Rapaport TradeWire April 20, 2023

April 20, 2023

Rapaport Market Comment - April 20, 2023 Tough market as prices continue to decline amid slow demand. US buyers distracted by Passover and Easter holidays and tax deadlines. China slow, but Hong Kong continues to improve: Chow Tai Fook FY4Q retail sales +14%; Luk Fook FY4Q same-store sales +83%. Greater caution in melee than a month ago. Rough prices weak on secondary market as polished production levels remain below capacity. India March polished exports -33% to $1.6B, rough imports -19% to $1.7B. Petra Diamonds FY3Q sales -52% to $68M due to Williamson mine shutdown, despite firm March tender prices. Mountain Province 1Q sales +42% to $95M. Sotheby's HK sells $50M. Signet Jewelers predicts 4Q engagement boom. Read More

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.16% -0.32% -1.08% 0.50 ct -0.47% -1.81% -18.32% 1.00 ct -0.74% -2.00% -22.62% 3.00 ct 0.02% -1.00% -15.37%

Market Reports   United States: Engagement ring segment slightly down, with slow demand for 1 ct., F-I, VS-SI, 3X goods…   Belgium: Dealers cautious about raising inventory of commercial-quality rounds…   Israel: Select categories of fancies selling well, with shortages also supporting prices…   India: Rising appetite for non-certified diamonds in below-1-carat goods as manufacturers seek to save on grading costs…   Hong Kong: Local retail boosted by return of tourist traffic; mainland China sluggish…

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The De Beers-Botswana Divide By Avi Krawitz De Beers is embroiled in momentous negotiations with the Botswana government that are threatening to derail their model partnership. As the deadline for new marketing and mining deals approaches, the 54-year relationship is under unprecedented stress. Read More

Webinar: Diamond Reports in a Digital World The diamond-grading sector is changing, with laboratories carrying out origin verification and other added services to benefit the industry. Panelists discussed these issues on a special webinar, sponsored by the International Gemological Institute (IGI) and moderated by Rapaport News Editor Joshua Freedman. Watch Here

Cartier's Looking Glass Is Luxury's Latest Frontier By Sarah Jordan Mirror imaging: The French brand's virtual try-on device shows that the future of jewelry retail has arrived. Will the house's competitors follow its lead? Read More

US Sanctions Diamond Firms Over Alleged Hezbollah Links Global network enabled funds to reach financier of Lebanese terrorist group, Treasury claims. See More Podcast: Diamond Supply-Chain Challenges and Opportunities Rapaport Group Chairman Martin Rapaport explains how the diamond industry can navigate the hurdles lab-grown and Russian sanctions generate. See More Rapaport Magazine Means Business: New Look, New Feel, New Stories March-April issue presents fresh design and sections alongside regular features. See More US Retail Sales Slip Amid Economic Slowdown Inflation and tough labor market resulted in 1% decline in March, according to US Census Bureau. See More Sotheby's Hong Kong Sale Brings In $50M Several big-ticket items did not appear in results. See More David Yurman, Mejuri Settle Copyright Lawsuits Companies had gone to court over latter's alleged infringement on former's signature designs. See More Chow Tai Fook Sales Recover Hong Kong-based retailer benefited from reopening of Chinese market. See More Michael Hill Buys Australia Jewelry Chain for $30M Bevilles has 26 shops across the country. See More Hong Kong Reopening Boosts Luk Fook Same-store sales up 83% in fourth quarter. See More Petra Sales Falter Amid Mine Shutdown Drop in tenders during third quarter also affected revenue. See More Strong Market for Small Stones Buoys Mountain Province Company saw record first-quarter sales of $95 million. See More Christie's Geneva to Offer Largest Collection of JAR Jewels May auction will feature 25 pieces by the designer. See More Titan Closes Year with Strong Rebound in Jewelry Sales Revenue from division up 23% amid reopening of Indian economy. See More India's Diamond Trade Slows in March Rough and polished shipments fell, according to data from GJEPC. See More Israel's Diamond Exports Slump in March Decline reflects global slowdown, government says. See More

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