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Rapaport Weekly Market Comment
September 29, 2016
Sep 29, 2016 10:22 AM
By Rapaport News
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Diamond
market stable. Positive sentiment in the trading centers despite lower than
usual holiday orders. U.S. retailers driving demand but consumers cautious amid
election uncertainty. Chinese jewelry demand steady ahead of National Day
festival (Oct. 1). Polished inventory rising as manufacturers raise production before
Diwali vacation (Oct. 30). Steady prices but weaker assortments reported at relatively
small De Beers Oct. sight. Rapaport
offices will be closed on Monday and Tuesday (Oct. 3-4) due to Rosh Hashanah. Best
wishes to all for a happy, healthy, peaceful and prosperous Jewish New Year.
Fancies: Markets slow.
Large 5 ct.-plus fine-quality goods getting more interest. Curved fancy shapes
improving. Ovals and Pears steady. Square shapes slow. Emeralds selling with
improving large-stone demand. Top-quality fine-cut fancy shapes OK but buyers
are extremely picky. Overall fancy shape prices relatively soft. U.S. demand
supporting market for commercial-quality fancies, especially for sizes under 1
ct. 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: Dealers
cautious as trading slow for this time of year. Presidential election adding to
uncertainty. Inventory rising with new Indian supply outpacing sales before
Diwali break (Oct. 30). Steady demand for 0.70 to 2 ct., G-J, SI diamonds. High-end
D-H, IF-VS2 slower. Retail jewelers wary after very slow summer sales.
Belgium:
Positive
sentiment continues after Hong Kong show. Steady demand for 0.30 to 3 ct., D-H,
VS2-SI, VG+ diamonds. Improving melee demand. Large stones difficult to sell.
Price sensitive buyers shopping around for the best deal. Good fancy color
demand for blues and pinks. Yellows weaker. Fancy shape market cautious with
curves better than squares. Rough trading steady during sight week.
Israel:
Upbeat
mood despite cautious trading after Hong Kong show. Dealers filling orders
before Oct. Jewish holiday period. Demand narrowing with major jewelry
retailers setting buying trends. Good demand for 0.30 to 0.89 ct., D-I, IF-SI2
diamonds. 1 to 2 ct. in same categories steady. Large stones above 3 ct. slower.
Rough trading stable.
India:
Polished
trading stable with steady demand for stars and melee for the U.S. market. -2’s
weakest melee category. Steady demand for 0.30 to 2 ct., D-J, VS-SI diamonds. Suppliers
working to fill U.S. orders before factories close for two to four weeks over
Diwali (Oct. 30). Israeli and New York buyers looking for goods. Rough trading
stable as manufacturing increases before Diwali break.
Hong
Kong: Regular
activity returns after positive September show improves mood. Price sensitive
Chinese buyers driving demand. Steady demand for 1 ct., G-H, VS-SI (3X, none)
diamonds. Retailers increase promotional activity ahead of National Day
festival (Oct. 1) as consumers continue shift to more affordable items.
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Tags:
Rapaport News
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