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Rapaport Weekly Market Comment
Mar 2, 2017 11:00 AM
By Rapaport News
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Positive
mood at Hong Kong show with steady dealer trading and improving Chinese demand.
Suppliers holding prices firm at the show after Feb. 1 ct. RAPI -0.3%. U.S.
market optimistic
with rising economic sentiment as Dow hits 21,000. Signet shares slump over -10% as jeweler defends against sexual
harassment allegations. Rough market premiums softening after $545M De
Beers sight. U.S. 2016 polished imports flat at $23B,
exports +3% to $18.9B. Hong Kong 2016 polished imports -1% to $17.4B, exports flat
at $13.4B. De Beers unveils new melee screening machine as concerns rise about
undisclosed synthetics. Tiffany
Stevens appointed CEO of Jewelers
Vigilance Committee.
Fancies: Fancy-shape demand improving slightly with shortages
of fine-quality, large Pears and Ovals. Cushions making comeback. Emeralds
selling better than Princesses. Some demand for big fancy shapes, but buyers
extremely picky. U.S. demand steady, Far East fancy-shape demand weak. Large
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 steady with dealers watching
trends at the Hong Kong show. Buyers looking for goods but are prepared to wait
for the right deal. Stable demand for 1 to 2 ct., G-J, VS2-SI2 diamonds and
shortage of better-quality RapSpec A2+ goods. Jewelry retail sales okay, supported
by bridal. Bold statement pieces dominate Oscars’ red carpet.
Belgium: Antwerp quiet with many dealers in Hong Kong for
the show. Good demand for 0.30 to 2 ct., D-H, VS-SI, RapSpec A2
diamonds. Far East market stable. Europe cautious. Good U.S. demand for 1 ct., G-J, SIs. Dealers holding
large inventory of less-desirable goods. Rough trading stable with supply of
better-quality polished expected to rise in 2Q.
Israel: Large delegation of suppliers at Hong Kong show.
Good demand for 0.30 to 2 ct., G-J, VS-SI, RapSpec A2+ diamonds. Nice SIs
strong across the board. Big-stone demand selective with buyers prepared to
wait for the right stone and the right deal. Niche suppliers of unique fancy-shape
and fancy-color diamonds doing well.
India: Mumbai relatively quiet with many dealers
in Hong Kong. There are very few foreign buyers in India this week. Sentiment
improving with steady orders for GIA dossiers. Melee market waking up as
negative impact of demonetization fades. Large manufacturers bullish, investing
in production and sales innovation. Oct.-to-Dec. GDP growth +7.4% despite
demonetization liquidity crunch.
Hong Kong: Market busy with improving sentiment
during Hong Kong show. Independent
Chinese retailers more optimistic than major Hong Kong-based jewelers. Steady
dealer demand and improving sentiment in the local market. Suppliers with the
right goods getting firm prices. Large volume of lower-quality diamonds
available. |
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Tags:
Rapaport News
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