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Press Release: Diamond Prices Soften in Slow September Trading

October 5, 2021  |  Rapaport

RAPAPORT PRESS RELEASE, October 5, 2021, Las Vegas… The diamond market was relatively quiet in September as various Jewish and Indian festivals disrupted activity. Dealers remained optimistic for the US holiday season after positive trading at the Las Vegas shows in late August. China’s economic slowdown brought some caution into the market.

Polished prices softened for goods below 1 carat but firmed for diamonds above 1.50 carats. The RapNet Diamond Index (RAPI™) for 1-carat diamonds slid 0.5% during September.

RapNet Diamond Index (RAPI™)
September Year to date
Jan. 1 to Oct. 1
Year on year
Oct. 1, 2020, to Oct. 1, 2021
RAPI 0.30 ct. -1.9% -1.5% -6.1%
RAPI 0.50 ct. -0.9% -0.1% -2.4%
RAPI 1 ct. -0.5% 10.7% 14.9%
RAPI 3 ct. 0.2% 7.0% 14.5%

© Copyright 2021 by Rapaport USA Inc.

Categories below 1 carat weakened as inventory levels increased. A record volume of 0.30- to 0.50-carat diamonds is currently available. Total listings for all sizes on RapNet exceeded 1.7 million unique stones on October 1, up 5% from September 1 and 43% from a year earlier.

Diamond manufacturers have gradually raised capacity following strong rough buying in the first half of the year. High polished output is anticipated in the coming month; suppliers are filling US holiday orders before factories close for the two-week Diwali break beginning November 4.

A lot of goods remain in the pipeline. The Gemological Institute of America (GIA) continues to report a six-week backlog at its Mumbai lab. Rough demand was robust during the De Beers sight that took place from October 4 to 8, and prices were stable. Rough supply is low relative to prevailing demand. Cutters are concerned about profit margins, particularly for rough that yields polished below 1 carat.

Steady US orders are supporting the market. Consumer confidence has dipped slightly as Covid-19 relief money has dried up and due to concerns about inflation and labor shortages. However, jewelers are enjoying a banner year. They have positive expectations for the holiday season, especially since engagement-ring sales typically peak in November to December. There is pent-up demand for weddings after the postponements that resulted from the pandemic, as noted in the October bridal issue of Rapaport Magazine.

Rapaport Media Contacts: [email protected]
US: Sherri Hendricks +1-702-893-9400
International: Alex Shine +1-718-878-5138
Mumbai: Prashant Bhojani +91-97694-66855

About the Rapaport Research Report: The Rapaport Research Report provides subscribers with in-depth analysis of key themes affecting the diamond market. It also presents exclusive data and analytics for diamond prices in a variety of categories, based on inventory data from RapNet®.

About the RapNet Diamond Index (RAPI™): The RAPI is the average asking price in hundred $/ct. of the 10% best-priced diamonds, for each of the top 25 quality round diamonds (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better) offered for sale on RapNet® ( Additional information is available at

About the Rapaport Group: The Rapaport Group is an international network of companies providing added-value services that support the development of ethical, transparent, competitive and efficient diamond and jewelry markets. Established in 1976, the group has more than 20,000 clients in over 121 countries. Group activities include Rapaport Information Services, providing the Rapaport benchmark Price List for diamonds, as well as research, analysis and news; RapNet, the world’s largest diamond trading network; Rapaport Laboratory Services, providing Rapaport gemological services in India and Israel; and Rapaport Trading and Auction Services, the world’s largest recycler of diamonds, selling over 400,000 carats of diamonds a year. Additional information is available at

Image: Polished diamond in tweezers at Almod Diamonds’ cutting and polishing factory. (De Beers)


Press Release: Diamond Prices Soften in Slow September Trading

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