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Diamond Prices Stable Amid Slow April Trading

May 1, 2018 5:00 AM   By Rapaport
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RAPAPORT PRESS RELEASE, May 1, 2018, New York… The diamond market was seasonally quiet in April as dealers took vacation over the Passover and Easter holidays. Polished prices were steady, with manufacturers protecting their profit margins against recent rough-price hikes.

The RapNet Diamond Index (RAPI™) for 1-carat diamonds was flat in April. RAPI for 0.30-carat stones declined 0.6%, while RAPI for 0.50-carat rose 0.2%. RAPI for 3-carat diamonds slid 0.2%.

1-carat RAPI increased 2.8% in the first four months of the year, but was 1.3% lower than a year ago.

RapNet Diamond Index (RAPI)™
April Jan. - Apr. Y2Y
May 1, 2017 - May 1, 2018
RAPI 0.30 ct. -0.6% 6.6% 1.2%
RAPI 0.50 ct. 0.2% 5.6% -7.9%
RAPI 1 ct. 0.0% 2.8% -1.3%
RAPI 3 ct. -0.2% -0.2% 0.4%
© Copyright 2018, Rapaport USA Inc.

Sentiment was mixed in April. Dealers were encouraged by a rise in first-quarter polished prices amid steady orders from US and Chinese jewelers. There was also optimism that consumer demand would continue to improve, following reports of good retail sales during Christmas and the Chinese New Year. The large jewelry brands and savvy independents are investing in omni-channel to capitalize on millennial buying trends.

However, the trade is still under pressure. Liquidity tightened in India’s manufacturing sector as local banks reexamined loans, following a $2 billion fraud case involving two prominent jewelry companies. Manufacturing profit margins are also being squeezed, as rough prices increased an estimated 3% to 5% since the beginning of the year.

Rough trading stayed robust in April, after a spike in demand during the first quarter helped the major miners reduce their inventory. Alrosa’s sales volume for the three-month period exceeded production by 5.9 million carats, and De Beers sold 302,000 carats more than it produced.

Polished inventory levels subsequently increased, with the number of diamonds listed on RapNet rising 9% to 1.3 million between January 1 and May 1.

Demand is selective, since it is difficult for wholesalers to replace diamonds they have sold at lower prices. Trading is expected to remain slow in May, and inventory will rise as new polished becomes available. Dealers have shifted focus back to the US and are preparing inventory for the May Las Vegas shows.

Rapaport Media Contacts: media@diamonds.net
US: Sherri Hendricks +1-702-893-9400
International: Avital Engelberg +1-718-521-4976
Mumbai: Prashant Bhojani +91-97694-66855

About the Rapaport 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 – Rapaport Diamond Trading Network. www.RapNet.com has daily listings of approximately 1.3 million diamonds valued at approximately $7.6 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 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, with over 15,000 members in 96 countries and daily listings of approximately 1.3 million diamonds valued at approximately $7.6 billion; Rapaport Laboratory Services, providing GIA and Rapaport gemological services in India, Israel and Belgium; and Rapaport Trading and Auction Services, the world’s largest recycler of diamonds, selling over 500,000 carats of diamonds a year. Additional information is available at www.diamonds.net.






Image: iStock
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Tags: Alrosa, De Beers, diamonds, Jewelry, Rapaport, RAPI, RapNet
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