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Rapaport TradeWire March 17, 2022
Mar 17, 2022 4:22 AM
By Rapaport
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| March 17, 2022 | | RAPAPORT MARKET COMMENT | | | | US sanctions prohibit imports of Russian rough and polished but allow polished diamonds from Russian-mined rough if they were cut elsewhere. Supply decline unlikely as Alrosa clients find alternative payment methods for next week’s contract sale. JVC warns that US may broaden ban to include transformed polished. EU and UK import sanctions expected. Rapaport issues statement. Retailers considering ethical stand on Russian-sourced diamonds. Market cautious due to Ukraine crisis, US inflation and China Covid-19 spike. Shenzhen lockdown restricting diamond trade. Jewelry sales +22% in Feb., Mastercard SpendingPulse says. India Feb. polished exports +14% to $2B, rough imports +40% to $2.1B. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -1.15% | 2.84% | 6.88% | | 0.50 ct | -0.38% | 4.32% | 14.85% | | 1.00 ct | -0.61% | 5.40% | 35.35% | | 3.00 ct | -0.71% | 3.29% | 36.47% | | | | The RapNet Diamond Index (RAPI™) is the average asking price in hundred $/ct. of the 10 percent best priced diamonds, for each of the top 25 quality round diamonds (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better) offered for sale on RapNet - Rapaport Diamond Trading Network. | | | | Market Reports | | | | | United States: Retailers optimistic despite inflation and drop in consumer sentiment... | | | | | Belgium: Rough market uncertain ahead of Alrosa sale... | | | | | Israel: Suppliers maintaining low inventory and willing to wait before compromising on price... | | | | | India: Steady interest in 0.30 to 1 ct., D-G, VVS1-VS2 dossiers... | | | | | Hong Kong: Dealers focusing on other southeast Asian consumer markets amid sluggishness at home... | | | | | | | Russia Sanctions: Resources for the Trade | | | | WITH RAPAPORT | Ongoing updates and official statements on the Ukraine crisis and how it affects the diamond industry. | | | | | The Diamond Origin Dilemma | | | | WITH AVI KRAWITZ | The recent US sanctions on Russian diamonds have shone a spotlight on the trade’s traceability programs, and have left retailers between a rock and a hard place. | | | | | WEEKLY NEWS | | | | | | Guidance Regarding US Sanctions Against Russia | | Notice to Rapaport members. | | | | | Russian Goods Cut Elsewhere Are Legal: JVC | | US executive order prohibits imports of rough diamonds. | | | | | Russian Invasion’s Impact on Diamond Prices | | Rapaport statement on Ukraine situation. | | | | | EU Bans Exports of Diamonds to Russia | | Purchases from Alrosa still permitted. | | | | | | | | | Strong Economy to Buoy US Retail in 2022: NRF | | Sales will grow up to 8% for the year, according to forecast. | | | | | Jewelry Sales Surge in February | | US revenues up 22% year on year, Mastercard reports. | | | | | US Online Sales Hit $1.7T During Pandemic | | Inflation boosted the dollar total, according to Adobe. | | | | | | | | | Sarine Targets Finance Market with Valuation Service | | Tech company will estimate price of rough based on polished outcome. | | | | | Dubai Partners with Botswana to Promote Diamonds | | DMCC will host Okavango auctions as part of the deal. | | | | | Gem Legacy Launches Adventure Travel Company | | Nonprofit group will offer guided tours of East African safaris and mining sites. | | | | | Sotheby’s Garners $12M at New York Jewelry Sale | | Set of diamond earrings by Boucheron takes top spot, bringing in $1.3 million. | | | | | Diamonds Eclipse Estimates at Christie’s | | Ring with 25.14-carat stone fetches $424,500. | | | | | Platinum Guild Appoints Senior Vice President | | Kevin Reilly’s promotion follows 16-year tenure with the group. | | | | | | Contact Us |  |       | | © Copyright 2022 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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