IDEX Polished Price Index: June Marks Steady Declines
According to the IDEX Polished Price Index, published by IDEX Online, June was again a month of decline in polished diamond prices, down 1.18% at the close of the month.
Long term, the Index dropped significantly since it peaked in March, posting an average value of 150.01 in June – down from 151.28 in May and 153.30 in April. According to IDEX Online, the “Index had been gradually declining since mid-2018 to a low point in April 2020, when the first lockdowns hit.”
Month-to-month diamond prices were down 0.8% in June, “indicating a slowdown in the slowdown.” Year-to-year polished diamond prices showed slower growth for a third consecutive month in June, at 17.5%. Polished month-on-month prices for all key sizes, except for 3-carat stone, fell during June. However, the analysis notes that June’s price drops “were less than May, and May’s were, in turn, less than April.”
To sum up, the IDEX Polished Price Index has declined gradually throughout June, “reflecting a slow but stable mood in the market.” Currently, the diamond industry “is still plagued by war in Ukraine, sanctions on Russia, US inflation – together with desperate shortages of rough in India and Covid lockdowns in China.”
Read the full analysis here