|
|
Certified Polished Diamond Prices Stable in March
RapNet Diamond Index (RAPI) +0.4% in 1Q
Apr 4, 2013 5:23 AM
By Rapaport
|
|
|
RAPAPORT... PRESS RELEASE, April 4, 2013, New York: Certified polished diamond prices held steady in March with 0.30-carat stones continuing to outpace other sizes. Market sentiment improved throughout the first quarter of 2013 driven by seasonal Far East demand during the Chinese New Year period and steady U.S. bridal demand.
The March Hong Kong show exceeded expectations with both Chinese and Indian buyers active in the market. However, demand is limited to a specific range of commercial quality diamonds with 0.30-0.40ct., G-K, VS2-SI2 goods hot and good demand for medium to low qualities up to 2ct. There is strong demand for excellent cut triple EX goods which are in short supply and garnering premiums of up to 8 percent over VG-graded goods.
The RapNet Diamond Index (RAPI™) for 1ct. certified polished diamonds increased by 0.1 percent in March. RAPI for 0.3ct. diamonds rose 1.9 percent while 0.5ct. stones declined by 0.1 percent. RAPI for 3ct. diamonds increased 0.2 percent. During the first quarter, RAPI for 1ct. diamonds rose 0.4 percent but remains 11.1 percent below levels reached one year ago on April 1.
Copyright © 2013 by Martin Rapaport
According to the just released Rapaport Monthly Report – April 2013, “Cutting Margins,” rough and polished diamond trading improved in March but cooled toward the end of the month during the Passover and Easter holidays.
Speculative rough demand influenced an estimated 4 percent increase in rough prices in the secondary market in March with premiums reaching around 5 percent. De Beers increased prices at its March sight by reducing the quality of diamond assortments and then again increased prices by 3-8% at this week’s April sight. Supply remains restrained and sightholder applications for De Beers goods have declined by approximately 20 percent from one year ago.
Diamond manufacturers are encouraged by the recent stability in the polished market and have enjoyed slightly better profit margins so far in 2013. However, they remain cautious as rough prices are persistently one step ahead of the polished narrowing their margins and further tightening cutting center liquidity.
“Rough prices are not sustainable at the current level of polished demand. Responsible diamond manufacturers, rough dealers and their banks should refrain from supporting risky speculative rough buying,” said Martin Rapaport, Chairman of the Rapaport Group.
Read the attached Rapaport Research Report, “Cutting Margins,” at www.diamonds.net/report or email: 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 930,000 diamonds valued over US$6.1 billion and 8,000 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.”
|
|
|
|
|
|
|
|
|
|
Tags:
De Beers, diamonds, Rapaport, RapNet
|
|
|
|
|
|
|
|
|
|
|
|
|