Rapaport TradeWire July 7, 2022

SIGN UP  |  ADVERTISE WITH RAPAPORT  |  CONTACT US

July 7, 2022

Rapaport Weekly Market Comment - July 7, 2022 News: Polished trading seasonally slow due to US summer vacations. Economic uncertainty fueling caution. Shift in sentiment with buyers setting market terms and polished inventories rising despite sanctions on Russian rough. 1 ct. RAPI -1.8% in June. Rough shortages expected to support prices in 2H. Expectations for strong De Beers sight next week. Kimberley Process reports 2021 global rough production +51% to $13.98B, volume +12% to 120M cts., average price +35% to $117/ct. Petra Diamonds' price index +8% at $93M June tender. India raises goods and services tax on polished to 1.5%. Birks FY sales +27% to $141M, profit of $1M vs. $4.5M loss. G7 countries ban gold imports from Russia.

Read More

RAPNET DIAMOND INDEX (RAPI™) Size Weekly Monthly Y2Y 0.30 ct -0.6% -1.5% -2.9% 0.50 ct -0.7% -2.2% 4.1% 1.00 ct -0.4% -1.9% 16.1% 3.00 ct -0.4% -1.3% 21.9%

Market Reports United States: Bridal supporting the market during summer wedding season amid boom in post-pandemic nuptials… Belgium: Continued frustration with local banks blocking diamond accounts… Israel: Buyers increasingly resistant to prices… India: Manufacturers operating below capacity due to low supply and market uncertainty… Hong Kong: Consumers showing greater preference for gold than diamonds…

View Full Report

How Big Data Can Improve Sales By Leah Meirovich The more you know about your customers, the better you can connect with them, market to them and ultimately give them what they want.

Read More

Webinar: What's Next for Lab-Grown? Leading experts in the synthetic-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.

Register Now

Podcast: How to Start Collecting Art Jewelry Award-winning writer and curator Melanie Grant explains the criteria aficionados should have in mind when looking for their pieces.

Listen Now

Top Stories of the Week Diamond Prices Slide Amid Economic Uncertainty Midstream polished inventory grew in June despite limitations on rough supply.   SEE MORE   Nonprofit Urges Europe to Outlaw Russian Diamonds Rough ban should feature in next sanctions package, says Transparency International.   SEE MORE   Strong Demand Bolsters Prices at Petra Tender June sales of $93 million were 8% higher than in previous month.   SEE MORE   Hong Kong Jewelry Sales Rise in May Hard-luxury category up 7% year on year.   SEE MORE   Sarine Partners with China Lab on Grading Reports Technology company to distribute co-branded Light Performance certificates together with National Gemstone Testing Center.   SEE MORE   China Diamond Imports Slump as Lockdowns Bite Transactions through Shanghai exchange fell 46% in first half.   SEE MORE   Birks Notes Surge in Revenue for 2021 Figure up 27% as economy reopens.   SEE MORE   Jewelry Crimes Rise; Value of Losses Drops 2021 incident count exceeded pre-coronavirus levels, according to JSA report.   SEE MORE   Global Rough Production Rebounds in 2021 Higher output in Angola and Zimbabwe offsets closure of Australia's Argyle mine.   SEE MORE   Bonhams Snaps Up French Auction House Cornette de Saint Cyr is fourth acquisition this year.   SEE MORE   India Tax Rise Will Help Industry, Says Trade Body Increase in GST will enable companies to reduce their overall bills.   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