Market sentiment improves as focus shifts to retail ahead
of Thanksgiving weekend. Jewelers preparing Black Friday promotions, with
strong emphasis on e-commerce. Department stores and mall-based retailers
offering heavy online discounts to entice customers. A lot of diamonds out on
memo. Dealers maintaining firm prices for RapSpec A3+ diamonds, with positive
trend in dossiers as reduced manufacturing has led to scarcity of better
qualities. Cutters raising polished production in anticipation of post-holiday
demand, but rough supply limited. Belgium Oct. rough imports -30% to $529M. Petra
Diamonds sells 20.08 ct. blue rough for $14.9M ($741,000/ct.).
Fancies: Some improvement in 1 ct. and larger, G-H,
VS-SI fancy shapes. Pears and Ovals are the strongest shapes. High-end
collection goods weak as dealers and consumers shift to lower price points.
Ovals for fashion jewelry moving well in 1.50 and 2.99 ct., G-H, VS and H-K,
SI2. Large Emeralds steady. Marquises and Princesses weak despite reduced
manufacturing. US sustaining market for commercial-quality, medium-priced
fancies under 1 ct. Chinese consumers seeking fancy shapes since prices are lower
than rounds. Off-make, poorly cut fancies illiquid and hard to sell even at
very deep discounts.
United States: Wholesale
market stable. Dealers waiting for feedback from retailers about large quantity
of goods out on memo. Steady demand for 0.90 to 1.50 ct., G-J, VS2-I1 diamonds
for engagement rings. Jewelers more focused on selling than buying. Emphasis on
improving e-commerce and omni-channel platforms.
Belgium: Busy
activity in Diamantkring during Antwerp Rough Diamond Days, with Martin
Rapaport presenting “Future of the Diamond Industry.” Lack of goods limiting
transactions after 3Q market slump. Polished trading better than expected, with
a lot of Israeli buyers looking for goods. Stable holiday demand for 1 to 2
ct., G-J, VS-SI diamonds. Large stones above 4 ct. slow.
Israel: Positive sentiment,
with buyers looking for specific RapSpec A3+ diamonds. Suppliers concentrating
on 1 ct., G-J, VS2-I1 stones for the US market. Dealers willing to compromise
on profitability, preferring goods that are easy to sell quickly. Ovals and pears
doing well in 1.50 to 2.99 ct. sizes. Good movement of fancy yellow diamonds
above 3 ct.
India: Surat manufacturing back to normal as most workers
have returned after Diwali break. Steady rough demand as factories raise polished
production. Shortages in select RapSpec A3+ diamonds with no fluorescence. Overseas
buyers, mainly from Israel and China, looking for SI to I1 goods, with some
improvement in 0.30 to 0.50 ct., G-J, VS-SI stones. Local jewelry market
relatively slow as wedding season begins.
Hong Kong: Diamond wholesale and jewelry retail
markets extremely quiet as political protests have escalated. Many businesses
closed or offering flexible work hours for staff. China retail picking up ahead
of Chinese New Year on January 25. Improved demand for 0.30 to 0.50 ct., F-J,
VS-SI diamonds. E-commerce offering strong growth opportunities. Uncertainty
over trade war persists.
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