IDEX Price Report for 1 December: Prices Finally Turning a Corner

(IDEX Online) - Prices appear, finally, to be turning a corner, largely in response to a squeeze on supplies. An increase in demand as we enter the holiday season is having some effect, but the primary reason is the relative scarcity of rough. De Beers is reckoned to have sold no more than $130m at its November sight (average per 2023 sight was over $360m) and Alrosa, the sanctioned Russia miner, is cutting production and offloading goods to the government's Gokhran. India's polished exports remain depressed (down 23 per cent in September) with many diamond units yet to return from a Diwali break that's been extended from two weeks to a month. 

Rounds

There are swathes of green (price increases), the like of which we have not seen for many, many months. They're most notable among 4.00-cts to 5.99-cts goods, but there are also encouraging signs among 1.00-cts to 1.99-cts and, to a lesser extent, 2.50-cts to 2.99-cts.  Among smaller goods, there are still price drops, but not on the scale we have seen of late. Many of the price drops were among L-N color 0.18-cts to 0.22-cts. Increases far outweighed decreases among 1.50-cts to 2.99-cts.

Fancies

Fancies fared less well than rounds, but still showed marked signs of recovery. Among goods of almost all sizes (0.18-cts to 5.99-cts) there was either an even mix of price increases and decreases or, as with 1.50-cts to 1.99-cts, the increases dominated.

Rounds

0.18-0.22 ct. L-N / VVS2-SI1 -7-14%

0.23-0.29 ct. H-I / IF-VVS1 -3.5%

0.30-0.39 ct. M-N / I1 -8.5-11%

0.40-0.44 ct. D-E / SI3 -3%

0.45-0.49 ct. D-E / VVS2 -2%

0.50-0.69 ct. D-F / VVS2-VS1 -2-3.5%

0.70-0.79 ct. D-E / IF-VS1 -1.5-5%

0.80-0.89 ct. D-E / VVS1-VS1 -1.5-3.5%

0.90-0.99 ct. E-F / IF-VVS1 +1.5%

1.00-1.24 ct. D / IF-VVS1 +2-3%

1.25-1.49 ct. E / VVS2-VS2 +1-3%

1.50-1.99 ct. I / VVS1-SI1 +1.5-3%

2.00-2.99 ct. D-I / VVS1-VS2 +1-4%

3.00-3.99 ct. G-I / Si2-3 +1-3%, K / VVS1-VS2 -1-2%

4.00-4.99 ct. D-G / IF-VS1 +1.5-4.5%, K-N / IF-VS1 +1-3.5%

5.00-5.99 ct. D-G / IF-VS1 +1-3%, K-N / VVS1-VS1 +1-5.5%

Fancy Cuts

0.18-0.22 ct. H-I / VS2-SI1 +7-9%

0.23-0.29 ct. D-H / I1 -6.5-9%

0.30-0.39 ct. I-M / IF +3.5-6%

0.40-0.44 ct. K-L / SI3 +8-9%

0.45-0.49 ct. E-F / IF -2%

0.50-0.69 ct. M / IF-VVS1 +3.5-4%

0.70-0.79 ct. G-H / IF-VVS1 +1.5%, I / IF-VS1 -2-3.5%

0.80-0.89 ct. D-E / IF-VS1 -1-3%

0.90-0.99 ct. D-F / IF -1-3%, K-M / I2 +12.5-14% 

1.00-1.24 ct. D-E / IF +1-2%, F-G / IF -1-1.5%

1.25-1.49 ct. D-G / IF -1-2.5%, F / VS1-SI1 +1.5-2%

1.50-1.99 ct. H-I / VVS2-VS1 +1-2.5%

2.00-2.99 ct. D-F / IF-VVS2 -1-4%, E-G / VS1 +1-3%

3.00-3.99 ct. J / IF-VS1 -1.5-2.5%, G / VS1-2 +0.5-2.5%

4.00-4.99 ct. F-G / VVS2-VS1 +1%, J / IF-VS2 -1-2%

5.00-5.99 ct. E-H / SI3-I1 -2-3%, D-G / IF +2-4.5%