Business Wire India is the only Indian news distribution platform to partner with ANI, PTI, IANS, and UNI Testimonials - Whenever we have something important to tell, Business Wire India is often our first point of call, Rajnish Wahi, Senior VP, Corporate Affairs & Communication, Snapdeal. I define Business Wire India as a facilitator for the communications industry, Sudeshna Das, Executive Director, ComConnect. Business Wire India is very good in terms of credible and authentic news distribution to media. It adds authenticity to all content, Arneeta Vasudeva, Vice President, Ogilvy. Business Wire India is the only Indian news distribution platform to partner with ANI, PTI, IANS, and UNI The BW India team is very professional and prompt, we have been working seamlessly with BW for many years now, Prathibha Nair, Assistant Manager - Corporate Communications, Wipro Limited. Businesswire helps us in securing coverage on prominent media outlets across US, Europe and India and the detailed tracking reports allow us to monitor our press release. All members of the servicing team are cooperative and efficient and they truly augment our outreach efforts, Aniruddha Basu, PR & Corporate Communications, L&T Technology Services

Diamond Market More Optimistic

  • Tuesday, December 3, 2019 5:14PM IST (11:44AM GMT)
RAPI for 0.30ct. Recovers
Mumbai, Maharashtra, India:  Sentiment in the diamond industry improved amid rising expectations for the holiday season. A rallying stock market fueled optimism as the Dow average climbed 3% in November, and anticipation of a US-China trade deal helped as well.
Polished prices firmed, supported by reduced supply and steady US and Chinese demand for RapSpec A3+ diamonds below 1 carat. The RapNet Diamond Index (RAPI) for 1-carat stones fell 0.5% during November, while RAPI for 0.30-carat improved significantly.
RapNet Diamond Index (RAPI™)
  November Year to date             Jan. 1 to Dec. 1                      Year on year         Dec. 1, 2018, to Dec. 1, 2019     
RAPI 0.30 ct. 5.3% -9.0% -12.6%
RAPI 0.50 ct. 1.6% -6.1% -7.6%
RAPI 1 ct. -0.5% -5.2% -6.3%
RAPI 3 ct. 0.2% -16.1% -17.9%
© Copyright 2019, Rapaport USA Inc.
Polished inventory declined, resulting in shortages of RapSpec A3+ diamonds. There remains a large volume of lower-quality goods, mainly brown, green and milky (BMG) and fluorescent stones. Since buyers are insisting on nonfluorescent or faint goods, diamonds with fluorescence are selling at deeper discounts. The November Rapaport Research Report highlights opportunities to market fluorescent diamonds, as consumers aren’t bothered by the issue even if the trade devalues these stones.   
Manufacturers reduced polished production in the third quarter and closed factories over Diwali, contributing to the inventory drop. Demand for 0.30- to 0.50-carat goods also picked up as jewelers in China prepared for the Chinese New Year. The number of 0.30-carat, D-H, IF-VS2, RapSpec A3+ diamonds on RapNet has declined by over 50% since its peak at the beginning of June.
Cutters are now raising production to compensate for shortages and for jewelers’ expected restocking orders after the season. Rough demand has improved, with De Beers’ 5% to 7% price cuts helping raise manufacturing profit margins.
The focus has shifted to retail. Initial reports of Thanksgiving weekend sales have been positive, particularly regarding online and mobile channels. Jewelers have taken a lot of goods on memo to diminish their inventory exposure. In this environment, dealers can add value by matching the right diamond with the right person at the right time, place and price.
To learn more about the market, subscribe to the Rapaport Research Report here.

Click here for Media Contact Details

Sherri Hendricks (US), Rapaport, media@diamonds.net, +1-702-893-9400

Alex Shine (International), Rapaport, media@diamonds.net, +1-718-878-5138

Prashant Bhojani (Mumbai), Rapaport, media@diamonds.net, +91-9769466855

Submit your press release

Copyright © 2020 Business Wire India. All Rights Reserved.