Disappointing Las Vegas shows
failed to add value for diamond dealers. Jewelry wholesalers did better,
reflecting steady US market. Diamantaires focused on showcasing tech rather
than diamonds; innovations included improved traceability programs, online sales
platforms and better inventory management. Brands pushing bridal as average
engagement-ring price continues to decline. Small De Beers June sight expected as
manufacturers reduce cutting operations. Alrosa May sales -8% to $266M. Chow
Tai Fook FY sales +13% to $8.5B, profit +11% to $597M, but 2H growth flat amid
trade war uncertainty. Industry mourns the passing of former GIA president
Glenn Nord.
Fancies: Fancy shapes soft, reflecting slowdown in high-end demand.
3 to 8 ct., I-K, VS-SI1 moving better than rounds as dealers and consumers
shift to lower price points. Well-known brands and buyers with specific
requests are paying the strongest prices. Ovals for fashion jewelry moving
well, especially VS2-SI2. Demand for Radiants and Emeralds down. Marquises and
Princesses weak despite reduced manufacturing. US sustaining market for
commercial-quality, medium-priced fancies under 1 ct. Chinese consumers seeking
fancy shapes at better prices. Off-make, poorly cut fancies illiquid and hard
to sell, even at very deep discounts.
United States: Stable New
York trading as dealers return from Vegas shows. Some optimism for second half
of the year amid positive jewelry retail sentiment. Good demand for 0.70 to 1.99
ct., F-J, VS2-SI2 diamonds. Buyers lacking urgency. Memo houses doing well, as jewelers
are holding less in-house inventory.
Belgium:
Polished trading slow during short week due to Whit Monday public
holiday. Little reaction to Vegas shows, as fewer suppliers attended.
Commercial-quality G-J, VS-SI diamonds selling better than collection goods
(D-F, IF-VVS). Buyers looking at price points and avoiding inventory buildup.
Rough trading cautious ahead of Alrosa sale (June 13 to 19) and De Beers sight
(June 17 to 21).
Israel: Market quiet, with concern that conditions
will worsen before they get better. Dealers at the JCK show were looking for
buying opportunities but cautious about falling diamond prices. Focus remains
on mid-range American goods. Large stones weak. Thirty companies participating
in Hong Kong show (June 20 to 23), hoping for improvement in Chinese demand.
India: Weak sentiment, with manufacturers under pressure due
to sluggish polished demand and tight profit margins. Factories operating at
reduced capacity, and some manufacturers slashing salaries of polished workers.
Fewer foreign buyers in Mumbai after Las Vegas shows. Steady orders for 0.30 to
0.99 ct., G-J, VS-SI diamonds, but prices continue to soften. Concern that
rising demand for synthetics is cannibalizing small-stone market.
Hong Kong: Polished trading slow amid buyers’ reluctance to
invest in down-trending market. Sentiment weak due to US-China trade war and
slow global trading. Steady interest in 0.30 to 0.50 ct., F-I, VS-SI RapSpec
A3+ diamonds, but excess supply still affecting prices. Shortage of top-quality
SIs (3X, no-fluorescence, no black, green or milky). Dealers preparing for next
week’s show.
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