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Diamond market continues to stabilise in November: Rapaport

The diamond market continued to stabilise in November as holiday shopping began and lower rough supply reduced midstream inventories, according to a Rapaport press release. Prices of rounds increased across all major categories for the first time this year.

US dealers’ pre-holiday buying boosted the market. Retailers saw brisk sales over the Thanksgiving weekend. Diamond demand in mainland China remained slow. Hong Kong’s luxury market rebounded as tourists returned.

Rough trading was sluggish as manufacturers sought to reduce rough and polished inventories. India continued its two-month voluntary freeze on rough imports, which is scheduled to end on 15th December. Factories in Surat extended their Diwali vacations due to weak demand.

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