Rapaport Press Release
Rapaport February Research Report: Showing Restraint
RAPAPORT... Press Release, March 6, 2012, New York: Certified polished diamond prices softened in February. Far East demand was steady, as evidenced at the Hong Kong International Jewellery Show. However, buyers remain cautious about the first half of 2012 as economic uncertainties persist and diamond trading is restrained.

The RapNet Diamond Index (RAPI™) for 1.00-carat polished diamonds fell 1.8 percent to 94.18 in February. The RAPI for 0.30-carat diamonds rose 3.6 percent to 16.04 and the RAPI for 0.50-carat diamonds rose 0.9 percent to 34.81. The RAPI for 3.00-carat stones fell 2.1 percent to 343.32.

India’s polished trade declined following the sudden government-imposed 2 percent import tax on polished diamonds. The recent stability of the rupee has partially restored consumer and trade confidence. Similarly, Israel’s trading saw some renewed confidence after the taxation and police authorities agreed to suspend, for one month, their investigations into company transactions in the Israel Diamond Exchange. The inquiries stymied polished trading in the bourse through January and February.

Rough trading is weak due to high prices that are impacting cutters' profit margins. De Beers Diamond Trading Company (DTC) sales so far this year are an estimated 14 percent lower than the comparable period of 2011, while ALROSA's sales are up 21 percent. Increased rough supplies from Zimbabwe’s Marange mines have also ensured sufficient rough on the market and are softening prices for lower quality goods.

According to the just-released Rapaport Research Report, "Showing Restraint," the diamond industry continues to operate with caution, avoiding large-scale purchases. While some of the lost confidence in trading was restored in February, the next few months are expected to present significant ongoing challenges to the diamond industry.

Additional information about the state of the global diamond market is available in the just-released Rapaport Research Report: "Showing Restraint" which is attached and can be found at www.diamonds.net/report or by emailing: specialreports@diamonds.net.

Rapaport Media Contacts: media@diamonds.net
International: Alissa Goren +1-718-473-0882<> U.S.: Sherri Hendricks +1-702-893-9400 <> Mumbai: Mittal Kalsy, +1-91-97699-30069

About the RapNet Diamond Index (RAPI): The RAPI is based on the best asking price in hundred $/ct. for the top 25 quality 1 ct. round diamonds (D-H, IF-VS2, RapSpec-2 and better) with GIA, HRD or AGS grading reports offered for sale on RapNet – Rapaport Diamond Trading Network. The RAPI is provided for various sizes. www.RAPNET.com has daily listings of over 800,000 diamonds valued over US$5 billion and 7000 members in over 78 countries.

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.

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