MORE   Luk Fook Sales Fall Amid China Lockdowns Revenue down 1% in first fiscal quarter.   SEE MORE   Guinness Certifies World's Largest Rough Emerald Israel-based Eshed-Gemstar considers its options for the 7,525-carat Chipembele stone.   SEE MORE   Hong Kong Jewelry Auction Racks Up $25M Cartier Burmese ruby and diamond ring is top seller, fetching $7.3 million.   SEE MORE

CONTACT US

© Copyright 2022 by Rapaport USA Inc. All Rights Reserved. Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks.

Rapaport USA 133 East Warm Springs Road Suite 100 Las Vegas Nevada 89119 USA You received this email because you are subscribed to Rapaport TradeWire® from Rapaport USA. Update your email preferences to choose the types of emails you receive. Unsubscribe from all future emails