Polished trading improving, with US holiday
orders driving sales. Buyers looking for bargains in Mumbai as weak currency
and tighter bank lending put pressure on Indian dealers. Surat factories
closing early for Diwali, with large inventories of melee and 30-pointers.
Innovative jewelers gaining market share as JBT reports 226 businesses closed and
51 opened in 3Q. China/Hong Kong jewelry retail better than expected, with gold
sales driving Chow Tai Fook 2Q double-digit growth. Rough trading slow. Alrosa
sales volume -11% to 6.7M cts., production +2% to 10.5M cts. De Beers sales
volume -28% to 5M cts., production -5% to 8.7M cts. Lucara to launch sales
using Clara system.
Fancies: Far East demand improving as Chinese consumers seek fancy shapes
at better prices. US and European demand mixed. Ovals and Cushions are best
sellers, followed by Emeralds and Pears. Radiants improving. 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.
United States: Trading sluggish for this time of year. Single-stone market steady.
Melee weak. Demand firm for large diamonds in lower qualities. High-end large stones
stable. Jewelers preparing for holiday season, with a lot of goods on memo.
Belgium: Positive sentiment amid pre-holiday season trading. 1 to 2
ct., G-J, VS-SI selling well to satisfy US and European demand. Fancy shapes
stable, with Ovals and Pears the best sellers. Rough market cautious as
inventory levels rise before Diwali.
Israel: Market improving but there is concern that global slowdown and
tight Indian liquidity will impact trading. Steady demand for 1 ct., G-H,
VS-SI, RapSpec A3+ diamonds. Focus on US before holiday season, with
Continental Buying Group (CBG) visiting Israel Diamond Exchange. Dealers to
sell to Chinese consumers through AliExpress. Rough and polished buyers seeing
opportunities in India as Surat manufacturers reduce production.
India: Stronger activity in
Mumbai during India Diamond Week, with foreign buyers looking for goods before
Nov. 7 Diwali break. Solid US orders for 1 ct., G-J, VS-SI diamonds. Chinese
cautious and shifting to SI-I1 clarities. Small stones slow, but VVS stars and
melee better. Small-scale manufacturers under pressure from currency
depreciation, tighter bank lending and high rough prices. Reserved outlook for
Diwali as rupee-based gold prices rise.
Hong Kong: Slight boost in trading, with stable demand for 0.50 to 1 ct., D-H,
VS-SI goods. Gradual shift to lower price points, with increasing orders for SI
clarities and fancy yellows. Jewelers holding large inventory and avoiding bulk
purchases due to unfavorable exchange rates. Retail sector steady, despite
uncertainty over trade war and weaker currency.
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