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

Rapaport calls for help and support for US Diamond Protocol as World Diamond Council (WDC) and De Beers lobbyists push for sanctions plan that will destroy small US jewelers and dealers. Visit rapaport.com/sanctions for facts and support. Martin Rapaport will fast for three days next week — Tues.-Thurs., Nov. 7-9 — to protest WDC’s support for Kimberley Process that certifies Russian diamonds. Trade is urged to fast for one day, Tuesday, Nov. 7, as WDC and KP meet in Zimbabwe. Prices of rounds stabilizing; 1 ct. RAPI +0.3% this week but -2.2% for Oct. Fancies still falling. Surat factories to close for three weeks over Nov. 12 Diwali holiday. NY DDC to hold Israel trade week Nov. 27-30.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct 0.01% -1.68% -4.93%
0.50 ct 0.83% -1.17% -29.97%
1.00 ct 0.32% -1.91% -24.84%
3.00 ct 0.43% -0.44% -13.99%
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Market Reports
United States: Steady demand for 3 ct. and larger, D-K, VS2-SI1, 3X diamonds without milkiness or black center…
United States: Steady demand for 3 ct. and larger, D-K, VS2-SI1, 3X diamonds without milkiness or black center…
Belgium: Some movement in 2 ct. rounds, but sales still few and far between…
Belgium: Some movement in 2 ct. rounds, but sales still few and far between…
Israel: Shipments limited due to reduction in flights…
Israel: Shipments limited due to reduction in flights…
India: Import moratorium and pre-holiday demand offering some relief to industry…
India: Import moratorium and pre-holiday demand offering some relief to industry…
Hong Kong: Industry focusing on 11/11 shopping festival…
Hong Kong: Industry focusing on 11/11 shopping festival…
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Podcast: Why the Chinese Market Is Slow

Lab-grown diamonds are making inroads, says dealer and consultant Chen Shen.

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The Ins and Outs of Diamond Screening

Technology for detecting synthetics is constantly improving. In this LinkedIn Live, Rapaport News Editor Joshua Freedman will discuss the latest trends with De Beers Group Ignite’s Danie Kruger and Samantha Sibley.

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Eco-Friendly Is the Mother of Invention for Diamond and Jewelry Companies
By Kate Matthams

Climate of innovation: Miners, manufacturers and brands are taking creative steps to help save the planet.

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G7 nations have politicized the organization, open letter claims ahead of plenary meeting.
Russia Attacks West for ‘Distorting’ Kimberley Process
G7 nations have politicized the organization, open letter claims ahead of plenary meeting.
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Bloc working on 12th package of punitive measures since Ukraine war began.
EU Confirms It Plans to Sanction Russian Diamonds
Bloc working on 12th package of punitive measures since Ukraine war began.
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Company seeking creditor protection as weak market impacts business.
Stornoway Halts Operations at Renard Diamond Mine
Company seeking creditor protection as weak market impacts business.
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The latest roundup includes a call for solidarity with Israel, and jewelers’ unusual confessions.
The Weekly Gems: News and Videos from Around the Web
The latest roundup includes a call for solidarity with Israel, and jewelers’ unusual confessions.
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Revenue for jewelry up 27% year on year in September.
Hong Kong Luxury Sales Benefit from Rebound in Tourism
Revenue for jewelry up 27% year on year in September.
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Miner defers expansion projects at Cullinan and Finsch.
Petra Postpones Spending Amid Market Slowdown
Miner defers expansion projects at Cullinan and Finsch.
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Revenue down 45% year on year in third quarter.
Gem Diamonds Sales Slip in Weak Market
Revenue down 45% year on year in third quarter.
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Diamond is third-largest recovered from Angola site.
Lucapa Digs Up 208ct. Rough from Lulo
Diamond is third-largest recovered from Angola site.
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Stone is fourth over 100 carats from Lesotho mine this year.
Letšeng Yields 117ct. Rough for Gem Diamonds
Stone is fourth over 100 carats from Lesotho mine this year.
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Jeweler turned 71.26-carat stone into 15- and 20-carat diamonds.
Tiffany Unveils Polished from Canada’s Largest Yellow Rough
Jeweler turned 71.26-carat stone into 15- and 20-carat diamonds.
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WD Advanced Materials will create synthetics for technical applications.
WD Lab Grown Diamonds Changes Name and Focus
WD Advanced Materials will create synthetics for technical applications.
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Event will allow US diamond dealers to show support while promoting business.
IDE and DDC to Host ‘Stand with Israel’ Sale in New York
Event will allow US diamond dealers to show support while promoting business.
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