{"id":25891,"date":"2024-05-08T10:54:14","date_gmt":"2024-05-08T05:24:14","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=25891"},"modified":"2024-05-08T10:54:14","modified_gmt":"2024-05-08T05:24:14","slug":"rapaport-prices-of-higher-clarity-diamonds-continue-to-fall","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/rapaport-prices-of-higher-clarity-diamonds-continue-to-fall\/","title":{"rendered":"Rapaport: Prices of Higher-Clarity Diamonds Continue to Fall"},"content":{"rendered":"

The diamond market slowed in April due to seasonal factors as well as weak US and Chinese demand. Prices of VS-plus goods fell, while SIs improved, continuing a trend that has been present since the start of the year, Rapaport said in a press release.<\/p>\n

BHP\u2019s $38.9 billion bid for Anglo American raised questions about the future of De Beers. Anglo is also reportedly trying to sell De Beers in a separate process that could lead to a restructuring of the diamond market. The company is under unprecedented pressure from synthetics, political challenges, and the drop in Chinese demand, it noted.<\/p>\n

Polished sales were slow in April. High inflation and interest rates impacted US spending. Chinese consumers preferred to invest in gold rather than diamonds, Rapaport informed.<\/p>\n

The RapNet Diamond Index (RAPI\u2122) for 1-carat goods \u2014 reflecting round, D to H, IF to VS2 diamonds \u2014 dropped 3.5% in April and almost 20% year on year. Prices for round, 1-carat, D to H, SI diamonds increased 1% in April.<\/p>\n\n\n\n\n\n\n\n\n
RapNet Diamond Index (RAPI\u2122<\/sup>)<\/strong><\/td>\n<\/tr>\n
<\/td>\nIndex<\/strong><\/td>\nApril<\/strong><\/td>\nYear to Date
\n<\/strong>Jan. 1, 2024, to May 1, 2024<\/td>\n		Year on Year
\n<\/strong>May 1, 2023, to May 1, 2024<\/td>\n<\/tr>\n
RAPI 0.30 ct.<\/td>\n1,340<\/td>\n-3.6%<\/td>\n-5.5%<\/td>\n-16.8%<\/td>\n<\/tr>\n
RAPI 0.50 ct.<\/td>\n2,041<\/td>\n-0.2%<\/td>\n3.1%<\/td>\n-20.7%<\/td>\n<\/tr>\n
RAPI 1 ct.<\/td>\n5,746<\/td>\n-3.5%<\/td>\n-3.9%<\/td>\n-19.7%<\/td>\n<\/tr>\n
RAPI 3 ct.<\/td>\n21,040<\/td>\n-2.5%<\/td>\n-4.5%<\/td>\n-12.5%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a9 Copyright 2024, Rapaport USA Inc.<\/em><\/p>\n

The rough market was sluggish due to the weakness in polished. Dealers struggled to make profits on most De Beers boxes on the secondary market. April rough sales at Botswana\u2019s state-owned Okavango Diamond Company fell 68% year on year to $34.6 million. De Beers reduced its 2024 production outlook by about 10%, forecasting output of 26 million to 29 million carats.<\/p>\n

Group of Seven (G7) sanctions on Russian diamonds impacted the market, Rapaport said, adding that Ari Epstein\u2019s resignation as CEO of the Antwerp World Diamond Centre (AWDC) reflected controversy over the implementation of European Union rules, which have caused delays at the city\u2019s customs office. Plans to make Antwerp the single inspection point for all diamonds entering G7 countries faced opposition from across the industry.<\/p>\n

The trade\u2019s focus shifted to the upcoming Las Vegas shows, with hopes they would kick-start the wholesale market ahead of the holiday season, it said.<\/p>\n","protected":false},"excerpt":{"rendered":"

The diamond market slowed in April due to seasonal factors as well as weak US and Chinese demand. Prices of VS-plus goods fell, while SIs improved, continuing a trend that has been present since the start of the year, Rapaport said in a press release. BHP\u2019s $38.9 billion bid for Anglo American raised questions about…<\/p>\n","protected":false},"author":1,"featured_media":25892,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-25891","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\nRapaport: Prices of Higher-Clarity Diamonds Continue to Fall - 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-prices-of-higher-clarity-diamonds-continue-to-fall\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rapaport: Prices of Higher-Clarity Diamonds Continue to Fall - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"The diamond market slowed in April due to seasonal factors as well as weak US and Chinese demand. 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