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RAPAPORT ® TRADEWIRE ®
December 16, 2022
Rapaport Market Comment - December 15, 2022

Mixed sentiment ahead of final shopping weekend before Christmas. Retailers anticipate strong Super Saturday (Dec. 17) traffic as consumers make last-minute purchases. Mastercard reports US jewelry sales -3.9% in Nov., but category well above pre-pandemic levels. China slow but optimism rises for release of pent-up demand after zero-Covid policy lifted in time for peak season. Dealers are being conservative as jewelers are selective and waiting for New Year to buy inventory. Rough market quiet. Petra Diamonds Dec. tender sales -67% to $42M, prices +2.2% vs. Nov. De Beers plans 2023 production of 30M to 33M cts. vs. 34M cts. this year; expected to raise supply to Botswana factories.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct 0.33% 0.37% -7.61%
0.50 ct 0.07% -0.61% -9.80%
1.00 ct -0.10% -1.90% -6.15%
3.00 ct -0.14% -1.52% 1.50%
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Market Reports
<p><strong>United States: </strong>Retail below 2021 levels, but jewelers satisfied with business and wary of building up inventory in uncertain economic environment…</p>
United States: Retail below 2021 levels, but jewelers satisfied with business and wary of building up inventory in uncertain economic environment…
<p><strong>Belgium: </strong>Luxury brands driving orders and insisting on source verification following Russia’s invasion of Ukraine…</p>
Belgium: Luxury brands driving orders and insisting on source verification following Russia’s invasion of Ukraine…
<p><strong>Israel: </strong>Dealers holding back from buying due to concerns that prices will keep dropping…</p>
Israel: Dealers holding back from buying due to concerns that prices will keep dropping…
<p><strong>India: </strong>Some cutting firms struggling due to shortage of suitable material for producing melee…</p>
India: Some cutting firms struggling due to shortage of suitable material for producing melee…
<p><strong>Hong Kong: </strong>Optimism rising for Chinese sales ahead of January 22 Lunar New Year…</p>
Hong Kong: Optimism rising for Chinese sales ahead of January 22 Lunar New Year…
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The Year That Hindered Growth
By Avi Krawitz

The past 12 months will be remembered for the impact that geopolitical and economic developments had on all industries, as well as the continued effects of Covid-19 in parts of the world.

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Podcast: China’s Post-Pandemic Potential

The diamond trade should anticipate a release of pent-up demand from Chinese consumers as Beijing eases its “zero Covid” policy, says Mountain Province CEO Mark Wall.

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By Rachael Taylor

Climate action is key for the Watch & Jewellery Initiative 2030, says executive director Iris Van der Veken.

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Element Six CEO to Step Down
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Manufacturing Trade Group MJSA Reelects Chairman
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