DiamondBuzz
Israel Diamond Exchange quits WFDB amid tariff dispute
The Israel Diamond Exchange (IDE) has suspended its membership in the World Federation of Diamond Bourses (WFDB), citing dissatisfaction with the organisation’s conduct during the ongoing US import tariff crisis, Rapaport News reported.
In a letter to WFDB Secretary-General Rony Unterman on 8th April, the IDE board said the decision followed unanswered requests for information and actions that had harmed Israel’s diamond trade. IDE President Nissim Zuaretz told Rapaport the move was triggered by WFDB President Yoram Dvash’s comments in Calcalist, where he criticised country-specific lobbying and promoted a global strategy for tariff exemptions.
Zuaretz accused Dvash of trying to take credit for advocacy led by the World Diamond Council (WDC), potentially jeopardising Israel’s own efforts. Dvash denied the claims, telling Rapaport they were “untrue and frankly absurd,” and emphasised the WFDB’s ongoing collaboration with the WDC.
Zuaretz said the IDE would shift focus to partnerships with the WDC and the International Diamond Manufacturers Association (IDMA), while also saving over $29,000 in annual fees. Dvash described IDE’s withdrawal as “rash,” warning it could weaken global unity at a critical time for the industry.
DiamondBuzz
Rising Inventory Putting Fresh Pressure On Polished Diamond Prices
Indian Manufacturers Are Shuttering Factories For Up To A Month For Diwali, Dampening Rough Demand and Dragging Down De Beers’ October Sight Sales.
Rising inventory is putting fresh pressure on polished diamond prices following a strong mid-year recovery. The Rapaport Spec Diamond Index (RAPI™) dropped across major smaller sizes in October—led by a 5.5% plunge in 0.30-carat stones and a 2.3% slide in 0.50-carat goods after late-September peaks.
Mid-sized 1-carat diamonds edged down 0.9%, while larger 3-carat stones bucked the trend with a modest 0.9% gain. Despite the retreat, 0.30-carat diamonds remain up 8.8% year-to-date.
Inventory Floods Small Sizes: Supply of 0.30-carat rounds surged 165% between June 1 and November 1, driven by ramped-up factory production and cutters sending smaller stones back for grading as prices recovered.
Rough Sales Slow Ahead of Diwali: Indian manufacturers are shuttering factories for up to a month for Diwali, dampening rough demand and dragging down De Beers’ October sight sales. Industry observers expect the holiday pause to help balance bloated inventories.
Luxury Brands Outshine the Trade: While upstream pricing softens, major luxury conglomerates continue to thrive. LVMH and Kering posted robust Q3 jewelry revenue, setting high expectations heading into the critical holiday shopping window.
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