1 ct. RAPI sees its first increase in 15 months
NEW YORK, Sept. 02, 2026 (GLOBE NEWSWIRE) — Diamond prices extended their recovery in August, with small stones seeing stronger increases and the 1-carat category posting gains for the first time in 15 months.
The categories that suffered the most in 2025 saw an ongoing rebound as supply cuts paid off and demand stabilized. Trading picked up after the summer slowdown. Round diamonds performed better than fancies.
The Rapaport Trade Diamond Index (RAPI™), which tracks asking prices for round, D-H, IF-VS2 goods, rose 0.5% for 1-carat diamonds in August following flat or negative figures going back to May 2025. RAPI for 0.30-carat diamonds jumped 2%, continuing its recent rebound, while 0.50-carat goods advanced 2.5%. The 3-carat index slipped 0.4%, having been steady for the past year and a half.
Overall market sentiment improved. Round diamonds from 0.30 to 0.69 carats led the comebacks as miners and manufacturers reduced production, rebalancing supply and demand. 1- to 1.49-carat goods stabilized amid inventory declines and reports of consumers cooling on lab-grown diamonds. Diamonds of 1.50 carats and up remained solid, especially in larger sizes and commercial qualities popular in the US.
Indian manufacturers shipped goods stateside following the end of the summer slowdown. The July confirmation of a 10% US tariff rate on Indian goods was also a factor, giving the trade more clarity after an uncertain few months. The mood in India’s export and domestic trades strengthened, with brisk business at the India International Jewellery Show (IIJS) in Mumbai. Antwerp and Israel were seasonally quiet. Chinese demand was slow ahead of the September Jewellery & Gem World Hong Kong fair.
Miners continued to report sales declines. Alrosa’s revenue fell 36% year on year to RUB 74.16 billion ($901.6 million) in the first half, and the Russian company incurred a loss of RUB 10.67 billion ($129.7 million). De Beers’ revenue dropped 19% year on year to $1.58 billion for the same period, though the company managed to trim its losses thanks to lower expenses and more stable prices.
The industry’s focus has shifted to the holidays. The trade has enough goods for the season, although there are shortages in some sought-after categories, as the August edition of the Rapaport Intelligence Report explains. Steady demand and a disciplined approach to production will ensure that the cautious market recovery holds.
About the Rapaport Trade Diamond Index (RAPI™): The RAPI is the average asking price of the 10% lowest-priced round diamonds in each of the top 25 quality categories (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better) offered for sale on Rapaport Trade® (formerly RapNet) at rapaport.com/trade. Additional information is available at rapaport.com.
About the Rapaport Group: The Rapaport Group includes Rapaport News, which delivers industry-leading content across digital platforms, including news coverage, interviews, editorial features, original storytelling, and branded content initiatives; Rapaport Intelligence, which provides in-depth research on the global diamond and colored-gemstone markets, including demand and pricing trends and the benchmark diamond Price List; Rapaport Trade (formerly RapNet), the world’s largest online diamond- and gemstone-trading marketplace, with over $8 billion in daily diamond, gem and jewelry listings; and Rapaport Auctions, the world’s largest recycler of diamonds.
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