The latest Rapaport Monthly Report indicates low trading volume during the August vacation, “with steady manufacturing and sluggish demand as dealers prepare for the fourth-quarter holiday season”, according to a press release by Rapaport.
The RapNet Diamond Index (RAPI) for 1-carat diamonds fell 0.8% in August. RAPI for 0.30-carat was flat and RAPI for 0.50-carat rose 0.2%. RAPI for 3-carat increased 0.2%.
Rapaport estimates that rough demand will slow in the coming months as polished inventories increase, and claims that the trade is “deeply concerned about weak diamond demand following slow trading this summer. Large investments in marketing are required to boost consumer demand this holiday season. Attention will focus on Signet and De Beers branded campaigns, and the Diamond Producers Association’s generic campaign”.
