Rapaport Press Release
Rapaport Issues February 2011 Research Report: "Positive Polished; Raging Rough”
RAPAPORT...  Press Release, New York, March 3, 2011 - Certified polished diamond prices rose significantly in February driven by strong dealer demand in India, Belgium and Israel, and continued growth of retail demand in China. U.S. retail sales maintained their uptrend but wholesalers are still afraid to increase inventory levels. The polished market continues to lag behind the rough market and cutting profit margins remain tight.

As reported in the just released Rapaport Research Report entitled “Positive Polished; Raging Rough,” RapNet average asking prices increased 3.4 percent over the month of February 2011. Half carats were up 2.5 percent, one carats up 4.2 percent and three carats up 4.5 percent. Prices of small, inexpensive diamonds at Rapaport Auctions continued to strengthen during the month. Average prices on RapNet were 11.3 percent above levels seen at the end of February 2010.

High rough prices are being driven by strong Indian demand while mining companies continue to constrain supply. De Beers Diamond Trading Company (DTC) prices rose by an estimated average 7 percent in February, while prices at rough tenders increased by about 7 to 10 percent. Premiums in the secondary market remain in the high single digits despite the price hikes and demand remains strong.

While diamond trading is upbeat and dealers may be tempted to exploit current price trends, geopolitical and macroeconomic factors may still have a negative impact on the market. The trade is advised to avoid speculation and maintain caution.

Additional information about the state of the diamond market is available in the just released Rapaport Research Report - “Positive Polished; Raging Rough” at www.diamonds.net/report and via email by contacting specialreport@diamonds.net.

About the Rapaport Group: The Rapaport Group is an international network of companies providing added value services that support the development of free, fair and competitive global diamond markets. Established in 1978, the Rapaport Diamond Report is the primary source of diamond prices and market information. Group activities include publishing, research and marketing services, internet information and diamond trading networks, global rough and polished diamond tenders, diamond certification, quality- control, compliance, shipping, and financial services. Major activities of the group include the development of markets for Fair Trade Diamonds and Jewelry as well as the creation of diamond futures markets. Additional information is available at www.Rapaport.com

About RapNet: The RapNet – Rapaport Diamond Trading Network- www.rapnet.com is the world’s largest diamond trading network. With daily listings of over 715,000 diamonds valued at US$4.7 billion and over 5500 active trading members in over 74 countries, RapNet is the primary international marketplace for GIA and other certified diamonds. RapNet is available in English and Chinese.

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