May a Stable Month for the Diamond Market

Rapaport reported that the diamond market was stable in May as prices for some polished diamonds were supported by reduced supply.

As quoted in the market news:

The RapNet Diamond Index (RAPI™) for 1-carat laboratory-graded diamonds rose 0.3 percent during May. RAPI for 0.30-carat diamonds fell 1 percent and RAPI for 0.50-carat diamonds declined by 1.1 percent. RAPI for 3-carat diamonds increased 0.4 percent during the month (see Figure 1).

During the first five months of the year, RAPI for 1-carat diamonds increased 0.7 percent, but has declined by 13.6 percent from one year earlier on June 1.

Furthermore, the JCK Las Vegas show “met expectations and raised sentiment” despite “slightly disappointing” sales. Martin Rapaport, chairman of the Rapaport Group, commented:

The show met the low expectations of the trade and created a healthy positive mood even though sales were slow for many suppliers. The Antique show was very good to excellent with strong sales and traffic, and improving demand for branded estate jewelry. The JCK Luxury show was relatively weak with limited orders and fewer top buyers than last year. The Vegas shows improved trade confidence. The U.S. is the best market with stable and consistent demand.

Click here to read the full Rapaport report.