Certified polished diamond prices were stable in November supported by improving demand during the Christmas shopping season. Diamond dealers were focused on supplying U.S. jewelers with strong demand for lower priced commercial quality diamonds as consumers tighten their holiday shopping budgets.
The RapNet Diamond Index (RAPI™) for 1-carat certified diamonds was down 0.1 percent in November. RAPI for 0.30-carat diamonds rose 1.4 percent during the month, while RAPI for 0.50-carat diamonds increased 0.2 percent. RAPI for 3-carat diamonds declined 0.3 percent.
RapLab, a Rapaport Group company, is now offering synthetic diamond detection services to the diamond trade. The service will utilize DiamondSure® and DiamondView® technology developed by De Beers. RapLab will begin providing services in Ramat Gan, Israel and Mumbai, India on December 2. Additional service centers in New York and Surat will be available in the near future.
RapLab will provide testing for individual diamonds as well as implement statistical sampling protocols for parcels of diamonds.
Certified polished diamond prices fell in October as trading volume did not meet expectations for this time of the year. The U.S. continues to be the dominant market for polished ahead of the Christmas season. India’s pre-Diwali demand was weak and Chinese demand soft after the National Day Golden Week (October 1). Trading is selective with steady demand for 0.30-carat to 0.50-carat goods in commercial qualities (H-K, SI-I1).
The RapNet Diamond Index (RAPI™) for 1-carat certified diamonds fell 1.7 percent in October. RAPI for 0.30-carat diamonds rose 0.4 percent during the month, while RAPI for 0.50-carat diamonds increased 0.2 percent. RAPI for 3-carat diamonds declined 0.7 percent.
Certified diamond prices were stable in September with significantly reduced trading volume. Price sensitive Far East buyers are increasingly shifting to commercial qualities, while tight liquidity and weak domestic demand in India have reduced diamond trading and lowered expectations for the important Diwali holiday season. High rough diamond prices have disrupted manufacturing activity as polished suppliers focus on depleting existing high inventory.
The RapNet Diamond Index (RAPI) for 1-carat certified diamonds fell 0.3 percent in September. RAPI for 0.30-carat diamonds rose 0.4 percent while RAPI for 0.50-carat and 3-carat diamonds were both flat for the month. RAPI fell by more than 2 percent in the third quarter in all sizes.
Certified polished diamond prices stabilized in August while dealers remained cautious amid low-volume trading. Cutting center liquidity is being squeezed by the devaluation of the Indian rupee, high rough prices and cautious bank lending. Diamond manufacturers are holding on to relatively large inventories ahead of the fourth quarter selling season, while retail jewelers are expected to delay their buying.
The RapNet Diamond Index (RAPI™) for 1-carat certified polished diamonds fell 0.1 percent in August. RAPI for 0.30-carat diamonds rose 1.2 percent during the month, while RAPI for 0.50-carat diamonds increased 0.8 percent. RAPI for 3-carat diamonds fell 0.6 percent.
Certified polished diamond prices fell in July. China’s economic slowdown significantly reduced diamond demand resulting in overstocked retail inventories. India’s jewelry market plummeted due to the weak rupee and government programs intended to curb gold consumption and jewelry demand. Furthermore, diamond manufacturers are facing tight liquidity as banks become increasingly concerned about the high levels of industry debt and high rough diamond prices, which result in negative cash flow. The only bright spot has been the U.S., where demand has been steady but selective.
The Rapaport International Diamond Conference (IDC) will be held at the Taj Lands End Hotel in Mumbai, India on Wednesday, August 14, 2013.
The conference will focus on the future of the diamond and jewelry industry, with emphasis on the role of India. Topics will range from rough to retail as the best and brightest meet to discuss how to thrive in a rapidly changing and challenging global business environment.
Certified polished diamond prices softened in June as cutting centers came under financial pressure. Stable U.S. demand is supporting the market but Indian currency and liquidity difficulties and weak Chinese and Indian demand has reduced trading activity.
The sharp depreciation of the rupee to record lows beyond 60/$1 has diminished India’s appetite for diamonds.
Martin Rapaport speaking to hundreds of jewelers, dealers and manufacturers at the Rapaport Breakfast at the JCK Las Vegas Jewelry Show warned the diamond trade not to buy overpriced rough diamonds. He blamed Indian government credit policy and irresponsible banks for overextending credit to the diamond trade resulting in inflated rough prices.
Rapaport also identified significant opportunities for the diamond trade including sales to millennials, purchases from the public and the development of investment diamond markets.
Certified polished diamond prices were stable in April as trading slowed during the Passover and Easter holidays. The Basel show and New York auctions demonstrated strong demand for select, top-quality diamonds but overall market sentiment remains weak.
High-end large stones above 10 carats, as well as fancy intense pink and blue diamonds, and very finely cut fancy shapes are hot. There is steady Chinese demand for 0.30-0.40 ct., G-H, VS-SI, triple EX diamonds for engagement rings. Chinese demand for commercial quality stones is also improving.
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