Log In

 

Company Name : Rapaport Group

Tuesday, January 2, 2018 5:20PM IST (11:50AM GMT)

Diamond Prices Steady in December


New York, United States & Mumbai, Maharashtra, India

Polished diamond prices stabilized in December following a better-than-expected holiday season. US consumer sentiment was boosted by economic growth, record-high stock markets and a drastic tax overhaul that is expected to raise disposable income and discretionary spending.
 
The RapNet Diamond Index (RAPI) for 1-carat diamonds edged up 0.3% in December. RAPI for 0.30-carat diamonds rose 1.2%, while RAPI for 0.50-carat stones increased 0.6%. RAPI for 3-carat diamonds slid 1.7%.
 
The 1-carat RAPI softened 0.8% in the fourth quarter and fell 5.3% for the full year. The index declined for the sixth consecutive year in 2017, as noted in the Rapaport Diamond Price Statistics Annual Report to be published in the January 2018 edition of Rapaport Magazine.
 

RapNet Diamond Index (RAPI
  December 4Q 2017 Full Year 2017
RAPI 0.30 ct. 1.2% 1.0% -0.1%
RAPI 0.50 ct. 0.6% -0.9% -17.8%
RAPI 1 ct. 0.3% -0.8% -5.3%
RAPI 3 ct. -1.7% -0.9% 3.1%
© Copyright 2018, Rapaport USA Inc.
 
Market sentiment improved in December amid steady US holiday jewelry sales and consistent Chinese demand ahead of the Chinese New Year on February 16.

The US retail environment is undergoing unprecedented change, with strong online sales creating greater competition and price uncertainty due to internet discounting. Jewelers and diamantaires who provided added-value services and implemented strategies to engage with customers online and in-store had a successful holiday. In mainland China, more consistent local sales are replacing volatile Chinese tourist shopping elsewhere, with diamond engagement rings gaining popularity among Chinese millennials.
 
Diamond trading slowed in December, with US and Belgian dealers on vacation during the Christmas-to-New Year break. Dealers are encouraged by reports of positive retail sales, but are waiting for memo returns before assessing the holiday season.
 
Manufacturers are maintaining steady polished production in anticipation of a rise in first-quarter demand – a period when jewelers typically replenish stock sold during the holiday season.
 
Dealers start 2018 with a better outlook than in previous years. Booming stock markets, higher wages and lower taxes will result in a sustainable rise in wealth. That will lead to more diamond demand, even as growth in online sales, rising synthetics supply and changing consumer habits contribute to uncertainty.


Click here for Media Contact Details

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

Avital Engelberg, International, Rapaport, +1-718-521-4976, media@diamonds.net

Prashant Bhojani, Mumbai, Rapaport, +91-9769466855, media@diamonds.net


More News from Rapaport Group

04/12/2018 6:00PM

Small-Diamond Slump to Pressure Manufacturers

The sharp decline in prices of small, low-value diamonds will exert further pressure on India’s manufacturing sector, according to the latest issue of the Rapaport Research Report.

16/10/2018 6:21PM

RapNet Launches New Trade Center

RapNet, the world’s leading diamond trading network, is proud to announce the launch of the RapNet Trade Center.

04/09/2018 4:47PM

Diamond Prices Soften Ahead of Hong Kong Fair

Diamond prices dropped slightly in August due to slow trading during the summer vacation. The RapNet Diamond Index (RAPI™) for 1-carat diamonds fell 0.5% during the month - typically a quieter period, as bourses in ...

Similar News

15/12/2018 9:33PM

Diamond CBD, POTN Subsidiary, Enters the $46 Billion Coffee Market With the Release of Premium Line of CBD-Infused Coffee & Tea K-Kup Capsules

Diamond CBD Inc., wholly owned subsidiary of PotNetwork Holdings, Inc. (OTC Pink: POTN), a leader in hemp extraction and innovative CBD products for the wellness market, enters the Coffee segment, an industry expected ...

No Image

15/12/2018 8:39PM

IDEMIA Provides Subscription Management Platform to dtac in Thailand to Offer eSIM Connected Watches to All Its Subscribers.

IDEMIA, the global leader in Augmented Identity, has been selected by dtac, the leading mobile operator in Thailand, to offer connectivity on eSIM connected watches.   This press release features ...

News Summary

Polished diamond prices stabilized in December following a better-than-expected holiday season. US consumer sentiment was boosted by economic growth, record-high stock markets and a drastic tax overhaul that is expected to raise disposable income and discretionary spending.