Rapaport TradeWire October 19, 2023

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RAPAPORT ® TRADEWIRE ®
October 19, 2023
 
Rapaport Market Comment - October 19, 2023

Industry mourns Israel bourse members and their families who were killed in Hamas attacks and ongoing war. Global trading quiet; prices continue to fall. US market preparing for holiday season. India voluntarily freezes rough imports from Oct. 15. G7 discussing options for Russian diamond ban. Rapaport to release US Diamond Protocol next week in opposition to WDC G7 Protocol. Ukraine government agency removes India's SRK from "war sponsor" list. WD Lab Grown files for bankruptcy, estimates $44.8M in liabilities. Petra rough-tender prices -17% from previous sale. Rio Tinto 3Q production -37% to 757,000 cts. Hong Kong jeweler TSL projects $6.4M 1H loss and warns about weak China market.

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RAPNET DIAMOND INDEX (RAPI™)
  Weekly Monthly Y2Y
0.30 ct -0.07% -2.34% -5.22%
0.50 ct -0.26% -4.62% -30.90%
1.00 ct -0.57% -4.26% -25.79%
3.00 ct -0.17% -1.71% -14.53%
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Market Reports
United States: Commercial melee prices stable for VS and SI but declining for collection (D-F, VVS) qualities…    United States: Commercial melee prices stable for VS and SI but declining for collection (D-F, VVS) qualities…
Belgium: Polished market slow amid buyer caution…    Belgium: Polished market slow amid buyer caution…
Israel: Companies looking to operate internationally due to drop in domestic business…    Israel: Companies looking to operate internationally due to drop in domestic business…
India: Domestic market steady amid festive season and wedding preparation…    India: Domestic market steady amid festive season and wedding preparation…
Hong Kong: More dealers and buyers showing interest in synthetic diamonds…    Hong Kong: More dealers and buyers showing interest in synthetic diamonds…
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The Weekly Gems: News and Videos from Around the Web

Prada embraces synthetics, Leonardo DiCaprio invests in a sustainable watchmaker, and are there too many books about Cartier?

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The Art of Chaumet
By Phyllis Schiller

Over two centuries of the Parisian jewelry house's archival drawings come to life in a book on its nature-inspired creations.

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Chairman Martin Rapaport heads delegation of dealers and jewelers.
Rapaport Kicks Off Diamond Trade Mission in Sierra Leone
Chairman Martin Rapaport heads delegation of dealers and jewelers.
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Namibia factory manager, killed during Hamas attack on Israel, was
Grandview Klein Mourns Fallen Executive Isaac Siton and Family
Namibia factory manager, killed during Hamas attack on Israel, was "a phenomenal human being," recalls company head Moshe Klein.
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Ethical sourcing, gender equality, and synthetic diamonds were among the hot topics at the World Jewellery Confederation's recent gathering in Jaipur.
5 Takeaways from the CIBJO Congress
Ethical sourcing, gender equality, and synthetic diamonds were among the hot topics at the World Jewellery Confederation's recent gathering in Jaipur.
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Company says it's no longer sourcing diamonds from Russia.
Ukraine Deletes Indian Cutter SRK from List of War Sponsors
Company says it's no longer sourcing diamonds from Russia.
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Spending rose only 0.7% compared with previous month.
US Retail Sales Growth Sluggish
Spending rose only 0.7% compared with previous month.
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Company estimates liabilities of nearly $45 million.
WD Lab Grown Diamonds Files for Bankruptcy
Company estimates liabilities of nearly $45 million.
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Revenue outside of China up 54% year on year in second fiscal quarter.
Hong Kong Tourist Revival Supports Chow Tai Fook Sales
Revenue outside of China up 54% year on year in second fiscal quarter.
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Same-store sales up 31% year on year in second quarter.
Hong Kong Rebound Boosts Luk Fook Revenue
Same-store sales up 31% year on year in second quarter.
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Company cites waning consumer confidence in mainland China.
Hong Kong Jeweler TSL Warns of Loss in First Half
Company cites waning consumer confidence in mainland China.
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Company ceased production at one underground pipe and portion of open pit.
Rio Tinto Output Slows as Mine Dries Up
Company ceased production at one underground pipe and portion of open pit.
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September-October trading session ends with total sales of $40.5 million.
Final Prices for Latest Petra Tender Down 17%
September-October trading session ends with total sales of $40.5 million.
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