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Rapaport Weekly Market Comment
Apr 18, 2018 11:00 AM
By Rapaport News
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Sentiment mixed as April trading slows. Manufacturers concerned about
tight profit after De Beers raised prices average 1% to 2% at $520M sight.
Indian liquidity squeezed as banks reexamine diamond loans. Rough prices
supported by limited 2Q availability. De Beers increasing supply to southern
Africa beneficiation centers. Rising expectations for US demand ahead of Las
Vegas shows. Chinese retail improves with solid Lunar New Year season. Chow Tai
Fook 4Q sales +13% in China, +11% in Hong Kong & Macau. Rio Tinto 1Q
production +11% to 4.6M cts. Rosy Blue buys stake in Leo Schachter.
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 activity improves as
Diamond Dealers Club (DDC) hosts Israel Diamond Week at new trading floor.
Strong retail promotions ahead of Mother’s Day (May 13). Major jewelers taking
more goods on memo.
Belgium: Positive sentiment with stable polished prices,
despite lower trading volumes. Dealers optimistic about the US and China.
Europe slightly cautious. Rough trading steady during De Beers sight, with premiums
on boxes down to estimated 4% on average.
Israel: Slow trading as dealers take long weekend for Independence
Day celebrations. Suppliers focused on US, with some traveling to New York for
DDC event. Inventory levels dropped since beginning of the year.
India: Fewer transactions as suppliers hold prices firm,
despite liquidity concerns. Activity expected to rise during next week’s Bharat
Diamond Week (April 23 to 25). Select demand from overseas buyers. Smaller
manufacturers planning to close for school summer holidays. Good gold jewelry
demand for Akshaya Tritiya festival on April 18.
Hong Kong: Stable polished market,
but activity seasonally slow. Strong availability of 0.30 to 0.50 ct., I-M,
VS-SI goods. Chinese tourist spending improved in 2018. Major jewelers
expanding store presence and seeing e-commerce growth.
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Tags:
Rapaport News
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