The recovery in prices for small diamonds gained momentum in June, with the 0.30- and 0.50-carat categories seeing sharper increases, according to Rapaport.
The Rapaport Trade Diamond Index (RAPI) rose 4.2% for 0.30-carat diamonds, up from a 2.1% gain in May.
The Rapaport Trade Diamond Index is the average asking price, in hundred dollars per carat, 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.
The 0.50-carat RAPI increased 1.3%, also higher than May's 0.9% rise.
The 1-carat index dipped 0.7%, while RAPI for 3 carats rose 0.4%, turning positive after a May decline.
Inventory reductions continued to support the upward price correction in smalls.
However, diamonds of 2 carats and larger, graded G-I, VS-SI, in rounds and long fancies, remained the strongest categories in US sales.
Round, 1- to 1.99-carat, F-J, VS-SI goods saw a mild improvement in demand, and fancies in that range remained solid.
De Beers significantly cut rough prices at its July sight, especially for goods smaller than 3-grainers (0.75 carats).
The impact on polished prices will likely be minimal, as De Beers was aligning its prices with market rates.
The sale was the first under the new sightholder contract, which has seen the miner trim its client roster from about 70 companies to between 45 and 50.
Global rough production declined 8% to 98.8 million carats in 2025, with a corresponding 3% decrease in value to $9.23 billion, according to the Kimberley Process. Russia remained the top producer by value for a third straight year.
Alrosa said it would suspend operations at its Severalmaz deposits for three months to manage supply.
Indian manufacturers maintained cautious production levels.
US retail continued to support the market during June, but there were pockets of strength elsewhere.
Hong Kong's Chow Tai Fook and Luk Fook reported steady growth for the past fiscal year thanks to rising gold demand and prices, as well as stronger jewellery sales in the municipality.
Domestic Indian wholesale and retail activity looked set to improve ahead of the August IIJS show and the wedding season, which begins in October.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
