Rapaport TradeWire March 30, 2023

March 30, 2023

Rapaport Market Comment - March 30, 2023 Diamond market quiet amid stalled China recovery and US economic caution. US consumer confidence +0.8% in March despite banking turmoil and interest rate hikes, Conference Board says. Botswana government to buy 24% of HB Antwerp and supply HB with rough through Okavango Diamond Company; deal puts spotlight on delayed De Beers-Botswana negotiations. Chow Sang Sang 2022 revenue -7% to $2.6B, profit -30% to $58M. Lab-grown dominates discussions at Israel meetings. NDC appeals to trade to help fund marketing. Yoram Dvash reelected WFDB president, Ronnie VanderLinden as IDMA president. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON APRIL 7 AND 14 DUE TO THE JEWISH HOLIDAY OF PASSOVER. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.04% 1.36% -3.27% 0.50 ct -0.55% -1.26% -19.30% 1.00 ct 0.06% -1.47% -23.54% 3.00 ct -0.10% -0.58% -16.41%

Market Reports   United States: Some anticipate a positive push for goods before Mother's Day…   Belgium: Slow trading expected to continue into April as many businesses close for Passover…   Israel: Buzz in the bourse during various events taking place over International Diamond Week…   India: Polished production gradually increasing as Chinese jewelers have resumed buying…   Hong Kong: Consumers seeking lower prices, pushing demand toward budget items such as colored gemstones…

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Showstopping Pieces Spur Hopes of Strong Auction Season By Leah Meirovich Despite a poor showing at the fall sales, large colored diamonds and historical jewels look like they will gain steam this spring. Read More

Rapaport Presentation: Synthetics, Russian Sanctions Martin Rapaport addresses industry leaders at International Diamond Week. Check It Out

Watchmakers Are Turning Up the Sparkle By Carol Besler Time to shine: Manufacturers are putting a twist on classic setting techniques to get the most out of their diamonds. Read More

Botswana to Buy 24% Stake in HB Antwerp Okavango Diamond Company will supply rough to Belgian firm's Gaborone factory. See More Lab-Grown Not Cannibalizing Natural, Says De Beers Chief Sectors will continue to diverge as technology improves, Bruce Cleaver predicts. See More Heidi Horten Collection Expected to Fetch over $150M at Christie's Late Austrian billionaire's jewelry assortment set to be most valuable in auction history. See More Pink Diamond Could Break Price Record at Sotheby's New York 10.57-carat stone carries estimate of $35 million. See More $21M Pink Diamond to Lead Sotheby's Hong Kong Auction 10.05-carat stone came from Lesotho's Kao mine. See More International Diamond Exhibition Opens in Israel Trade fair welcomes record 450 buyers from over 40 countries. See More Reviewing 'Jewelry Guide: The Ultimate Compendium' This wide-ranging book covers everything from history and gem properties to big brands and buying tips. See More Rebel with a Cause: Ara Vartanian's Edgy-Yet-Thoughtful Creations The designer's namesake brand, which celebrates its 20th anniversary this year, seeks to make comfortable jewels that fully harness gemstones' energy. See More Positive Sentiment Despite Lower Traffic at Maastricht Fair TEFAF art exhibition sees drop in visitor numbers following three years of Covid-19 disruptions. See More Closures, Drop in Currency Weigh on Chow Sang Sang Sales Annual revenue down 7% year on year in 2022. See More Mountain Province Profit Nosedives in 2022 Decline reflects currency fluctuation and unfavorable comparison with previous year's strong figures. See More Adam O'Grady Becomes Lightbox's First COO Executive will oversee all aspects of supply chain and manufacturing. See More Pandora Hires Head of Retail Operations Massimo Basei's responsibilities will include network expansion, franchise relations and global merchandising. See More

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