IDEX Price Report for 1 August: Yet Another Month of Decline for Rounds

(IDEX Online) - Yet another month of decline for rounds during July, and of mixed fortunes for fancies. Rounds saw wholesale losses in some sizes in most sizes above 0.80-cts, more so than in previous months.

India's polished exports slipped by almost a third in June, and half of all diamond workers there are reportedly on reduced wages. Manufacturers are switching to lower-priced fancies, or to ever-cheaper lab growns to maintain production.

Meanwhile, supplies of rough are slowing. In recent days, Canadian miner Mountain Province reported Q2 rough sales were down 40 per cent, and UK-based Petra said its FY2023 revenue had fallen by 44 per cent. 

De Beers announced a five per cent drop in its Q2 production as it switched to underground production at one of its South African mines, and a 19 per cent drop in Q2 sales volume.

All the main trading centers remain quiet, as buyers keep a lid on their inventories and wait for things to pick up. There are, however, few signs of an imminent end to the global recession, Ukraine war or sanctions anxiety.

HIGHLIGHTED CHANGES Rounds  

0.80-0.89 ct. D-F / VVS1-I1 -2-7%

1.50-1.99 ct. F-J / VIF-I1 -0.5-4%

2.00-2.99 ct. G-K / IF-SI1 -0.5-3.5%

Fancy Cuts

1.50-1.99 ct. F-J / SI1-3 -1.5-6.5%

3.00-3.99 ct. G-H / VVS1-VS2 -1.5-4%, F-G / SI2-3 +1-5%

4.00-4.99 ct. D-H / IF-SI1 -0.5-4.5%, F-H / SI2-I1 +1-7.5%

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