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RAPAPORT ® TRADEWIRE ®
June 22, 2023
Rapaport Market Comment - June 22, 2023

US and Chinese demand for polished above 0.30 ct. weak and causing slowdown in 0.75 ct. and larger rough. Indian manufacturers focusing on small, low-value and synthetic goods to keep factories running. Inexpensive natural melee diamonds doing better than expected as Rapaport June melee auction sells $6.2M (93% of lots). India Prime Minister Modi gives 7.5 ct. synthetic diamond to Jill Biden. De Beers offers 1 to 2 ct. synthetic diamond engagement rings at $800-$1,500/ct., raising concerns in industry. De Beers June sales -32% to $450M following price drop in larger sizes. US Census Bureau reports May retail sales +0.3%. Low expectations for HK show. India May polished exports -18% to $1.7B, rough imports -19% to $1.2B.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct 0.53% -1.33% -2.72%
0.50 ct -0.86% -3.72% -22.80%
1.00 ct -0.40% -2.13% -24.13%
3.00 ct -0.64% -0.90% -16.02%
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Market Reports
United States: Economic data fueling hopes of improvement: Consumer sentiment up 8% in June after inflation eased and lawmakers reached debt-ceiling deal, University of Michigan reports…
United States: Economic data fueling hopes of improvement: Consumer sentiment up 8% in June after inflation eased and lawmakers reached debt-ceiling deal, University of Michigan reports…
Belgium: High-end demand supporting sector; sales to US mid-market have slumped…
Belgium: High-end demand supporting sector; sales to US mid-market have slumped…
Israel: Sales of 1 ct. diamonds down due to sluggish US bridal segment…
Israel: Sales of 1 ct. diamonds down due to sluggish US bridal segment…
India: Overall production capacity at about 50%; profit margins are thin…
India: Overall production capacity at about 50%; profit margins are thin…
Hong Kong: Steady appetite for 1 ct., D-H, VS (3X, none) diamonds in local market…
Hong Kong: Steady appetite for 1 ct., D-H, VS (3X, none) diamonds in local market…
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The Industry’s Diamond-Origin Conundrum
By Avi Krawitz

A heated debate is brewing about the best approach to source-verification.

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Podcast: Avi Krawitz’s Farewell

Plus: A report from the JCK Las Vegas show.

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De Beers Mulls Its Partners’ Changing Expectations
By Avi Krawitz

New CEO Al Cook assesses the challenges ahead.

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Website features items priced at up to $5,000.
Lightbox Starts Selling Engagement Rings with Lab-Grown Diamonds
Website features items priced at up to $5,000.
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Needing to keep workers busy, Indian manufacturers are supporting the market for lower-value goods during the downturn.
Small Rough Gaining as Cutters Look to Fill Factories
Needing to keep workers busy, Indian manufacturers are supporting the market for lower-value goods during the downturn.
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Presentation of 7.5-carat, green stone earns praise from GJEPC.
India’s Prime Minister Gifts Lab-Grown Diamond to US First Lady
Presentation of 7.5-carat, green stone earns praise from GJEPC.
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Proceeds fell 32% year on year at June cycle.
De Beers Sales Slide as Slow Trading Continues
Proceeds fell 32% year on year at June cycle.
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May revenue up 0.3% from April, according to Census Bureau.
Strong Job Market Buoys US Retail Sales
May revenue up 0.3% from April, according to Census Bureau.
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Richemont’s new Enquirus database program aims to help combat jewelry and timepiece theft.
One Luxury Group’s Big Plan to Take a Bite Out of Crime
Richemont’s new Enquirus database program aims to help combat jewelry and timepiece theft.
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Bridal wave: Today’s couples are going for unconventional shapes, multi-stone styles, and eye-catching hues.
Fancies, Big Bands, and Color: The Latest Engagement Ring Trends
Bridal wave: Today’s couples are going for unconventional shapes, multi-stone styles, and eye-catching hues.
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Rock-solid strategy: Experts discuss how jewelers should be targeting customers and where advertising is headed.
Advice from the Pros: What You Need to Know About Jewelry Marketing
Rock-solid strategy: Experts discuss how jewelers should be targeting customers and where advertising is headed.
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With misinformation rife, it’s no wonder customers are confused when it comes to choosing between a mined or synthetic stone.
On the Shop Floor: How to Debate Lab-Grown vs. Natural Diamonds
With misinformation rife, it’s no wonder customers are confused when it comes to choosing between a mined or synthetic stone.
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Total shipments up 14% in May.
Rebounds in US and China Lift Swiss Watch Exports
Total shipments up 14% in May.
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Polishing up the past: When does it make sense to recut antique diamonds?
The Art of Giving New Life to Old Stones
Polishing up the past: When does it make sense to recut antique diamonds?
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Revenue up 20% from last sale in December 2022.
Strong Gemfields Auction Signals Rebound in Ruby Market
Revenue up 20% from last sale in December 2022.
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