IDEX Price Report for 1 September: Rounds Fare Far Worse Than Fancies

(IDEX Online) - The gap between rounds and fancies widened during August. Rounds saw almost wall-to-wall price drops among some goods, such as 1.50-cts to 1.99-cts. Fancies, by contrast, saw a mix of increases, decreases and no-changes, as buyers sought cheaper goods.

Caution persists across the pipeline. Inventories are high, demand is weak and prices are falling. India's exports in July suffered a 39 per cent slump, year-on-year. Israel's rough trade was down by around 45 per cent for the same month. China's post-Covid bounce back hasn't happened.

Sarine, the diamond tech company and a barometer of activity in the trade, reported a first half revenue drop of 24 per cent drop, saying inflation and interest rates continued to take their toll on the US market.

And the race to the bottom accelerates among lab growns. One US jeweler is literally giving away lab growns - no purchase required - to make a point.

Rounds  

There was hardly any movement in prices below 0.40-cts. In 0.50-cts to 0.90-cts, there were clear decreases, primarily among commercial goods, J+ / SI+. Lower colors and clarities didn't suffer additional losses, though there were no rises there either There were some clusters of increases in 4.00-cts to 5.99-cts goods. 

Fancies 

A far more mixed picture among rounds, with less movement overall, many more increases, and fewer clear trends. The most notable clusters of prices rises were among 4.00-cts to 5.99-cts goods. As with rounds, the largest concentration of price drops was among 1.50-cts to 1.99-cts.

KEY CHANGES

Rounds

0.18-0.22 ct. E-G / VS2 -3.5-4%

0.23-0.29 ct. G-H / I1-2 -6-7.5%, N / VVS1-VS2 +7-9%

0.30-0.39 ct. D / IF-VVS1 -5.5-6%

0.40-0.44 ct. D-G / IF-VVS1 -2-5.5%

0.45-0.49 ct. D-G / IF-VVS2 -1.5-7%

0.50-0.69 ct. D-G / IF-VS2 -1.5-5%

0.70-0.79 ct. F-I / IF-VS1 -1.5-4%

0.80-0.89 ct. D-F / VVS1-SI1 -1.5-5%

0.90-0.99 ct. D-H / IF-VS2 -1.5-6%

1.00-1.24 ct. D-I / VVS1-VS2 -2-5.5%

1.25-1.49 ct. E-I / VVS1-SI1 -1-5.5%

1.50-1.99 ct. E-J / IF-SI3 -1-5%

2.00-2.99 ct. E-I / VS1-SI3 -1-4.5%

3.00-3.99 ct. D-H / VVS1-2 -1-4.5%, F-H / I1 +1-1.5% 

4.00-4.99 ct. F-I / VS1-SI2 -0.5-4.5%, I-N / IF-VVS2 +1-2% 

5.00-5.99 ct. J-M / IF-VVS2 -1.5-4.5%, I / IF-VS2 +2-2.5% 

Fancy Cuts

0.18-0.22 ct. E-F / VVS2-VS1 +4-5.5%

0.23-0.29 ct. F-G / VS2 4-7.5%

0.30-0.39 ct. J / VV2-SI2 -5-6%

0.40-0.44 ct. KI / SI2-I2 +6-11%

0.45-0.49 ct. F-G / IF-VVS1 +1.5-3.5%

0.50-0.69 ct. E-F / VVS2 +1.5%, E-F / VS2 -1.5%

0.70-0.79 ct. D-F / VS2-SI1 -1-3%

0.80-0.89 ct. D / VVS1-VS2 +1-1.5%, D-G / SI1 -1-6%

0.90-0.99 ct. G-H / IF-VVS2 +4%

1.00-1.24 ct. D-J / SI1 -2-4%

1.25-1.49 ct. G / VS1-SI2 -1-3.5%

1.50-1.99 ct. E-J / SI1-2 -1.5-3.5%

2.00-2.99 ct. D-E / VVS2-SI1 +1.5-5%

3.00-3.99 ct. G-H / VVS1-SI1 -1-3.5%, J-K / IF-VVS1 +0.5-3%

4.00-4.99 ct. J-M / VVS1-2 +1-3.5%, E-H / IF-VVS1 -0.5-4%

5.00-5.99 ct. D-M / IF +0.5-4%, E-G / VS1-2 -1-3.5%