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RAPAPORT ® TRADEWIRE ®
April 10, 2025
Rapaport Market Comment - April 10, 2025

Market facing historic uncertainty as US implements 10% tariffs and postpones higher rates by 90 days. China hit with 125% duty. Trading frozen amid concerns about impact on consumer demand and pricing. Companies sent diamonds to US before Apr. 9 in expectation of 26% tariff on Indian goods, which did not go into effect. US inventory gained value. Signet not allowing price changes for confirmed orders. GIA stops accepting goods that need to be shipped to US labs, expands Hong Kong and Dubai services. Petra postpones Cullinan tender. EU omits diamonds from reciprocal tariffs. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON APR. 18 DUE TO THE JEWISH HOLIDAY OF PASSOVER.

 

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct 0.73% 6.41% -15.58%
0.50 ct 0.43% 2.51% -15.92%
1.00 ct 0.03% 1.29% -23.05%
3.00 ct 0.88% 1.04% -14.83%
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Market Reports
United States: US inventory gaining value, as it is tariff-free, but industry expects shortages as goods dry up in coming months…
United States: US inventory gaining value, as it is tariff-free, but industry expects shortages as goods dry up in coming months…
Belgium: Rough sector uncertain due to questions over polished demand…
Belgium: Rough sector uncertain due to questions over polished demand…
Israel: New 10% import duties make business hard for dealers who travel frequently to and from US to sell…
Israel: New 10% import duties make business hard for dealers who travel frequently to and from US to sell…
India: Indian domestic market gaining importance but seasonally slower due to end of wedding period…
India: Indian domestic market gaining importance but seasonally slower due to end of wedding period…
Hong Kong: Mainland slow amid soaring gold prices and low appetite for diamonds…
Hong Kong: Mainland slow amid soaring gold prices and low appetite for diamonds…
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Diamond Sales at ‘Standstill’ as Market Reacts to Tariffs
By Joshua Freedman

Manufacturers shift inventory to US; prices see small rise.

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Latest Rapaport Magazine Issue Delves into Innovation
By Rachael Taylor

AI advancements, new jewelry-making tech, and ways to push retail forward are just some of the topics in this edition’s offerings.

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Majority of countries will remain at 10% over next three months.
Trump Announces 90-Day Pause on Most Tariffs, Ups China Tax
Majority of countries will remain at 10% over next three months.
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Including them in countermeasure package would “cause significant harm” to Belgian industry, according to AWDC.
EU Will Not Impose Import Tariffs on US Diamonds
Including them in countermeasure package would “cause significant harm” to Belgian industry, according to AWDC.
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Clients that send goods to American labs are responsible for paying any tariffs, institute says.
GIA Declines Items from Abroad That Require Shipping to US
Clients that send goods to American labs are responsible for paying any tariffs, institute says.
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Hong Kong and Dubai locations are now allowing rough and polished above 3.99 carats.
GIA Expands International Lab Services in Response to Tariffs
Hong Kong and Dubai locations are now allowing rough and polished above 3.99 carats.
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Jeweler won’t accept cost changes to either in-progress or confirmed future purchase orders.
Signet Expects Its Vendors to Stand By Agreed Pricing Despite Tariffs
Jeweler won’t accept cost changes to either in-progress or confirmed future purchase orders.
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Ramat Gan bourse cites global trade body’s “recent actions.”
Israel Diamond Exchange Quits WFDB Amid Tariff Row
Ramat Gan bourse cites global trade body’s “recent actions.”
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Company will create its own advertising and match contributions from countries.
De Beers to Shell Out Decade-High Funding on Natural-Diamond Marketing
Company will create its own advertising and match contributions from countries.
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Prices from goods at company’s other sites up 9% over previous sale.
Petra Postpones Cullinan Rough Tender Amid Tariff Threat
Prices from goods at company’s other sites up 9% over previous sale.
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Solitaire diamond segment also saw a turnaround during fourth quarter.
Titan Ends Year with ‘Robust’ Growth Amid Increased Gold Prices
Solitaire diamond segment also saw a turnaround during fourth quarter.
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Fancy-vivid-yellow stone, called New Sun, is over 100 carats after manufacturing.
Alrosa Debuts Polished from Russia’s Largest Colored Diamond
Fancy-vivid-yellow stone, called New Sun, is over 100 carats after manufacturing.
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