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Diamond Price Index Firms Amid Slow Trade

RAPI for 1ct. up 1.9% in June

Jul 7, 2020 5:07 AM   By Rapaport
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RAPAPORT PRESS RELEASE, July 7, 2020, Las Vegas… The global diamond market was uncertain in June due to the resurgence of Covid-19 and geopolitical tensions.

Polished prices firmed for select goods. The RapNet Diamond Index (RAPI™) for 1-carat diamonds rose 1.9% during the month, driven by investment demand for 1-carat to 1.10-carat, D, IF, RapSpec A3+ stones. Prices for lower colors and clarities were volatile.

RapNet Diamond Index (RAPI™)
Apr. 1 to Jul. 1
Jan. 1 to Jul. 1
Jul. 1, 2019, to      Jul. 1, 2020 
RAPI 0.30 ct. -0.5% -3.6% -6.6% -1.6%
RAPI 0.50 ct. 1.1% -0.5% -5.4% -5.7%
RAPI 1 ct. 1.9% 2.3% -6.6% -8.7%
RAPI 3 ct.-1.9% -7.4% -4.7% -9.5%
© Copyright 2020, Rapaport USA Inc.

Sentiment was mixed as US retail gradually reopened following the lockdown period. Steady bridal sales supported the market for 0.50-carat to 2.99-carat diamonds. There was also interest in jewelry for gifting purposes. China continues to improve but there are concerns that clashes on its India border will impact trade between these important diamond centers.

US consumers remain cautious. Unemployment is at 11.1% and some states are shutting down again due to a spike in coronavirus infections. Jewelers are curbing their inventory buying and have enough goods to meet third-quarter demand. They remain focused on e-commerce. The major brands are investing in multichannel platforms.

Dealers are limited to buying and selling online due to travel restrictions. Most bourses have reopened but are seeing low activity. India has extended its voluntary moratorium on rough imports through July as manufacturers continue operating at significantly reduced capacity.

The decline in rough demand is putting pressure on mining companies. Smaller producers are willing to drop prices to generate sales and raise liquidity. De Beers and Alrosa are maintaining higher prices and are prepared to sell fewer diamonds during the crisis. Manufacturers are seeing greater profitability in buying rough via tenders than through contract sales.

The trade sees potential for improved demand in the fourth quarter and hopes to gain market share in discretionary spending this holiday season. The industry needs to develop a marketing message that taps into consumers’ values and the emotions that diamonds evoke.

For in-depth diamond price, supply and demand data, subscribe to the Rapaport Research Report here.

Rapaport Media Contacts: 
US: Sherri Hendricks +1-702-893-9400
International: Alex Shine +1-718-878-5138
Mumbai: Prashant Bhojani +91-97694-66855

About the Rapaport Research Report: The Rapaport Research Report provides subscribers with in-depth analysis of key themes affecting the diamond market. It also presents exclusive analytics on diamond prices for a variety of categories, based on sales and inventory data from RapNet®.

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® ( Additional information is available at

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; 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

Image: A polished diamond viewed through a loupe (Shutterstock).

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Tags: Alrosa, De Beers, diamonds, Jewelry, prices, Rapaport, RAPI, RapNet, RapNet Diamond Index
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