Rapaport TradeWire December 21, 2023

December 21, 2023

Rapaport Market Comment - December 21, 2023 Dealer market slow as US retailers focus on final Christmas sales. Solid holiday results expected. Polished prices stable. Indian manufacturers slowly reopening. De Beers Dec. sales -69% YOY to $130M; miner predicts gradual recovery in rough trading now that supply-demand balance has improved. India Nov. polished exports -12% to $1.1B, rough imports -76% to $314M amid voluntary shipment freeze. European Union declares first sanctions on Russian diamonds, says ban will extend to synthetics, jewelry and watches. Indian President Narendra Modi inaugurates Surat Diamond Bourse. Rapaport wishes everyone happy holidays. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.52% 0.94% -4.22% 0.50 ct 0.89% 1.85% -26.78% 1.00 ct -0.10% -0.05% -21.43% 3.00 ct 0.08% -0.52% -11.66%

Market Reports   United States: Inventory harder to replace following drop in Indian polished production…   Belgium: Steady demand for melee and large diamonds; mid-sizes slow…   Israel: Market stable but uncertain, with companies focusing on holiday sales…   India: Manufacturers careful not to buy too much and are keeping production low amid uncertainty about future prices…   Hong Kong: Stable demand for 0.50 to 1 ct., D-J, VVS-SI1 diamonds…

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A New Dawn for the Botswana Diamond Industry By Avi Krawitz The country is at a pivotal point in its diamond journey, with the new deal between De Beers and the government seen as a catalyst for growth. Read More

G7 Members Confirm Bans on Russian Diamonds WFDB criticizes plan to introduce single entry point for rough goods. See More De Beers Sales Sluggish but Showing Signs of Recovery Revenue for December sight up 51% from previous cycle. See More US Retail Sales Rebound, Beat Expectations Lower inflation and stronger job market spurred November increase, National Retail Federation explains. See More Sales Strengthen at Canada's Ekati Diamond Mine Revenue up 40% year on year in fourth quarter to date, says owner Burgundy. See More US, Hong Kong Drive Record Month for Swiss Watch Exports Total shipments for November up 3.1% year on year. See More 2024 Design Trends, and This Week's Other News Three jewelers share what they keep on their desks, and tourists find a valuable souvenir at a national park. See More Malyia McNaughton Takes Over as President of BIJC Three new members join Black in Jewelry Coalition's board of directors. See More 108ct. Pink Diamond at Heart of New Partnership Choron has signed an agreement with Kao mine owner Storm Mountain to manufacture stone. See More India's Rough Imports Slump Amid Supply Freeze Polished exports fell at slower rate in November than in previous months. See More Christie's Paris Auction Brings In $8M Total is highest for jewelry sale in France this year. See More John Hardy Beefs Up Executive Team Amid Transformation Aida Alvarez becomes jeweler's senior vice president of revenue for the Americas. See More

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