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RAPAPORT ® TRADEWIRE ®
December 21, 2023
Rapaport Market Comment - December 21, 2023

Dealer market slow as US retailers focus on final Christmas sales. Solid holiday results expected. Polished prices stable. Indian manufacturers slowly reopening. De Beers Dec. sales -69% YOY to $130M; miner predicts gradual recovery in rough trading now that supply-demand balance has improved. India Nov. polished exports -12% to $1.1B, rough imports -76% to $314M amid voluntary shipment freeze. European Union declares first sanctions on Russian diamonds, says ban will extend to synthetics, jewelry and watches. Indian Prime Minister Narendra Modi inaugurates Surat Diamond Bourse. Rapaport wishes everyone happy holidays.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct 0.52% 0.94% -4.22%
0.50 ct 0.89% 1.85% -26.78%
1.00 ct -0.10% -0.05% -21.43%
3.00 ct 0.08% -0.52% -11.66%
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Market Reports
United States: Inventory harder to replace following drop in Indian polished production…
United States: Inventory harder to replace following drop in Indian polished production…
Belgium: Steady demand for melee and large diamonds; mid-sizes slow…
Belgium: Steady demand for melee and large diamonds; mid-sizes slow…
Israel: Market stable but uncertain, with companies focusing on holiday sales…
Israel: Market stable but uncertain, with companies focusing on holiday sales…
India: Manufacturers careful not to buy too much and are keeping production low amid uncertainty about future prices…
India: Manufacturers careful not to buy too much and are keeping production low amid uncertainty about future prices…
Hong Kong: Stable demand for 0.50 to 1 ct., D-J, VVS-SI1 diamonds…
Hong Kong: Stable demand for 0.50 to 1 ct., D-J, VVS-SI1 diamonds…
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A New Dawn for the Botswana Diamond Industry
By Avi Krawitz

The country is at a pivotal point in its diamond journey, with the new deal between De Beers and the government seen as a catalyst for growth.

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WFDB criticizes plan to introduce single entry point for rough goods.
G7 Members Confirm Bans on Russian Diamonds
WFDB criticizes plan to introduce single entry point for rough goods.
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Revenue for December sight up 51% from previous cycle.
De Beers Sales Sluggish but Showing Signs of Recovery
Revenue for December sight up 51% from previous cycle.
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Lower inflation and stronger job market spurred November increase, National Retail Federation explains.
US Retail Sales Rebound, Beat Expectations
Lower inflation and stronger job market spurred November increase, National Retail Federation explains.
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Revenue up 40% year on year in fourth quarter to date, says owner Burgundy.
Sales Strengthen at Canada’s Ekati Diamond Mine
Revenue up 40% year on year in fourth quarter to date, says owner Burgundy.
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Total shipments for November up 3.1% year on year.
US, Hong Kong Drive Record Month for Swiss Watch Exports
Total shipments for November up 3.1% year on year.
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Three jewelers share what they keep on their desks, and tourists find a valuable souvenir at a national park.
2024 Design Trends, and This Week’s Other News
Three jewelers share what they keep on their desks, and tourists find a valuable souvenir at a national park.
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Three new members join Black in Jewelry Coalition’s board of directors.
Malyia McNaughton Takes Over as President of BIJC
Three new members join Black in Jewelry Coalition’s board of directors.
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Choron has signed an agreement with Kao mine owner Storm Mountain to manufacture stone.
108ct. Pink Diamond at Heart of New Partnership
Choron has signed an agreement with Kao mine owner Storm Mountain to manufacture stone.
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Polished exports fell at slower rate in November than in previous months.
India’s Rough Imports Slump Amid Supply Freeze
Polished exports fell at slower rate in November than in previous months.
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Total is highest for jewelry sale in France this year.
Christie’s Paris Auction Brings In $8M
Total is highest for jewelry sale in France this year.
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Aida Alvarez becomes jeweler’s senior vice president of revenue for the Americas.
John Hardy Beefs Up Executive Team Amid Transformation
Aida Alvarez becomes jeweler’s senior vice president of revenue for the Americas.
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