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Certified Polished Diamond Prices Rise in March
RapNet Diamond Index for 1-Ct. +2.3% in 1Q14
Apr 7, 2014 8:00 AM
By Rapaport
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RAPAPORT... PRESS RELEASE, April 7, 2014, New York: Diamond markets were positive in March after the Hong Kong show demonstrated steady Chinese demand for commercial-quality diamonds. The recent Basel shows signaled robust demand for top-quality large diamonds, fancy colored diamonds and fine-cut fancy shape diamonds.
The RapNet Diamond Index (RAPI™) for 1-carat diamonds increased 0.8 percent during the month, while RAPI for 0.30-carat diamonds grew 3.8 percent and RAPI for 0.50-carat diamonds rose 2 percent. RAPI for 3-carat diamonds increased 1.4 percent. Prices firmed in all categories during the first three months of 2014 and the trade enjoyed its strongest quarter since early 2011.
Copyright © by Martin Rapaport
The Rapaport Monthly Report – April 2014, "A Good Quarter," noted that polished trading was steady throughout the first quarter driven by inventory replenishment throughout the pipeline. Polished demand was spurred by jewelers restocking after they had sold off inventory during the Christmas and Chinese New Year holiday periods. Diamond manufacturers began to buy rough again, having refrained from buying in the fourth quarter.
Rough trading was steady during March as prices were stable at the De Beers February 24 to 28 sight. However, recently, demand has slowed and premiums on the secondary market diminished after De Beer raised prices by 3 percent to 4 percent at the March 31 to April 4 sight. Liquidity is tight and manufacturers are maintaining production below full capacity. There are reported shortages of 0.30-carat to 0.40-carat diamonds, which are in high demand, but there remains a significant amount of polished diamonds in the pipeline – particularly as backlogs persist at the Gemological Institute of America (GIA).
The market is expected to slow in the second quarter as wholesale and retail jewelers have replenished their inventories and may restrain their buying at current higher polished price points. Liquidity has tightened as rough prices rose toward the end of March and banks are increasingly conservative in lending to the industry. While sentiment remains positive, diamond market growth is projected to stabilize in the coming months, after a relatively strong first quarter.
Read the attached Rapaport Monthly Report, ''A Good Quarter,'' at www.diamonds.net/report or email: specialreports@diamonds.net.
Rapaport Media Contacts: media@diamonds.net
U.S.: Sherri Hendricks +1-702-893-9400;
International: Lisa Miller +1-702-425-9088;
Mumbai: Manisha Mehta +91-97699-30065
About the Rapaport RapNet Diamond Index (RAPI™):The RAPI is based on the average asking price in hundred $/ct. for the top 25 quality 1 carat, round diamonds (D-H, IF-VS2, RapSpec-2 and better) with GIA grading reports offered for sale on RapNet – Rapaport Diamond Trading Network. The RAPI is provided for various sizes. www.RAPNET.com has daily listings of over 1 million diamonds valued over $7 billion and 13,000 members in 85 countries.
About the Rapaport Group: The Rapaport Group is an international network of companies providing added value services that support the development of fair, transparent, efficient, and competitive diamond and jewelry markets. Established in 1978, the Rapaport Diamond Report is the primary source of diamond price and market information. Group activities include Rapaport Information Services providing research, analysis and news; RapNet – the world's largest diamond trading network; Rapaport Laboratory Services provides GIA and gemological services in India, Belgium and Israel; and Rapaport Trading and Auction Services with monthly sales of over 50,000 carats. The Group employs 190 people with offices in New York, Las Vegas, Antwerp, Ramat Gan, Mumbai, Surat, Dubai, Hong Kong and Shanghai. Additional information is available at www.Rapaport.com.
Martin Rapaport (Publisher) grants limited permission to use copyrighted data appearing in this press release in and in conjunction with journalistic copy, reporting or articles concerning diamond pricing and information in graph or data presentation format only. The following credit notice must appear alongside, underneath, or in close proximity to any use of the copyrighted data: “Used with permission of Rapaport USA, Inc. Copyright © Martin Rapaport. All rights reserved.”
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Tags:
diamond, prices, Rapaport, reports
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