Diamond Prices Rise in January

RAPAPORT PRESS RELEASE, February 6, 2018, New York... Diamond market sentiment improved in January, with firm prices after retailers reported a better-than-expected holiday season. Suppliers are gaining confidence about first-quarter orders as jewelers start to replenish stock after holiday sales. The RapNet Diamond Index (RAPI?,,?) for 1-carat diamonds rose 2.2% during January. RAPI for 0.30-carat diamonds increased 2.3%, while 0.50-carat stones gained 2.4%. RAPI for 3-carat diamonds edged up 0.5%. Despite the upswing, RAPI for 1-carat diamonds was down 2.3% from a year ago. (C) Copyright 2018, Rapaport USA Inc.Established higher-end jewelers such as Tiffany & Co., Bulgari, Cartier and Van Cleef & Arpels had a strong holiday season, as did independent retailers with prominent displays of recognized diamond jewelry brands. Overall, jewelers had more effective omni-channel execution than in previous years. Diamond trading was steady throughout the month, with suppliers filling specific requests as they waited for post-holiday inventory orders from retailers. Chinese dealer demand slowed as store owners completed their buying and focused on selling stock to consumers for the Chinese New Year, which begins on February 16. Indian manufacturers are raising their polished production after operating at reduced levels since the November Diwali break. Dealer inventory is relatively low, with the number of unique diamonds listed on RapNet having risen by just 1% during the month to 1.19 million as of February 1 - 6% below the number of listings a year earlier. Rough trading remains robust as manufacturers ramp up production. De Beers sold $665 million worth of goods in January, with boxes going for an estimated 6% average premium on the secondary market. Profit margins are expanding. However, rough prices are expected to rise in the coming months as miners seek to resume growth in an improving polished market, particularly after last year's sales declines. Positive consumer spending in the US and China is likely to support polished prices, and continues to fuel optimism for 2018. Rapaport Media Contacts: media@diamonds.netUS: Sherri Hendricks +1-702-893-9400 International: Avital Engelberg +1-718-521-4976Mumbai: Prashant Bhojani +91-97694-66855About 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 1.2 million diamonds valued at approximately $7.3 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 94 countries and daily listings of approximately 1.2 million diamonds valued at approximately $7.3 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: Shutterstock