RapNet Diamond Index (RAPI\u2122)<\/strong><\/td><\/tr>| <\/td> | June<\/strong><\/td> | 1H 2022<\/strong><\/td> | Year on year | <\/strong>July 1, 2021, to July 1 2022<\/td><\/tr> RAPI 0.30 ct.<\/td> | -1.0%<\/td> | 0.2%<\/td> | -1.6%<\/td><\/tr> | RAPI 0.50 ct.<\/td> | -1.6%<\/td> | 4.1%<\/td> | 5.0%<\/td><\/tr> | RAPI 1 ct.<\/strong><\/td> | -1.8%<\/strong><\/td> | 7.4%<\/strong><\/td> | 16.8%<\/strong><\/td><\/tr> | RAPI 3 ct.<\/td> | -0.8%<\/td> | 9.7%<\/td> | 22.2%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n | \n \u00a9 Copyright 2022 by Rapaport USA Inc.<\/em><\/p>\n<\/div><\/div>\n\n\n\n <\/p>\n\n\n\n Rapaport said trading in Las Vegas reflected jewellers\u2019 strong liquidity after a profitable 2021. Activity slowed once the fairs ended and dealers headed for vacations at the beginning of July.<\/p>\n\n\n\n There were also renewed fears of a recession; the US economy shrank 1.6% in the first quarter, and the latest data showed inflation at 8.5% in May. Consumer confidence dropped 4.5 points in June to its lowest level since February 2021, according to The Conference Board.<\/p>\n\n\n\n Chinese demand was low as well following Covid-19 lockdowns in April and May. The lack of buyers meant local jewellers had sufficient inventory for the short term.<\/p>\n\n\n\n Polished inventory in the midstream grew in June, Rapaport noted. The number of diamonds listed on RapNet rose 4.3% during the month to 1.87 million as of 1st<\/sup> July. The high volume came despite the Russian sanctions that limited Alrosa\u2019s rough sales and took an estimated 30% of global production off the market. Russian rough shortages are expected to impact polished supply in the coming months; manufacturers have so far been working with goods from before Russia\u2019s invasion of Ukraine.<\/p>\n\n\n\n Other miners are capitalising on the new rough-market dynamic. De Beers\u2019 June sales rose 36% year on year to $650 million after a price hike of 8-10% on smaller rough \u2014 a category Alrosa usually dominates.<\/p>\n\n\n\n We predict that traceable, ethical diamonds will sell at a premium to Russian diamonds as Alrosa goods re-enter the market. While US jewellers are upbeat after the shows, there are political and economic headwinds that will likely disrupt the industry in the second half.<\/p>\n","protected":false},"excerpt":{"rendered":" Diamond market sentiment received a boost from the Las Vegas shows, which demonstrated robust US demand, Rapaport Group said in a release. However, polished prices declined amid a weak global economic outlook and a rise in inventory levels, it noted. The RapNet Diamond Index (RAPI\u2122) for 1-carat diamonds slid 1.8% in June but increased 7.4%…<\/p>\n","protected":false},"author":1,"featured_media":16110,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-16108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n |
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