{"id":13695,"date":"2022-02-02T18:04:08","date_gmt":"2022-02-02T12:34:08","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=13695"},"modified":"2022-02-02T18:05:04","modified_gmt":"2022-02-02T12:35:04","slug":"rapaport-names-three-factors-driving-up-polished-prices","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/rapaport-names-three-factors-driving-up-polished-prices\/","title":{"rendered":"Rapaport Names Three Factors Driving Up Polished Prices"},"content":{"rendered":"\n<p>The diamond industry began the year in an upbeat mood after good holiday jewellery sales, <em>Rapaport<\/em> Group said in a release. That optimism was tempered toward the end of the month by rough price hikes, Covid-19\u2019s Omicron variant, stock-market volatility and geopolitical tensions, it noted.<\/p>\n\n\n\n<p>The RapNet Diamond Index (RAPI\u2122) for 1-carat polished diamonds rose 6.9% during January and was up 26.3% year on year as of 1<sup>st<\/sup> February.<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong>RapNet Diamond Index (RAPI\u2122)<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>January<\/strong><\/td><td><strong>Y2Y<\/strong><br>1<sup>st<\/sup> Feb., 2021, to 1<sup>st<\/sup> Feb., 2022<\/td><\/tr><tr><td>1.0%<\/td><td>-0.3%<\/td><\/tr><tr><td>3.2%<\/td><td>5.4%<\/td><\/tr><tr><td><strong>6.9%<\/strong><\/td><td><strong>26.3%<\/strong><\/td><\/tr><tr><td>7.1%<\/td><td>25.0%<\/td><\/tr><\/tbody><\/table><figcaption><em>\u00a9 Copyright 2022, Rapaport USA Inc.<\/em><\/figcaption><\/figure>\n\n\n\n<p>De Beers raised rough prices at its January sight by an estimated 15% for small goods and 5% to 12% for 3-grainer and larger diamonds, <em>Rapaport<\/em> said. Alrosa made similar increases at its contract sale. Goods were trading at high premiums on the secondary market due to scarcities; the miners\u2019 more targeted rough allocations meant fewer stones were making their way to dealers.<\/p>\n\n\n\n<p>There were also shortages in the polished market, particularly for triple-Ex goods. Manufacturers were still operating at an estimated 75% of capacity due to Covid-19 measures and because many workers had not returned from earlier coronavirus shutdowns, <em>Rapaport<\/em> explained. The shift to cutting higher-value, certified goods during the pandemic\u2019s initial stages caused prices for small and low-value polished to increase significantly from September 2021 onward as supply dwindled.<\/p>\n\n\n\n<p>US demand continues to support the market as jewellers replace inventory they sold over the holidays. China\u2019s wholesale sector has been relatively quiet in the run-up to the Chinese New Year, which begins 1<sup>st<\/sup> February. There was some uncertainty about the season due to Covid-19 restrictions on retail. Buyers there were also putting off bulk purchases until polished prices settled again after recent increases.<\/p>\n\n\n\n<p>Three main factors are driving the high polished valuations: supply shortages, good US demand, and steep rough prices. Manufacturers are holding their prices firm as their rough costs rise. For now, it\u2019s easier to sell than to buy. That may change in the coming months as more goods become available and as dealers grow cautious about their ability to make a profit at these price levels.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The diamond industry began the year in an upbeat mood after good holiday jewellery sales, Rapaport Group said in a release. That optimism was tempered toward the end of the month by rough price hikes, Covid-19\u2019s Omicron variant, stock-market volatility and geopolitical tensions, it noted. The RapNet Diamond Index (RAPI\u2122) for 1-carat polished diamonds rose&hellip;<\/p>\n","protected":false},"author":1,"featured_media":13699,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-13695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Rapaport Names Three Factors Driving Up Polished Prices - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/rapaport-names-three-factors-driving-up-polished-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rapaport Names Three Factors Driving Up Polished Prices - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"The diamond industry began the year in an upbeat mood after good holiday jewellery sales, Rapaport Group said in a release. That optimism was tempered toward the end of the month by rough price hikes, Covid-19\u2019s Omicron variant, stock-market volatility and geopolitical tensions, it noted. 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