Rapaport TradeWire February 23, 2023

February 23, 2023

Rapaport Market Comment - February 23, 2023 Diamond market quiet due to US seasonal lull and gradual China recovery. Dealers hoping March Hong Kong show will signal release of pent-up Chinese demand. Pressure mounting to strengthen sanctions on Russian diamonds and include traceability requirements. Small polished stable, but manufacturing margins squeezed after De Beers raised prices for corresponding rough by average 10% at Feb. sight. De Beers 2022 revenue +18% to $6.6B, earnings +60% to $552M, average price +35% to $197/ct., price index +23%. Rio Tinto 2022 diamond sales +63% to $816M, earnings +53% to $151M. Dubai bolstering its position as rough trading center: 2022 rough imports +7% to $10.7B, exports +7% $13.9B. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.84% 3.28% -8.22% 0.50 ct -0.17% -0.21% -18.60% 1.00 ct -0.01% -1.01% -21.38% 3.00 ct -0.70% -0.45% -14.42%

Market Reports   United States: Gradual improvement in polished trading after slow January…   Belgium: Small goods steady, with solid sales of 0.50 to 0.90 ct., G-J, VS-SI dossiers…   Israel: High-end fancy-shape suppliers doing well…   India: Profit margins thin amid high rough prices on secondary market…   Hong Kong: Local dealers upbeat for March show, hoping mainland buyers will make purchases after months of slow movement…

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Podcast: The Path Toward Sustainability Rapaport's Avi Krawitz chats with Iris Van der Veken of the Watch & Jewellery Initiative 2030 about the organization's immediate and long-term goals. Listen Here

Webinar: What's Shaping the Diamond Market? By Avi Krawitz Six major factors will determine the makeup of the diamond industry this year following a market decline in 2022's second half, according to Rapaport Senior Analyst Avi Krawitz. Read More

The Auction Market Is Becoming Harder to Forecast By Anthony DeMarco Hammering out the details: Signed jewels and white diamonds are some of the safer bets for collectors, insiders say. Read More

De Beers Lifts Prices of Its Smallest Rough Diamonds Stones that produce melee see second consecutive hike. See More Lucara Sales Slip as Market Slows in Second Half Prices improving in early 2023 after sluggish end to last year. See More Strong Rough Prices Buoy Rio Tinto Revenue Sales up 63% in 2022 amid solid demand and low inventory levels. See More Petra Revenue Slips Amid Shortage of Special Stones Sales dropped 20% year on year for the six months ending December 31. See More De Beers Profit Rises in Turbulent Year Strong first half drove 2022 growth, but market later turned negative. See More Synthetic Diamonds Are Having a Quantum Effect Lab tech: Grown stones' chemical properties are spurring progress in computing, sustainable energy, and other emerging fields. See More Lucapa Digs Up 150ct. Rough from Lulo Diamond is miner's first over 100 carats this year and its 36th overall. See More US Orders Drive Rise in Swiss Watch Exports Shipments to China decline; supply to Hong Kong rises. See More Sparkling Diamonds to Lead Bonhams Jewelry Sale Leviev ring will headline New York single-owner auction. See More Dubai Diamond Trade Sees Further Growth Rough and polished shipments up 17% in 2022. See More Cartier Promotes US Exec Mercedes Abramo North America head will take senior international role. See More GIA Discovers Spinel Treated by Nickel Diffusion Organization had not seen this type of enhancement before. See More Higher Average Price Drives Growth in Hong Kong Imports Municipality's inbound polished shipments rose 3% in 2022. See More Breitling to Open Six New US Stores Company will introduce shops in markets including Atlanta, Georgia, and Dallas, Texas. See More

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