(IDEX Online) - Round prices maintained their long-term decline during June, but fancies fared significantly better, with price rises dominating in some sizes. Prices overall have been falling since hitting their peak last February.
Rounds are being badly hit by the global recession and an increasing price differential between lab growns and mined diamonds. Lab growns are becoming an increasingly attractive proposition for consumers and, as a consequence, for manufacturers.
Demand for lower-priced fancies is increasing at the expense of rounds. Manufacturers in India are chasing rough under 0.75-cts to keep their factories busy and avoid laying off workers, as they were forced to do during the Covid pandemic.
Signet, the largest jewelry retailer in the US, trimmed its full-year outlook last month by around seven per cent and announced plans to close around 150 of its 2,800 outlets as the "engagement gap" - a lockdown legacy - kicks in. De Beers' rough sales were down almost a third during its June cycle to $450m amid ongoing caution and poor sentiment.
HIGHLIGHTED CHANGES
Rounds
0.18-0.22 ct. D-G / SI3 -5-6%
0.23-0.29 ct. D-G / SI3 -4.5-5.5%
1.00-1.24 ct. D-G / VVS2-SI1 -1-5.5%
1.25-1.49 ct. D-H /IF-SI2 -1-5%
3.00-3.99 ct. D-G / VS1-SI2 -0.5-4%, I-N / VVS1-2 +1-3%
Fancy Cuts
0.50-0.69 ct. D-G / VVS1-VS1 +1.5-5.5%
1.00-1.24 ct. D-F / IF +1-2.5%, D / VVS1-SI1 -1-2.5%
4.00-4.99 ct. E-G / IF-VS2 -1-4%, L-N / IF-VS1 +1.5-4%
IDEX Online subscribers please click here to read the full report