Scarcities, holidays and Chinese demand supporting prices with 0.30ct. RAPI +3%
(NEW YORK) - Polished diamond prices firmed in November supported by shortages of select categories and seasonal holiday demand. Trading improved with dealers focused on filling U.S. holiday orders, but old challenges remain: Manufacturing is unprofitable at current rough price levels and the diamond distribution chain is overstocked, despite some scarcities. The RapNet Diamond Index (RAPI™) for 1-carat, GIA-graded diamonds rose 0.7 percent in November, its first increase in six months. RAPI for 0.30-carat diamonds advanced 3.3 percent and RAPI for 0.50-carat diamonds grew 1.1 percent. RAPI for 3-carat diamonds fell 0.6 percent. RAPI for 1-carat diamonds remains down 7.1 percent since the beginning of the year.