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Prices of Higher-Clarity Diamonds Continue to Fall: RAPAPORT

The diamond market slowed in April due to seasonal factors as well as weak US and Chinese demand. Prices of VS-plus goods fell, while SIs improved, continuing a trend that has been present since the start of the year.

BHP’s $38.9 billion bid for Anglo American raised questions about the future of De Beers. Anglo is also reportedly trying to sell De Beers in a separate process that could lead to a restructuring of the diamond market. The company is under unprecedented pressure from synthetics, political challenges, and the drop in Chinese demand.

Polished sales were slow in April. High inflation and interest rates impacted US spending. Chinese consumers preferred to invest in gold rather than diamonds.

The RapNet Diamond Index (RAPI™) for 1-carat goods — reflecting round, D to H, IF to VS2 diamonds — dropped 3.5% in April and almost 20% year on year. Prices for round, 1-carat, D to H, SI diamonds increased 1% in April.

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