The recent IDEX polished diamond price index, published by IDEX Online, was flat in April, continuing the trend during March and following small increases in January and February. According to IDEX Online, the index began the month at 123.22 and ended at 123.32.
During April, trading was “generally quiet” due to the Passover and Easter holidays. A rise in rough polished prices harmed profit margins, but “polished dealers generally across the diamond markets have been standing firm on prices, knowing that they will be paying higher prices for goods to be bought for processing”.
In India, financing of the diamond sector “remains fragile in the wake of the Nirav Modi bank fraud case”, while in the US “there is healthy restocking on the back of sold orders in the United States and China”. Additionally, De Beers and Alrosa have reported “ongoing robust sales at their latest sights in April”.
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