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What Happened in Vegas
Jun 5, 2012 12:28 PM
By Avi Krawitz
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RAPAPORT... The JCK Las Vegas show ended on Monday with mixed reports from diamond exhibitors. Overall, the show was okay. While it did not signal a significant boom in trading, most left satisfied that the U.S. market is stable in the near term.
Here are some of the trends that emerged at the show.
- Square shape fancies were strong and selling at low discounts. Larger discount on princess cuts. There is a shortage of well-made fancies in the market.
- Rounds weaker. Prices relatively firm. Clean makes, Triple Ex goods in demand. Best demand for SI goods, with shortage in supply.
- Polished suppliers holding prices firm due to high rough prices. Little to no profitability on manufacturing.
- BHP Billiton rough prices fell about 7 percent at its recent tender. Cutters hope De Beers lower prices at next week’s Diamond Trading Company (DTC) sight, but don’t expect it.
- Luxury traders had a strong show. Similar positive feedback from the Couture and Antique shows.
- The U.S. market okay, not booming, but a source of stability for the global market.
- Indians were not at the show, and it was difficult to sell to those that were. Some expect them to have more of an impact at the June Hong Kong show.
- Strong buying by Israelis.
- Belgians are weak in the polished market.
- Many are looking toward the June Hong Kong show, that begins on June 21, as more of a market indicator for the second half of the year, as they are not sure about the current state of Far East demand.
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Tags:
Avi Krawitz, diamonds, JCK Las Vegas, Jewelry, Rapaport
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