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Certified Polished Diamond Prices Stable in April
May 7, 2013 5:44 AM
By Rapaport
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RAPAPORT... PRESS RELEASE, May 6, 2013, New York: Certified polished diamond prices were stable in April as trading slowed during the Passover and Easter holidays. The Basel show and New York auctions demonstrated strong demand for select, top-quality diamonds but overall market sentiment remains weak.
High-end large stones above 10 carats, as well as fancy intense pink and blue diamonds, and very finely cut fancy shapes are hot. There is steady Chinese demand for 0.30-carat to 0.40-carat, G to H, VS to SI, triple EX diamonds for engagement rings. Chinese demand for commercial-quality stones is also improving.
The RapNet Diamond Index (RAPI™) for 1-carat certified polished diamonds remained flat during April. RAPI for 0.30-carat diamonds increased 0.8 percent while 0.50-carat stones rose 0.2 percent. RAPI for 3-carat diamonds declined by 0.3 percent. During the first four months of the year, RAPI for 1-carat diamonds rose 0.3 percent but they remain 11.2 percent below levels reached one year ago on May 1.
Copyright © 2013 by Martin Rapaport
According to the just released Rapaport Monthly Report – May 2013, “Slow, Stable Trading,” the second quarter continues to be a traditionally slower period for the diamond trade. Cutting centers are quiet with tight liquidity in India. The polished market was stable in April but with low volume of trading, which is expected to continue through May.
Rough trading is steady after prices increased in early April. De Beers goods continue to sell on the secondary market at premiums of around 5 percent. Production increased slightly in the first quarter and an expected increase in supply should help ease rough price pressure. Additional short-term rough price increases appear unsustainable and are not supported by polished demand.
Volatile commodities markets spurred gold jewelry demand in the Far East as retailers focused on gold instead of diamonds ahead of the May Day holiday. Lower gold prices may spur additional jewelry demand in the coming months. However, they are unlikely to significantly impact diamond markets, which are expected to remain relatively slow but steady in the short term.
Read the attached Rapaport Research Report, “Slow, Stable Trading,” 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: Shira Topiol +1-702-425-9088; 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 990,000 diamonds valued over US$6.4 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 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 and gemological services in India, Belgium and Israel; and Rapaport Trading and Auction Services with monthly sales of over 50,000 carats. The Group employs 180 people with offices in New York, Las Vegas, Antwerp, Ramat Gan, Mumbai, Surat, Dubai, Hong Kong and Shanghai. 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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Tags:
Alrosa, De Beers, diamonds, Rapaport, RAPI
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