RAPAPORT... PRESS RELEASE, May 7, 2014, New York: Diamond markets slowed in April, although sentiment remained positive. Demand softened as jewelers reduced their buying after replenishing their inventory during the first quarter. Demand was selective and price sensitive. Far East markets were quiet with cautious gold jewelry demand, while U.S. demand was stable. Diamond trading was sporadic with many dealers taking vacations during the Passover and Easter holidays.
The RapNet Diamond Index (RAPI™) for 1-carat diamonds fell 0.5 percent during the month, while RAPI for 0.30-carat diamonds declined 1.3 percent and RAPI for 0.50-carat diamonds dropped 0.9 percent. RAPI for 3-carat diamonds fell 1 percent.
Copyright © by Martin Rapaport
The Rapaport Monthly Report – May 2014, “Trading Slows,” signaled good demand for 0.30-carat to 0.50-carat pointer-size, SI-clarity diamonds, with shortages due to continued delays of grading by the Gemological Institute of America (GIA). Liquidity is tight in the manufacturing centers as the turnover of polished diamonds has been prolonged by delays at the GIA and as the Indian banks have tightened their credit conditions.
Rough trading softened in April after prices increased by an estimated 7 percent to 10 percent during the first quarter of 2014. Following the De Beers April sight, rough trading on the secondary market slowed and premiums were reduced. Demand slowed for better-quality, certifiable rough. Rough trading was steady ahead of the De Beers sight on May 5 to 9.
The market is expected to stabilize in May and June, but trading is anticipated to remain below levels seen in the first quarter. Dealers have shifted their focus toward the U.S. ahead of the Las Vegas shows taking place at the end of May.
Read the attached Rapaport Monthly Report, "Trading Slows," at www.diamonds.net/report or email: specialreports@diamonds.net.
Rapaport Media Contacts: media@diamonds.net
U.S.: Sherri Hendricks +1-702-893-9400;
International: Lisa Miller +1-702-425-9088;
Mumbai: Manisha Mehta +91-97699-30065
About the Rapaport RapNet Diamond Index (RAPI™): The RAPI is based on the average asking price in hundred $/ct. for the top 25 quality 1 ct. round diamonds (D-H, IF-VS2, RapSpec-2 and better) with GIA 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 1 million diamonds valued over US$6.7 billion and 13,180 members in 84 countries.
About the Rapaport Group: The Rapaport Group is an international network of companies providing added value services that support the development of fair, transparent, efficient, and competitive diamond and jewelry markets. Established in 1978, the Rapaport Diamond Report is the primary source of diamond price and market information. Group activities include Rapaport Information Services providing research, analysis and news; RapNet – the world's largest diamond trading network; Rapaport Laboratory Services provides GIA and gemological services in India, Belgium and Israel; and Rapaport Trading and Auction Services with monthly sales of over 50,000 carats. The Group employs 200 people with offices in New York, Las Vegas, Antwerp, Ramat Gan, Mumbai, Surat, Dubai, Hong Kong and Shanghai. Additional information is available at www.Rapaport.com.
Martin Rapaport (Publisher) grants limited permission to use copyrighted data appearing in this press release in and in conjunction with journalistic copy, reporting or articles concerning diamond pricing and information in graph or data presentation format only. The following credit notice must appear alongside, underneath, or in close proximity to any use of the copyrighted data: “Used with permission of Rapaport USA, Inc. Copyright © Martin Rapaport. All rights reserved.”
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