IDEX Polished Price Index: The Recovery Starts Here
December 05, 23
(IDEX Online) - After more than 18 months of relentless decline, the IDEX Polished Price Index finally showed its first increase with a hike of 1.06 per cent in November. The industry could be witnessing the first green shoots of recovery. The holiday season is driving an increase in consumer demand, which is pushing prices up prices at last.
India's voluntary ban on rough imports, an upstream squeeze, ongoing flexibility from miners and a pre-Diwali rush are also contributing to the long-awaited bounce. During the month 0.5-cts and 3.0-cts rose by 2.0 per cent and 1.6 per cent respectively, reversing a long trend of decline since March 2022 and indicating that prices may have reached their low point and be on the way up. November's rise follows a fall of 1.6 per cent in October, down from just over 3 per cent in September, which was the single biggest monthly drop of the current crisis.
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