Polished trading sluggish with Far East dealers on
holiday for Chinese New Year. Reduced expectations for Chinese Year of the Pig
after 4Q slowdown. US buyers cautious as Conference Board consumer confidence index
falls 5% to 18-month low, due to volatile stock market and government shutdown.
High-end luxury doing well. LVMH 4Q jewelry and watch revenue +8% to $1.3B. Rough
premiums decline, with continued weakness in low-value goods at $505M De Beers
sight. Petra Diamonds 1H sales +8% to $207M, production +10% to 2M cts.,
average price -6% to $119/ct. Rapaport Group announces trip to Sierra Leone (April 1-4) to highlight
artisanal mining industry.
Fancies: Fancy-shape market stable, driven by US
and European demand for fashion jewelry. Excellent-cut ovals, pears and
emeralds doing well. Supply shortage supporting prices for Pears. Radiants
improving. Marquises and Princesses weak. Steady demand for fine-quality 6 to
10 ct. Ovals, Pears and Emeralds, with prices firming for 3 to 5 ct. due to
shortages. Chinese consumers seeking fancy shapes at better prices. 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: New York
market quieter than usual for this time of year. Smaller dealers relying on
memo calls rather than sales. Steady interest in 1 to 1.50 ct., G-H, SI goods. Large-stone
demand softer. Jewelers concentrating on Valentine’s Day promotions, with focus
on engagement rings and anniversary gifts.
Belgium: Polished trading
steady and dealers relatively optimistic. Steady demand for 1 ct., D-F, VS-SI
goods. 1.50 to 2 ct., D-G, VS-SI also doing well. 5 ct. and larger diamonds slower.
Rough trading cautious following last week’s De Beers sight. Cutters and rough
dealers concerned about profitability since premiums on the secondary market declined
in January.
Israel: Busy activity in
the bourse during International Diamond Week. Niche suppliers who are able to
provide curated products for their customers are doing well. Buyers looking to
fill existing orders rather than build inventory. Steady demand for 1 to 1.50
ct., G-H, VS-SI, RapSpec A3+ diamonds. Improving demand for princess-cut, 1.50
to 2.99 ct., G-I, VS2-SI1.
India: Dealers and cutters
cautious as US restocking is slower than expected.Low volume of new goods
coming to the market, with significant slowdown in diamond manufacturing. Inventory
levels high and suppliers offering old stock at deeper discounts. Steady demand
for SI-I1 clarity goods. Concerns about tight profit margins and reduced bank
credit. Rough trading relatively slow following De Beers sight.
Hong Kong: Diamond market quiet, with dealers on
vacation during Chinese New Year. Business expected to resume in mid-February
ahead of Hong Kong show. Jewelry retail sales stable, with steady engagement
ring demand for the Lunar festival and Valentine’s Day. Good demand for 1 ct.,
F-H, VS-SI, 3X goods. Gemstones and fancy-color diamonds selling well for the
season, particularly rubies and emeralds.
|
|
|
|
|