|
|
Polished Diamond Prices Increase in December
Shortages Supporting the Market as RAPI for 1ct. Rises 1.5%
Jan 5, 2016 3:03 AM
By Rapaport
|
|
|
RAPAPORT... PRESS
RELEASE, January 5, 2015, New York … Polished diamond market sentiment improved
in December as shortages supported prices and dealers filled last-minute
holiday orders. Initial reports about U.S. holiday season jewelry sales are
positive. General retail sales were up about 8 percent with online mobile sales
up 50 to 60 percent. However, there is still very limited dealer and retailer
diamond inventory buying due to uncertainty about U.S. post-holiday demand and
the Chinese New Year.
The RapNet
Diamond Index (RAPI™) for 1-carat, GIA-graded diamonds rose 1.5
percent in December. RAPI for 0.30-carat diamonds advanced 4.7 percent and RAPI
for 0.50-carat diamonds grew 3 percent. RAPI for 3-carat diamonds fell 0.1
percent.
For the full
year 2015, RAPI for 1-carat diamonds declined 5.8 percent. RAPI for 0.30-carat
diamonds dropped 13.4 percent, while RAPI for 0.50-carat diamonds slumped 14.5
percent. RAPI for 3-carat diamonds fell 14.5 percent in 2015.
©
Copyright 2016, Rapaport USA Inc.
The Rapaport
Monthly Report notes that there is a shortage of select diamonds as suppliers
gradually sold off better-quality inventory and manufacturers limited polished
production due to high rough prices.
Manufacturers
in India kept their factories operating at about 30 percent below capacity
after they returned from the November Diwali break. De Beers and ALROSA kept
rough prices stable throughout the fourth quarter but both companies reported that
rough prices dropped 15 percent during the full year. Rapaport estimates that
De Beers rough sales fell 45 percent to approximately $3.6 billion in 2015,
with a 70% decline in the second half.
Sightholders
expect De Beers to reduce prices by 5 to 7 percent at the next sight (Jan. 18-22).
Rough demand is anticipated to increase as manufacturers raise polished
production to fill the shortages in the market. However, rough buying is
expected to remain below levels seen in previous years.
Dealers are
uncertain whether the polished market will continue to be supported by supply
shortages or if trading will become demand-driven as retailers refill inventory
sold during the holiday season. Furthermore, while Far East demand improved
ahead of the Chinese New Year (Feb. 8), sentiment remains cautious due to slower
economic growth and the Chinese government’s anti-corruption campaign. The 7
percent slump in stocks on the Shanghai Stock Exchange on Jan. 4 fueled further
caution.
The industry
ended a tough 2015 on a positive note. To maintain the momentum, the trade will
need to ensure profitability with lower rough prices while polished prices must
be supported by stronger consumer demand.
# # #
The Rapaport Monthly Report can be purchased store.rapaport.com/monthly-report
Rapaport Media Contacts: media@diamonds.net
U.S.: Sherri
Hendricks +1-702-893-9400
International:
Gabriella Laster +1-718-521-4976
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. of the 10 best priced diamonds, for the top 25 quality round
diamonds (D-H, IF-VS2, RapSpec-A3 and better) 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 at about $7.4 billion. Additional information is
available at www.Diamonds.net.
About
the Rapaport Group:
The Rapaport Group is an international network of companies providing added
value services that support the development of fair, transparent, competitive
and efficient diamond and jewelry markets. Established in 1978, the Rapaport
Price List is the primary source of diamond price and market information. Group
activities include Rapaport Information Services, Rapaport Magazine, and
Diamonds.net, providing research, analysis and news; RapNet – the world’s
largest diamond trading network; Rapaport Laboratory Services provides GIA
gemological services in India, Belgium and Israel; and Rapaport Trading and
Auction Services specializing in recycled diamonds and jewelry. The Group
supports over 20,000 clients in 118 countries and employs 220 people with
offices in New York, Las Vegas, Antwerp, Ramat Gan, Mumbai, Surat, Dubai and
Hong Kong. Additional information is available at www.Diamonds.net.
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 US, Inc. Copyright © Rapaport USA Inc. All rights
reserved.” |
|
|
|
|
|
|
|
|
|
Tags:
Chinese New Year, De Beers, diamonds, Diwali, holiday sales, holiday season, jewellery, Jewelry, Martin Rapaport, polished, prices, Rapaport, RAPI, RapNet
|
|
|
|
|
|
|
|
|
|
|