Rapaport News:
- Diamond Trade Cautious at End of Year:
- The number of diamonds listed on RapNet fell by 8% during 2023, totaling 1.6 million on January 1, 2024.
- Some sightholders expect De Beers to reduce rough diamond prices in January to stimulate sales, which could have an immediate impact on polished prices.
- Manufacturers must carefully manage their purchases to avoid oversupply and ensure they match polished demand12.
- Mixed Trends in Diamond Prices:
- The “Rapaport US Diamond Protocol”, supported by over 1,500 members of the jewelry trade, is being presented to US government officials. The goal is to clarify rules related to diamond origin.
- Major trade bodies oppose G7 plans that would require shipping all rough diamonds through Belgium before they could enter G7 markets3.
- India’s Pause on Rough-Diamond Imports:
- The Indian diamond sector has recommended a two-month freeze on rough diamond imports, the most drastic emergency measure since the Covid-19 crisis.
- The pause will run from October 15 to December 15, as five leading trade organizations seek to balance supply and demand4.
Stay informed with Rapaport News for the latest developments in the dynamic world of diamonds and jewelry! 💎✨5.