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RAPAPORT ® TRADEWIRE ®
February 23, 2023
Rapaport Market Comment - February 23, 2023

Diamond market quiet due to US seasonal lull and gradual China recovery. Dealers hoping March Hong Kong show will signal release of pent-up Chinese demand. Pressure mounting to strengthen sanctions on Russian diamonds and include traceability requirements. Small polished stable, but manufacturing margins squeezed after De Beers raised prices for corresponding rough by average 10% at Feb. sight. De Beers 2022 revenue +18% to $6.6B, earnings +60% to $552M, average price +35% to $197/ct., price index +23%. Rio Tinto 2022 diamond sales +63% to $816M, earnings +53% to $151M. Dubai bolstering its position as rough trading center: 2022 rough imports +7% to $10.7B, exports +7% $13.9B.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct 0.84% 3.28% -8.22%
0.50 ct -0.17% -0.21% -18.60%
1.00 ct -0.01% -1.01% -21.38%
3.00 ct -0.70% -0.45% -14.42%
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Market Reports
United States: Gradual improvement in polished trading after slow January…
United States: Gradual improvement in polished trading after slow January…
Belgium: Small goods steady, with solid sales of 0.50 to 0.90 ct., G-J, VS-SI dossiers…
Belgium: Small goods steady, with solid sales of 0.50 to 0.90 ct., G-J, VS-SI dossiers…
Israel: High-end fancy-shape suppliers doing well…
Israel: High-end fancy-shape suppliers doing well…
India: Profit margins thin amid high rough prices on secondary market…
India: Profit margins thin amid high rough prices on secondary market…
Hong Kong: Local dealers upbeat for March show, hoping mainland buyers will make purchases after months of slow movement…
Hong Kong: Local dealers upbeat for March show, hoping mainland buyers will make purchases after months of slow movement…
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Podcast: The Path Toward Sustainability

Rapaport’s Avi Krawitz chats with Iris Van der Veken of the Watch & Jewellery Initiative 2030 about the organization’s immediate and long-term goals.

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Webinar: What’s Shaping the Diamond Market?
By Avi Krawitz

Six major factors will determine the makeup of the diamond industry this year following a market decline in 2022’s second half, according to Rapaport Senior Analyst Avi Krawitz.

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The Auction Market Is Becoming Harder to Forecast
By Anthony DeMarco

Hammering out the details: Signed jewels and white diamonds are some of the safer bets for collectors, insiders say.

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Stones that produce melee see second consecutive hike.
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Dubai Diamond Trade Sees Further Growth
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North America head will take senior international role.
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Organization had not seen this type of enhancement before.
GIA Discovers Spinel Treated by Nickel Diffusion
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Municipality’s inbound polished shipments rose 3% in 2022.
Higher Average Price Drives Growth in Hong Kong Imports
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Company will introduce shops in markets including Atlanta, Georgia, and Dallas, Texas.
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