Diamond prices rise in April amid tariff uncertainty
The 0.50-carat RAPI also increased 0.6%, while 3-carat stones saw a minor decline of 0.3%. Additionally, VVS collection goods of 0.30 carats performed well due to increased Indian demand and a slight improvement in China
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Diamond prices rose sharply at the beginning of April in response to announcements of new U.S. import tariffs, and then stabilised later in the month when the U.S. delayed their implementation by 90 days, according to Rapaport’s RapNet Diamond Index.
It comes as the RapNet Diamond Index (RAPI) for 1-carat goods edged up 0.7% during the month. Meanwhile, the index for 0.30-carat diamonds continued to strengthen, rising 2.8% in April and 13.2% since the beginning of the year.
The 0.50-carat RAPI also increased 0.6%, while 3-carat stones saw a minor decline of 0.3%. Additionally, VVS collection goods of 0.30 carats performed well due to increased Indian demand and a slight improvement in China.
Overall, the industry operated amid “unprecedented uncertainty” due to the continuing tariff negotiations between the U.S. and India, respectively the world’s largest diamond-consuming and -manufacturing countries.
Trading slowed in centres outside the US However, business within the U.S. was steady and prices rose, reflecting part of the expected tariff costs. According to the report, the market is closely monitoring end-consumer reactions.
U.S. inventories are said to be elevated, as American traders purchased goods before the tariffs’ anticipated start date, and global trading centers — especially Indian exporters — shipped popular goods to the U.S.
Lastly, the report revealed that the rough market was quieter than in March, which was a particularly active period.
