Las Vegas shows open with optimistic
outlook for US market. Dealer trading and prices stable. Savvy suppliers see
the show as networking and branding opportunity. De Beers launches low-priced
synthetic jewelry collection aiming to differentiate lab-grown from natural
diamonds. Signet joins De Beers Tracr blockchain, while GIA and Chow Tai Fook
partner on different blockchain initiative. Christie’s HK sells $72M (64% by
lot), with pear, 8.01 ct. fancy vivid blue diamond necklace fetching $20.4M
($2.5M/ct.). New Sierra Leone Minister of Mines Dr. Morie Manyeh to address
Rapaport Breakfast at JCK Vegas on Sunday from 8 a.m. Presentation will be
broadcast live on Rapaport
Facebook. Martin Rapaport
publishes “Trump Trade Policy” article.
Fancies: Fancy shapes mixed, with curves better than
squares. Ovals hot, followed by Pears and Cushions. 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: Industry focused on Las Vegas shows. Positive
sentiment after consumer confidence rebounds in May, according to The
Conference Board. Good demand for 1 ct., G-J, SI-I2 diamonds. Platinum Guild
sees strong bridal segment.
Belgium: Polished trading stable. Buyers focused on finding
bargains, but suppliers holding prices firm, awaiting Vegas show indications. Solid
demand for 0.30 to 1 ct., D-H, VS-SI diamonds. Melee market weaker. Shortage of
nice SIs. Rough sector steady, with mid-single-digit premiums on secondary
market.
Israel: Local activity slow, as many dealers have gone to Las
Vegas. Suppliers looking to assess market conditions at the show in order to
prepare inventory effectively for second half of the year. Stock levels below 2017’s
due to better sales and less supply. Good demand for nice SIs, which are
difficult to source. Rough trading stable.
India: Mumbai trading quiet, with many dealers traveling to
Las Vegas shows and some still on summer vacation. Very few foreign buyers in
the market. Volatile rupee-to-dollar exchange rate fueling caution among local
dealers. Liquidity tight amid continued bank restraint following Nirav Modi
fraud.
Hong Kong: Polished activity seeing seasonal lull. Steady demand
for 0.30 ct. to 1.99 ct., H-J, VS1-SI2 RapSpec A2+ diamonds. Rising interest in
fancy shapes, as consumers seek out lower price points. Retail sales get boost
from positive local consumer sentiment and return of Chinese tourists.
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