Rapaport TradeWire August 4, 2022

SIGN UP  |  ADVERTISE WITH RAPAPORT  |  CONTACT US

August 4, 2022

Rapaport Weekly Market Comment - August 4, 2022 News: Diamond market quiet. Deep concerns about trading slowdown and prospects for 2H. US retail steady; jewelers cautious about buying large amounts of inventory. China sluggish amid rising geopolitical tensions and economic uncertainty. Mumbai IIJS show opens with spotlight on domestic jewelry market, exchange rate volatility, and rough supply. Rough trading stable as Alrosa's isolation spurs demand for non-Russian production. Miners and service providers accelerating source-verification programs. Lucapa 2Q revenue -36% to $22M, recovers 170 ct., type IIa pink at Lulo mine. Asian Star 1Q sales +45% to $159M, profit +4% to $2.7M. GIA to open Dubai lab. AGTA appoints John Ford as CEO.

Read More

RAPNET DIAMOND INDEX (RAPI™) Size Weekly Monthly Y2Y 0.30 ct -0.4% -2.9% -5.2% 0.50 ct -0.6% -3.1% -0.1% 1.00 ct -0.8% -3.1% 9.8% 3.00 ct -0.9% -2.5% 18.8%

Market Reports United States: Steady demand from high-end jewelers as industry starts to prepare holiday inventory… Belgium: Traders uncertain about second half due to US and China volatility and high rough prices… Israel: Locals reluctant to buy as overseas clients reduce their inventory needs… India: Prices for certified diamonds have slid in rounds and fancy shapes… Hong Kong: Government consumption vouchers having limited impact on luxury sector…

View Full Report

Podcast: Becoming an Antique Jewelry Collector Beth Bernstein discusses her latest book on how to appreciate and purchase pieces from the Georgian period through the Art Deco era.

Listen Now

Why Memo Is Good for the Trade By Robert Hoberman Taking items on consignment lets retailers keep their options open, conserve capital, and cut down on credit-line complications.

Read More

Top Stories of the Week Diamond Market Uncertain During Summer Slowdown Prices slid in July amid economic and geopolitical concerns.   SEE MORE   Tiffany to Sell NFT Pendants for $50K Each Physical pieces will be available to collectors of CryptoPunks.   SEE MORE   Canadian Cutter Links Up with Lab-Grown Maker Diamond manufacturer HRA to polish Plasmability's CVD rough.   SEE MORE   GIA to Open Lab in Dubai Launch comes around two years after institute closed its office in the emirate.   SEE MORE   "> Fancy-Color Price Index Rises FCRF cites robust retail demand and "fierce" competition for rough.   SEE MORE   Strong Prices Drive Rio Tinto Profit Surge Sales more than tripled year on year in first six months.   SEE MORE   Hong Kong Jewelry Sales Sluggish in June Hard-luxury revenues up 2.3% for the month, compared to 8% growth in May.   SEE MORE   Lucara Mourns Loss of Cofounder Lukas Lundin Energy and mining mogul died at 64 following two-year battle with brain cancer.   SEE MORE   Sales Downturn at Angola Mine Hits Lucapa Company blames lower figures on comparison with last year's unusually strong second quarter.   SEE MORE   Burgundy Diamond Mines Inks New Polished Deals Company will provide jeweler Solid Gold with fancy-colored stones for bridal and high-value custom pieces.   SEE MORE   John Ford Becomes CEO at AGTA Owner of The Lightning Ridge Collection to take on new role immediately.   SEE MORE   India's Asian Star Sees Strong Revenue Growth Sales up 45% year on year in quarter ending June 30.   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