Positive
sentiment after Chinese New Year. Hong Kong show starts off slow, with Chinese
buyers still on vacation. Steady dealer demand and firm prices for 0.30 to 1
ct., G-J, VS-SI, RapSpec A2+ diamonds. Indian consumers and banks cautious as
fallout from alleged $1.8B Nirav Modi-Gitanjali fraud widens, with new reports of
unpaid $810M Gitanjali loan. A.Jaffe, Firestar Diamond and Fantasy file for
bankruptcy protection. India Jan. polished exports +29% to $2.1B, rough imports
+14% to $1.4B. Belgium Jan. polished exports +29% to $813M, rough imports +14%
to $1.1B. Eira Thomas appointed CEO of Lucara Diamond Corp. Nishit (Bali)
Parikh elected AWDC president.
Fancies: Fancy shapes mixed, with curves
better than squares. Ovals hot, Marquises strong, followed by Pears and
Cushions. Emeralds and Radiants fair, 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: New York
trading stable, with many suppliers at Hong Kong show. Shortage of fine-quality
(3X, no-fluorescence) VS-SI goods. Excess supply of lower-quality stones with
center inclusions. Steady interest in 0.30 to 2 ct., G-J, VS2-SI2 diamonds.
Retail market seasonally slow as jewelers concentrate on bridal ahead of summer
wedding season.
Belgium: Dealers optimistic, with focus on filling US and European
orders. Asian demand improving during Hong Kong show. 0.30 to 1 ct., G-J, VS-SI
diamonds selling well. 3 ct., G-H, VS, 3X also doing nicely. Rough trading
stable during De Beers sight.
Israel: Large delegation at Hong Kong show. Steady dealer trading,
with suppliers holding prices firm for 0.30 to 1 ct., G-J, VS-SI, RapSpec A2+
diamonds. Good demand at large-stone rough auctions.
India: Cautious mood following major bank fraud claim against Nirav
Modi and Gitanjali Gems. Domestic market relatively weak. Diamond dealers
focused on US and China. Manufacturers increasing production, with shift from
smaller sizes to pointers. Rough demand stable during De Beers Feb.
sight.
Hong Kong: Trading slow as dealers return from Chinese New Year
vacation. Suppliers report positive holiday orders and expect further boost
from the show. Steady market for 1 ct., G-H, VS-SI, RapSpec A2+ diamonds.
Larger stones above 3 ct. also selling well. Strong jewelry retail sales during
Chinese New Year, according to government data.
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