Optimistic mood as trading resumes after spring break.
Polished prices stable, with 1 ct. RAPI -0.1% in March. Chinese dealers buying stock
ahead of potential yuan devaluation that may raise local prices if China-US
trade war emerges. European high-end market mixed, with large luxury houses
doing better than smaller niche players: LVMH 1Q jewelry & watch sales +9%
to $1.2B; De Grisogono to cut around 40 jobs in strategic shift to affordable
fine jewelry & watches. Sotheby’s Hong Kong sells $49M (61% by lot), but emerald-cut,
14.18 ct., fancy blue, VVS2 diamond ring remains
unsold. Alrosa March sales -1% to $560M. Hong Kong 2017 polished imports
+9% to $18.9B, exports +5% to $14B.
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 quiet after
Passover holiday. Little urgency to sell, and suppliers not prepared to reduce
prices after good 1Q. Dealers optimistic for 2Q, with focus on Las Vegas shows.
Solid demand for 1 ct., G-H, VS2-I2 diamonds. Growth-minded retailers investing
in e-commerce, better distribution and innovation in effort to drive customers to
stores.
Belgium: Positive sentiment after Easter break, although trading still
subdued. Prices steady for commercial goods, with consistent demand for 1 to 2
ct., H+, VS-SI diamonds. Lower colors improving. Rough trading stable during De
Beers sight, with boxes selling on the secondary market at slightly lower
premiums.
Israel: Slow trading as dealers return from Passover vacation. Demand centering
around 0.30 to 1.49 ct., G-J, VS2-SI range. Large-stone orders quiet. Dealers
focused on US market, with rising expectations for upcoming Las Vegas shows.
Steady interest in special-size rough.
India: US and Asian buyers driving activity. Good demand for 0.30 to 0.60
ct. and 1 ct., J-M, I1-I2 diamonds. Manufacturers with sizable credit lines
facing greater scrutiny from banks amid concern large companies may reduce
prices to raise liquidity. Trading expected to improve during Bharat Diamond
Week (April 23 to 25).
Hong Kong: Slight slowdown since
last month’s show, but business still better than a year ago. Dossiers moving
well. Steady orders for 2 to 3 ct. in lower I-M colors. Stronger tourist
spending and improved job market lift retail sentiment in 2018. Chinese yuan
depreciation may reduce tourist shopping.
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