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Rapaport Weekly Market Comment
December 31, 2015
Dec 31, 2015 10:00 AM
By Rapaport News
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Rounds: U.S.
consumer confidence improves with overall holiday retail sales +7.9%, according
to MasterCard SpendingPulse. Mobile and online sales soar. Diamond trade
cautious about the Chinese New Year as China-Hong Kong jewelry sales slowed in
2015. RAPI for 1ct. diamonds +1.5% in December as difficult year ends on a
positive note. Polished prices supported by shortages rather than rise in
demand. Dealers more optimistic but profit concerns continue into 2016. Cutters
not willing to raise polished production at current rough prices. The Rapaport Group wishes everyone a happy, healthy, prosperous and peaceful New Year.
Fancies: Pears and Ovals in short
supply due to limited production. Emeralds improving. Fairly good market for
large top-quality fine-cut fancy shapes but buyers are extremely picky and
supply is very tight. Cushions steady,
Princess and Hearts slow. Overall fancy shape prices relatively soft. U.S.
demand supporting market for commercial-quality fancies, especially for sizes
under 1ct. 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: Polished trading quiet as
wholesalers and dealers took vacation between Christmas and New Year.Sentiment
improving amid reports of a positive holiday shopping season and some orders
for Valentine’s Day. A lot of goods out on memo and dealers are waiting for
January returns to assess their inventory positions. Good demand for
0.30-0.80ct., G-J, SI-I2 diamonds with shortages supporting prices. Retailers
note steady sales and heavy tourist traffic over Christmas.
Belgium: Polished and rough
trading very quiet with most dealers on vacation during the Christmas to New
Year period. Antwerp bourses are closed until January 4.
Israel: Polished
trading stable and sentiment continues to improve. Steady demand with shortages
supporting prices for RapSpec A2 (3X, none) 0.30-0.90ct., D-J, VS-SI and 1ct.,
G-J, SI-I2 diamonds. Prices soft for lower quality diamonds as suppliers try to
off-load dead inventory. Rough trading very quiet with dealers expecting price
correction at January sight.
India: Positive
sentiment in the market. Prices firm due to shortages in RapSpec A2 (3X, none)
diamonds while holiday demand was okay. Good U.S. demand for 1ct., G-J, SI2-I2
diamond. Steady Chinese demand for 0.30-0.40ct., D-J, VS-SI diamonds.Polished
production remains at estimated 30 percent below capacity with tight profitability
due to high rough prices. Manufacturers anticipate 5 to 7 percent rough price
cut in January. Jewelry retail sales stable but consumer confidence still weak.
Hong Kong: Polished market
quiet over Christmas-New Year with many dealers on vacation.Some
trading activity to fill orders from Mainland China for the Chinese New Year
(Feb. 8). Good demand for 0.30-0.49ct., D-J, VS-SI GIA dossiers with notable
shortages in the market. Jewelry retailers report mixed sales over Christmas, with
consumer sentiment cautious in Hong Kong and Macau.
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Tags:
Rapaport News
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