Mixed mood as dealers prepare for Las Vegas shows. Slow polished market lacking usual pre-show buzz. Suppliers looking to assess retail atmosphere ahead of 2017 holiday season. Major jewelers under pressure as Tiffany shares plunge approximately -8% after 1Q sales +1% to $900M, net earnings +6% to $93M. Signet Jewelers shares slump about -9% as 1Q sales -11% to $1.4B, profit -52% to $70M, outsources credit portfolio. Rough market resilient. US March polished imports -3% to $2B, polished exports +7% to $1.6B. De Beers to start polished auctions in June. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON JUNE 2 DUE TO THE JEWISH HOLIDAY OF SHAVUOT.
Fancies: Steady demand for Pears in the Far East, with
Ovals overtaking Pears as the strongest shape in the US. Shortages of
fine-quality large Pears and Ovals. Cushions stable. Emeralds selling better
than Princesses. Some demand for big fancy shapes, but buyers extremely picky.
Improving demand for Radiant, 3.01 to 9.99 ct., D-I, SI1-SI2 elongated stones.
Large price differentials between excellent- and average-cut fancies. Off-make,
poorly cut fancies illiquid and very hard to sell, even at very deep discounts.
United States: Polished trading slows ahead of Las Vegas shows. Many
wholesale and retail jewelers still unsure about their attendance. Shortage of nice
1.50 to 3 ct., G-H, VS2-SI1 (3X, none) diamonds. Similar scarcity of top-make
pear shapes. Jewelry sales steady, with good engagement ring demand as summer “proposal”
season begins. Center stone with pavé setting rising in popularity.
Belgium: Steady market, but European buyers cautious after
Manchester terror attack. Good dealer demand for 0.30 to 0.40 ct., D-J, VS-SI, RapSpec
A2 and improving demand for 0.50 to 0.80 ct., D-J, VS-SI diamonds. Steady
Chinese demand, while US orders weaker than usual before Las Vegas shows. Rough
market strong, with good energy after Antwerp Rough Week that began May
10.
Israel: Sentiment positive despite sluggish trading as
more than 60 Israeli companies are participating in the JCK Las Vegas show. Large
volume of goods out on memo for the show. Monthly “Blue and White Day” boosts
activity on bourse trading floor. Good demand for 0.30 to 0.49 ct. goods. Melee
market quiet, with suppliers giving strong discounts for bulk inventory orders.
India: Activity relatively slow, with some dealers still on
vacation through May school holidays. Very few overseas buyers in the market.
Rising expectations for Las Vegas shows. Steady demand for very small -2, SI
goods. Stars, melee and piqué goods slow. Good market for 0.30 to 0.40 ct.,
D-J, VS-SI, 3X diamonds. Rough trading buoyant as manufacturing levels continue
to rise.
Hong Kong: Polished market stable during traditionally
quieter period of the year. Dealers focused on lower colors and clarities,
reflects shift in consumer demand toward lower qualities and price points. Hong
Kong jewelry sales sluggish due to reduced tourist traffic. Sales in mainland
China positive as more luxury consumers are buying local. Oval-shape fancies
gaining in popularity.
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