Rapaport TradeWire September 28, 2023

September 28, 2023

Rapaport Market Comment - September 28, 2023 TRADE WARNING: DIAMOND PRICES UNDER EXTREME PRESSURE AND FALLING AS INDIAN TRADE CALLS FOR VOLUNTARY HALT OF ROUGH IMPORTS. Market waiting for De Beers' reaction. Surat manufacturers slashing production and planning extended Diwali break. China slow, with concerns about mainland economy after real-estate giant Evergrande misses bond payment. Synthetics gaining popularity in China as shoppers shift to lower price points. Lucara terminates HB supply deal. Diamond-jewelry demand flat at $86.5B in 2022, De Beers estimates. AWDC president David Gotlib resigns. Rapaport "Warning to the Trade" webinar now online via rapaport.com/warningtothetrade. Read More

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct -0.69% -4.28% -5.65% 0.50 ct -1.07% -6.08% -30.49% 1.00 ct -0.85% -5.12% -25.49% 3.00 ct -0.51% -2.68% -14.98%

Market Reports   United States: Memo driving the market, as jewelers don't want to acquire stock. Nice goods in short supply…   Belgium: Dealers losing money and concerned about costs…   Israel: Activity expected to return after Oct. 8, with hope for fourth-quarter improvement…   India: Domestic market steady ahead of Diwali and busy wedding season…   Hong Kong: Chinese buyers were absent from Jewellery & Gem World show, or attended only to check prices…

View Full Report

Podcast: From Engagement Gap to Wedding Boom? The Rapaport team delves into the latest bridal developments with jewelry journalist Rachael Taylor and James Allen chief marketing officer Shannon Delany-Ron. Listen Here

Why Retail Jewelers Aren't Buying By Avi Krawitz A changed approach to diamond inventory is causing a slowdown in polished trading. Read More

The Weekly Gems: News and Videos from Around the Web This latest roundup spotlights an exclusive, diamond-encrusted credit card and a recreation of the Imperial State Crown.   Read More

India to Pause Rough-Diamond Imports for Two Months Voluntary freeze to go into effect on October 15. See More Lucara Terminates Rough-Supply Agreement with HB Miner cites "material breach of financial commitments" by Belgian manufacturer. See More Hong Kong Show Meets Low Expectations Weak economy, falling prices, and competition from lab-grown impacted confidence. See More De Beers Expects Oversupply to Continue for Now Consumer demand is lagging behind 2021 and 2022 levels, miner says in Diamond Insight Report. See More 74ct. Yellow Diamond to Lead Sotheby's Hong Kong Top item at October 6 Magnificent Jewels sale expected to bring in up to $5.1 million. See More Chaumet Diamond Necklace Fetches $372K at Bonhams Signed jewels and period pieces dominate London auction. See More Christie's Scores $7M at Shanghai Luxury Sale 25-carat yellow-diamond ring by Bulgari achieves $2.8 million. See More Jewels Smash Estimates at Bonhams California Auction Platinum, sapphire and diamond ring by Ruser fetches $127,500. 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