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Polished Diamond Prices Stable in March
One-Carat RAPI +1.4% in 1Q
Apr 5, 2016 5:05 AM
By Rapaport
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RAPAPORT... PRESS
RELEASE, April 5, 2016, New York … Polished diamond prices were stable in March
supported by steady dealer trading even though the outlook for consumer demand
remains uncertain. In the first quarter, sentiment improved as polished prices rose
and profitability increased on select new production.
The RapNet
Diamond Index for 1-carat, GIA-graded diamonds was flat in March. RAPI for
0.30-carat diamonds fell 0.6 percent and RAPI for 0.50-carat diamonds was
unchanged. RAPI for 3-carat diamonds slipped 0.4 percent.
In the first
quarter, RAPI for 1-carat diamonds rose 1.4 percent, extending the uptrend from
the fourth quarter. However, the index fell 4.6 percent below its level last year.
©
Copyright 2016, Rapaport USA Inc.
The Rapaport
Monthly Report revealed that some new polished production sold better than left-over
stock. Prices of desirable RapSpec A2 polished held firm at the March Hong Kong
show but prices of old stock softened as dealers looked to replace difficult-to-sell
inventory. The diamond pavilion at the show was busy but the jewelry section
was quiet, reflecting restrained Chinese consumer demand.
The positive
energy among diamond dealers in Hong Kong was replaced by frustration at the Basel
show, which demonstrated cautious European luxury demand and weak economic
sentiment. Demand was good for rare intense pink and blue diamonds, while
big-stone demand was limited to bargains.
A larger
volume of polished is expected to enter the market in the coming months given an
estimated 20 percent rise in manufacturing levels this year following a decline
of 40 percent in the second half of 2015. The number of RapSpec A3 diamonds
listed on RapNet – Rapaport’s Diamond Trading Network – increased 30 percent in
the first quarter.
Rough demand
is expected to soften in the second quarter as polished production has
increased ahead of demand. Rough trading slowed in March with De Beers goods in
short supply as the company did not hold a sight during the month. ALROSA kept
its rough prices unchanged for the sixth consecutive month, while rough sold at
auctions softened in March but remains expensive.
Following De
Beers price reduction of 7 percent to 10 percent in January, manufacturers’
profitability returned as polished prices improved due to shortages created in
the second half of 2015. De Beers rough is in demand as many believe it is
currently offering the best value to manufacturers.
The first
quarter of 2016 was relatively positive for the diamond trade. However, trading
was largely driven by dealers looking to replenish select inventory to fill
existing orders. Jewelers and diamond dealers are carefully managing their
inventory, while consumer demand is uncertain.
See www.diamonds.net/Prices/RapaportSpecs.aspx
for full explanation of Rapaport Diamond Specifications.
# # #
The Rapaport
Monthly Report can be purchased at store.rapaport.com/monthly-report
Rapaport
Media Contacts: media@diamonds.net
U.S.: Sherri
Hendricks +1-702-893-9400
International:
Gabriella Laster +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. of the 10 percent best priced diamonds, for the top 25
quality round diamonds (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better), which
are 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 at approximately $8.03
billion. Additional information is available at www.Diamonds.net.
About
the Rapaport Group:
The Rapaport Group is an international network of companies providing added
value services that support the development of fair, transparent, competitive
and efficient diamond and jewelry markets. Established in 1978, the Rapaport
Price List is the primary source of diamond price and market information. Group
activities include Rapaport Information Services, Rapaport Magazine, and
Diamonds.net, 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 121 countries and has 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 2016 ©
Rapaport USA. All rights reserved.”
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Tags:
diamonds, Jewelry, Martin Rapaport, prices, Production, Rapaport, Rapaport News, RAPI, RapNet
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