|
|
Certified 1-Ct. Polished Diamond Prices +0.3% in February
Mar 4, 2014 5:19 AM
By Rapaport
|
|
|
RAPAPORT... PRESS RELEASE, March 4, 2014, New York: Diamond market sentiment improved in February as polished diamond prices rose, while rough diamond prices remained stable. Polished trading was driven by U.S. and Chinese demand as jewelers began to replenish inventory sold during the Christmas and Chinese New Year shopping seasons. As a result, polished dealers have high expectations for the Hong Kong show, which began on March 3.
In February, the RapNet Diamond Index (RAPI™) for 1-carat certified polished diamonds increased 0.3 percent, while RAPI for smaller diamonds continued the positive trend that was evident in 2013. There is strong demand for 0.30-carat to 0.50-carat, GIA dossiers with large inventory building up at the Gemological Institute of America (GIA) due to delays.
Copyright © by Martin Rapaport
The Rapaport Monthly Report – March 2014, ''Rising Confidence,'' noted enhanced confidence among diamond manufacturers as polished prices have firmed and profit margins improved. There was greater liquidity in the market as manufacturers’ inventories declined. However, concerns remain that liquidity will tighten in the coming months since trading is expected to slow in the second half of the year and banks are reducing their credit to the industry.
Improved liquidity helped boost rough trading at the start of 2014 and demand remained strong in February. De Beers kept prices stable at its February sight and boxes continued to garner steady premiums in the secondary market. There is particularly good demand for rough that yields polished below 1-carat and for SI and lower clarity diamonds.
Diamond markets are optimistic but all eyes are on this week’s Hong Kong show to assess whether the positive trend will be sustainable. The show is expected to reflect selective Far East demand with price sensitive buyers. Polished suppliers are clamoring for higher prices but buyers are resisting as retail jewelry demand is steady but not booming.
Read the attached Rapaport Monthly Report, Rising Confidence, 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 +1-702-425-9088;
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 1 million diamonds valued over US$6.5 billion and 12,900 members in over 85 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 190 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.”
|
|
|
|
|
|
|
|
|
|
Tags:
diamonds, Rapaport
|
|
|
|
|
|
|
|
|
|
|
|
|