Rapaport Press Release
RAPAPORT... PRESS RELEASE, June 10, 2014, New York... Diamond markets were quiet with stable prices in May. The trade focused on the U.S. ahead of the JCK Las Vegas show that took place May 29 to June 2. Polished diamond trading at the show was in line with expectations with steady U.S. demand for affordable VS-SI commercial-quality diamonds. Demand for better-quality large stones was relatively weak. Far East demand was quiet, despite robust jewelry sales during the May Day holiday.

The RapNet Diamond Index (RAPI™) for 1-carat diamonds fell 0.4 percent in May, while RAPI for 0.30-carat diamonds was flat and RAPI for 0.50-carat diamonds rose 0.8 percent. RAPI for 3-carat diamonds increased 0.4 percent during the month.

Copyright © by Martin Rapaport

The Rapaport Monthly Report – June 2014, “Steady Markets,” noted that sentiment remains positive after the first quarter of 2014 yielded strong results for the diamond trade. Activity slowed during the second quarter, as expected, while consumer markets in the U.S. and Hong Kong continued to report healthy growth.

India’s polished trade continued to be cautious amid weak domestic demand and tight liquidity in the manufacturing sector. However, Indian market optimism improved after the election of Narendra Modi as Prime Minister with hopes that he will enable a more favorable diamond trading and jewelry retail atmosphere.

Rough trading was firm in the secondary market, despite tight liquidity and the backlog of goods in the polished pipeline. Manufacturing levels increased slightly as Indian cutters returned from their summer vacations but manufacturers’ profit margins remain tight.

Diamond trading is expected to remain at steady but slightly subdued levels  in the coming months as inventory across the pipeline is relatively full. Wholesale and retail jewelers are anticipating a focus on filling orders rather than buying diamonds to build further inventory.

Read the attached Rapaport Monthly Report, "Steady Markets," 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 +1-718-521-4976;
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 1 million diamonds valued over $7 billion and 13,350 members in 86 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 gemological services in India, Belgium and Israel; and Rapaport Trading and Auction Services specializing in recycled diamonds and jewelry. The Group supports over 20,000 clients in 118 countries and employs 200 people with offices in New York, Las Vegas, Antwerp, Ramat Gan, Mumbai, Surat, Dubai and Hong Kong. Additional information is available at www.Diamonds.net.

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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