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Rapaport TradeWire April 20, 2022

Apr 20, 2022 7:43 AM   By Rapaport
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April 20, 2022
RAPAPORT MARKET COMMENT
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News: Diamond market quiet over Passover and Easter holidays. Steady US demand for 1 to 1.50 ct. sizes supporting the trade, but dealer prices continue to soften. US retail solid; jewelers expecting strong summer wedding season. Dealers cautious due to Russia crisis and China Covid-19 lockdown. Rough trading slow. Uncertainty surrounds upcoming Alrosa sale (April 26 to 29). Long gap until next De Beers sight (May 3 to 6). Manufacturers preparing to separate Alrosa goods from others to serve different markets. GIA to launch consumer service to verify country of origin for natural and lab-grown diamonds. Luk Fook FY4Q same-store sales -8%. Petra Diamonds FY3Q revenue +33% to $141M. India March polished exports +2% to $2.2B, rough imports +46% to $2.1B. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED THIS WEEK DUE TO THE PASSOVER HOLIDAY.

RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct
-0.58%
-6.90%
0.76%
0.50 ct
-0.70%
-5.20%
10.27%
1.00 ct
-1.06%
-5.03%
27.15%
3.00 ct
-0.17%
-3.12%
30.10%
RAPI Graph
THE RAPAPORT DIAMOND PODCAST: EPISODE 62
WITH AVI KRAWITZ AND SPECIAL GUEST ROB BATES

The two veteran industry journalists discuss the diamond trade’s Russia dilemma, among other topics affecting the market.

Cutting Out the Middleman
WITH LARA EWEN

As buyers seek greater personal contact and shop more online, many jewelry brands are bypassing wholesale in favor of selling directly to consumers.

UPS AND DOWNS
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WEEKLY NEWS
industry
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GIA Offers Consumers Diamond Origin Information
Source Verify will disclose country where natural and lab-grown stones were produced.
retail
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US Retail Sales Stay Strong in March
Figure up 7% year on year.
Covid-19 Resurgence Dents Luk Fook Sales
Revenue down 8% in fourth quarter.
mining
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Covid-19 Impacts Rio Tinto Production
Unplanned employee absences and power outages hindered output in first quarter.
Large Stones Bolster Petra Sales
Revenue increased 33% in third fiscal quarter.
general
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Trans Atlantic Sees Slowdown in Rough Sales
Sizes below 0.50 carats saw sharpest price drops.
Jewelers of America Unveils CASE Award Winners
Prizes go to retailers and suppliers who show creativity, artistry, style and excellence in design.
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