Sentiment improving after
De Beers reduced rough prices 5%-7% at Nov. sight. Better demand for RapSpec
A3+ polished, driven by US holiday orders. Chinese demand and reduced supply
supporting 0.30 to 0.50 ct. D-G, IF-VS categories. Potential US-China trade
deal boosts expectations for Chinese New Year. 1 ct. RAPI -0.1% in Oct.; 0.30
ct. RAPI +1.5%. Surat manufacturers on Diwali vacation and expected to maintain
cautious production. Gem Diamonds sees pressure on large high-end rough, as
Letšeng 3Q average price -23% to $1,417/ct. Hong Kong 3Q net polished imports
-22% to $1.1B. Peter Meeus and IGI submit competing bids to acquire HRD
Antwerp.
Fancies: Fancy shapes soft, reflecting slowdown in overall demand.
High-end collection goods weak as dealers and consumers shift to lower price
points. Some brands with requests for high qualities paying a premium for rare
items and very well-made fancies. Pears and Ovals are the strongest shapes.
Ovals for fashion jewelry moving well in 1.50 and 2 ct., G-H, VS and H-K, SI2.
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: Steady trading,
but wholesale business is weaker than last year’s holiday season. Jewelers
looking for memo and not committing to buy. Good demand for 1 to 2 ct., G-H,
VS2-SI, RapSpec A3+ diamonds. Branded estate jewelry selling well. High-end
large diamonds slow, with 5 ct., IF-VVS, D-F category soft. Retailers starting
holiday marketing campaigns.
Belgium: Activity picked
up in November, with buyers interested in broader range of diamonds.Dealers
with the right 0.30 to 0.50 ct., D-G, VS-SI goods selling at firmer prices.
Shortage of 2 to 4 ct. nice piquè stones. Ovals and pears doing well in 1 to
1.5 ct. range. Fancy yellow diamonds also improving. Rough market improves
after De Beers price cuts.
Israel: Dealers gaining confidence
amid rise in US orders. More overseas buyers in the bourse. Far East demand
still cautious despite upturn in 0.30 to 0.50 ct., D-G, IF-VS2, RapSpec A3+ goods.
Demand centered on top-quality F-J, SI1-I1 A3+ stones. Ovals, 1.50 to 2.99 ct.,
VS2-SI2 also selling well.
India: Mumbai market
still not fully operational as dealers return from Diwali vacation. Surat
factories closed for another week or two.Dealers focused on filling US
orders and select demand from China. Shortage of top-quality SIs due to reduced
manufacturing. Cutters hoping for better profit margins after Diwali break following
De Beers rough price cuts.
Hong Kong: Protests continue to impact business for
diamond dealers and jewelry retailers. Rising expectations over potential US-China
trade deal, as dispute has significantly affected sentiment in HK/China. Jewelers
preparing online inventory for 11/11 Single’s Day sales. Steady demand for 0.30
to 0.50 ct., D-G, VS-SI goods. Other sizes seeing shift to lower colors. Consumers
tightening budgets for Jan. 25 Chinese New Year season.
|
|
|
|
|