Rapaport TradeWire December 14, 2023

December 14, 2023

Rapaport Market Comment - December 14, 2023 Prices of rounds stable; mixed trend in fancies. Market steady, but future uncertain as Indian production resumes. Polished inventories down due to lower production, but oversupply is a concern if manufacturers buy too much rough. US holiday sales supporting B2B demand for round, 1 to 3 ct., F-I, VS-SI, 3X diamonds. Indian sellers asking for higher prices, but clients only willing to buy when purchasing for specific orders. Alrosa 3Q revenue +55% YOY to $874M, Interfax estimates. Rough prices recovering at auctions and tenders, with Petra Dec. prices +19% from Sep.-Oct. Some sightholders expect price drops at De Beers Jan. sight, as miner needs revenue following 2H losses. US Oct. polished imports -21% to $1.5B. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.02% 0.46% -4.23% 0.50 ct 0.33% 0.96% -27.58% 1.00 ct 0.03% 0.16% -21.59% 3.00 ct -0.05% -0.33% -12.06%

Market Reports   United States: Melee market still strong as retailers make final Christmas orders…   Belgium: Steady orders for 0.30 and 1 ct., 3X diamonds…   Israel: Prices have risen, but dealers unsure whether recovery will continue after fourth-quarter shopping season…   India: Sentiment good; demand has improved, and supply remains limited…   Hong Kong: Mainland China retailers selling items with melee, gold, and synthetic diamonds as weak economy forces budget cuts…

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Podcast: Selling the Botswana Story Nicholas Moltke came on the Rapaport Diamond Podcast to explain why now is the right time to launch Botswanamark, the former De Beers executive's single-source brand targeting US consumers. Listen Here

Podcast: The Passionate, Practical Appraiser New York-based Jennifer Leitman Bailey has a deep love and enthusiasm for jewelry, but she's all business when determining fair market value for her clients' pieces. Listen Here

Sponsored Content: AGTA's Legacy of Ethical Excellence In this first half of a two-part series, we explore some of the American Gem Trade Association's key achievements. Read More

Anglo American to Cut De Beers' Expenses by $100M No changes to 2024 production plan despite weak demand. See More Gas Release at Alrosa Mine Kills Three – Report Criminal case opens following incident at Udachny underground deposit, Russia's Interfax says. See More Petra Believes Rough Prices Have 'Bottomed' Latest tender sees 19% like-for-like increase. See More Super Saturday Shopper Count Expected to Fall Some 142 million will turn up this year, NRF predicts. See More Petra Finds Potential Buyer for Shuttered Mine Koffiefontein deposit in South Africa has been on care and maintenance since November 2022. See More NDC, Black in Jewelry Coalition Unveil High-School Program Goal is to provide experience in each sector of the industry. See More A Diamond in a Vacuum Cleaner, and This Week's Other News Plus: Do natural stones have supernatural qualities? See More Breitling Buys Universal Genève, Vows to Restore Its Glory Swiss watchmakers will operate as separate companies. See More Four Large Lulo Diamonds Earn $17M for Lucapa Miner sold 609 carats of rough at Sodiam tender in Angola. See More Sotheby's New York Jewelry Sale Fetches $8M Emerald-cut, 8.02-carat diamond is top seller at $215,900. See More

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