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Rapaport TradeWire July 28, 2022
Jul 28, 2022 11:26 AM
By Rapaport
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| | Rapaport Weekly Market Comment - July 28, 2022
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News: Trading centers quiet with Belgium shutting for August summer break. Polished prices declining as demand drops and inventory rises. US dealers resilient despite economic caution. Consumer confidence down in July amid inflation concerns and higher interest rates, Conference Board says. Fed raises rates 0.75%. Rough premiums cool after strong 1H. Cutters maintain low polished production. De Beers 1H revenue +24% to $3.6B, earnings +84% to $491M, July sight valued at $630M. Rio Tinto 1H diamond revenue +191% to $465M, earnings up 18-fold to $91M. Tiffany & Co. boosts LVMH 1H jewelry and watch revenue +22% to $5B, profit +26% to $1B. GIA launches source verification service.
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| | RAPNET DIAMOND INDEX (RAPI™)
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| Size |
Weekly |
Monthly |
Y2Y |
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0.30 ct
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-0.4%
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-2.9%
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-4.5%
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0.50 ct
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-0.7%
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-3.2%
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0.4%
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1.00 ct
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-0.8%
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-2.8%
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10.7%
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3.00 ct
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-0.4%
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-2.1%
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20.1%
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Market Reports
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United States: Contract manufacturers busy filling orders from top brands…
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Belgium: Diamantaires optimistic for holiday season but expect slow third quarter…
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Israel: Polished inventory rising but dealers struggling to find right certified goods to fill buyer requirements…
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India: Suppliers to local market hoping for strong IIJS show next week (August 4 to 8)…
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Hong Kong: Spending sluggish in mainland China amid economic slowdown…
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| | Podcast: How Tracr Is Empowering De Beers’ Supply Chain
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Rapaport’s Avi Krawitz chats with Wesley Tucker, the miner’s head of digital transformation and Tracr, about the industry’s drive to develop diamond-tracking programs.
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| | How a UK Jeweler Sources Ethical Gold
| | By Rachael Taylor |
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Boodles gets its entire supply of the yellow metal from a single responsible-mining project in Mali.
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| | Carving Out the Future of Laser Engraving
| | By Sarah Jordan |
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Etching markings into diamonds is a time-tested method for identifying stones, and innovators are working to make the process cleaner, safer and more secure.
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Top Stories of the Week
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GIA Launches Diamond Origin Service
Institute began accepting polished stones from vetted manufacturers in early July.
SEE MORE
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De Beers Cautious Following Sales Jump
Revenue and profit rose sharply in first half.
SEE MORE
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Lucapa Unearths 170ct. Pink from Lulo
Diamond is believed to be largest of its color in 300 years, miner says.
SEE MORE
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Sotheby’s May Be Liable for $4M in Missing Diamonds
M&L Financial claims auction house turned over 45 yellow diamonds to an entity that was not the owner.
SEE MORE
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De Beers Sales Momentum Continues
Miner brings in $630 million at July cycle.
SEE MORE
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Jewelry Performs Well for Kering in First Half
Boucheron and Pomellato brands were “very solid,” but China health situation affected Qeelin.
SEE MORE
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Tiffany Drives Strong Jewelry Sales at LVMH
Category up 22% in first six months.
SEE MORE
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US Jewelry Industry Shrinks as Closure Rate Grows
Some 161 businesses shut in the second quarter, compared to 143 a year earlier, Jewelers Board of Trade reports.
SEE MORE
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Pandora Aims to Advance US Growth with NY Hub
Manhattan office will employ approximately 150 workers.
SEE MORE
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Finestar Inaugurates Namibia Factory
Mining minister pushes sightholders to polish more goods inside the country.
SEE MORE
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GIA Brings On First Sustainability Head
Johanna Levy will spearhead institute’s ESG programs to advance consumer-protection mission.
SEE MORE
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De Beers Hires Exec to Promote Code of Origin
Ivette Nersesyan-Stephanopoulos will be in charge of the trust-mark program and trade services.
SEE MORE
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CONTACT US
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© Copyright 2022 by Rapaport USA Inc. All Rights Reserved.
Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are
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