Sentiment mixed, with slow trading before Easter and Passover. Selective buyers looking for 3X (X3) fine VS-SI diamonds. Steady US demand for 1 to 1.50 ct. goods ahead of summer wedding season. Diamond cutters reducing production and seeking to offload excess 0.30 to 0.50 ct. inventory. Alrosa 1Q sales -37% to $988M, rough-price index -3%. Chow Tai Fook and Luk Fook signal slowdown during Chinese New Year, with decline in gem-set jewelry sales. Christie’s NY garners $30M (86% by lot). Sotheby’s NY sells $22M (78% by lot). US considers regulations requiring source-of-origin disclosure. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON APRIL 26 DUE TO THE JEWISH HOLIDAY OF PASSOVER.
Fancies: Fancy shapes stable, driven by US and
European demand. Ovals for fashion jewelry moving well. Supply shortage
supporting prices for Pears, with 1.50 ct. the strongest category. Radiants
improving. Marquises and Princesses weak, despite reduced manufacturing.
Excellent-cut Ovals, Cushions, Pears and Emeralds doing nicely, with steady
orders for fine-quality goods in 6 to 10 ct. Chinese consumers seeking fancy
shapes at better prices. US sustaining 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: Polished
market stable, with steady demand for 1 ct., G-J, VS-SI goods. Buyers looking
for fine-grade VS-SI (no black or BGM – brown, green, milky), but they are hard
to find even at firm prices. Large volume of lower-quality old stock that suppliers
are willing to discount. Retailers reducing in-store inventory due to improved
omni-channel platforms, increased demand for customized jewelry, and rise in
memo transactions. Jewelers beginning promotions for Mother’s Day (May 12).
Belgium: Dealer
trading quiet ahead of Easter and Passover holidays. Market stabilizing
as shortages appear: Manufacturers have reduced polished production, and miners
are cutting back rough supply. Steady demand for 1 to 2.99 ct., VS-SI goods.
Larger stones slow. Diamonds with fluorescence moving better as discounts
entice buyers.
Israel: Trading
slow ahead of Passover, with the bourse partially closed next week for the
festival (April 20 to 26). Dealers optimistic that reduced rough supply will
ease market pressure and create some polished shortages. Good demand for round,
0.70 to 1.99 ct., G-K, SI diamonds. Excellent-cut pears and ovals in short
supply, with 1.50 ct., VS-SI the strongest category. Dealers looking for
bargains in India but struggling to find the right goods.
India: Polished
market slow amid tight liquidity. Business activity disrupted by national
elections. Parcels of 0.30 to 0.50 ct. diamonds selling better than certs.
Manufacturers reducing polished production, leading to selective shortages. Steady
US demand for 1 ct., SI-I1 diamonds supporting the trade. Dealers expecting more
trading to shift from Mumbai to Surat in coming years.
Hong Kong: Activity seasonally slow. Steady demand for 1 ct., G-M, VS-SI, 3X
diamonds. Interest in 0.30 ct. stones has softened. Jewelers marketing cheaper
items during slow period. Many are rolling out new collections for Mother’s
Day. Consumer sentiment improving, after China’s 1Q gross domestic product (GDP)
growth beats forecasts.
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