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<\/p>\nThe diamond market continued to operate under uncertainty in May. The postponement of higher tariffs, and the accompanying dialogue between the US and India, brought some relief to a market that no longer anticipates a 26% duty on polished, Rapaport Group said in a statement.<\/p>\n
A US federal court ruled on 28 May that President Donald Trump lacked authority to impose tariffs unilaterally. The levies remain in place while the administration appeals.<\/p>\n
Dealers that raised prices in early April adjusted them downward. US consumer demand remained steady \u2014 a bright spot for the industry as it heads into the JCK Las Vegas show.<\/p>\n
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The RapNet Diamond Index (RAPI\u2122) for 1-carat stones \u2014 reflecting round, D to H, IF to VS2 diamonds \u2014 was flat during May. The index for 0.30- and 3-carat goods rose 0.4% and 0.6% respectively; the 0.50-carat RAPI fell 0.7%.<\/p>\n
Prices of round, 0.50- to 0.70-carat, SI diamonds softened, partly because of the tariff policy readjustment and the desire to complete sales before the July summer vacation.<\/p>\n
In late March and early April, the trade exported unusually large quantities of goods to the US to avoid tariffs. This created supply-demand imbalances, including a surplus of less-desirable goods, Rapaport explained. Sought-after diamonds remained scarce and costly to import because of the 10% duty.<\/p>\n
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Preparations for JCK are at their peak. Dealers expect a reasonable show, with fewer international participants due to the tariffs, it noted. The industry is waiting to see how Trump\u2019s policy will affect demand.<\/p>\n
The GemGen\u00e8ve show \u2014 which ended 11 May\u2014 was good, though not excellent, with strong demand for diamonds over 5 carats. It was a positive indicator for high-end items and branded companies.<\/p>\n
A report claimed De Beers had sold cut-price rough to certain clients through special deals, creating waves in the industry. De Beers also announced the closure of its Lightbox venture for synthetic diamonds.<\/p>\n
The GIA is updating its synthetic-diamond reports, using broader grading terminology that excludes colour and clarity.<\/p>\n","protected":false},"excerpt":{"rendered":"
The diamond market continued to operate under uncertainty in May. The postponement of higher tariffs, and the accompanying dialogue between the US and India, brought some relief to a market that no longer anticipates a 26% duty on polished, Rapaport Group said in a statement. A US federal court ruled on 28 May that President…<\/p>\n","protected":false},"author":1,"featured_media":31924,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-31923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n