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RAPAPORT ® TRADEWIRE ®
March 2, 2023
Rapaport Market Comment - March 2, 2023

Hong Kong shows open to busy traffic as Chinese buyers attend first major trade events since Covid-19 restrictions. Steady demand for small polished; 0.30 ct. RAPI +3.5% in Feb., 1 ct. -0.1%. Some manufacturers offering higher discounts to offload old inventory, planning to ramp up production in anticipation of 2H market improvement. Rough prices rising at tenders. Sarine 2022 sales -5% to $59M, profit -47% to $9M. Rio Tinto approves $40M Diavik mine extension to 2026. Russian diamonds facing further scrutiny as G7 explores sanctions. US considering traceability regulations to prevent imports of “substantially transformed” Russian diamonds polished in other centers.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct 0.53% 3.52% -7.84%
0.50 ct -0.23% 0.12% -19.30%
1.00 ct 0.07% -0.05% -21.92%
3.00 ct -0.34% -0.83% -15.15%
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Market Reports
United States: Some larger dealers see buying opportunities as suppliers offer deeper discounts for bulk orders…
United States: Some larger dealers see buying opportunities as suppliers offer deeper discounts for bulk orders…
Belgium: Inventory levels high, but some scarcities in popular items…
Belgium: Inventory levels high, but some scarcities in popular items…
Israel: Goods below 0.50 ct. steady; 0.70 ct. and larger weak…
Israel: Goods below 0.50 ct. steady; 0.70 ct. and larger weak…
India: Surat polished production below capacity as rough prices remain high and profit margins thin…
India: Surat polished production below capacity as rough prices remain high and profit margins thin…
Hong Kong: Robust traffic at jewelry fairs. Border reopening has enabled mainland companies to attend…
Hong Kong: Robust traffic at jewelry fairs. Border reopening has enabled mainland companies to attend…
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Government will likely address loophole that enables Russian stones to enter US, group says.
Keep Alrosa Diamonds Separate, JVC Warns
Government will likely address loophole that enables Russian stones to enter US, group says.
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Rough and polished stones escape latest round of Western sanctions.
G7 to ‘Work on Further Measures’ Against Russian Diamonds
Rough and polished stones escape latest round of Western sanctions.
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Easing of Covid-19 restrictions supported demand in January.
Hong Kong Sees Highest Luxury Sales in Three Years
Easing of Covid-19 restrictions supported demand in January.
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Extra year could add 2.2 million carats of rough production.
Rio Tinto Spends $40M to Keep Diavik Going
Extra year could add 2.2 million carats of rough production.
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Share prices stable amid takeover rumors.
LVMH Wants to Buy Richemont: Report
Share prices stable amid takeover rumors.
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Sales of cutting equipment fell in 2022.
India Manufacturing Slump Hits Sarine Results
Sales of cutting equipment fell in 2022.
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Collaboration targets diverse community of aspiring jewelry artisans.
LVMH and Tiffany Team Up for Inclusive Training Program
Collaboration targets diverse community of aspiring jewelry artisans.
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Sales increased 11% in latest fiscal half as jeweler cut back on discounting.
Brand Strategy Boosts Michael Hill’s Revenue
Sales increased 11% in latest fiscal half as jeweler cut back on discounting.
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Robust market for smaller diamonds boosted figures in second fiscal quarter.
Firestone Still Struggling Despite Strong Sales
Robust market for smaller diamonds boosted figures in second fiscal quarter.
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Buyers attended from 95 countries and regions, organizers say.
Dubai Jewelry Show Sees 20% Increase in Visitors
Buyers attended from 95 countries and regions, organizers say.
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Paris-based executive spent 17 years at L’Oréal.
Christie’s Names Emmanuel Danan to Head Luxury Segment
Paris-based executive spent 17 years at L’Oréal.
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Appointment comes amid “transformation” process at Hong Kong-based jeweler.
Annie Wong Becomes Chow Tai Fook’s First COO
Appointment comes amid “transformation” process at Hong Kong-based jeweler.
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Sale brings in a total of $2.3 million.
6ct. Diamond Ring Fetches $240,000 at Bonhams California
Sale brings in a total of $2.3 million.
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Company requests suspension of shares amid financial uncertainty.
BlueRock’s Mining Unit Enters Business Rescue
Company requests suspension of shares amid financial uncertainty.
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