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Diamond Prices Rise in June
1ct. RAPI Up 3.4% in First Half
Jul 3, 2018 5:00 AM
By Rapaport
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RAPAPORT PRESS RELEASE, July 3, 2018, New York … Diamond market sentiment was positive in June after the Las Vegas shows demonstrated robust US jewelry demand. Suppliers held polished prices firm amid shortages in some categories and as high rough prices squeezed manufacturing profit margins.
The RapNet Diamond Index (RAPI™) for 1-carat diamonds increased 0.8% in June. Prices strengthened in the second quarter, continuing the positive momentum seen since January. RAPI for 1-carat rose 3.4% in the first half of 2018 and was up 0.5% from a year ago on July 1.
| RapNet Diamond Index (RAPI™) |
|
June |
2Q 2018 |
1H 2018 |
Y2Y*
|
| RAPI 0.30 ct. |
3.1% |
2.3% |
9.7% |
5.7% |
| RAPI 0.50 ct. |
0.3% |
0.7% |
6.2% |
-3.2% |
| RAPI 1 ct. |
0.8% |
0.6% |
3.4% |
0.5% |
| RAPI 3 ct. |
0.5% |
0.9% |
0.9% |
2.1% |
© Copyright 2018, Rapaport USA Inc.
*July 1, 2017, to July 1, 2018.
Stable US and Chinese demand is supporting the market. Larger brands and innovative independents working to improve the buying experience in-store and online are gaining market share. Jewelers that are unable to change the way they engage with customers are losing out.
Retailers require less inventory from polished suppliers due to increased efficiency and are relying more on memo. There is a shift to using technology in-store, giving jewelers access to a larger virtual inventory that lets them provide customized service to millennial consumers. Savvy diamantaires are allowing jewelers to tap into their stock online, providing high-resolution images and detailed provenance of their supply from mine to market.
Manufacturers and dealers are aligning their inventory with retailers’ needs, resulting in slightly lower stock levels than this time last year. The number of diamonds listed on RapNet fell 4% year on year to 1.34 million stones as of July 1. Mining companies are also supplying less rough, selling lower volumes at higher average prices. De Beers’ rough sales fell 1.5% to $2.89 billion in the first half, according to Rapaport calculations, with prices up an estimated 3% to 4%.
Trading is expected to slow in July and August as dealers in New York, Belgium and Israel take their annual vacations. There is optimism for the second half as jewelers and diamantaires adjust to a changing marketplace.
Rapaport Media Contacts: media@diamonds.net
US: Sherri Hendricks +1-702-893-9400
International: Alex Shine +1-718-878-5138
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 $7.7 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 $7.7 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: Flickr (Roger Blake)
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Tags:
De Beers, diamonds, Jewelry, polished, Rapaport, RAPI, RapNet Diamond Index, rough
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