Hong Kong show
signals shift to lower price points. Chinese dealers and consumers focused on
domestic spending, with cautious Far East demand affecting sentiment. Steady
interest in 0.30 to 1.99 ct., G-I, SI-I1, RapSpec A3+ diamonds, and reduced
supply supporting price levels. 3 ct. and larger, D-F, VVS+ weak. Improved
liquidity for inexpensive melee as Rapaport Melee Auction sells $6M (84% by
value, 76% by lot). De Beers offers 30% buybacks at Sep. sight. India Aug. rough
imports -4% to $861M. Rapaport offices will be closed on Monday and Tuesday
(Sep. 30-Oct. 1) due to Rosh Hashanah. Best wishes to all for a happy, healthy,
prosperous and peaceful Jewish New Year.
Fancies: Fancy
shapes soft, reflecting slowdown in overall demand. 3 to 8 ct., I-K, VS-SI1
moving better than rounds as dealers and consumers shift to lower price points.
Well-known brands are paying highest prices, as are buyers with specific
requests. Ovals for fashion jewelry moving well, especially 1.50 and 2 ct.,
G-H, VS and H-K, SI2. Marquises and Princesses weak despite reduced
manufacturing. US sustaining market for commercial-quality, medium-priced
fancies under 1 ct. Chinese consumers seeking fancy shapes at better prices.
Off-make, poorly cut fancies illiquid and hard to sell, even at very deep
discounts.
United States: Stable
bridal demand ahead of peak engagement season. Retailers preparing inventories
for holidays amid uncertain consumer sentiment due to trade war. Profit margins
slim. Orders for D-F, IF-VVS goods down in all shapes and sizes. Better
movement in 1 to 1.99 ct., G-H, VS-I2. Steady interest in cushions and ovals
under 2 ct. Retailers preferring to take items on memo rather than purchasing.
Belgium: Sentiment subdued
after slow Hong Kong show. Market expected to remain quiet during upcoming
Jewish holiday period. Dealers concerned about exposure to the difficult Far
East market. Steady demand for 0.30 to 0.70 ct., G-H, SI1-SI2 diamonds.
Israel: Polished market
quiet. Smaller dealers fared better than larger companies at Hong Kong fair.
Commercial and select SI goods moving. 3 ct. and larger, D-F, IF-VVS diamonds sluggish.
Bourse to close next Monday and Tuesday for Rosh Hashanah.
India: Trade cautious,
but sales improving in lower price categories. Dealers saw limited sales at
Hong Kong show due to slower traffic and drop in Chinese demand. Decrease in
supply supporting the market as manufacturers reduce polished output. More
cutters entering lab-grown as they seek to improve profit margins and
liquidity.
Hong Kong: Low
expectations for Oct. 1 Golden Week as both tourist spending and Chinese demand
have declined. Fewer visitors at Hong Kong fair due to protests and weak Far
East jewelry sector. Some Chinese retailers gradually returning to market after
long period without buying, as they anticipate sales over holiday season and
Chinese New Year.
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