In its September report, Rapaport noted that diamond prices were inconsistent across different categories during the month of August. According to the outlet, rough demand is steady, while polished inventory is still seeing sluggish demand.
Rapaport notes that diamond markets are conservative, with buyers selective and price-sensitive. However, steady rough demand is enabling mining companies to reduce inventory built up last year, with De Beers and ALROSA reporting strong earnings in the first half of 2016. That being said, rough demand is expected to slow in the coming months as polished inventories increase.
Rapaport adds that the trade is deeply concerned about weak diamond demand following this summer’s slow trading. As such, companies must invest heavily in marketing to boost consumer demand this holiday season.
The full report is available for purchase at store.rapaport.com/monthly-report.
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
