Prices fell during February after what now appears to have been a false start to the recovery in December. Losses dominated among almost all sizes of goods, much as they did during January. Demand is slow and markets are quiet after the holiday season, Valentine’s Day and the Chinese New Year. Rough supply remains slow (De Beers sold just $370m in January). Miners say there will be a recovery, but warn it will be slow. Only this week the diamond technology company Sarine reported a $2.8m loss in 2023, compared with a $8.8m profit the previous year. That’s an important indicator of the overall state of the market. There is also ongoing uncertainty over the next phase of G7 sanctions. From today (1 March) suppliers will have to demonstrate that any diamond of 1.0-ct or more is not of Russia origin. On 1 September the threshold will drop to 0.50-cts.
Highlighted changes
Rounds
2.00-2.99 ct. E-H / VS1-2 -1-3%, K-L / VS1-SI2 +1.5-4%
3.00-3.99 ct. D-F / IF-VVS2 -1-4.5%, G-H / SI1-2 +1-2.5%
4.00-4.99 ct. D-F / IF-VS2 -1-4%, J-N / VVS1-VS1 +1-2.5%
Fancy Cuts
1.25-1.49 ct. E-I / IF-VVS2 -1-5.5%
3.00-3.99 ct. D-E / IF-VS1 -3.5-4%, H-K / VS2 +0.5-1.5%
5.00-5.99 ct. D-J / IF-VVS2 -0.5-4%
Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.
