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Rapaport Weekly Market Comment
May 8, 2019 10:58 AM
By Rapaport News
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Dealers preparing for Las Vegas shows hoping steady
US retail market will stimulate diamond trading. Rising expectations for
GemGenève fair amid positive luxury demand. Good opportunities for high-end
buyers after 3 to 5 ct. prices dropped significantly (3 ct. RAPI -6.1% since
Jan. 1). Rough trading cautious with high auction prices and tight
manufacturing profits. Sightholders anticipate stable prices and volumes at
next week’s De Beers sight. India March polished exports -8% to $1.9B, rough
imports -16% to $1.4B. Hong Kong 1Q polished imports -3% to $5B, polished
exports +9% to $3.9B. Signet debuts synthetic diamonds on James Allen website.
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: Mixed
mood among dealers as some categories sell better than others. Steady orders
for bread-and-butter 1 ct., G-H, VS-SI diamonds for engagement rings. Top-quality
large stones weak. Retailers pushing fashion jewelry amid strong expectations
for Mother’s Day season. New JCK venue creating buzz as traders prepare for Las
Vegas shows.
Belgium: Dealers getting better
prices and profits by buying directly from manufacturers. Large volumes of old
stock available and selling at deeper discounts. Buyers insisting on no fluorescence.
Good demand for excellent-cut SIs. Rough activity cautious ahead of next week’s
De Beers sight and Antwerp Rough Diamond Days (May 15 to 16).
Israel: Quiet trading during short week due to
Memorial Day and Independence Day. Some movement in large stones at lower
prices. Dealers traveling to GemGenève to assess high-end opportunities. Suppliers
keeping stock low to reduce risk amid declining prices, weak economic sentiment
and threat of synthetics. Solid demand for 0.70 to 1.99 ct., G-J, VS-SI goods.
India: Sentiment weak due to reduced bank
credit and fewer orders than usual. Market dynamic driven by supply rather than
demand. Manufacturers reducing capacity. Steady interest in 0.70 to 1.50 ct.,
G-J, SIs. Stable gold jewelry market for May 7 Akshaya Tritiya festival.
Hong Kong: Wholesale
sector cautious amid renewed US tariff fears. Good dealer demand for 1 ct., D-H, VS-SI diamonds. Rise
in tourist arrivals boosts May 1 Labor Day activity. China 1Q retail sales beat
expectations. Hong Kong 1Q polished exports to China down 15% to $688M.
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Tags:
Rapaport News
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