Log In

 

Company Name : Rapaport Group

Wednesday, October 4, 2017 12:50PM IST (7:20AM GMT)

Diamond Prices Decline in September


1ct. RAPI Drops 2% in Third Quarter


New York, United States & Mumbai, Maharashtra, India

Diamond prices softened in September as suppliers worked to liquidate old stock. Sentiment improved as trading returned to normal at the Hong Kong Jewellery & Gem Fair, with steady demand for goods at lower prices.
 
The RapNet Diamond Index (RAPI) for 1-carat diamonds slid 0.7% in September and 2% during the third quarter. The index is down 4.5% since January 1, and has dropped 7.4% in the past 12 months.  

 
RapNet Diamond Index (RAPI)
  September
Sep. 1, 2017 - Oct. 1, 2017
3Q 2017
Jul. 1, 2017 - Oct. 1, 2017
YTD
Jan. 1, 2017 - Oct. 1, 2017
Y2Y
Oct. 1, 2016 - Oct. 1, 2017
RAPI 0.30 ct. -1.6% -4.6% -1.1% -0.9%
RAPI 0.50 ct. -2.6% -8.0% -17.0% -21.0%
RAPI 1 ct. -0.7% -2.0% -4.5% -7.4%
RAPI 3 ct. 1.8% 2.1% 4.0% 5.4%
 © Copyright 2017, Rapaport USA Inc.

The Rapaport Monthly Report – October 2017 notes that lower prices have presented buying opportunities for jewelers at a time when they require inventory for the holiday season.
 
Manufacturers’ profit margins remain squeezed, as Alrosa and De Beers have held rough prices steady while polished demand has been sluggish. Rough prices on the dealer market and at auctions were down in September as trading slowed ahead of the October 19 Diwali festival. Indian suppliers have enough inventory to maintain their operations until Diwali, when factories typically close for two to three weeks.
 
The rise in inventory levels and the occurrence of Diwali means rough trading is expected to remain quiet through October and November. The number of unique stones listed on RapNet rose 21% in the first nine months of the year to 1.43 million diamonds.
 
Dealers are now focused on filling US holiday orders. Jewelers require less stock than before as they adjust to a changing retail environment. Still, expectations are rising for the holiday season, as jewelry retail sales in both the US and China are showing signs of improvement. A strong season should translate to stronger diamond demand in the first quarter of 2018, providing much-needed support for polished prices.
 
The Rapaport Monthly Report is available at store.rapaport.com/monthly-report


Click here for Media Contact Details

Sherri Hendricks, US, Rapaport, +1-702-893-9400, media@diamonds.net

Gabriella Laster, International, Rapaport, +1-718-521-4976, media@diamonds.net

Karishma Nagpal, Mumbai, Rapaport, +91-9820660574, media@diamonds.net


More News from Rapaport Group

03/07/2018 3:45PM

Diamond Prices Rise in June

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 ...

07/06/2018 12:26PM

Diamond Prices Stable Through Vegas Show Season

Diamond prices were stable in May as businesses focused on the Las Vegas shows that began on May 30.

02/05/2018 12:47PM

Diamond Prices Stable Amid Slow April Trading

The diamond market was seasonally quiet in April as dealers took vacation over the Passover and Easter holidays. Polished prices were steady, with manufacturers protecting their profit margins against recent rough-price ...

Similar News

17/07/2018 4:44PM Image

CMAI’s 67th National Garment Fair to Continue up to 19th July 2018

The Clothing Manufacturers Association of India (CMAI) has organized "India's Largest Apparel Trade Show – The 67th National Garment Fair" from 16th July to 19th July 2018 at Bombay Exhibition Centre, NSE Complex, ...

No Image

17/07/2018 4:34PM

More Than Half of Sub-Saharan Africa to Be Connected to Mobile by 2025, Finds New GSMA Study

More than half the population of Sub-Saharan Africa will be subscribed to a mobile service by 2025, according to the latest edition of the GSMA’s Mobile Economy report series, published at the GSMA ‘Mobile ...

News Summary

Diamond prices softened in September as suppliers worked to liquidate old stock. Sentiment improved as trading returned to normal at the Hong Kong Jewellery & Gem Fair, with steady demand for goods at lower prices.