Rapaport TradeWire September 8, 2022

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September 8, 2022
 
Rapaport Market Brief - September 8, 2022

US market optimistic as holiday season approaches. Sales not expected to match 2021, but jewelers seeing steady interest as consumer confidence improves. Memo houses selling well. Luxury jewelry doing better than commercial qualities. International dealers and manufacturers cautious. China weak amid new Covid-19 restrictions. Ongoing quarantine for travelers is limiting Far East trade. Polished prices declining as inventory climbs due to drop in sales. Rough market slow; expectations of lower prices at Sep. 19 sight. Natural Diamond Council unveils "To Treasure, Now and Forever" campaign, names actress Lily James new ambassador. IGI adds cut grade to fancy-shape grading reports.

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RAPNET DIAMOND INDEX (RAPI™)
Size Weekly Monthly Y2Y
0.30 ct -0.26% -1.55% -6.21%
0.50 ct -0.67% -2.96% -2.89%
1.00 ct -0.73% -3.11% 5.84%
3.00 ct -0.65% -2.75% 15.20%
Market Reports
<p><strong>United States: </strong>Vendors anticipate positive but not record-breaking holiday season…</p>
United States: Vendors anticipate positive but not record-breaking holiday season…
<p><strong>Belgium:</strong> Rough premiums down on secondary market…</p>
Belgium: Rough premiums down on secondary market…
<p><strong>Israel:</strong> Dealers trying to complete US holiday sales ahead of Rosh Hashanah holiday (Sep. 26-27)…</p>
Israel: Dealers trying to complete US holiday sales ahead of Rosh Hashanah holiday (Sep. 26-27)…
<p><strong>India: </strong>Suppliers accumulating larger inventories as orders decline…</p>
India: Suppliers accumulating larger inventories as orders decline…
<p><strong>Hong Kong: </strong>Jewelers believe easing quarantine rules will boost sector…</p>
Hong Kong: Jewelers believe easing quarantine rules will boost sector…
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Podcast: Stuller Optimistic for US Holiday Season

Matt Stuller, founder and chairman of jewelry manufacturer Stuller, is upbeat about the market ahead of the holiday season despite the cautious economic environment.

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Webinar: The Shape of the Fancies Market

Demand for fancy-cut diamonds has grown in recent years, as has the range of shapes available. In this panel discussion, experts will investigate the forces driving the sector and the challenges it faces.

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How Much Are Consumers Spending on Engagement Rings?
By Lara Ewen

As diamond prices return to pre-pandemic levels, couples' budgets are holding steady.

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Top Stories of the Week
<p>Diamond prices declined in August amid caution in trading centers and weak Chinese demand.</p>
Trade Uncertainty Clouds US Holiday Optimism
Diamond prices declined in August amid caution in trading centers and weak Chinese demand.

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<p>NDC urges industry to contribute cash amid funding challenges.</p>
Actress Lily James Is New Face of Diamonds
NDC urges industry to contribute cash amid funding challenges.

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<p>Feature will take into account stone's proportions and light return.</p>
IGI Reports to Include Cut Grade for Fancies
Feature will take into account stone's proportions and light return.

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<p>Bridal remains a likely driver of holiday results amid growing fears of recession.</p>
US Wholesale: Diamonds Proving to Be Bright Spot
Bridal remains a likely driver of holiday results amid growing fears of recession.

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<p>De Beers temporarily halted nonessential work amid investigation into death of employee.</p>
Gahcho Kué Mine Restarts After Brief Pause
De Beers temporarily halted nonessential work amid investigation into death of employee.

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<p>Improved job market led to 28% rise during the month.</p>
Hong Kong Jewelry Sales Bounce Back in July
Improved job market led to 28% rise during the month.

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<p>Only one of four stones in parcel was not lab-grown or simulant.</p>
Synthetic Sapphires Submitted to GIA as Natural
Only one of four stones in parcel was not lab-grown or simulant.

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<p>Stone is sixth-largest recovered from deposit.</p>
Lucapa's Lulo Mine Turns Out 160ct. Rough
Stone is sixth-largest recovered from deposit.

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<p>Burgundy unearths 1.51-carat fancy yellow at Australia mine.</p>
Restarted Ellendale Project Yields First Diamond
Burgundy unearths 1.51-carat fancy yellow at Australia mine.

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<p>Polished exports down 21% year on year in August.</p>
Israel Shipments Slump Amid Global Uncertainty
Polished exports down 21% year on year in August.

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<p>Miner brings in $1.6 million at sale featuring 59.35-carat rough.</p>
Diamcor Tender Generates Strong Results
Miner brings in $1.6 million at sale featuring 59.35-carat rough.

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