Rapaport TradeWire December 23, 2022

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RAPAPORT ® TRADEWIRE ®
December 23, 2022
 
Rapaport Market Comment - December 22, 2022

Diamond market quiet as trading tapers off for the holidays. Major dealers satisfied with season. Jewelers facing competition from general retailers that are discounting to offload excess inventory as consumers shift to lower price points. Economic caution fueling uncertainty about 2023. Covid-19 outbreak in China shaking confidence ahead of Lunar New Year (Jan. 22). Some concerned about post-holiday restocking; few fresh goods available since cutters lowered polished production. Indian suppliers keeping prices firm for 0.30 ct., D-F, IF-VVS certified goods. De Beers Dec. sight +22% to $410M, estimated 2022 rough sales +20% to $5.8B. Rapaport wishes everyone happy holidays.

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RAPNET DIAMOND INDEX (RAPI™)
  Weekly Monthly Y2Y
0.30 ct 0.51% 0.68% -7.52%
0.50 ct -0.21% -0.77% -10.17%
1.00 ct -0.30% -1.55% -9.35%
3.00 ct -0.37% -1.49% -1.82%
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Market Reports
<p><strong>United States: </strong>Mid-size to large jewelers carefully managing inventory, hedging against potential downturn in 2023…</p>    United States: Mid-size to large jewelers carefully managing inventory, hedging against potential downturn in 2023…
<p><strong>Belgium: </strong>Very little trading; bourses closed for holidays…</p>    Belgium: Very little trading; bourses closed for holidays…
<p><strong>Israel: </strong>Suppliers have finished holiday orders and are waiting to assess sell-through rate on memo items…</p>    Israel: Suppliers have finished holiday orders and are waiting to assess sell-through rate on memo items…
<p><strong>India: </strong>High gold prices creating some concerns for domestic consumers…</p>    India: High gold prices creating some concerns for domestic consumers…
<p><strong>Hong Kong: </strong>Local Hong Kong demand improving as economy opens up for festival period…</p>    Hong Kong: Local Hong Kong demand improving as economy opens up for festival period…
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China's Recovery Is a Long Way Off
By Joshua Freedman

Empty stores and a challenging economy indicate a slow New Year season ahead. But things should be better by March, dealers predict.

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How Well Do You Know Your 2022 Diamond News?
By Joshua Freedman

Find out if you're an expert by taking Rapaport Magazine's quiz of the year.

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For Love of Lapis Lazuli
By Cynthia Unninayar

This deep-blue stone has been gracing sculptures, mosaics, paintings and personal adornments for millennia.

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Top Stories of the Week
<p>Unfavorable comparison with October's early holiday shopping also dented November figure.</p>
US Retail Sales Slip Amid Inflation Squeeze
Unfavorable comparison with October's early holiday shopping also dented November figure.
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<p>Traffic rises only 0.2% as shopping holiday falls earlier than usual.</p>
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<p>Customers ">
De Beers Sales Sluggish at Year's Final Sight
Customers "taking prudent approach," miner says.
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<p>Environmental directives getting first review since 2012.</p>
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<p>Seven of top 10 pieces at Paris Jewels auction exceeded high estimates.</p>
Big Diamonds Fetch Strong Prices at Christie's
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<p>Attallah cross by jeweler Garrard adorned the royal at several public events.</p>
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<p>Increased shipments to US and UK in November outweighed drop in orders from China and Hong Kong.</p>
Swiss Watch Exports See Record Performance
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<p>Industry veteran joins diamond supplier as chief communications and sustainability officer.</p>
Brandee Dallow Returns to Roots at Grandview Klein
Industry veteran joins diamond supplier as chief communications and sustainability officer.
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<p>Shipments declined 4% year on year in November.</p>
India Polished Exports Drop Ahead of Holidays
Shipments declined 4% year on year in November.
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