Rapaport Press Release
Speculative Rough Prices Unsustainable

RAPAPORT... PRESS RELEASE, March 5, 2013, New York: Certified polished diamond prices held steady in ‎February as U.S. markets and improved Far East consumer confidence have helped spur strong ‎demand for mid-quality VS-SI, triple EX diamonds.‎

The RapNet Diamond Index (RAPI™) for 1-carat certified polished diamonds increased ‎‎0.2 ‎percent in February. RAPI for 0.3-carat diamonds rose 2.7 percent and ‎‎0.5-carat stones ‎increased 0.7 percent while 3-carat diamonds fell 0.2 percent. Prices have held relatively ‎steady ‎in the first two months of 2013. ‎

The increase in RAPI for 0.3-carat stones was spurred by rising Far East demand for these ‎goods during the Chinese New Year season. ‎

Copyright © 2013 by Martin Rapaport

According to the just released Rapaport Monthly Report – March 2013, “Steady Markets, Rough ‎Anxieties,” supply and demand of the polished diamond and retail jewelry markets are in balance ‎while the recent surge in rough prices appears unsustainable.‎

Rough prices rose approximately 4 percent in February with large rough above 15 carats rising ‎by more than 12 percent. De Beers boxes trading on the secondary market continue to rise and ‎are garnering premiums above 5 percent. Rough supply remains controlled and relatively low, ‎while cutters have sufficient rough inventory to satisfy their immediate manufacturing ‎requirements. Cutters are expected to maintain low-level manufacturing at least until the ‎beginning of India’s fiscal year in April. ‎

The surge in rough prices is not being supported by polished demand. Dealer expectations for a ‎significant increase in polished prices to follow the recent rough hikes are premature. While the ‎Hong Kong show (March 5-9) is expected to exhibit pockets of strong demand for 0.30 to 1-‎carat, VS-SI, triple EX goods, and small-size Princess cuts, there may not be sufficient broad-‎based demand to support the overall increases in rough prices.‎

Purchase the full Rapaport Research Report, “Steady Markets, Rough Anxieties‎,” at www.diamonds.net/report.

Members of the press can obtain the report by emailing: specialreports@diamonds.net. ‎

Rapaport Media Contacts: media@diamonds.net  
International: Shira Topiol +1-702-425-9088 <> U.S.: Sherri Hendricks +1-702-893-‎‎9400 ‎‎<> ‎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 ct. 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 900,000 diamonds valued over US $6 ‎billion and ‎‎8000 members in ‎over 80 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, transparent, ethical, efficient 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. ‎

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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