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What Happened in Vegas

Jun 5, 2012 12:28 PM   By Avi Krawitz
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RAPAPORT... The JCK Las Vegas show ended on Monday with mixed reports from diamond ‎exhibitors. Overall, the show was okay. While it did not signal a significant boom in ‎trading, most left satisfied that the U.S. market is stable in the near term.‎

Here are some of the trends that emerged at the show. ‎
  • Square shape fancies were strong and selling at low discounts. Larger ‎discount on princess cuts. There is a shortage of well-made fancies in the ‎market.
  • Rounds weaker. Prices relatively firm.  Clean makes, Triple Ex goods in ‎demand. Best demand for SI goods, with shortage in supply.‎
  • Polished suppliers holding prices firm due to high rough prices. Little to ‎no profitability on manufacturing.‎
  • BHP Billiton rough prices fell about 7 percent at its recent tender. Cutters hope De Beers ‎lower prices at next week’s Diamond Trading Company (DTC) sight, but ‎don’t expect it.‎
  • Luxury traders had a strong show. Similar positive feedback from the ‎Couture and Antique shows.  ‎
  • The U.S. market okay, not booming, but a source of stability for the global ‎market. ‎
  • Indians were not at the show, and it was difficult to sell to those that were. ‎Some expect them to have more of an impact at the June Hong Kong ‎show. ‎
  • Strong buying by Israelis.  ‎
  • Belgians are weak in the polished market.‎
  • Many are looking toward the June Hong Kong show, that begins on June 21, as more of a market ‎indicator for the second half of the year, as they are not sure about the ‎current state of Far East demand. ‎
Tags: Avi Krawitz, diamonds, JCK Las Vegas, Jewelry, Rapaport
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