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RAPAPORT ® TRADEWIRE ®
July 13, 2023
Rapaport Market Comment - July 13, 2023

Sentiment weak amid retail slowdown. Traders and manufacturers losing money on inventory. Indian factories maintaining low production. Dealers see opportunity for cheap deals but nervous about buying in downward market. De Beers lowers prices of 0.75 ct. and larger, lower-quality rough by 5%-15% at July sight. Industry fears ripple effect on polished prices. High end supporting demand for exceptional stones and beautiful fancy shapes. US inflation slows to 3% in June. Chow Tai Fook 1Q sales +29% as Chinese tourists return to Hong Kong. Lucapa names Nick Selby interim CEO.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct -0.24% -0.51% -1.22%
0.50 ct -0.95% -3.84% -23.28%
1.00 ct -0.46% -1.92% -24.10%
3.00 ct -0.56% -1.82% -16.25%
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Market Reports
United States: Rounds especially slow; fancies better…
United States: Rounds especially slow; fancies better…
Belgium: Almost no movement in 1 to 2 ct. items…
Belgium: Almost no movement in 1 to 2 ct. items…
Israel: Sellers reducing credit to customers abroad…
Israel: Sellers reducing credit to customers abroad…
India: Manufacturers keeping production at reduced levels…
India: Manufacturers keeping production at reduced levels…
Hong Kong: Chinese retailers starting to buy from overseas market…
Hong Kong: Chinese retailers starting to buy from overseas market…
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By Avi Krawitz

Newly published Kimberley Process numbers give fresh insights into current market developments.

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Meet Elliot Carlyle, the Man Helping Open Doors for Jewelers of Color
By Rachael Taylor

The director of cultural diversity and inclusion for the Here We Are initiative is on a mission to give underrepresented creators the resources they need to succeed.

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Cuts of up to 15% reflect weak US demand for larger, lower-quality diamonds.
De Beers Reduces Prices at Second Consecutive Sight
Cuts of up to 15% reflect weak US demand for larger, lower-quality diamonds.
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South Africa-mined stone brings in over $8 million at Pioneer.
30ct. Pink Diamond Garners Record Sum for Tender House
South Africa-mined stone brings in over $8 million at Pioneer.
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Consumers spent $6.4 billion on July 11, making it 2023’s biggest e-commerce day so far, says Adobe.
Prime Day’s Online Sales Reach New Record
Consumers spent $6.4 billion on July 11, making it 2023’s biggest e-commerce day so far, says Adobe.
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Municipality’s same-store sales up 64% year on year in first fiscal quarter.
Hong Kong Reopening Sets Chow Tai Fook Revenue Soaring
Municipality’s same-store sales up 64% year on year in first fiscal quarter.
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Company aims to add 18 new Tanishq jewelry stores, with main focus on Gulf area and US.
India’s Titan to Broaden International Presence
Company aims to add 18 new Tanishq jewelry stores, with main focus on Gulf area and US.
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Nick Selby will take over as miner’s interim CEO when Stephen Wetherall departs.
Lucapa Chief to Exit After Nearly a Decade
Nick Selby will take over as miner’s interim CEO when Stephen Wetherall departs.
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Winner will create bespoke yellow-diamond engagement ring for selected couple.
Black in Jewelry Coalition to Award $5,000 in Design Contest
Winner will create bespoke yellow-diamond engagement ring for selected couple.
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Sale totals $11.1 million, with turban ornament as highest seller.
Top Five Jewels Fail to Find Buyers at Sotheby’s Hong Kong
Sale totals $11.1 million, with turban ornament as highest seller.
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Company’s acquisition of Blue Nile helped propel it up 10 spots to number 56.
Signet Makes Big Jump in List of Top 100 Retailers
Company’s acquisition of Blue Nile helped propel it up 10 spots to number 56.
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Jewelry supplier names vice presidents for digital, marketing, technology and manufacturing.
Stuller Promotes Four to Executive Team
Jewelry supplier names vice presidents for digital, marketing, technology and manufacturing.
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Stores in Virginia, Illinois, Florida and California are part of company’s omni-channel strategy, it says.
Brilliant Earth Expanding with Four New Showrooms
Stores in Virginia, Illinois, Florida and California are part of company’s omni-channel strategy, it says.
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Elda Fistani was previously an executive at WD Lab Grown Diamonds.
Jeweler Gabriel & Co. Appoints Retail Vice President
Elda Fistani was previously an executive at WD Lab Grown Diamonds.
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