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May 19, 2022
Rapaport Weekly Market Comment - May 19, 2022

News: Dealers unsure where market is headed and hope upcoming Las Vegas shows will provide clarity. Trade starting to feel impact of Russia crisis amid lower supply and cautious demand. Chinese slowdown fueling uncertainty. Manufacturing down due to Surat summer vacation and withdrawal of Alrosa rough. De Beers positioned to gain from Russian sanctions as May sales +57% to $604M. Shortages expected to support prices in 2H. Brilliant Earth forecasts slower growth due to volatile geopolitical situation and inflationary pressures; 1Q sales +42% to $100M, profit +40% to $3.4M. US 1Q net polished imports +43% to $1.6B. India’s GJEPC presents plan to expand local lab-grown sector.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct 0.3% 0.0% 0.2%
0.50 ct 0.0% -0.6% 8.8%
1.00 ct -0.3% -1.5% 22.3%
3.00 ct -0.3% -1.7% 26.6%
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Market Reports
United States: Rising expectations for Las Vegas shows as dealers seek guidance on market direction…
United States: Rising expectations for Las Vegas shows as dealers seek guidance on market direction…
Belgium: Buyers looking for goods despite high prices, currency volatility, and US inflation concerns…
Belgium: Buyers looking for goods despite high prices, currency volatility, and US inflation concerns…
Israel: Shortage of select categories that are popular in US, namely oversizes, ovals and marquises…
Israel: Shortage of select categories that are popular in US, namely oversizes, ovals and marquises…
India: Activity down as manufacturers shut for summer break and Russian supply starts to dry up…
India: Activity down as manufacturers shut for summer break and Russian supply starts to dry up…
Hong Kong: Government retail vouchers stimulating sales of low-end jewelry…
Hong Kong: Government retail vouchers stimulating sales of low-end jewelry…
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Podcast: The Forgotten Art of Detection

Undisclosed synthetics may not be making headlines lately, but they still pose a serious threat to the diamond market. Host Avi Krawitz discusses developments in the lab-grown market and detection technology with De Beers product manager Trevor Poulter.

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Webinar: Automated Grading and the AI Revolution

Traditional diamond grading can be inconsistent and inefficient, but is automation a viable alternative? Experts share their views in the latest “Fast-Tracking the Future” webinar installment.

Check It Out
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Trade Shows: More ‘Hi’ Than Buy?
By Joyce Kauf

JCK Las Vegas is an opportunity to meet and greet, but the jury is still out on how much attendees will purchase.

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Top Stories of the Week
After a long period of virtual and scaled-down events, store owners are ready to place orders, catch the latest styles, and make new connections.
US Jewelers Hail In-Person Fairs
After a long period of virtual and scaled-down events, store owners are ready to place orders, catch the latest styles, and make new connections.
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Proceeds from May cycle higher than usual for the time of year.
De Beers Sales Jump as Demand Holds Up
Proceeds from May cycle higher than usual for the time of year.
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Spending up 0.9% from March, according to NRF.
Holidays Buoy US Retail Sales in April
Spending up 0.9% from March, according to NRF.
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Interview with Sarine Technologies CEO David Block.
Demand for Diamond Traceability Spikes
Interview with Sarine Technologies CEO David Block.
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Gem and jewelry group proposes park that would manufacture 150 million carats of synthetics per year.
India in Push to Capture Lab-Grown Market
Gem and jewelry group proposes park that would manufacture 150 million carats of synthetics per year.
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Necklace carries high estimate of $6 million at New York Magnificent Jewels sale.
Christie’s to Offer 76ct. Heart-Shaped Diamond
Necklace carries high estimate of $6 million at New York Magnificent Jewels sale.
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Retailer cites impact of Ukraine conflict and inflation.
Brilliant Earth Trims Sales Outlook
Retailer cites impact of Ukraine conflict and inflation.
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Russia crisis and Indian summer vacation already having an effect.
Manufacturing Slowdown Is Likely, Sarine Says
Russia crisis and Indian summer vacation already having an effect.
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Indian retailer will open 600 stores across 300 cities over next three years.
Titan to More Than Double Jewelry Business by 2027
Indian retailer will open 600 stores across 300 cities over next three years.
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187 stores closed doors in the first quarter, JBT says.
Number of US Jewelry Businesses Declines
187 stores closed doors in the first quarter, JBT says.
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