Rapaport: Polished Diamond Prices Steady in April

Certified polished diamond prices remained stable throughout April, according to a statement from RapNet.

During the first four months of 2012, the RapNet Diamond Index (RAPI) for 1 ct. diamonds fell 2.9 percent, roughly the same level as last year. This April, the RAPI for 1 ct. diamonds remained relatively steady, falling 0.2 percent.

Trading remains weak due to India’s polished diamond import tax, which has reduced imports by 71 percent and exports by 42 percent. The increase of rough diamond prices has also affected trading.

Wholesalers and retailers continue to maintain low inventory levels and it is predicted that trading will remain conservative throughout the second quarter.