Rapaport TradeWire July 6, 2023

July 6, 2023

Rapaport Market Comment - July 6, 2023 De Beers and Botswana reach 25-year mining-rights and 10-year sales agreements. Okavango to receive 50% of Debswana goods over 10 years, and government will get opportunities to partner on high-value stones. Polished trading slow during US vacation period and with economic uncertainty. Buyer's market, with prices falling as sellers reduce inventory. 1 ct. RAPI -2.4% in June, -23.9% year on year. Kimberley Process (KP) reports 2022 global rough production volume of 118M cts. (-1%) at $16.02B (+24%), with rough prices up; Russia exports totaled 36.7M cts. (-24%) at $3.9B (-4%), indicating impact from sanctions. Rough market quiet ahead of next week's De Beers sight. Israel 1H polished exports -24% to $1.7B, rough imports -45% to $555M. Read More

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct -0.36% -0.64% -2.21% 0.50 ct -1.04% -3.51% -23.11% 1.00 ct -0.75% -2.50% -24.13% 3.00 ct -0.50% -1.33% -16.07%

Market Reports   United States: Concerns about market decline and the impact of lab-grown diamonds…   Belgium: Dealers waiting for post-vacation rebound…   Israel: Nice fancy shapes are pocket of strength, but supply is limited…   India: Prices still declining because sellers need liquidity…   Hong Kong: Engagement-ring market supporting sector amid economic challenges across the region…

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Podcast: A Crisis in Green Diamonds The market is seeing a spate of green diamonds coming back from grading labs as treated, GGTL Laboratories cofounder Thomas Hainschwang tells Rapaport's Joshua Freedman. Listen Here

How to Upsell Gen Z to a Natural Diamond Engagement Ring By Jennifer Heebner Savvy retailers are helping younger clients see the benefits of choosing mined stones.   Read More

Tiffany & Co.: Reinventing an Icon By Kate Matthams What can jewelers learn from the brand's efforts to attract young consumers? Read More

De Beers, Botswana Poised to Partner on High-Value Diamonds New agreement calls for opportunities to coinvest in exceptional stones. See More Diamond Prices Fall as Retail Slump Continues Weak US and Chinese demand put midstream under pressure in June. See More Russia's Rough Exports Fell – but Didn't Collapse – in 2022 Sanctions by US and other G7 nations led to 24% decline year on year. See More New De Beers Deal: Botswana to Keep More Diamonds Okavango to receive up to 50% of Debswana production. See More Jewelers Helping Jewelers Launches Sister Site for Support Group provides space to share information following store robberies. See More Hong Kong Luxury Sales Grow Amid Tourism Spike Revenue from jewelry, watches, clocks and other valuable gifts up 52% in May. See More Alex and Ani Reportedly Closes 20 Stores and Its HQ Jeweler told some employees hours before locations were due to shut, according to report. See More Global Slowdown Hits Israel's Diamond Trade in June Net polished exports fall into negative territory due to returns from JCK show. See More Colored Stones to Lead Sotheby's Jewelry Sale Jadeite necklace, green and yellow diamonds, and rubies are top items on offer. See More Bonhams to Offer $100K Cartier Diamond Ring Piece featuring rectangular step-cut, 3.89-carat stone between two emeralds will lead California Jewels sale. See More Gem Diamonds Recovers 164ct. Yellow Diamond Stone is second over 100 carats from Letšeng this year. See More Lulo Mine Yields 181ct. Rough Diamond Stone is third-largest ever recovered from deposit, and 37th over 100 carats. See More

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