Rapaport Press Release
RapNet Diamond Index Stable in March
RAPAPORT... Press Release, April 4, 2012, New York: Certified polished diamond prices were stable in March as market sentiment improved despite slow trading. Healthy Far East and U.S. demand helped boost the trade but tapered off toward the end of the month. While prices declined in the first three months of the year, the diamond industry closed the first quarter in an improved condition from that of the end of 2011 and a sense of stability prevailed in the market.    

In March, the RapNet Diamond Index (RAPI™) for 1.00 ct. polished diamonds rose 0.2 percent to 94.36. The 0.3 ct. category increased 1.4 percent to 16.26 while 0.5 ct. dropped 1.1 percent to 34.44. RAPI for 3.00 ct. diamonds fell 0.3 percent to 342.32.

During the first quarter of 2012, the RAPI for 1.00 ct. diamonds fell 2.7 percent, while 0.3 ct. stones rose 0.9 percent and 0.30 ct. diamonds increased a slight 0.2 percent. The RAPI for 3.00 ct. diamonds declined by 2.7 percent during the quarter.
While prices are stable, trading is quiet. India’s jewelry trade has been negatively impacted by the 2 percent tax on diamond imports, which has resulted in tighter credit to the industry. Global demand, however, has been spurred by rising consumer sentiment in the Far East and U.S. Rough demand has improved, especially from Indian buyers, and prices strengthened in March while rough supply remains restrained.

According to the just released Rapaport Research Report, “Slow Yet Steady,” jewelry retail inventories have declined but buyers remain hesitant to replenish their diamond stocks in a large-scale significant way. There is rising demand for fancy shape diamonds. Consumers continue to shift toward smaller, lower quality diamonds at more affordable price points. Trading is expected to remain cautious in the second quarter while market conditions are projected to improve in the same slow but steady manner as they did in the first quarter.

Additional information about the state of the global diamond market is available in the just-released Rapaport Research Report: "Slow Yet Steady" which is attached and can be found at www.diamonds.net/research or by emailing: specialreports@diamonds.net.
Rapaport Media Contacts: media@diamonds.net
International: Alissa Goren +1-718-473-0882<> U.S.: Sherri Hendricks +1-702-893-9400 <> Mumbai: Mittal Kalsy, +1-91-97699-30069

About the RapNet Diamond Index (RAPI): The RAPI is based on the best asking price in hundred $/ct. for the top 25 quality 1 ct. round diamonds (D-H, IF-VS2, RapSpec-2 and better) with GIA, HRD or AGS 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 850,000 diamonds valued over US$5 billion and 7100 members in over 78 countries.

About the Rapaport Group: The Rapaport Group is an international network of companies providing added value services that support the development of free, fair and competitive global diamond markets. Established in 1978, the Rapaport Diamond Report is the primary source of diamond prices and market information. Group activities include publishing, research and marketing services, internet information and diamond trading networks, global rough and polished diamond tenders, diamond certification, quality- control, compliance, shipping, and financial services. Major activities of the group include the development of markets for Fair Trade Diamonds and Jewelry as well as the creation of diamond futures markets. Additional information is available at www.Rapaport.com.

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