De Beers Set to Ease Rough-Diamond Prices at the July Sight

According to Rapaport, De Beers is poised to lower prices or widen discounts at the July Sight, after listed prices for smaller goods remained 20% to 30% above market levels. Its average realized price had already fallen to $101 per carat in Q1, down 19% year over year. The expected adjustment would bring listed prices more closely in line with market levels.

The RAPI for 1 ct declined 0.34% this month, while the 0.50 ct index gained 0.85%. The divergence suggests that demand remains concentrated in smaller stones.

The rupee weakened to 95.4 against the U.S. dollar (+1.1% on the week), potentially supporting margins for Indian cutters. Gold fell about 8% over the month to $4,126/oz. India's polished-diamond exports ended FY 2025–26 down 8.5% at $12.2 billion.

De Beers' July Sight is the month's key industry event. The next major exhibition is Vicenzaoro in Vicenza, taking place September 4–8.