Rapaport TradeWire October 26, 2023

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RAPAPORT ® TRADEWIRE ®
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.

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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%
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Market Reports
United States: Round, 1 to 2 ct., H-J, SI2-I1 goods under pressure from synthetics…    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…    Belgium: Demand focusing on 3X goods with no fluorescence…
Israel: Market slow and prices falling…    Israel: Market slow and prices falling…
India: Domestic consumers supporting market during wedding and festive season…    India: Domestic consumers supporting market during wedding and festive season…
Hong Kong: Prices on downward trend; sales difficult…    Hong Kong: Prices on downward trend; sales difficult…
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Heartache, Worry and Helping Hands: Jewelry Industry Weighs In on Israel-Hamas War
By Jennifer Heebner

As trade members mourn those they've lost, some join the battle themselves, and others offer aid however they can.

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Where Petra Diamonds Sees Its Competitive Edge
By Avi Krawitz

The company's investment in production is just one way it's differentiating itself in the diamond market.

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The Weekly Gems: News and Videos from Around the Web

Featuring recovered stolen artifacts and jewelers' pet peeves.

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