Polished prices relatively stable
with 1 ct. RAPI -0.2% in Oct. Shortages
of select fine-cut diamonds helping stabilize the market, with improvement in
US memo demand as holiday season approaches. Jewelers optimistic as
stock-market rally expected to boost consumer spending. Inventory purchases
limited, with most relying on memo. Polished supply projected to rise after
Diwali break, as 3Q rough mining production reaches decade high of 26.4M cts.
from top 4 miners. Hong
Kong’s Tse Sui Luen1H sales +12% to $222M. Tiffany opens New York pop-up
stores in time for holiday season. Rapaport to host New York viewing of Alrosa
Dynasty Collection on Nov. 8-17. Alrosa auction on Nov. 29.
Fancies: Ovals selling well in US. Pears and Cushions steady.
Squares soft, with declining interest in Princesses. US demand supporting
market for commercial-quality, medium-priced fancies under 1 ct. Selective
buyers of large, fine-quality fancy shapes facing limited supply. Far East
demand improving as consumers seek fancy shapes at better prices. Off-make,
poorly cut fancies illiquid and hard to sell, even at very deep discounts.
United States: Trading slow, but good networking
opportunities surrounding New York JA show. Buyers looking for profitable goods
that are liquid, with dealers holding large volumes of less popular diamonds.
Steady demand for better-quality G-J, VS2-I1 diamonds. Jewelry retailers
starting to implement holiday-season sales strategies.
Belgium: Polished market slightly quieter than last month, with
bourses closed for Nov. 1 public holiday. Steady demand for 0.50 to 2.99 ct.,
I-J, VS-SI diamonds. Buyers insisting on 3X, no-fluorescence goods. Shortage of
top-quality SIs. Rough trading slow, with fewer goods on the dealer market
since Diwali.
Israel: Steady trading as local dealers capitalize on slow
activity in India during Diwali. Steady Chinese demand for 1 ct., I-K, VS1-SI1.
US demand stable, with jewelers making select last-minute jewelry orders. 0.50
ct. goods weak, with rising availability of these sizes. Yoram Dvash confirmed
as Israel Diamond Exchange president for three-year term.
India: Market still quiet as businesses return from Diwali
break. Activity expected to improve next week, but manufacturers to remain on
vacation.Dealers anticipate some last-minute US holiday demand. Rough
trading slow with factories closed for three weeks since Diwali, allowing
suppliers to reduce inflated polished inventory.
Hong Kong: Positive sentiment as jewelers prepare inventory for
Christmas and Chinese New Year seasons. Steady demand for 0.30 to 1 ct., F-H,
VS-SI diamonds. Good demand for better-quality SIs, but supplies tight. Fancy color
diamonds gaining popularity in China, especially pinks and yellows. Consumer
demand improving, with jewelers reporting double-digit sales growth over last
year.
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