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<\/p>\nDiamond prices rose sharply at the beginning of April in response to announcements of new US import tariffs, and then stabilised later in the month when the US delayed the tariffs by 90 days, according to Rapaport Group.<\/p>\n
The RapNet Diamond Index (RAPI\u2122) for 1-carat goods edged up 0.7% during the month. The index for 0.30-carat diamonds continued to strengthen, rising 2.8% in April and 13.2% since the beginning of the year. The 0.50-carat RAPI increased 0.6%, while 3-carat stones saw a minor decline of 0.3%, Rapaport informed. VVS collection goods of 0.30 carats performed well due to increased Indian demand and a slight improvement in China.<\/p>\n
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The industry operated amid unprecedented uncertainty due to the continuing tariff negotiations between the US and India, respectively the world\u2019s largest diamond consuming and manufacturing countries. Trading slowed in centres outside the US However, business within the US was steady and prices rose, reflecting part of the expected tariff costs. The market is closely monitoring end-consumer reactions.<\/p>\n
US inventories are elevated, as American traders purchased goods before the tariffs\u2019 anticipated start date, and global trading centres \u2014 especially Indian exporters \u2014 shipped popular goods to the US Diamond imports to the US are now experiencing a slowdown. Elongated fancy shapes saw strong demand in April, both internationally and in the US<\/p>\n
Diamond and jewellery retailers are finishing preparations for Mother\u2019s Day on 11 May, one of the key US sales holidays. A survey by the National Retail Federation (NRF) projected that consumer spending on jewellery would be slightly lower than last year.<\/p>\n
The rough market was quieter than in March, which was a particularly active period. Anglo American predicts that its customers will remain cautious about buying rough amid the ongoing macroeconomic uncertainty and the impact of US tariffs. De Beers\u2019 sales slid 44% year on year in the first quarter to $520 million as slow demand and a buildup of polished inventory led the midstream to restock more slowly.<\/p>\n","protected":false},"excerpt":{"rendered":"
Diamond prices rose sharply at the beginning of April in response to announcements of new US import tariffs, and then stabilised later in the month when the US delayed the tariffs by 90 days, according to Rapaport Group. The RapNet Diamond Index (RAPI\u2122) for 1-carat goods edged up 0.7% during the month. The index for…<\/p>\n","protected":false},"author":1,"featured_media":31440,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-31439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n