Polished diamond prices steady in February

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Rapaport says confidence in US and Far East is boosting demand.

Certified polished diamond prices held steady in February, continuing on from a stable January, with the US and the Far East markets helping to bolster demand.

According to a report from Rapaport, increasing consumer confidence in these markets spurred a "strong demand" for mid-quality VS to SI, triple EX diamonds last month.

The RapNet Diamond Index reported that the price of 1ct certified polished diamonds rose 0.2% in February, while list prices for 0.3ct diamonds were up 2.7%, spurred on by increasing Far East demand during Chinese New Year. Diamonds weighing ‎‎0.5ct were up 0.7% and 3ct diamonds fell 0.2%.

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According to a Rapaport report released this month, Steady Markets, Rough Anxieties, supply and demand of the polished diamond and retail jewellery markets are in balance while the recent surge in rough prices is said to be unsustainable.

Rapaport said that rough prices rose by about 4% in February with the price of large rough diamonds of 15cts or more up by more than 12%. The company said that the surge in rough prices is not being supported by polished demand.

A statement from Rapaport said: "Dealer expectations for a significant increase in polished prices to follow the recent rough hikes are premature. While the Hong Kong show is expected to exhibit pockets of strong demand for 0.30ct to 1ct, VS-SI, triple EX goods, and small-size princess cuts, there may not be sufficient broad-based demand to support the overall increases in rough prices."

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