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Market Comments 5/4/2007
May 3, 2007 11:55 PM
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News: The bigger the better. Prices for large 5ct+ diamonds continue to rise as dollar weakens. Mid sizes and caraters stable while small goods remain weak and in serious oversupply. U.S. market continues to disappoint while India, Gulf and Far East expand. DTC April sight estimated at $580 mil. China Q1-2007 polished imports +170% to $78 mil. Japan March polished imports -6% to $87 mil. UN lifts Liberia export ban. Botswana to limit local rough sales to $500 million for current 16 sightholders.
Pears: Large fancies strong but smaller goods weak and not as hot as they were last year. 3/4 and caraters stable with better demand for H+,VS+ goods. Matched pairs and layouts bringing better prices but buyers remain very picky about shape and cut qualities. Very big high quality "important" diamonds over 5 and 10 carats moving up in price as global wealth class demand improves and weak dollar drives demand for large stones.
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Tags:
China, DTC, India, Japan, Sightholders
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