News: Diamond market quiet amid stalled China recovery and US economic caution. US consumer confidence +0.8% in March despite banking turmoil and interest rate hikes, Conference Board says. Botswana government to buy 24% of HB Antwerp and supply HB with rough through Okavango Diamond Company; deal puts spotlight on delayed De Beers-Botswana negotiations. Chow Sang Sang 2022 revenue -7% to $2.6B, profit -30% to $58M. Lab-grown dominates discussions at Israel meetings. NDC appeals to trade to help fund marketing. Yoram Dvash reelected WFDB president, Ronnie VanderLinden as IDMA president. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON APRIL 7 AND 14 DUE TO THE JEWISH HOLIDAY OF PASSOVER.
Fancies: Fashion driving demand for elongated Ovals, Emeralds and Radiants. Goods with medium and short ratios are weak and declining in value. Slow market for 0.30 to 1.20 ct. diamonds. 1.25 ct. and larger, F-J, VS-SI categories stable. Supply shortages of well-cut fancies supporting prices. Oval is leading shape, followed by Radiant, Emerald, Pear, Cushion and Marquise. Retailers offering broader product ranges as consumers seek alternative cuts. Excellent shapes commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid and difficult to sell.