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Market Comments 10/8/2015
Oct 8, 2015 6:00 PM
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HK’s Golden Week weak as mainland Chinese tourists stay home. Buyers waiting for price cuts from sellers who need cash. Israel and New York slow as dealers return from holidays. India remains slow, particularly 1.5-ct.+ goods. Commercial goods better than high end with 0.50-0.75-ct., H-I moving better
than 1 ct., D-F, VVS goods. Slight price reductions at DeBeers sight offset by
changes in size assortments. Buyers not confident with manufacturing down about
50% in lead-up to November’s Diwali festival. Belgium trade showing some signs
of life after sluggish September, with increased U.S., European demand. Bharat
Bourse bans synthetics. U.S. polished diamond imports +4% in August.
Fancies: Demand
soft. Pears, Ovals and Cushions steady, Princess, Hearts slow. Prices for
curves improving slightly. U.S. demand supporting market for commercial-quality
fancies, especially for sizes under 1-carat. Far East fancy demand weak. Buyers
are very selective and insisting on excellent-shape proportions. Significant
price differentials between excellent- and average-cut fancies. Off-make,
poorly-cut fancies illiquid and very hard to sell, even at very deep discounts.
United States: New York diamantaires
waiting for signs of price stability before stocking up for holiday season. Israel
Diamond Week at DDC expected to bring 100+ Israeli dealers with good availability
of larger, 2-ct.+ goods. Retail sales of round diamonds under 1 ct. remain
strong with continuing demand for ovals and cushions. U.S. polished diamond
imports +4% to $1.62 billion in August.
Belgium: Antwerp showing some
signs of improvement from September, with European and U.S. buyers filling
anticipated holiday needs. Rough sales stable. Better demand for 0.30-ct., G, VS.
Hong Kong: Golden Week weak as strong
foot traffic didn’t turn into sales as Mainland tourists stayed home. Local
jewelers had already reduced their expectations after visits down by as much as
two-thirds. Hong Kong dealers report local demand for diamonds under 1 ct. Buyers
waiting for price cuts from sellers who need cash.
India: Market slow and
uncertain as international buyers wait for price stability. Manufacturers’
profit under continuous pressure as De Beers fails to significantly reduce
rough prices. Manufacturing down by as much as 50 percent before November 10 Diwali
vacation. Liquidity remains tight with reports of numerous companies facing
financial difficulties. Bharat Bourse bans synthetics trading throughout
premises.
Israel: Market waking up as diamantaires
return from several weeks of Jewish holidays. Better demand for
commercial goods than high quality certs. 0.50-0.75-cts, H-I moving better than
1 ct., D-F. Dealers focusing on U.S. buyers before important holiday season.
Far East demand expected to remain very weak.
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