Rapaport TradeWire December 16, 2022

Rapaport Newsletter Banner
 
RAPAPORT ® TRADEWIRE ®
December 16, 2022
 
Rapaport Market Comment - December 15, 2022

Mixed sentiment ahead of final shopping weekend before Christmas. Retailers anticipate strong Super Saturday (Dec. 17) traffic as consumers make last-minute purchases. Mastercard reports US jewelry sales -3.9% in Nov., but category well above pre-pandemic levels. China slow but optimism rises for release of pent-up demand after zero-Covid policy lifted in time for peak season. Dealers are being conservative as jewelers are selective and waiting for New Year to buy inventory. Rough market quiet. Petra Diamonds Dec. tender sales -67% to $42M, prices +2.2% vs. Nov. De Beers plans 2023 production of 30M to 33M cts. vs. 34M cts. this year; expected to raise supply to Botswana factories.

Watch Video
Rapaport Newsletter Banner
 
RAPNET DIAMOND INDEX (RAPI™)
  Weekly Monthly Y2Y
0.30 ct 0.33% 0.37% -7.61%
0.50 ct 0.07% -0.61% -9.80%
1.00 ct -0.10% -1.90% -6.15%
3.00 ct -0.14% -1.52% 1.50%
Rapaport Newsletter Banner
Market Reports
<p><strong>United States: </strong>Retail below 2021 levels, but jewelers satisfied with business and wary of building up inventory in uncertain economic environment…</p>    United States: Retail below 2021 levels, but jewelers satisfied with business and wary of building up inventory in uncertain economic environment…
<p><strong>Belgium: </strong>Luxury brands driving orders and insisting on source verification following Russia's invasion of Ukraine…</p>    Belgium: Luxury brands driving orders and insisting on source verification following Russia's invasion of Ukraine…
<p><strong>Israel: </strong>Dealers holding back from buying due to concerns that prices will keep dropping…</p>    Israel: Dealers holding back from buying due to concerns that prices will keep dropping…
<p><strong>India: </strong>Some cutting firms struggling due to shortage of suitable material for producing melee…</p>    India: Some cutting firms struggling due to shortage of suitable material for producing melee…
<p><strong>Hong Kong: </strong>Optimism rising for Chinese sales ahead of January 22 Lunar New Year…</p>    Hong Kong: Optimism rising for Chinese sales ahead of January 22 Lunar New Year…
View Full Report
Rapaport Newsletter Banner
Rapaport Newsletter Banner
 
The Year That Hindered Growth
By Avi Krawitz

The past 12 months will be remembered for the impact that geopolitical and economic developments had on all industries, as well as the continued effects of Covid-19 in parts of the world.

Read More
Rapaport Newsletter Banner
 
Podcast: China's Post-Pandemic Potential

The diamond trade should anticipate a release of pent-up demand from Chinese consumers as Beijing eases its "zero Covid" policy, says Mountain Province CEO Mark Wall.

Listen Here
Rapaport Newsletter Banner
 
The Group Pushing to Unite the Trade on Sustainability
By Rachael Taylor

Climate action is key for the Watch & Jewellery Initiative 2030, says executive director Iris Van der Veken.

Read More
Top Stories of the Week
<p>13.15-carat stone was part of a $90 million jewelry scam, court documents show.</p>
Pink Diamond Pulled from Christie's Was Allegedly Stolen Property
13.15-carat stone was part of a $90 million jewelry scam, court documents show.
See More
 
<p>First three stones from eight-piece De Beers collection have failed to sell.</p>
Blue Diamonds Strike Out at Sotheby's Auction
First three stones from eight-piece De Beers collection have failed to sell.
See More
 
<p>Sightholders expect greater allocation of smaller diamonds to Botswana units.</p>
De Beers to Offer More Rough to African Factories
Sightholders expect greater allocation of smaller diamonds to Botswana units.
See More
 
<p>Category down 3.9% year on year in November, according to Mastercard SpendingPulse.</p>
Jewelry Sales See Second Consecutive Month of Decline
Category down 3.9% year on year in November, according to Mastercard SpendingPulse.
See More
 
<p>Strategic overhaul would enable De Beers-government joint venture to process diamonds other than Debswana's.</p>
DTC Botswana Eyes New Sources of Rough
Strategic overhaul would enable De Beers-government joint venture to process diamonds other than Debswana's.
See More
 
<p>The in-store experience is crucial — as are marketing styles and having the right merchandise.</p>
How to Sell to the Self-Purchasing Woman
The in-store experience is crucial — as are marketing styles and having the right merchandise.
See More
 
<p>National Retail Federation predicts strong final weekend before Christmas.</p>
Super Saturday to Draw Record 158M Shoppers
National Retail Federation predicts strong final weekend before Christmas.
See More
 
<p>Weakness of larger rough abates amid positive holiday sentiment.</p>
Petra Prices Improve at December Sale
Weakness of larger rough abates amid positive holiday sentiment.
See More
 
<p>50.06-carat diamond is lead item, bringing in $2.6 million.</p>
Christie's Online Jewelry Sale Scores Nearly $7M
50.06-carat diamond is lead item, bringing in $2.6 million.
See More
 
<p>Pink-diamond necklace by Boodles fetches $1.9 million.</p>
Top Lots Smash Estimates at Phillips Jewelry Sale
Pink-diamond necklace by Boodles fetches $1.9 million.
See More
 
<p>Equipment maker hails Indian court ruling against five Surat firms that allegedly used company's software illegally.</p>
Sarine Claims Win in Infringement Case
Equipment maker hails Indian court ruling against five Surat firms that allegedly used company's software illegally.
See More
 
<p>Sales up 31% year on year in six months ending October 30.</p>
Strong Luxury Market Drives Watches of Switzerland
Sales up 31% year on year in six months ending October 30.
See More
 
<p>Walter Huehn will leave the De Beers synthetic-diamond business early next year.</p>
Element Six CEO to Step Down
Walter Huehn will leave the De Beers synthetic-diamond business early next year.
See More
 
<p>Joseph Esposito will enter his third term.</p>
Manufacturing Trade Group MJSA Reelects Chairman
Joseph Esposito will enter his third term.
See More
 
<p>Times Square location will help jeweler expand US business, management says.</p>
Pandora Shifts North America Head Office to New York
Times Square location will help jeweler expand US business, management says.
See More
 
CONTACT US
Facebook logo       Twitter logo       LinkedIn logo       RSS logo       Email logo
© 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

Post a Comment

0 Comments