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Rapaport
The RapNet Diamond Index (RAPI™) is being revised due to elimination of diamond listings from China. These diamonds have been listed at low prices, with sellers demanding extra fees related to currency conversion. This week’s technical increase in RAPI indices does not reflect any sudden change in market conditions or prices.
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The RapNet Diamond Index (RAPI™) is being revised due to elimination of diamond listings from China. These diamonds have been listed at low prices, with sellers demanding extra fees related to currency conversion. This week’s technical increase in RAPI indices does not reflect any sudden change in market conditions or prices.
Market Comment - Sep. 05, 2024
Martin Rapaport to present webinar “What Will Happen to Natural Diamond Prices” on Sep. 18. at 10 a.m. EDT. Register here.
Manufacturers reducing production and inventories, which will help stabilize market prices as US holiday season develops. India must maintain reduced supply to prevent price deterioration as synthetics replace US natural-diamond demand.
US retail mixed, with stores and dealers buying selectively. Indian domestic market stable, with Diwali and wedding season looking positive.
Low expectations for Sep. HK show amid weak China demand. Chow Sang Sang reports 1H sales -13% YOY to $1.5B, profit -37% to $67M, and launches HK pop-up store for synthetics brand.