Happy New Year. Diamond markets quiet and sentiment cautious due to seasonal lull and general uncertainty. Polished prices continue to decline. 1 ct. RAPI -1.5% in Dec. and -10.7% in 2022, but 0.30 ct. RAPI +1.2% in Dec. after sharp decline in supply during the year. Midstream ended 2022 with high inventory. Manufacturers maintaining low polished production, cutting prices to offload less-popular goods and to raise liquidity. Sightholders hoping De Beers will reduce rough prices at Jan. 16 sight to stimulate demand and ease manufacturing profit concerns. Muted expectations for Jan. 22 Chinese New Year. Israel Dec. polished exports -39% to $161M, rough imports -33% to $142M.

After a slow start, independent retailers enjoyed respectable sales considering 2021’s record totals.

Russia, the metaverse, the GIA and lab-grown diamonds were some of the topics that drew listeners last year.

The international B2B sourcing event will return from February 12 to 14, 2023, at DWTC, with more exhibitors and the JWA Dubai Awards Presentation Ceremony.