IDEX Price Report for 1 March: Uncertainty Pushes Round Prices Down, Fancies Up

(IDEX Online) - Rounds suffered yet another month of losses during February, as ongoing uncertainties drove demand for the less expensive fancy cuts. De Beers reported a 30 per cent drop in rough sales at its first cycle of 2023, amid reports that some prices were hiked by as much as 10 per cent. Manufacturing remains well below capacity in India. Consumer demand is still slow, although US inflation has dipped from its 9.1 per cent peak last June, and is currently 6.4 per cent. Caution persists over possible new sanctions against Russia. The G7 nations didn't include diamonds in a raft of measures to mark the first anniversary of the invasion of Ukraine on 24 February, but said they would "work collectively on further measures".

HIGHLIGHTED CHANGES 

Rounds

1.00-1.24 ct. D-J / VVS1-2 -1-3%

1.50-1.99 ct. D-K / VS2-SI3 -1-3%

5.00-5.99 ct. D-E / IF-VS1 -1.5-4%, J-M / VS2-SI1 +1-5% 

Fancy Cuts

0.0.70-0.79 ct. D / IF-SI1 +1-3%, G-H / IF-VVS2-SI2 +1-3.5%

2.00-2.99 ct. D-H / VS1-SI1 -1-3%, J / IF-S1 +1-4%

4.00-4.99 ct. D-E / IF-VS1 -2-3.5%, D-E / VS2-I1 +1.5-4%

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