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Confusion grips market

 

Trading volumes were sharply down last week, as a general state of confusion gripped the market, following the bizarre movements in the Rapaport price list, which many companies still use as a basis for their pricing policy.

With some price points moving by 25% and an accompanying statement saying that this did not reflect a movement in market prices, many did not know what to do for the best and consequently decided to hold off sales until trading norms become re-established.

Daily Index levels

 

Level

Daily Change

Monday 26/05

131.8

1.0%

Tuesday 27/05

129.9

-1.4%

Wednesday 28/05

129.9

0.0%

Thursday 29/05

130.8

0.7%

Friday 3028/05

129.7

-0.8%

Monday 02/06

129.7

-0.0%

Weekly Index

The main PolishedPrices index opened at 129.7 points on Monday. This is 1.6% down on the week and 0.8% lower than the start of the year, although it 2.8% above where it stood at this time last year.

Most of the benchmark categories traded in quite narrow ranges. Mixed one carats was the biggest mover, falling 4.9%.

Benchmark groupings PolishedPrices Index.

.

 

Current Levels

 

2008 Low

2008 High

 
   

Index

Jan 04

=100

Change from week ago

Change from

year ago

Index

Date

W/E

Index

Date

W/E

Year to date change

 

Overall

129.7

-1.6%

2.8%

128.4

05-Mar

134.6

04-Feb

-0.8%

                   

1 ct

Fine

137.9

-4.6%

7.9%

116.9

30-Jan

147.5

24-Apr

5.9%

 

Commercial

120.5

-3.4%

3.4%

110.3

11-May

135.2

15-May

-2.6%

 

Mixed

165.6

-4.9%

-4.1%

151.9

09-Mar

181.5

21-Feb

-2.8%

                   

0.5 ct

Fine

131.7

1.4%

4.9%

121.6

16-Mar

145.1

04-Feb

0.4%

 

Commercial

120.0

-2.4%

2.4%

116.8

11-Mar

130.3

01-Apr

1.3%

 

Mixed

98.8

0.3%

-1.9%

97.4

13-May

109.1

03-Feb

-7.4%

                   

0.3 ct

Fine

132.1

-3.0%

2.4%

124.7

30-Mar

158.4

04-Feb

-2.8%

 

Commercial

131.0

-0.6%

2.9%

127.5

14-Apr

136.9

04-Feb

2.3%

 

Mixed

115.2

-0.0%

0.6%

112.7

18-Feb

121.8

11-May

-0.1%

The definitions of our groupings are:

Fine: goods better than I colour and VS2 and above.

Commercial: K SI3 and above, excluding the Fine category, and

Mixed: the rest down to M I3.

The weightings used in the calculation of these indices are chosen to reflect world production. Please contact us if you would like to see details of the weightings used, or would like to see the information grouped differently.