according to a press release Rapaport. At the same time, the current value of the index is almost similar to the corresponding indicator in September 2012 (126.33 points).
In general, prices for small diamonds in the third quarter continued to decline due to the complicated situation in India and China and despite the forecasts for the activation of diamond trade on the eve of the fourth quarter. The diamond turnover in India was limited due to the volatility of the rupee and the caution displayed by members of the domestic retail market.
"We observed a continuing trend towards a weakening of diamond prices in the third quarter, and in September, there was a slight improvement in the situation and price stabilization. Due to the limited liquidity and weak demand for diamonds, diamantaires refused the goods on De Beers sites and reduced their production capacities by 30-50%. In the fourth quarter, we expect a shortage of diamonds, as producers restrain production volumes in anticipation of falling commodity prices, which can provide a reasonable rate of return. Market participants remain cautious, while the Indian rupee exchange rate is starting to recover at a record low, and demand growth in China is projected to continue to slow. Steady demand for diamonds in the US provides stability in the market and leads to a deficit in some categories of goods.