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Rapaport Weekly Market Comment
Mar 30, 2017 11:00 AM
By Rapaport News
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Polished market stable but positive momentum has
slowed. Big-stone demand restrained. Shortage of better-quality goods as
high-end consumers seek rare, unique pieces. Lower visitor traffic and fewer
exhibitors at Baselworld reflect cautious Swiss watch industry. Brands offering
vintage designs and lower price points are competing with smart watches. De
Beers reduces 2017 sightholder ITOs, allocating more supply to beneficiation
and government partners. Dominion to assess
potential acquisition offers. Chow Sang Sang 2016 revenue -16% to $2.1B, profit
-34% to $96M. Signet, United Laboratories to work with Diamond Producers
Association to test synthetics-detection machines.
Fancies: Good demand for Pears in the Far East with Ovals overtaking Pears
as the strongest shape in the U.S. Shortages of fine-quality, large Pears and
Ovals. Cushions stable. Emeralds selling better than Princesses. Some demand
for big fancy shapes, but buyers extremely picky. Improving demand for Radiant,
3.01 to 9.99 ct., D-I, SI1-SI2 elongated stones. 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 stable. Optimism from Hong Kong show diminishing
with trading expected to slow in April during Passover and Easter spring break.
Selective demand for better-quality, RapSpec A2 diamonds, which are difficult to
find. SI-I2-clarity strong. Positive consumer confidence and retail sentiment
ahead of June-July summer wedding period.
Belgium: Sentiment weaker amid reports of cautious trading at Basel show.
Buyers are selective, filling specific orders and avoiding large inventory
purchases. Good demand for commercial-quality, G-H, VS-SI dossiers. New supply
selling better than leftover old stock. Rough trading strong due to lower
supply at De Beers sight, with boxes selling at 5% to 10% premiums on the secondary
market.
Israel: Polished trading slow after March show
season. Very few dealers in the bourse, with Israeli
buyers looking for goods in India and suppliers selling in New York and Hong
Kong before the Passover break (April 11 to 18). Focus shifting back to the US
with good demand for 0.90 to 2.99 ct., D-J, I1 diamonds. Rough trading cautious
due to tight manufacturing margins.
India: Steady trading with US
and Israeli dealers looking for goods in Mumbai. Manufacturers holding prices
firm for new RapSpec A2+ production. Suppliers more flexible on older,
lower-quality RapSpec A3 diamonds. Good Chinese demand for SI’s. Non-certified “American”
piqué goods weaker than before. Rough trading strong with good 5% to 10% premiums
on De Beers boxes during sight week.
Hong Kong: The market is stable with consistent demand for 0.30 to 1.10-carat,
G-J, VVS2-SI2 diamonds.Some wholesalers still filling orders from Hong
Kong show.Demand shifting to smaller and more affordable diamonds.
Jewelry retail doing better in China than Hong Kong as jewelers start to
prepare inventory for May 1 Labor Day holiday.
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Tags:
Rapaport News
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