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RAPAPORT ® TRADEWIRE ®
August 4, 2022
Rapaport Weekly Market Comment - August 4, 2022

News: Diamond market quiet. Deep concerns about trading slowdown and prospects for 2H. US retail steady; jewelers cautious about buying large amounts of inventory. China sluggish amid rising geopolitical tensions and economic uncertainty. Mumbai IIJS show opens with spotlight on domestic jewelry market, exchange rate volatility, and rough supply. Rough trading stable as Alrosa’s isolation spurs demand for non-Russian production. Miners and service providers accelerating source-verification programs. Lucapa 2Q revenue -36% to $22M, recovers 170 ct., type IIa pink at Lulo mine. Asian Star 1Q sales +45% to $159M, profit +4% to $2.7M. GIA to open Dubai lab. AGTA appoints John Ford as CEO.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct -0.4% -2.9% -5.2%
0.50 ct -0.6% -3.1% -0.1%
1.00 ct -0.8% -3.1% 9.8%
3.00 ct -0.9% -2.5% 18.8%
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Market Reports
United States: Steady demand from high-end jewelers as industry starts to prepare holiday inventory…
United States: Steady demand from high-end jewelers as industry starts to prepare holiday inventory…
Belgium: Traders uncertain about second half due to US and China volatility and high rough prices…
Belgium: Traders uncertain about second half due to US and China volatility and high rough prices…
Israel: Locals reluctant to buy as overseas clients reduce their inventory needs…
Israel: Locals reluctant to buy as overseas clients reduce their inventory needs…
India: Prices for certified diamonds have slid in rounds and fancy shapes…
India: Prices for certified diamonds have slid in rounds and fancy shapes…
Hong Kong: Government consumption vouchers having limited impact on luxury sector…
Hong Kong: Government consumption vouchers having limited impact on luxury sector…
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Podcast: Becoming an Antique Jewelry Collector

Beth Bernstein discusses her latest book on how to appreciate and purchase pieces from the Georgian period through the Art Deco era.

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Why Memo Is Good for the Trade
By Robert Hoberman

Taking items on consignment lets retailers keep their options open, conserve capital, and cut down on credit-line complications.

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Top Stories of the Week
Prices slid in July amid economic and geopolitical concerns.
Diamond Market Uncertain During Summer Slowdown
Prices slid in July amid economic and geopolitical concerns.
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Physical pieces will be available to collectors of CryptoPunks.
Tiffany to Sell NFT Pendants for $50K Each
Physical pieces will be available to collectors of CryptoPunks.
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Diamond manufacturer HRA to polish Plasmability’s CVD rough.
Canadian Cutter Links Up with Lab-Grown Maker
Diamond manufacturer HRA to polish Plasmability’s CVD rough.
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Launch comes around two years after institute closed its office in the emirate.
GIA to Open Lab in Dubai
Launch comes around two years after institute closed its office in the emirate.
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FCRF cites robust retail demand and “fierce” competition for rough.
Fancy-Color Price Index Rises
FCRF cites robust retail demand and “fierce” competition for rough.
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Sales more than tripled year on year in first six months.
Strong Prices Drive Rio Tinto Profit Surge
Sales more than tripled year on year in first six months.
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Hard-luxury revenues up 2.3% for the month, compared to 8% growth in May.
Hong Kong Jewelry Sales Sluggish in June
Hard-luxury revenues up 2.3% for the month, compared to 8% growth in May.
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Energy and mining mogul died at 64 following two-year battle with brain cancer.
Lucara Mourns Loss of Cofounder Lukas Lundin
Energy and mining mogul died at 64 following two-year battle with brain cancer.
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Company blames lower figures on comparison with last year’s unusually strong second quarter.
Sales Downturn at Angola Mine Hits Lucapa
Company blames lower figures on comparison with last year’s unusually strong second quarter.
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Company will provide jeweler Solid Gold with fancy-colored stones for bridal and high-value custom pieces.
Burgundy Diamond Mines Inks New Polished Deals
Company will provide jeweler Solid Gold with fancy-colored stones for bridal and high-value custom pieces.
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Owner of The Lightning Ridge Collection to take on new role immediately.
John Ford Becomes CEO at AGTA
Owner of The Lightning Ridge Collection to take on new role immediately.
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Sales up 45% year on year in quarter ending June 30.
India’s Asian Star Sees Strong Revenue Growth
Sales up 45% year on year in quarter ending June 30.
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