Rapaport TradeWire October 26, 2023

October 26, 2023

Rapaport Market Comment - October 26, 2023 Rapaport US Diamond Protocol for restricting US imports of sanctioned Russian diamonds will be released Tuesday, Oct. 31, on rapaport.com/sanctions. US retailers finalizing purchases before India's Diwali holiday, which begins Nov. 12. Weak demand at De Beers sight amid Indian freeze on rough imports. De Beers 3Q sales -19% to 7.4M cts., production -23% to 7.4M cts. Botswana president warns of growing threat from synthetic diamonds, calls them microwave diamonds. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct -0.28% -2.20% -5.04% 0.50 ct -0.58% -4.43% -30.85% 1.00 ct -0.16% -3.96% -25.32% 3.00 ct -0.08% -1.41% -14.50%

Market Reports   United States: Round, 1 to 2 ct., H-J, SI2-I1 goods under pressure from synthetics…   Belgium: Demand focusing on 3X goods with no fluorescence…   Israel: Market slow and prices falling…   India: Domestic consumers supporting market during wedding and festive season…   Hong Kong: Prices on downward trend; sales difficult…

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De Beers to 'Progress' WDC Protocol on Russian Diamonds African producers argue that current proposals would harm continent's miners. See More De Beers Output Slumps Amid Venetia Mine Transition Production down 23% year on year in third quarter. See More This Holiday, Expect Shoppers to Spend More – and Earlier Average outlay on gifts will be 5% above last year, NRF projects. See More Jewelry Sales Solid at Kering Even as Luxury Falters Boucheron, Pomellato and Qeelin all saw growth in third quarter. See More US Jewelry Businesses Shutting at Faster Rate 179 companies closed in third quarter, compared with 160 a year earlier. See More Weak Rough Prices Dent Petra Sales Revenue down 4% in first fiscal quarter. See More Sotheby's to Offer 104ct. Yellow Diamond in Geneva Auction house expects Love Stone to fetch up to $4.1 million. See More 20ct. Pink Diamond Could Fetch $16.5M at Phillips November sale also features jewelry from Fred, Bulgari and other top houses. See More Rio Tinto to Hold Tender of 87 Fancy-Colored Diamonds Collection includes pinks, reds and yellows from Argyle and Diavik mines. See More Lucapa Sales Dip Due to Timing of Lulo Tender Revenue down 43% in third quarter. See More Hong Kong Recovery Buoys Exports of Swiss Watches Shipments to municipality rose 24% year on year in September. See More Sandrine Conseiller Named CEO of De Beers Brands Former Unilever exec will join company December 1, replacing Marc Jacheet. See More

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