In September, the prices for diamonds fell, as manufacturers were under increased pressure due to a sharp shortage of cash, as well as due to accumulated large inventory, reports Rapaport in a press release published on Tuesday. From the US and China, there is a steady demand for diamonds, but those who buy them for production, face price-sensitive consumers, and in this regard require large discounts. The market of buyers prevails on the eve of the holiday shopping season against the backdrop of the continuing softening of prices.
The diamond index RapNet (RAPI ™), calculated for certified in the laboratory diamonds weighing one carat in September fell by one percent. RAPI for diamonds weighing 0.3 carats dropped by 1.5 percent, while RAPI for diamonds weighing 0.5 carats decreased by 0.1 percent. RAPI for diamonds weighing 3 carats in September decreased by 0.7 percent.
During the third quarter, the RAPI index decreased for diamonds of all sizes, including for stones from 0.3 carats to 0.49 carats, which in the past two years were in a strong position. Buyers switched to products of lower quality and larger diamonds in the weight range indicated in points (0.01 carats).