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‘Robust’ diamond sales indicate ‘excellent’ market recovery

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All signs indicate that the diamond market is making a strong recovery according to research from Rapaport.

Polished prices are rising while inventory levels even rise at some stone sizes, the report showed.

Meanwhile, the RapNet Diamond Index (RAPI) for one-carat diamonds climbed 2.7% in June.

Steady demand, high rough costs and shortages at some sizes are behind the improving prices, Rapaport claimed, with both Alrosa and De Beers showing similar 5% price hikes in June for stones of more than one carat.

Rapaport group chairman, Martin Rapaport, commented: “We expect to see robust diamond and jewelry demand for the balance of 2021 and possibly well into 2022 depending on the level of US economic stimulus.

“Given the high percentage of US consumer goods coming from China, US stimulus is China stimulus.

“The short-term outlook — the one-year outlook — is very good to excellent.”

The report did, however, claim that some experts are concerned that the current trend for rising prices cannot be sustained throughout the rest of the summer.

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