Rapaport TradeWire March 16, 2023

March 16, 2023

Rapaport Market Comment - March 16, 2023 Polished trading slower than expected after Hong Kong show, but dealers more upbeat than before. China outlook positive even though buyers lack urgency and are testing price levels. US market stable. Large jewelry chains driving demand for small goods. Signet Jewelers 4Q revenue -5% to $2.7B, profit -12% to $277M. Brilliant Earth 4Q sales -2% to $120M, profit -46% to $6M. Petra Diamonds rough prices +12.5% in 1Q; fancy colors and small stones strong. Gem Diamonds 2022 revenue -6% to $189M, profit -26% to $20M. Burgundy Diamond Mines buys Ekati owner Arctic Canadian for $136M. Martin Rapaport to address New York Diamond Dealers Club on Monday, March 20, 2:30 p.m. EST. Register here. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.49% 2.28% -9.05% 0.50 ct -0.09% -0.57% -21.17% 1.00 ct -0.68% -0.70% -25.09% 3.00 ct -0.25% -1.38% -17.12%

Market Reports   United States: Elongated ovals, cushions and emeralds are hot categories…   Belgium: Good orders for rough that yields fancy colors and small stones…   Israel: Dealers apprehensive amid slow sales…   India: Rough demand steady despite recent price hikes, as some manufacturers seek to raise polished production…   Hong Kong: Chinese buyers still cautious and focusing on cheaper, low-margin items…

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The Industry's Russia Crisis: Formulating Sanctions By Avi Krawitz The Russia situation is forcing the diamond trade to take responsible sourcing to the next level. Considering the industry's long history of dealing with reputational challenges, the ongoing war in Ukraine adds a new dimension. Read More

Why the High End Is Driving the Watch Industry By Anthony DeMarco Luxury brands are having a moment, but a new Apple product is providing tough competition for the cheaper segment. Read More

The 3D Printing Revolution By Jennifer Heebner Designer Christian Tse is working to perfect this promising production method for precious metals. Read More

Signet Cautious After Slowdown in Holiday Quarter Revenue fell 5% year on year in the three months that ended January 28. See More HRD Antwerp Hits Back at 'Upgrading' Allegations Belgian lab sues former Istanbul partner amid bitter split. See More Ekati Mine Sells to Burgundy for $136M Australia-based business agrees to purchase 100% of Arctic Canadian Diamond Company. See More Valentine's Day Drives 'Spike' in Jewelry Sales Consumers sought discounts in February amid inflation, according to Mastercard. See More US Retail Sales Slip in Seasonal Lull Revenue down 0.4% in February, according to US Census Bureau data. See More Brilliant Earth Revenue Drops in 'Promotional Environment' Fourth-quarter sales declined 2% year on year. See More Petra Rough Prices Rise Amid China Recovery March tender saw 12.5% increase compared with December. See More Economic Challenges Dent Gem Diamonds Full-Year Profit High inflation, increased diesel prices and electricity interruptions resulted in 26% drop. See More Investment Platform Luxus Selling Shares in 5ct. D-Flawless The diamond, which Kwiat cut and polished, carries valuation of $400,000. See More GCAL Launches 8X Grade for Proprietary Cuts Lab collaborating with Singapore-based retailer JannPaul Diamonds. See More Lab-Grown Conference to Take Place in Dubai July 10 symposium will be first of its kind, says host DMCC. See More Former IGI Chief Jerry Ehrenwald Dies Executive spent 28 years as president of North America division. See More Israel Itzkowitz, Coinventor of Princess Cut, Dies Esteemed polisher held several patents. See More

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