Diamond market seasonally
quiet. Polished prices steady, but profit margins squeezed after April rough increase.
Polished trading more profitable than rough manufacturing. Petra 1Q rough
prices +5%. Letšeng 1Q average price +98% to $3,276/ct. Miners sold more carats
than recovered in 1Q: De Beers sales -38% to 8.8M cts., production +15% to 8.5M
cts. Alrosa sales -6% to 13.3M cts., production -17% to 7.4M cts. US jewelry sector
shrinking as 343 businesses discontinued in 1Q. Christie’s sells $46M (88% by
lot) and Sotheby’s sells $34M (83% by lot), with fancy intense blue diamonds leading
New York auctions. De Beers to launch diamond-tracking program for artisanal
miners.
Fancies: Fancy
shapes mixed, with curves better than squares. Ovals hot, followed by Pears and
Cushions. Emeralds and Radiants fair. Marquises and Princesses weak. Oversizes
selling well. Steady demand for fine-quality 6-10
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: Polished market mixed. Steady domestic and Chinese demand for nice,
0.30-0.40 ct., F-H, VS2-SI1 diamonds. 1-3 ct., F-I, VS-SI goods also selling
well. Difficult for wholesalers to replace the diamonds they sold at previous
prices. National Retail Federation
expects Mother’s Day jewelry sales of $4.6 billion, down from estimated $5
billion last year.
Belgium: Slight slowdown in polished trading. Larger firms getting steady
orders, doing better than smaller companies. 0.30-0.40 ct., F-H, SI remains hot
category. Buyers insisting on 3X, no fluorescence, and willing to pay premium
over lesser qualities. Rising demand for commercial-quality large stones, 3-10
ct., H-J, VS-SI. Rough trading stable.
Israel: Good US demand and slight improvement in Chinese orders.Trading slowed since January and February, but is better
than this time last year. Good US demand for 1-3 ct., G-J, VS-SI diamonds. Polished
prices firm as manufacturers defend recent rough-price hikes. Sluggish activity
at monthly Blue & White Fair for local trade.
India: Trading slower,
despite inaugural Bharat Diamond Week. Foreign buyers attended the event, but
weak response from local dealers. Many taking vacation during summer-holiday
period. Steady demand for dossiers, 0.30-0.50 ct. and 1-1.50 ct., G-J, VS-SI
diamonds. Industry leaders plan meeting with banks as liquidity concerns remain.
Hong Kong: Market slows at start of summer lull. Prices stable, supported by
some shortages and selective demand. Steady orders for 1 ct., G-H, VS-SI,
RapSpec A2+ (3X, no-fluorescence) diamonds. 0.30-0.40 ct., G-H, VS-SI also
moving well. Jewelry retail continues to improve, driven by gold sales in China
and rise in tourist shopping. Luk Fook 4Q
same-store sales +16%.
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