IDEX Price Report for 1 August: Prices Still Dropping, but Larger Rounds Rally
August 01, 24(IDEX Online) - Prices dropped yet again during July as the global downturn showed no signs of improving. Chinese demand, in particular, remains muted. De Beers cut production by 15 per cent during Q2 in response to market conditions, India reported exports in June down 26 by per cent and increasing numbers of consumers are opting for lab grown over mined diamonds (almost half of all diamond engagement rings sold in the US are now lab grown).
Rounds: A similar picture to June, with a very marked division between goods under 2.0-cts and above. Smaller goods (under 0.49-cts) saw little activity. Losses were concentrated among better colors and clarities, typically H+ and VS2+, of 0.50-cts to 1.99-cts bread and butter goods. Larger goods saw a more even mix between gains and losses, and in the case of 5.00-cts to 5.99-cts, a significant majority of prices increased.
Highlighted changes
Rounds
1.00-1.24 ct. D-G / IF-VS2 -2-7%
1.50-1.99 ct. G-J / VVS1-SI1 -1-4.5%
5.00-5.99 ct. D-G / IF-VS2 +1-45%, D-G / SI2-I1 -1-4%
Fancy Cuts
0.23-0.29 ct. J / SI3-I1 -3.5-4.5%, M-N / IF-SI3 +8-20%
1.50-1.99 ct. E-I / IF-SI1 -1-5%
3.00-3.99 ct. F-H / VVS2-VS2 +3-5%
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