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Diamond Prices Firm Amid Optimistic Outlook

Rapaport Spotlights the Trade’s Recovery

Jul 6, 2021 5:00 AM   By Rapaport
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RAPAPORT PRESS RELEASE, July 6, 2021, Las Vegas… Robust retail sales are driving positive sentiment in the diamond market. Polished prices continue their upward momentum even as inventory levels gradually rise in some sizes.

Steady demand, shortages in certain categories and high rough costs are supporting prices. The RapNet Diamond Index (RAPI™) for 1-carat diamonds climbed 2.7% in June.

RapNet Diamond Index (RAPI™)
June 1H
Jan. 1 to Jul. 1
Year on year
Jul. 1, 2020, to Jul. 1, 2021
RAPI 0.30 ct. 0.5% 1.0% 8.8%
RAPI 0.50 ct. 1.4% 0.1% 15.8%
RAPI 1 ct. 2.7% 7.9% 21.2%
RAPI 3 ct. 2.0% 6.6% 18.0%
© Copyright 2021, Rapaport USA Inc.

RAPI for 0.30- and 0.50-carat stones increased at a slower pace as inventory grew during the second quarter. Sales were weaker in the D to H, IF to VS range amid a shift in demand toward SIs. The lower the clarity, the better the market.

Inventory of 1-carat diamonds remains relatively low. Delays persist at the Gemological Institute of America (GIA), which is seeing record submissions globally and a turnaround of over one month at its India labs.

Polished suppliers are maintaining steady discounts due to high rough costs. De Beers and Alrosa raised prices an estimated 5% on average in June for goods above 1 carat. Rough sales remain strong. De Beers almost tripled its revenue in the first half of 2021 to $2.52 billion.

Polished dealers are cautious about buying at current valuations and are struggling to find the right goods at competitive prices. Some worry the industry can’t sustain its recent price uptrend through the summer.

However, the market is optimistic for the holiday season due to the retail recovery in the US and China. Rapaport will explore the theme of “Sustainable Growth” in the July issue of Rapaport Magazine and on the portal this month.

“We expect to see robust diamond and jewelry demand for the balance of 2021 and possibly well into 2022 depending on the level of US economic stimulus. Given the high percentage of US consumer goods coming from China, US stimulus is China stimulus. The short-term outlook — the one-year outlook — is very good to excellent,” said Rapaport Group Chairman Martin Rapaport.

For in-depth diamond price, supply and demand data and analysis, 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 for diamond prices in a variety of categories, based on sales and inventory data from RapNet®.

About the 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 Rapaport gemological services in India, Israel and New York; and Rapaport Trading and Auction Services, the world’s largest recycler of diamonds, selling over 400,000 carats of diamonds a year. Additional information is available at
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Tags: Alrosa, De Beers, diamonds, Jewelry, Rapaport, RAPI, RapNet, stimulus
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