Trading centers quiet during Jewish holiday
period. Hong Kong show reflects uncertainty over US-China trade tensions, with
Typhoon Mangkhut disrupting activity at the fair. Slower growth expected in 2H
as Chinese consumer sentiment weakens ahead of Oct. 1 Golden Week. Steady
demand for 0.30 to 1 ct., G-L, VS-SI diamonds. Rough market cautious, with
lower supply for pre-Diwali manufacturing. Johan Dippenaar resigns as CEO of
Petra Diamonds after FY sales +25% to $495M, loss of $203M vs. profit of $21M. The
Rapaport Price List will not be published next Friday (Sep. 28), and Rapaport
offices will be closed on Monday and Tuesday (Sep. 24-25) for the Jewish
festival of Sukkot.
Fancies:
Far East demand improving as Chinese consumers seek Pears and Princesses at
better prices. US and European demand mixed. Ovals and Cushions are best
sellers, followed by Emeralds and Pears. Marquises and Princesses weak.
Oversizes selling well. Steady demand for fine-quality 6 to 10 ct. Ovals, Pears
and Emeralds, with prices firming for 3 to 5 ct. due to shortages. US
supporting market for commercial-quality, medium-priced fancies under 1 ct.
Off-make, poorly cut fancies illiquid and hard to sell, even at very deep
discounts.
Publication of the global market
comments will resume October 4.
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