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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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