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Rising Polished Prices Boost Sentiment

RAPI for 1ct. up 3.2% in August

Sep 1, 2020 5:00 AM   By Rapaport
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RAPAPORT PRESS RELEASE, September 1, 2020, Las Vegas… Diamond markets improved in August as governments eased Covid-19 restrictions and dealers sought to fill specific orders from jewelers. Indian manufacturers increased polished production to fill shortages in certain categories.

Polished prices firmed. The RapNet Diamond Index (RAPI™) for 1-carat diamonds rose 3.2% in August. It has fallen 0.4% since the beginning of the year.

RapNet Diamond Index (RAPI™)
August Year to date
Jan. 1 to Sep. 1
Year on year
Sep. 1, 2019, to Sep. 1 2020
RAPI 0.30 ct. 5.3% 0.8% 13.4%
RAPI 0.50 ct. 6.9% 7.7% 13.0%
RAPI 1 ct. 3.2% -0.4% -1.5%
RAPI 3 ct. -1.5% -6.9% -8.0%
© Copyright 2020, Rapaport USA Inc.

Rough trading increased after De Beers reduced prices by an estimated 6% to 8% for 1-carat and larger rough. Alrosa reportedly lowered prices by a similar margin for a broader range of its rough supply.

The reductions were the first adjustments the major mining companies had made since the coronavirus outbreak. They had previously kept prices stable to support the industry with low supply when the market slumped during the pandemic. The companies made the changes in August following an improvement in polished trading during the prior two months. Certain categories of RapSpec A3 and better goods are seeing shortages due to factories operating at significantly reduced capacity since April.

With rising expectations for the holiday period, manufacturers are buying rough to prepare for seasonal polished demand. There are concerns that continued strong rough buying will squeeze liquidity and lead to an oversupply of polished. There remains a large volume of lower-quality goods on the market. RapNet listings contained more than $6.3 billion worth of diamonds as of September 1.

Jewelers are adapting to the Covid-19 selling environment as consumers get used to social distancing and safety restrictions. Customers are also buying more jewelry online. However, retailers are exerting caution due to second and third waves of infections across the globe. Jewelers are carefully managing their inventory, and trading volumes remain well below pre-pandemic levels.

Note: The RapNet Diamond Index (RAPI™) is based on RapSpec A3 standards that no longer include diamonds with faint fluorescence. Historic RapSpec A3 data has been updated to reflect the new standards.

For in-depth diamond price, supply and demand data, subscribe to the Rapaport Research Report here.

Rapaport Media Contacts: 
US: Sherri Hendricks +1-702-893-9400
International: Alex Shine +1-718-878-5138
Mumbai: Prashant Bhojani +91-97694-66855

About the Rapaport Research Report: The Rapaport Research Report provides subscribers with in-depth analysis of key themes affecting the diamond market. It also presents exclusive analytics on diamond prices for a variety of categories, based on sales and inventory data from RapNet®.

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® ( Additional information is available at

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; Rapaport Laboratory Services, providing Rapaport gemological services in India, Israel and New York; and Rapaport Trading and Auction Services, the world’s largest recycler of diamonds, selling over 400,000 carats of diamonds a year. Additional information is available at

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