GEMSTONE INFORMATION

The domestic diamond market in India has shown strong performance, but international sales are weak. De Beers Company has terminated the contract with the freight forwarder, but has not cancelled its qualification as a freight forwarder. De Beers' trade volume at the trade fair in September was $200 million, a decrease of 61% year-on-year; The sales revenue from the beginning of the year to the present is 3.4 billion US dollars, a year-on-year decrease of 31%. Rapport predicts that De Beers' total sales in 2023 will be $3.8 billion, a decrease of 34% compared to 2022. De Beers Botswana transaction has been in progress, and the "main terms" document has been signed. Rapport warns the industry not to approve the WDC G7 agreement as it will eliminate small and medium-sized enterprises and reduce free market competition. The market is weak, and Okavango has cancelled the November spot auction. HB reinstated Oded Mansori, apparently to save the Botswana deal. The industry mourns for former JCK editor Hedda Schupak. The weekly comments will be restored after the end of Jewish holiday.

Abnormality drill: Abnormality market slows down. The price has dropped, but not as much as the decline in round diamonds. The price of longer oval, pear shaped, radial, and pad shaped diamonds is higher than that of shorter diamonds. Diamonds with medium to short ratios perform weakly. In the context of sluggish demand and high inventory, the price of square cushion diamonds has declined. The price of olive shaped diamonds has remained stable due to a decrease in supply. A 0.30 carat diamond performs well. Diamond orders ranging from 0.70 to 1.20 carats are relatively low. VS-SI grade diamonds have lost market power, except for diamonds ranging from 1.20 to 1.49 carats. Well cut diamonds are in short supply. The premium for diamonds with excellent cutting is high. Retailers offer a wider range of products as consumers seek alternative cutting methods. The trading price of super large carat diamonds is higher than the usual level. Irregular diamonds that deviate from specifications and are poorly cut are difficult to circulate and sell.