Rapaport TradeWire July 13, 2023

July 13, 2023

Rapaport Market Comment - July 13, 2023 Sentiment weak amid retail slowdown. Traders and manufacturers losing money on inventory. Indian factories maintaining low production. Dealers see opportunity for cheap deals but nervous about buying in downward market. De Beers lowers prices of 0.75 ct. and larger, lower-quality rough by 5%-15% at July sight. Industry fears ripple effect on polished prices. High end supporting demand for exceptional stones and beautiful fancy shapes. US inflation slows to 3% in June. Chow Tai Fook 1Q sales +29% as Chinese tourists return to Hong Kong. Lucapa names Nick Selby interim CEO. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct -0.24% -0.51% -1.22% 0.50 ct -0.95% -3.84% -23.28% 1.00 ct -0.46% -1.92% -24.10% 3.00 ct -0.56% -1.82% -16.25%

Market Reports   United States: Rounds especially slow; fancies better…   Belgium: Almost no movement in 1 to 2 ct. items…   Israel: Sellers reducing credit to customers abroad…   India: Manufacturers keeping production at reduced levels…   Hong Kong: Chinese retailers starting to buy from overseas market…

View Full Report

A Rough Overhaul: Russia, Botswana, and Excess Supply By Avi Krawitz Newly published Kimberley Process numbers give fresh insights into current market developments. Read More

Meet Elliot Carlyle, the Man Helping Open Doors for Jewelers of Color By Rachael Taylor The director of cultural diversity and inclusion for the Here We Are initiative is on a mission to give underrepresented creators the resources they need to succeed.   Read More

De Beers Reduces Prices at Second Consecutive Sight Cuts of up to 15% reflect weak US demand for larger, lower-quality diamonds. See More 30ct. Pink Diamond Garners Record Sum for Tender House South Africa-mined stone brings in over $8 million at Pioneer. See More Prime Day's Online Sales Reach New Record Consumers spent $6.4 billion on July 11, making it 2023's biggest e-commerce day so far, says Adobe. See More Hong Kong Reopening Sets Chow Tai Fook Revenue Soaring Municipality's same-store sales up 64% year on year in first fiscal quarter. See More India's Titan to Broaden International Presence Company aims to add 18 new Tanishq jewelry stores, with main focus on Gulf area and US. See More Lucapa Chief to Exit After Nearly a Decade Nick Selby will take over as miner's interim CEO when Stephen Wetherall departs. See More Black in Jewelry Coalition to Award $5,000 in Design Contest Winner will create bespoke yellow-diamond engagement ring for selected couple. See More Top Five Jewels Fail to Find Buyers at Sotheby's Hong Kong Sale totals $11.1 million, with turban ornament as highest seller. See More Signet Makes Big Jump in List of Top 100 Retailers Company's acquisition of Blue Nile helped propel it up 10 spots to number 56. See More Stuller Promotes Four to Executive Team Jewelry supplier names vice presidents for digital, marketing, technology and manufacturing. See More Brilliant Earth Expanding with Four New Showrooms Stores in Virginia, Illinois, Florida and California are part of company's omni-channel strategy, it says. See More Jeweler Gabriel & Co. Appoints Retail Vice President Elda Fistani was previously an executive at WD Lab Grown Diamonds. See More

CONTACT US

© Copyright 2023 by Rapaport USA Inc. All Rights Reserved. Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks.

Rapaport USA 133 East Warm Springs Road Suite 100 Las Vegas Nevada 89119 USA You received this email because you are subscribed to Rapaport TradeWire® from Rapaport USA. Update your email preferences to choose the types of emails you receive. Unsubscribe from all future emails