Rapaport TradeWire March 9, 2023

March 9, 2023

Rapaport Market Comment - March 9, 2023 Mixed sentiment amid slow trading. Expectations rising for 2H recovery as US shows signs of improvement despite lingering economic uncertainty. Hong Kong fair demonstrates pent-up Chinese demand, with buyers testing price points. Dealers happy to reconnect with Chinese market after Covid-19 disruptions. Small-stone segment strong; some concerned that recent rough-price hikes outpaced polished, putting pressure on cutters' profit margins. De Beers Feb. sales -24% to $495M. Sightholders planning larger purchases later in the year. Manufacturers increasing production but still operating well below capacity. Israel Feb. polished exports +80% to $642M, rough imports -10% to $101M. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.39% 2.71% -10.45% 0.50 ct -0.10% -0.29% -21.32% 1.00 ct -0.09% -0.03% -25.08% 3.00 ct -0.12% -0.75% -17.49%

Market Reports   United States: Robust bridal segment driving solid retail jewelry business…   Belgium: Dealers holding large inventories and offering deeper discounts for items that are difficult to move…   Israel: Fancy shapes moving better than rounds…   India: Activity stable after Hong Kong shows signaled strong appetite for goods in China…   Hong Kong: Industry enjoying boost from March shows. Visitor traffic strong after more than two years of disruption…

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Hong Kong Fairs: More Show Than Dough By Joshua Freedman The recent exhibitions saw strong footfall, but buyers' price expectations made sales difficult. Read More

NDC Plans Synthetics Myth-Busting Campaign David Kellie, CEO of the Natural Diamond Council, chats with Rapaport's Avi Krawitz about the organization's latest projects — including a rebuttal to the lab-grown sector's sustainability claims, a path to partnering with other sectors of the trade, and the group's ongoing work with brand ambassador Lily James. Read More

Trash to Treasure: The Brands Turning Used Materials into Jewelry By Diana Jarrett To reduce waste, companies are recycling gold and silver from discarded electronics and film. Read More

Press Release: Polished Trading Cautious Despite China Boost Retail inventory replenishment slower than usual for first quarter. See More De Beers Sees Further Sales Slowdown Revenue declined at second sight of the year. See More Government and Industry Meet on Russia Sanctions US and European Union officials discuss potential restrictions. See More Sustainability in a Rapidly Changing World: A 2023 Perspective Responsible sourcing efforts must focus on leaving no one behind, writes Iris Van der Veken. See More The Man Helping Open Doors for Jewelers of Color Elliot Carlyle is on a mission to give underrepresented creators the resources they need to succeed. See More De Beers to Expand 5G-Ready Mining Huawei technology in operation at Jwaneng deposit in Botswana. See More Macy's Sales Slip in Challenging Economy Revenue down 4.6% year on year in fourth quarter. See More Diamond Ring Sold Without Reserve Falls Short at Sotheby's Piece brings in $82,550, well below $350,000 low estimate. See More Bonhams Sells Every Jewel on Offer at New York Auction Star of show was 35-carat Leviev diamond ring that fetched $2.7 million. See More Chow Tai Fook China Boss to Depart Chan Sai-Cheong will exit at end of March. See More Phillips Names New Head of Jewelry for Americas Eva Violante succeeds Sara Thomeier in role. See More Gem Diamonds Unearths 122ct. Rough from Letšeng Stone is miner's first 100-carat-plus discovery this year. See More Polished Up, Rough Down in Mixed February for Israel Trade Government predicts midyear recovery. See More Diamcor Sales 'Lower Than Expected' at Tender Miner hopes revenue from 72.53-carat rough will offset decreased volume. See More

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