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RAPAPORT ® TRADEWIRE ®
September 5, 2024
Rapaport Market Comment - September 5, 2024

Martin Rapaport to present webinar “What Will Happen to Natural Diamond Prices” on Sep. 18. at 10 a.m. EDT. Register here. Manufacturers reducing production and inventories, which will help stabilize market prices as US holiday season develops. India must maintain reduced supply to prevent price deterioration as synthetics replace US natural-diamond demand. US retail mixed, with stores and dealers buying selectively. Indian domestic market stable, with Diwali and wedding season looking positive. Low expectations for Sep. HK show amid weak China demand. Chow Sang Sang reports 1H sales -13% YOY to $1.5B, profit -37% to $67M, and launches HK pop-up store for synthetics brand.

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The RapNet Diamond Index (RAPI™) is being revised due to elimination of diamond listings from China. These diamonds have been listed at low prices, with sellers demanding extra fees related to currency conversion. This week’s technical increase in RAPI indices does not reflect any sudden change in market conditions or prices.
RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct -2.82% -4.04% -28.18%
0.50 ct -2.41% -1.33% -15.89%
1.00 ct -1.98% -1.51% -23.94%
3.00 ct -1.12% -1.18% -17.68%
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Market Reports
United States: Trade cautious about taking on inventory, leading to selective buying by retailers and dealers…
United States: Trade cautious about taking on inventory, leading to selective buying by retailers and dealers…
Belgium: Industry hopes holiday season will kickstart demand…
Belgium: Industry hopes holiday season will kickstart demand…
Israel: Low market confidence…
Israel: Low market confidence…
India: Domestic business steady, with good expectations for festive and wedding seasons…
India: Domestic business steady, with good expectations for festive and wedding seasons…
Hong Kong: September Jewellery & Gem World show expected to be slow, as Chinese retailers have limited desire to buy…
Hong Kong: September Jewellery & Gem World show expected to be slow, as Chinese retailers have limited desire to buy…
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Is Diamond Production on the Decline?
By Avi Krawitz

The drop in diamond recoveries is a response to market conditions, but also a reflection of diminishing prospects for viable new mines.

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Podcast: The Giant Diamond

Lucara CEO William Lamb reacts to the company’s biggest discovery yet.

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Fraud and Forgery in the Spotlight at Latest GemTalks Session

GIA-sponsored LinkedIn Live event will tackle fake inscriptions.

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Industry leaders address diamond pricing and demand.
India’s GJEPC Trade Letter for the Diamond Industry
Industry leaders address diamond pricing and demand.
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Prices under pressure due to oversupply.
Diamond Market Sees Slow August
Prices under pressure due to oversupply.
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Geotechnical challenges at mine resulted in lower production volumes.
Rio Tinto Postpones Rough Tender Amid Diavik Slowdown
Geotechnical challenges at mine resulted in lower production volumes.
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Move preempts increase in Botswana trading firm’s access to Debswana production.
Okavango Seeks $300M Credit to Expand Diamond Purchases
Move preempts increase in Botswana trading firm’s access to Debswana production.
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Retailer launches pop-up in Hong Kong and will offer lab-grown diamond and sapphire jewelry.
Chow Sang Sang Opens First Synthetics Location, Expands Line
Retailer launches pop-up in Hong Kong and will offer lab-grown diamond and sapphire jewelry.
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Increase in outbound tourism leads to buying abroad.
Hong Kong Luxury Sales Decline as Consumer Spending Shifts
Increase in outbound tourism leads to buying abroad.
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Miner recovered eight rough specimens over 100 carats in first half, compared to two during the same period a year ago.
Gem Diamonds Lifts Full-Year Guidance Amid Increase in Large Stones
Miner recovered eight rough specimens over 100 carats in first half, compared to two during the same period a year ago.
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Group sales up 3.2% in first eight weeks of fiscal 2025.
Bevilles Buoys Michael Hill Revenue in Challenging Market
Group sales up 3.2% in first eight weeks of fiscal 2025.
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D-color stones have high estimate of $5.2 million.
Sotheby’s to Offer Two 18ct. Flawless Diamonds
D-color stones have high estimate of $5.2 million.
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Pair of ear clips set to fetch up to $1.6 million.
Rubies and Colored Diamonds Dominate Phillips Sale
Pair of ear clips set to fetch up to $1.6 million.
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Members of the editorial team pick their favorite pieces from the internet.
Comparing Diamonds to Pepsi, and This Week’s Other News
Members of the editorial team pick their favorite pieces from the internet.
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