Rapaport TradeWire June 22, 2023

June 22, 2023

Rapaport Market Comment - June 22, 2023 US and Chinese demand for polished above 0.30 ct. weak and causing slowdown in 0.75 ct. and larger rough. Indian manufacturers focusing on small, low-value and synthetic goods to keep factories running. Inexpensive natural melee diamonds doing better than expected as Rapaport June melee auction sells $6.2M (93% of lots). India Prime Minister Modi gives 7.5 ct. synthetic diamond to Jill Biden. De Beers offers 1 to 2 ct. synthetic diamond engagement rings at $800-$1,500/ct., raising concerns in industry. De Beers June sales -32% to $450M following price drop in larger sizes. US Census Bureau reports May retail sales +0.3%. Low expectations for HK show. India May polished exports -18% to $1.7B, rough imports -19% to $1.2B. Read More

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.53% -1.33% -2.72% 0.50 ct -0.86% -3.72% -22.80% 1.00 ct -0.40% -2.13% -24.13% 3.00 ct -0.64% -0.90% -16.02%

Market Reports   United States: Economic data fueling hopes of improvement: Consumer sentiment up 8% in June after inflation eased and lawmakers reached debt-ceiling deal, University of Michigan reports…   Belgium: High-end demand supporting sector; sales to US mid-market have slumped…   Israel: Sales of 1 ct. diamonds down due to sluggish US bridal segment…   India: Overall production capacity at about 50%; profit margins are thin…   Hong Kong: Steady appetite for 1 ct., D-H, VS (3X, none) diamonds in local market…

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The Industry's Diamond-Origin Conundrum By Avi Krawitz A heated debate is brewing about the best approach to source-verification. Read More

Podcast: Avi Krawitz's Farewell Plus: A report from the JCK Las Vegas show.   Listen Here

De Beers Mulls Its Partners' Changing Expectations By Avi Krawitz New CEO Al Cook assesses the challenges ahead. Read More

Lightbox Starts Selling Engagement Rings with Lab-Grown Diamonds Website features items priced at up to $5,000. See More Small Rough Gaining as Cutters Look to Fill Factories Needing to keep workers busy, Indian manufacturers are supporting the market for lower-value goods during the downturn. See More India's Prime Minister Gifts Lab-Grown Diamond to US First Lady Presentation of 7.5-carat, green stone earns praise from GJEPC. See More De Beers Sales Slide as Slow Trading Continues Proceeds fell 32% year on year at June cycle. See More Strong Job Market Buoys US Retail Sales May revenue up 0.3% from April, according to Census Bureau. See More One Luxury Group's Big Plan to Take a Bite Out of Crime Richemont's new Enquirus database program aims to help combat jewelry and timepiece theft. See More Fancies, Big Bands, and Color: The Latest Engagement Ring Trends Bridal wave: Today's couples are going for unconventional shapes, multi-stone styles, and eye-catching hues. See More Advice from the Pros: What You Need to Know About Jewelry Marketing Rock-solid strategy: Experts discuss how jewelers should be targeting customers and where advertising is headed. See More On the Shop Floor: How to Debate Lab-Grown vs. Natural Diamonds With misinformation rife, it's no wonder customers are confused when it comes to choosing between a mined or synthetic stone. See More Rebounds in US and China Lift Swiss Watch Exports Total shipments up 14% in May. See More The Art of Giving New Life to Old Stones Polishing up the past: When does it make sense to recut antique diamonds? See More Strong Gemfields Auction Signals Rebound in Ruby Market Revenue up 20% from last sale in December 2022. See More

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