The Slide Continues for IDEX Polished Price Index in December
January 05, 26
(IDEX Online) - The IDEX Polished Price Index kept sliding during December, although the fall was slightly less than the previous month.
The Index was down 1.35 per cent, compared to -1.72 per cent in November.
The December decline largely reflects continued soft demand for mid- to lower-quality natural diamonds, cautious buying and inventory management by the trade, and competitive pressure from lab growns, rather than any single shock event such as US tariffs.
The industry is grappling with what many in the midstream describe as a "long, controlled landing" rather than a crash, as manufacturers and dealers adjust to a structural shift in demand.
During 2025 the Index lost 10.9 per cent of its value compared to the previous year. That's a significant drop, but it's less than 2024, when it lost 13.7 per cent, or 2023 when it suffered a 17.9 per cent plunge.
The Index has been in almost constant decline since its March 2022 peak, with the exception of three brief tariff-prompted surges between June and September of last year.
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