Diamond market
positive despite slower-than-expected Hong Kong show. China outlook optimistic,
with some uncertainty over unlimited Xi Jinping rule. Government relaxing
anti-corruption measures, and consumers more confident about displaying wealth.
Chinese female self-purchases rising. Hong Kong jewelry and watch sales +10% to
$1B in Jan. Diamond buyers adapting to higher polished-price levels, with 1 ct.
RAPI +0.7% in Feb. Manufacturers’ profit margins tighter, with higher rough prices
at $555M De Beers sight. Alrosa sells $541M in Feb. Rough trading steady; boxes
selling at around 5% premiums. Belgium Feb. polished exports -6% to $1.3B,
rough imports -5% to $866M.
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. Dealers eyeing trends at Hong Kong show, maintaining firm
prices. Good demand for 1 ct., G-J, VS-SI diamonds. A lot of fancy color
diamonds available. Cushions improving. Jewelers focused on engagement and
bridal collections.
Belgium:
Antwerp quiet,
after many dealers traveled to the Hong Kong show. Some US and European buyers
looking for goods; collection VVS diamonds doing well.Solid dealer
demand for GIA dossiers. Rough market strong, with relatively large volume of
Alrosa goods available.
Israel: Stable market, with robust dealer
trading at Hong Kong show. Suppliers disappointed with Chinese retail turnout. Positive
demand for 1 ct., F-H, VS1-VS2 diamonds. Low colors (K-M) selling well. Steady
European interest in high-end goods, but IF weak.
India: Mumbai trading slow with Hong Kong
show drawing focus. Large suppliers holding prices firm. Good market for
dossiers and 1 ct., G-H, VS-SI diamonds. Stars and melee improving. Banks more
cautious in lending to the trade following Nirav Modi-Gitanjali Gems fraud case.
Tighter credit and higher rough prices lead to liquidity concerns.
Hong Kong: Positive
sentiment at show, with fewer but more serious buyers attending. Big Hong Kong
brands looking for goods and expanding retail footprint. Jewelers still assessing
Chinese New Year sales and are expected to restock in coming months. Steady
demand for 0.30 to 1 ct., D-J, VS-SI (3X, no-fluorescence) stones. Fancy color
diamonds also selling well.
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