IDEX: Price Report for February Indicates Price Drop in Rounds

Round prices fell yet again during January amid continued hesitancy in the markets, although fancies fared much better. Overall demand remains slow, sentiment is weak, and manufacturing in India is still well below full capacity. Estimates for the number of workers laid off in Surat vary between 10,000 and 20,000. China scrapped its zero-COVID policy in December, which has freed up trade and travel, but has seen infection levels well above anything the country has ever experienced. Alrosa's goods are still reaching the market, albeit at reduced levels because of US sanctions and industry boycotts.

HIGHLIGHTED CHANGES

Rounds
0.70-0.79 ct. D-H / VS1-SI1 -1-3.5%, I-K / VVS1-VS1 -1.5-2.5%
1.00-1.24 ct. G-H / VVS1-SI1 -1-3.5%
4.00-4.99 ct. D-G / VVS1-VS2 -2.5-4%, K-M / IF-VVS1 -1-2.5%

Fancy Cuts
0.18-0.22 ct. F-I / IF - VS1 -4-6%
1.50-1.99 ct. H-J / IF-SI1 +1-4.5%
5.00-5.99 ct. D-F / IF-VVS1 -1-4%, E-G / SI3-I1 +1-4.5%

Source: IDEX (repost)