A report published by Rapaport this week reveals that polished-diamond prices declined in April with 1-carat diamonds sliding 1% year-to-date and 3-carat diamonds falling by 6.1% year-to-date.<\/p>\n
Right behind 3-carat diamonds, the price of 0.30-carat diamonds fell by 5.9% year-to-date, while 0.50-carat diamond prices dropped by 1.2% year-to-date.<\/p>\n
According to Rapaport, the fall is caused by continued oversupply and selective Far East demand.<\/p>\n
\u201cLarge inventories of lower-quality old goods are available, and suppliers are willing to discount them to raise cash. Liquidity is tight, as Indian credit lines declined after the March 31 fiscal year-end. Manufacturers reduced rough purchases in the first quarter, hoping to ease liquidity concerns by depleting polished stock,\u201d the report states.<\/p>\n
But manufacturers’ strategy may not be working as supply of polished gems continues to rise. Rapaport says the volume of diamonds listed on RapNet as of May 1 was up 7% since the beginning of the year, coming to 1.6 million stones valued at $8.23 billion.<\/p>\n Demand, on the other hand, seems to be down almost everywhere. The international firm\u2019s document mentions that combined rough sales by De Beers and Alrosa dropped 19% by volume and an estimated 30% by value in the first quarter.<\/p>\n \u201cMining companies are planning to reduce supply, with global production down approximately 6% during the period.\u201d<\/p>\n Rapaport\u2019s analysis is based on the RapNet Diamond Index (RAPI), which is the average asking price in hundred $\/carat of the 10% best-priced diamonds, for each of the top 25 quality round diamonds offered for sale on the Rapaport Diamond Trading Network.<\/p>\n The post Polished diamond prices drop in April – Report<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" According to Rapaport, the price of 1-carat diamonds slid by 1% year-to-date and the price of 3-carat diamonds fell by 6.1% year-to-date.<\/p>\n The post Polished diamond prices drop in April – Report<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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is down everywhere but in the US, where purchases of 1.00 to 1.50-carat diamonds remain steady ahead of the summer wedding season.<\/q><\/p>\n