IDEX Polished Price Index Shows Signs of Stabilizing

Demand remains weak, but natural diamonds are in relatively short supply, which is slowing the drop in prices.

Last week Debswana - the joint venture between De Beers and the Botswana government - announced rough sales were down by 52 per cent in the first three quarters of 2024.

India's polished exports were down by over 20 per cent in the six months from April to September and closures over Diwali will further squeeze supplies, with a knock-on effect on prices.

The Index has been declining every month of 2024. January and February saw the smallest drops - down 0.27 per cent and 0.30 per cent respectively.

But in spite of the ongoing issues of China (still no recovery) and lab growns (still increasing market share) sentiment does appear to be improving and the holiday period could feasibly push the IDEX Polished Price Index into growth during November.

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