Rapaport TradeWire April 13, 2023

April 13, 2023

Rapaport Market Comment - April 13, 2023 Diamond market quiet over Passover and Easter holidays. Slow trading also reflects US economic caution as polished prices continue to decline: 1 ct. RAPI -1.6% in March. China recovery fueling industry optimism, but activity still not at pre-pandemic levels. Hong Kong's TSL expects $9M loss for fiscal year that ended March 31, cites Covid-19 disruptions. LVMH 1Q watch and jewelry sales +11% to $2.9B, group +17% to $23.2B, driven by rebound in Asia. Titan Company FY4Q jewelry sales +23%. Rough market sluggish but slightly better than 1Q. De Beers March sales -5% to $540M. GIA joins Tracr blockchain; institute reverts to printed dossiers after trade pushback on switch to digital. Read More

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct -0.02% 0.57% -1.81% 0.50 ct -0.61% -1.75% -18.51% 1.00 ct -0.37% -2.09% -22.87% 3.00 ct -0.45% -1.20% -15.53%

Market Reports   United States: Healthy mix of memo calls and asset purchases…   Belgium: Fancy-color diamond segment robust, with 1 to 5 ct. intense and vivid yellows selling well…   Israel: Shift back to US memo market…   India: Rough prices are high relative to polished, squeezing manufacturing profit margins…   Hong Kong: Optimism for the second half of the year…

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Podcast: De Beers Eyes Massive Botswana Investment As negotiations with the government continue, there are Debswana projects that require financial input now. Listen Here

Webinar: Diamond Reports in a Digital World In the third and final episode of the "Fast-Tracking the Future" series, sponsored by the International Gemological Institute (IGI), we look at how the grading sector is developing. With reports going digital and incorporating origin information, panelists will explore what consumers want from labs, and whether the latest innovations will help the industry become more transparent and sustainable. Register Here

Have a Heart: The History of a Much-Loved Shape By Phyllis Schiller Dealer Brad Wilson reflects on a motif that's been popular in jewelry for centuries. Read More

GIA Reverts to Paper Dossiers Following Trade Uproar Clients who received digital reports can ask for physical documents at no cost. See More Quiet Diamond Market Reflects Economic Caution 1ct. RAPI down 1.6% in March. See More De Beers Upbeat Despite Sales Slowdown at Sight Chinese demand recovering, says CEO Al Cook. See More Jewelry Proves Strong Contributor to LVMH Revenue Sales from category up 11% year on year in first quarter. See More 55ct. Ruby Could Fetch $30 Million at Sotheby's Mozambique-mined Estrela de Fura may set new auction record. See More GIA Joins De Beers' Tracr Blockchain Program Collaboration will let the grading lab offer customers more info on diamonds' origins. See More Six Bejeweled Timepieces That Stood Out at Watches & Wonders 2023 Floating diamonds from Chopard and luminescent spinels from Roger Dubuis were among the eye-catching designs at the Geneva show. See More NRF Expects Softening of US Retail Sales in 2023 Growth will be slower amid inflation, rising unemployment and banking turmoil. See More Hong Kong Luxury Sales Skyrocket as Visitors Return Revenue from jewelry, watches and clocks up 129% year on year in February. See More Tse Sui Luen Warns of Loss Amid China Slowdown Hong Kong-based jeweler expects to be $9 million in the red for full fiscal year. See More De Beers Discovers Free-Moving Diamond Inside Diamond Indian sightholder VD Global found the Beating Heart in one of its parcels. See More Richemont Unveils Platform to Reduce Jewelry and Watch Theft Enquirus allows owners of luxury items to register their pieces. See More "> Gismondi Acquires LVMH Subsidiary Vendorafa Takeover will give Italian high jeweler "leadership role in goldsmithing." See More

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