Rapaport: Certified Polished Diamond Prices Stable in April

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.

Certified Polished Diamond Prices Stable in March, says Rapaport

Certified polished diamond prices held steady in March with 0.30-carat stones continuing to outpace other sizes. Market sentiment improved throughout the first quarter of 2013 driven by seasonal Far East demand during the Chinese New Year period and steady U.S. bridal demand.

The March Hong Kong show exceeded expectations with both Chinese and Indian buyers active in the market. However, demand is limited to a specific range of commercial quality diamonds with 0.30-0.40ct., G-K, VS2-SI2 goods hot and good demand for medium to low qualities up to 2ct. There is strong demand for excellent cut triple EX goods which are in short supply and garnering premiums of up to 8 percent over VG-graded goods. 

Martin Rapaport to address “State of the Diamond Industry” at International Diamond Week in Israel

Martin Rapaport will discuss the challenges and opportunities confronting the global diamond trade in a special presentation at the International Diamond Week in Israel, Monday March 18, 2013 at 4 p.m. in the Israel Diamond Exchange. The presentation will include an analysis of the competitive relationship between Israel and India, as well as the outlook for diamond prices and demand in 2013.

De Beers Published 2012 Financials — Strong Cash Flow, Despite Challenging Trading Conditions

De Beers Group published financials of 2012 fiscal year: 

• Total sales decreased 16 percent to US$6.1 billion (2011: US$7.3 billion). Sales of rough diamonds decreased 15 percent to US$5.5 billion (2011: US$6.5 billion)
• Between 1 January and 31 December rough diamond prices decreased 12 percent, in line with polished diamond prices
• Diamond production totalled 27.9 million carats (2011: 31.3 million carats)
• Continued strong cash flow generation with free cash flow of US$697 million (2011: US$816 million), and net debt reduced to US$722 million (excluding shareholder loans) (2011: USD$1177 million) 

Certified Diamond Prices Decline 12.5% in 2012

Certified polished diamond prices fell in 2012 as global economic weakness slowed growth in China and poor government policy fueled further declines in India. Steady U.S. demand sustained the jewelry industry but consumer sentiment softened in December as pending tax hikes reduced holiday retail spending.

In December, the RapNet Diamond Index (RAPI™) for 1-carat polished diamonds was flat for the month, while other categories rose slightly, representing the first monthly increase since March 2012. 

Rapaport Research: Certified Diamond Prices Decline 0.7% in November

Certified polished diamond prices edged down in November as the holiday season started with mixed prospects for the jewelry sector. Diamond dealers were active but retailers continue to efficiently manage sufficient inventories, with little promise for significant restocking in the New Year.

Superstorm Sandy and the presidential elections impacted U.S. sentiment at the start of the month but spending improved over the Thanksgiving weekend, despite the unresolved fiscal cliff negotiations. There are rising concerns that potential tax increases will reduce luxury spending. Global economic uncertainty continues to impact jewelry sales in China, particularly mid-to-high-end purchases. India’s Diwali festival was satisfactory for jewelers but high rupee-based gold prices have since reduced spending. 

Certified Diamond Prices Decline 1.8% in October Says Rappaport

Certified polished diamond prices continued to decline in October as economic and political uncertainties have diminished holiday expectations.

Trading quieted toward the end of the month as Hurricane Sandy halted business ‎in New York’s diamond market. There is some concern that the storm will impact holiday ‎luxury sales along the East Coast as consumers focus on necessities during the recovery period ‎and put holiday gift buying on hold. 

De Beers appoints Cynthia Carroll as Chairman

The Board of De Beers had recently announced the appointment of Cynthia Carroll, Chief Executive of Anglo American plc, as Chairman. 

Also appointed to the De Beers Board are two members of Anglo American’s Group Management Committee – Brian Beamish, Group Director of Mining & Technology, who has more than 30 years of mining experience across base and precious metals; and Peter Whitcutt, Group Director of Strategy & Business Development, who has more than 20 years of experience with Anglo American in a number of senior finance and strategy roles. 

Rapaport Auctions Reports Record September Sales: 82,260 Carats Sold for $14.3 Million

Rapaport Auctions, the largest auction market for recycled diamonds, reported strong activity for the third quarter of 2012 with sales of 82,260cts. for $14.3 million. Melee prices stabilized, increasing 3% after a decline of 13% in Q2. Single stone sales were better than expected with steady demand from Israeli dealers.

“There has been a noticeable uptick in prices and trading volume for small melee diamonds following a slow summer season. The recent strengthening of the Rupee and expectations for a reasonably good U.S. holiday season improved demand and stabilized prices for a broad range of commercial and promotional quality diamonds at popular price points.” said Ezriel Rapaport, Director of Rapaport Global Trading. 

Certified Diamond Prices Relatively Stable in August Says Rapaport Research

Certified polished diamond prices were relatively stable in August easing the steep declines witnessed in previous months. Dealers have sensed a restrained improvement in demand from Far East and Indian ‎buyers ahead of the fourth quarter season but trading volume remains low.

Jewelry retailers, who have been largely absent from the diamond market in 2012, started to inquire about goods again but have yet to resume significant buying. They are content to maintain low inventory levels and are monitoring whether price levels will hold steady through the September Hong Kong show.