For the first quarter of 2014, the index of prices for small diamonds (Rapaport Melee Index, RMI) increased by 5.4% to 137.60 points, according to a press release Rapaport. At the same time, the current value of the index is 1.9% higher than the corresponding indicator in March 2013 (135 points).
The first quarter was very positive for the diamond market, and prices for diamonds were strengthened over this period.
Demand for diamonds was stimulated by jewelers who replenished their reserves after the celebration of the Chinese New Year. March Hong Kong Jewelry Fair has demonstrated a steady demand from the Far Eastern markets and the return of Indian buyers. It is expected that in the second quarter trading activity will stabilize, as wholesale and retail jewelry companies have already replenished their inventory and will refrain from further purchases in conditions of fairly high current prices.
Nevertheless, the mood in the market remains positive.
"In the first quarter, we saw an increase in trade between dealers and improved market liquidity, as dealers were eager to make purchases, despite the continuing rise in prices. Over the past few weeks, prices have stabilized, and we expect that they will be stable throughout the second quarter. Over the reporting period, Rapaport Diamond Auctions sold over 125,000 carats of diamonds worth $ 27.4 million, "said Ezi Rapaport, director of international operations for the Rapaport Group.