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RAPAPORT ® TRADEWIRE ®
January 22, 2026
Rapaport Market Comment - January 22, 2026

De Beers sightholders estimate sharp price cuts at Jan. sight, especially in 0.75 to 2 ct., with increases in 5 ct. and larger. Miner shifts to one-line invoices, limiting price transparency. India trading slow amid soft polished prices. Vicenza show reflects positive market for high-end jewelry. Uncertainty in Europe due to Greenland tensions. India 2025 polished exports after returns -10% to $8.3B due to price declines, with volume +5% to 15M cts. as shipments to UAE and Hong Kong offset US slump. Rough imports -8% to $11.1B. Botswana predicts continued low mining production as country ends 2025 with inventory of 12M cts.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct -0.04% -2.89% -20.74%
0.50 ct -0.06% -0.84% -26.07%
1.00 ct -0.13% -1.33% -8.96%
2.00 ct -0.09% -0.75% -2.20%
3.00 ct -0.66% -1.59% -1.17%
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Market Reports
United States: Small dealers suffering from lack of access to supply…
United States: Small dealers suffering from lack of access to supply…
Belgium: Market split continues, with diamonds under 1 ct. soft and 2 ct. and bigger steady…
Belgium: Market split continues, with diamonds under 1 ct. soft and 2 ct. and bigger steady…
Israel: Dealers still hoping for Israeli exemption on import duties for diamonds…
Israel: Dealers still hoping for Israeli exemption on import duties for diamonds…
India: High gold prices impacting domestic jewelry demand…
India: High gold prices impacting domestic jewelry demand…
Hong Kong: Mainland VAT hike pushing locals to shop in Hong Kong…
Hong Kong: Mainland VAT hike pushing locals to shop in Hong Kong…
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De Beers Appears to Cut Prices, Shifts to More Opaque Invoices
By Joshua Freedman

Sightholders say new system makes rough less commoditized.

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Miner will hold 10 sales during the year.
De Beers Announces 2026 Sight Dates
Miner will hold 10 sales during the year.
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Government expects prolonged weakness in rough values.
Botswana Faces Slow Recovery as Diamond Inventory Grows
Government expects prolonged weakness in rough values.
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Achievement aligns with Luanda Accord, supporting natural-diamond industry and its communities through marketing and education.
Endiama and Sodiam Formally Join NDC as Members
Achievement aligns with Luanda Accord, supporting natural-diamond industry and its communities through marketing and education.
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Overall revenue up 18% year on year.
Chow Tai Fook Sees Steady Recovery in Third Quarter
Overall revenue up 18% year on year.
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Company’s overall revenue up 26% year on year.
Luk Fook Beats Expectations in Third Quarter
Company’s overall revenue up 26% year on year.
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Supply to key market down 44% for April-to-December period amid tariff tension.
India’s Gem and Jewelry Exports to the US Plummet
Supply to key market down 44% for April-to-December period amid tariff tension.
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Budget takes precedence for many consumers as these and other market factors challenge local businesses.
India’s Jewelers Grapple with Soaring Gold Prices, Falling Margins
Budget takes precedence for many consumers as these and other market factors challenge local businesses.
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Hong Kong jeweler opens store in Bangkok, plans launch in Australia.
Chow Tai Fook Steps Up International Expansion
Hong Kong jeweler opens store in Bangkok, plans launch in Australia.
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Fraudsters fabricated opportunities to work with miner in return for money and data, company says.
Alrosa Warns of Scam by Fake Recruiters
Fraudsters fabricated opportunities to work with miner in return for money and data, company says.
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Winner will receive $50,000 and mentorship.
JA, David Yurman Name GEM Awards Grant Finalists
Winner will receive $50,000 and mentorship.
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Transaction terms protect jobs of over 100 staff members.
Amaar Jewels Acquires Australian Secrets Shhh Brand
Transaction terms protect jobs of over 100 staff members.
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Exec, who joined the company in 2013, will also lead customization teams.
Taylor Burgess to Head Merchandising, Marketing and Sales at Stuller
Exec, who joined the company in 2013, will also lead customization teams.
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