|
|
Diamond Prices Stable Through Vegas Shows
Jun 5, 2018 5:00 AM
By Rapaport
|
|
|
RAPAPORT PRESS RELEASE, June 5, 2018, New York… Diamond prices were stable in May as businesses focused on the Las Vegas shows that began on May 30. The JCK fair was relatively slow, with fewer retail buyers attending. Steady dealer demand supported polished price levels.
The RapNet Diamond Index (RAPI™) for 1-carat diamonds slid 0.2% in May. RAPI for 0.30-carat goods dropped by the same margin, while 0.50-carat stones rose 0.2%. RAPI for 3-carat diamonds increased 0.7% during the month.
RAPI for 1-carat increased 2.5% in the first five months of the year, but was down 1.2% from a year earlier.
| RapNet Diamond Index (RAPI™) |
|
May |
Jan. - May |
Y2Y
Jun. 1, 2017 - Jun. 1 2018 |
| RAPI 0.30 ct. |
-0.2% |
6.5% |
1.1% |
| RAPI 0.50 ct. |
0.2% |
5.8% |
-6.4% |
| RAPI 1 ct. |
-0.2% |
2.5% |
-1.2% |
| RAPI 3 ct. |
0.7% |
0.5% |
0.7% |
© Copyright 2018, Rapaport USA Inc.
The Las Vegas shows highlighted significant challenges facing the diamond industry amid De Beers’ mainstream embrace of synthetics, and the use of blockchain technology to verify sourcing.
Smaller businesses are under pressure as they face competition from major diamond companies developing exclusive rough-to-retail channels. De Beers’ entry into synthetics will undercut the existing lab-grown sector, but also compete with low-cost natural-diamond fashion jewelry.
Sales are up in 2018, but midstream profit margins are being squeezed by higher rough prices and reduced retail-inventory buying. Strong demand during the first quarter has led to a slowdown during May and June, as retailers have sufficient stock for now. Jewelers are looking to fill immediate orders and require less inventory due to increased interest in customized pieces and greater reliance on memo goods.
Dealer inventory levels have consequently gone up. The number of unique diamonds listed on RapNet has risen 10% since the beginning of the year, reaching 1.3 million stones valued at $7.7 billion on June 1. Retailers are expected to start placing orders again in the third quarter as they prepare for the holiday season, and suppliers must offer a strong follow-up to the Las Vegas shows to take advantage of the prevailing positive sentiment.
Rapaport Media Contacts: media@diamonds.net
US: Sherri Hendricks +1-702-893-9400
International: Avital Engelberg +1-718-521-4976
Mumbai: Prashant Bhojani +91-97694-66855
About the Rapaport RapNet Diamond Index (RAPI™): The RAPI is the average asking price in hundred $/ct. of the 10% best-priced diamonds, for each of the top 25 quality round diamonds (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better) offered for sale on RapNet – Rapaport Diamond Trading Network. www.RapNet.com has daily listings of approximately 1.3 million diamonds valued at approximately $7.7 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 ethical, transparent, competitive and efficient diamond and jewelry markets. Established in 1976, the Group has more than 20,000 clients in over 121 countries. Group activities include Rapaport Information Services, providing the Rapaport benchmark Price List for diamonds, as well as research, analysis and news; RapNet – the world’s largest diamond trading network, with over 15,000 members in 96 countries and daily listings of approximately 1.3 million diamonds valued at approximately $7.7 billion; Rapaport Laboratory Services, providing GIA and Rapaport gemological services in India, Israel and Belgium; and Rapaport Trading and Auction Services, the world’s largest recycler of diamonds, selling over 500,000 carats of diamonds a year. Additional information is available at www.diamonds.net.
Image: JCK Events
|
|
|
|
|
|
|
|
|
|
Tags:
De Beers, diamond, diamonds, jewellery, Jewelry, Rapaport, RAPI, RapNet
|
|
|
|
|
|
|
|
|
|
|
|
|