IDEX Price Report for 1 November: Rounds Suffer Wholesale Losses

(IDEX Online) - There were swathes of price drops during October, especially among rounds. Indian manufacturers are being urged to support a voluntary ban on rough purchases (15 October to 15 December). Alrosa halted all rough sales during September and October, and Okavango, Botswana's state-owned diamond company, announced last week that it was doing likewise, cancelling its November auction, and possibly its December auction as well. 

De Beers rough sales slumped to just $200m during October (cycle 8), the second lowest figure since it started reporting Sight totals in 2016. The company has cancelled its online rough auctions, which account for around 10 per cent of its sales, for the rest of the year.

Meanwhile, the G7 nations appear poised to announce sanctions on Russian diamonds any day now. Lab growns are gaining approval well beyond budget buyers, with Prada, Fred and TAG Heuer all now incorporating them into their pieces. War rages on in Ukraine, and for the last three weeks we have also had the Israel-Gaza war.

Rounds  

There were many losses, especially in 1.50-cts to 4.99-cts goods, but fewer than during October. Generally there were very few price gains, but there was less price movement in goods under 0.50-cts than we have seen of late. Among 0.40-cts to 1.49-cts the price drops were mostly among better colors and clarities, I+ and VS2+. There were occasional price rises among 5.00-cts to 5.99-cts and 0.18-cts to 0.29-cts.

Fancies 

There was markedly less activity overall among fancies, and a bigger proportion of price rises. Increases outweighed decreases among 2.00-cts to 5.99-cts. Among smaller sizes there were near-even mixes of price rises and drops. Very little activity in goods under 0.40-cts. 

Rounds

0.18-0.22 ct. G-I / VVS2-VS1 -3.5-7.5%, M / IF-SI3 -6-11%

0.23-0.29 ct. M / IF-SI3 -5.5-9%

0.30-0.39 ct. D / IF-VVS1 -6-6.5%

0.40-0.44 ct. D-F / IF-VVS1 -3.5-6.5%

0.45-0.49 ct. D-G / IF-VVS2 -3.5-6.5%

0.50-0.69 ct. D-G / IF-VVS2 -3-5%

0.70-0.79 ct. D-G / IF-VS2 -2.5-5%

0.80-0.89 ct. D-G / IF-SI1 -1-5.5%

0.90-0.99 ct. D-F / IF-VS1 -2.5-5%

1.00-1.24 ct. D-I / IF-VS2 -1.5-5.5%

1.25-1.49 ct. E-I / IF-VVS1 -1-6%

1.50-1.99 ct. F-I / IF-SI3 -0.5-5%

2.00-2.99 ct. D-L / VVS1-SI3 -1-6%

3.00-3.99 ct. E-H / VVS2-SI1 -1-4%

4.00-4.99 ct. D-F / IF-VVS2 -1-4%

5.00-5.99 ct. F-H / IF-VVS1 +1-4% D-E / IF-VVS2-VS2 -2-4%

Fancy Cuts

0.18-0.22 ct. E / VS2 +5%

0.23-0.29 ct. J / IF-VVS1 -4.5%

0.30-0.39 ct. L / IF-VVS1 +5.5%, G-I / I1 -6.5%

0.40-0.44 ct. L / IF-SI2 -4.5-12%

0.45-0.49 ct. D-F / IF-VVS2 -1.5-5.5%

0.50-0.69 ct. F-G / IF-VS1 -1.5-4%, L / VS1-SI2 +4.5-5%

0.70-0.79 ct. D-F / VVS2-SI1 -1.5-3%, D-F / IF +1-2%

0.80-0.89 ct. D-I / VS2 -1.5-2.5%

0.90-0.99 ct. D-E / VVS2-SI1 -1.5-4%

1.00-1.24 ct. D-I / IF-VVS1 -1-3.5%

1.25-1.49 ct. D-F / VVS1 -2-3%, F-G / VVS2 +1%

1.50-1.99 ct. G-J / VS1-SI2 -1.5-4%

2.00-2.99 ct. D-E / VVS1-2 -1-4.5%, D-F / VS1-2 +1.5-4%

3.00-3.99 ct. F / VVS1-VS1 +0.5-4%, D / IF-VVS1 -1-3%

4.00-4.99 ct. E-G / VVS1-VS1 +0.5-4%, F-I / VS2 -1-2.5%

5.00-5.99 ct. E-F / VVS1-2 -1-4%, I-J / IF-VVS2 +1.5-3%