IDEX Price Report for 1 July: Rounds Down Again, Fancies Fare Better

July 01, 23 by IDEX Online

(IDEX Online) - Round prices maintained their long-term decline during June, but fancies fared significantly better, with price rises dominating in some sizes. Prices overall have been falling since hitting their peak last February.

Rounds are being badly hit by the global recession and an increasing price differential between lab growns and mined diamonds. Lab growns are becoming an increasingly attractive proposition for consumers and, as a consequence, for manufacturers.

Demand for lower-priced fancies is increasing at the expense of rounds. Manufacturers in India are chasing rough under 0.75-cts to keep their factories busy and avoid laying off workers, as they were forced to do during the Covid pandemic.

Signet, the largest jewelry retailer in the US, trimmed its full-year outlook last month by around seven per cent and announced plans to close around 150 of its 2,800 outlets as the "engagement gap" - a lockdown legacy - kicks in. De Beers' rough sales were down almost a third during its June cycle to $450m amid ongoing caution and poor sentiment.

Rounds

There were widespread losses, as there have been for many months now, although there were notable clusters of price rises in 3.00-cts to 5.99-cts. Among 1.50-cts to 2.99-cts prices fell in the majority of color/clarity categories with only occasional increases. Very little movement in goods under 0.49-cts.

Fancies

Fancy prices again fared significantly better than rounds, with price increases dominating in some sizes, notably 0.50-cts to 0.69-cts and 4.00-cts to 4.99-cts. Overall there was a far more even spilt between prices rises and drops than there were among rounds.

KEY CHANGES

Rounds

0.18-0.22 ct. D-G / SI3 -5-6%

0.23-0.29 ct. D-G / SI3 -4.5-5.5%

0.30-0.39 ct. D / SI1 +6%

0.40-0.44 ct. E-G / SI1 2.5-5.5%

0.45-0.49 ct. D-E / VVS1-VS1 -1.5-3.5%

0.50-0.69 ct. D-G / IF-VVS1 -1.5-3%

0.70-0.79 ct. E-H / IF-VVS1 +0.5-4%, I / IF-VS2 -1.5-2%

0.80-0.89 ct. D-E / IF-VVS1 -1-7%, D-F / VS2-SI1 -1-2.5%

0.90-0.99 ct. J-K / IF-VVS2 -2-3%

1.00-1.24 ct. D-G / VVS2-SI1 -1-5.5%

1.25-1.49 ct. D-H /IF-SI2 -1-5%

1.50-1.99 ct. D-I / VS1-I1 -0.5-5%

2.00-2.99 ct. I-K / IF-SI2 -1-4%

3.00-3.99 ct. D-G / VS1-SI2 -0.5-4%, I-N / VVS1-2 +1-3%

4.00-4.99 ct. D-F / SI1-I1 +1-4%, I-N / IF-VVS2 -1-4.5%

5.00-5.99 ct. H-I / IF-SI2 -0.5-4%, J-N / IF-VVS2 +1-4%

Fancy Cuts

0.18-0.22 ct. H-I / VS2 +7.5-8.5%

0.23-0.29 ct. E / SI1-2 +4.5-5%, G-I / SI2 -6-7%

0.30-0.39 ct. F-I / I3 +11-13%

0.40-0.44 ct. E-G / VS2 +2.5-4%

0.45-0.49 ct. D-G / IF-VVS2 +2-7.5%, J / IF-VS1 -3-6%

0.50-0.69 ct. D-G / VVS1-VS1 +1.5-5.5%

0.70-0.79 ct. F-G / IF-VS1 +1-2.5%, D-G / VS2-SI1 -1-3%

0.80-0.89 ct. D-F / IF-VS1 +1-3.5%

0.90-0.99 ct. D-F / VVS2-VS1 -2-6.5%

1.00-1.24 ct. D-F / IF +1-2.5%, D / VVS1-SI1 -1-2.5%

1.25-1.49 ct. D-E / IF-VVS1 -0.5-5%, H / IF-VS2 +1-2.5%

1.50-1.99 ct. G-J / SI1-2 -1-4.5%, G-H / VVS2-VS2 +2.5-3.5%

2.00-2.99 ct. E-F / SI3-I1 +1-3%, F-G / VVS2-VS1 -0.5-5.5%

3.00-3.99 ct. G-I / VS2-SI1 -0.5-3%, E / IF-VS1 +2.5-4%

4.00-4.99 ct. E-G / IF-VS2 -1-4%, L-N / IF-VS1 +1.5-4%

5.00-5.99 ct. F-G / SI1-3 +1-4%, I-K / SI2-3 +1-2.5%

Diamond Index

IDEX Price Report for 1 July: Rounds Down Again, Fancies Fare Better

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