Polished March 22, 2023 Podcast: Sanctions, Hong Kong and AI The team highlights the events, trends and quirky stories that have shaped the industry in the first quarter.
Market Comment - Mar. 23, 2023
Diamond trading quiet amid US economic caution. US Federal Reserve raises interest rates 0.25 basis points, aiming to reduce inflation from 6% in February to 2%.
Chinese buyers lack urgency after Hong Kong show signaled their reentry to the market. Smalls doing better than certs.
Manufacturer profit margins tightening after price increases of small rough in 1Q. Polished production stable at low levels; inventory reduced in popular categories.
G7 working on plan to oblige companies to declare their supply is not sourced from Russia ahead of May meeting.
Martin Rapaport to address supply chain challenges and opportunities at Israel’s International Diamond Week on Monday, March 27.