Dealers upbeat and maintaining firm prices, with expectations of higher
rough prices and 1Q stock replenishment. Rough market robust, with large De
Beers sight expected next week. Jewelers discounting less amid increase in consumer
spending this holiday season. US equity markets hit new highs as dollar
weakens. Tiffany & Co. renews growth as Nov.-Dec. sales +8% to $1.1B,
comparable-store sales +5%. Okavango 2017 sales +4% to $567M, average price +4%
to $166/ct. Gem Diamonds finds 910 ct. rough at Letšeng mine. Sarine to open
first grading lab. De Beers pilots diamond blockchain to improve industry
transparency. Pramod Kumar Agarwal elected India GJEPC chairman.
Fancies: Fancy shapes mixed, with curves better than
squares. Ovals hot, followed by Pears and Cushions. Emeralds and Radiants okay,
Princesses still weak. Oversizes selling well. Steady demand for fine-quality 6
to 10 ct. Ovals, Pears and Emeralds, with limited supply. US supporting market
for commercial-quality, medium-priced fancies under 1 ct. Far East demand
improving as consumers seek fancy shapes at better prices. Off-make, poorly cut
fancies illiquid and hard to sell, even at very deep discounts.
United States: Wholesale and dealer markets stable, with steady
demand for 1 ct., G, VS2-I2 diamonds. Retail market seasonally quiet after
positive Christmas sales. Cold weather contributing to slow store traffic.
Jewelers seeing good high-end, solitaire and fashion jewelry sales. Engagement
rings and wedding bands not as strong.
Belgium: Sentiment positive, even with buyer traffic in Antwerp
not yet back to normal after the Christmas break. Few foreign buyers in the
market. Steady demand for 1 ct., F-I, VS-SI diamonds. Rough trading busy during
Alrosa sales week, with higher premiums on the secondary market. Rough prices
expected to firm during next week’s De Beers sight.
Israel: Dealers optimistic for the first quarter. Profit
margins improving, as prices firmed after the holiday season. Steady market for
0.30 to 0.50 ct., G-J, VS-SI and for 1 ct., G-J, VS-SI diamonds. SIs selling
well in all categories. Stable rough demand, particularly for large and
expensive stones.
India: Positive trading, with good demand for VS-SI dossiers
and 1 ct., G-J, SI1-I1, GIA-graded diamonds. China and Hong Kong buyers active.
Some shortages due to drop in manufacturing since Diwali. Many cutters shifting
to smaller sizes. Solid rough demand ahead of De Beers sight.
Hong Kong: Polished trading stable and prices firm. Steady demand for 0.50 to 2 ct.,
D-G, SI RapSpec A2+ (3X, none), GIA-graded diamonds. Rising expectations for
Chinese New Year sales, particularly for higher-end goods. Shortage of brides
due to China’s one-child policy, forcing grooms to show their worth by splurging
on bigger and better diamonds. Custom jewelry gaining popularity.
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