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Diamond Update: Strongest Quarter For Trade Since 2011; Prices Edge Up April 09, 2014 (0 comments)
New York, NY—Rapaport’s RapNet Diamond Index (RAPI) for one-carat stones rose 2.3% in the first quarter of 2014, the strongest quarter for the trade since 2011. For the month of March, the RAPI for 1.0-ct. diamonds rose 0.8%; 0.30-ct. diamonds grew 3.8%; 0.50-ct. rose 2%; and 3.0-ct. increased 1.4%.
The Hong Kong show last month demonstrated steady Chinese demand for commercial-quality diamonds, while the recent Basel shows signaled robust demand for top-quality large diamonds, fancy colored diamonds, and fine-cut fancy shape diamonds.
The Rapaport Monthly Report for April 2014, titled A Good Quarter, notes that polished trading was steady throughout the first quarter driven by inventory replenishment throughout the pipeline. The market is expected to slow in the second quarter as wholesale and retail jewelers have replenished their inventories and may restrain their buying at current higher polished price points. Liquidity tightened as rough prices rose toward the end of March and banks are increasingly conservative in lending to the industry. While sentiment remains positive, diamond market growth is projected to stabilize in the coming months, after a relatively strong first quarter.
Click here to access the full report, or email specialreports@diamonds.net.