Rapaport reported that polished diamond prices saw stability in March. Prices were supported by “steady dealer trading,” although the outlook for consumer demand is still uncertain.
As quoted in the market news:
The RapNet Diamond Index for 1-carat, GIA-graded diamonds was flat in March. RAPI for 0.30-carat diamonds fell 0.6 percent and RAPI for 0.50-carat diamonds was unchanged. RAPI for 3-carat diamonds slipped 0.4 percent.
In the first quarter, RAPI for 1-carat diamonds rose 1.4 percent, extending the uptrend from the fourth quarter. However, the index fell 4.6 percent below its level last year.
The Rapaport Monthly Report revealed that some new polished production sold better than left-over stock. Prices of desirable RapSpec A2 polished held firm at the March Hong Kong show but prices of old stock softened as dealers looked to replace difficult-to-sell inventory. The diamond pavilion at the show was busy but the jewelry section was quiet, reflecting restrained Chinese consumer demand.
Click here to read the full Rapaport report.
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