|
|
Rapaport Weekly Market Comment
Apr 6, 2017 11:00 AM
By Rapaport News
|
|
|
Positive mood but market cooling
ahead of Passover and Easter break. First quarter weaker than previous years
with cautious retail inventory replacement. 1 ct. RAPI -1.1% in 1Q, +0.1% in
March. Good demand for 0.30 to 0.49 ct. diamonds. Rough market hot with 3% to
10% dealer premiums after De Beers $580M sight exceeds expectations. Sotheby’s
Hong Kong sells 59.60 ct., fancy vivid pink, IF diamond to Chow Tai Fook for
record $71.2M ($1.2M/ct.). Belgium March polished exports +0.4% to $1.2B, rough
imports +2% to $1.1B. Israel bourse to appoint judge to handle high-value
arbitration. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON APRIL 14 DUE TO
THE JEWISH HOLIDAY OF PASSOVER.
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: Rising
consumer confidence lifting trade sentiment. Independent jewelers that are
investing in social media marketing and innovation and adapting to changing
consumer needs are doing well. Those stuck in old way of doing business are
struggling. Bespoke ring design and settings gaining importance and helping
improve margins. Big-box retailers closing stores, affecting inventory
purchases and memo returns.
Belgium: Polished
market steady with good demand for 0.30 to 0.49 ct., F-I, VS-SI, RapSpec A2
(3X) diamonds. Commercial-quality, J to L colors also moving well. Slight
improvement in VS clarities. Shortage of better-quality large stones above 5
ct. High-end dealers disillusioned with Basel show. Rough trading strong
following larger-than-expected De Beers sight.
Israel: Trading quiet
but stable. Many businesses closing for next week’s Passover holiday. Dealers
trying to innovate but struggling to break stagnant trading patterns. Bourse is
focused on expanding dealers’ online reach, increasing rough supply and
expanding manufacturing. Rough dealers cautious amid strong rough prices on the
secondary market.
India: Steady
polished trading driven by consistent Chinese demand. Local dealer demand
improving with start of the new financial year in April. Fewer overseas buyers
in the market due to upcoming Passover and Easter holidays. Some concern about
weak US orders, with dealers emphasizing June Las Vegas show as important
market gauge. Rough trading strong as large manufacturers continue to increase
polished production.
Hong Kong: Positive
sentiment but dealer activity has slowed following the Chinese New Year season
and due to the public holiday this week. Good demand for 0.30 to 0.80 ct., F-H,
VVS2-SI, 3X diamonds. 1 ct. slightly quieter. Sotheby’s record sale of 59.60
ct. pink diamond to Chow Tai Fook creating market buzz.
|
|
|
|
|
|
|
|
|
|
Tags:
Rapaport News
|
|
|
|
|
|
|
|
|
|
|