Steady demand and firm prices.
Chinese orders slow down as focus turns to consumers for Chinese New Year (Feb.
16). Rising expectations for Year of the Dog, after China’s gold, silver and
jewelry sales +6% to $47.2B in 2017. Strong rough market during $665M De Beers
sight, with dealers selling boxes at estimated 6% average premium. De Beers selling
third-party rough on auction platform. Alrosa 2017 sales volume +3% to 41.2M
cts., production +6% to 39.6M cts. Petra Diamonds 1H revenue +1% to $225M,
production +10% to 2.2M cts. LVMH 4Q jewelry & watch sales +9% to $1.3B. India
raises import duty on polished diamonds from 2.5% to 5%.
Fancies: Fancy shapes mixed, with curves better than
squares. Ovals hot, followed by Pears and Cushions. Emeralds and Radiants okay,
Princesses still weak. Oversizes selling well. Steady demand for fine-quality 6
to 10 ct. Ovals, Pears and Emeralds, with limited supply. US supporting market
for commercial-quality, medium-priced fancies under 1 ct. 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: Positive mood after India Diamond Week and
Centurion Show. Retailers starting to replenish stock after holiday sales.
Dealers filling specific requests as they wait for post-holiday inventory
orders. Good demand for 1 ct., G-J, VS-SI, RapSpec A3+ diamonds. Jewelers
preparing for Valentine’s Day with less promotional discounting than usual.
Belgium: Dealers upbeat, with steady demand for RapSpec A2+
(3X, no-fluorescence) goods. Prices firmer since beginning of the year. Steady US
orders for SI and piqué diamonds. Good demand for 0.30 to 2 ct., G-J, VS-SI,
diamonds. Rough market busy, with strong premiums for De Beers and Alrosa boxes.
Israel: Optimistic atmosphere ahead of International
Diamond Week in Ramat Gan (February 5 to 7). Prices firm after recent increases
by Indian suppliers. Some Israeli suppliers selling at lower prices to reduce
inventory and improve liquidity, but are struggling to replace stock at current
prices. Good demand for 0.30 to 1 ct., G-L, VS-SI goods. Rough trading steady.
India: Slight slowdown in trading as Far East buyers have
completed their orders for the Chinese New Year. Steady foreign buyer interest.
Good demand for 0.30 to 1 ct., G-J, VS-SI, RapSpec A3+ diamonds. Factory
production rising after large volume of rough entered the market in late
January. Rough trading steady at higher premiums.
Hong Kong: Positive sentiment, with dealers optimistic for the
Chinese New Year and for the upcoming Hong Kong show. Jewelry manufacturers
closing for the festival. Improving demand for 1 to 2 ct., D-H, VS-SI diamonds.
Retail improving with sales of jewelry, watches and other valuables +6% to $9.6B in
2017.
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