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Rapaport Weekly Market Comment
Dec 31, 2020 11:30 AM
By Rapaport News
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Sentiment mixed as Mastercard reports holiday jewelry sales -4.3%, online +45%; general retail +3% driven by +49% growth in e-commerce. Diamond markets quiet due to end-of-year break. Diamantaires expect steady post-season demand. Manufacturers raising production after inventory levels declined in 2H. Focus on Chinese New Year orders leading to improvement in 0.30 to 0.89 ct., F-H, VS. Safdico buys 6% stake in Lucapa Diamond Company for $2.1M and signs deal to purchase all production from Mothae mine. Bharat Diamond Bourse overturns ban on synthetics; GJEPC adds lab-grown membership category. Rapaport wishes everyone a happy, healthy, prosperous and peaceful New Year.
Fancies: Rising demand for select fancy shapes as consumers seek alternative designs at more affordable prices than rounds. Dealers hoping for increased sales of fancy-shape engagement rings. Ovals, Pears and Emeralds strong in 1.50 to 10 ct. Cushion, Princess and Marquise improving. Excellent cuts and nice shapes in demand and selling at premiums. Steady orders in China helping the market. High availability of fancies below 1 ct. Off-make, poorly cut fancies illiquid and difficult to sell.
United States: Dealer trading quiet with wholesale market off between Christmas and New Year. Retailers with strong e-commerce programs did well over the holidays. Virtual customer engagement and social media marketing key elements this shopping season. Bridal remains mainstay for the trade. Covid-19 concerns linger as infection rates continue to rise.
Belgium: Very little trading; bourses closed until January 3. Most dealers on vacation but remaining in Antwerp due to Covid-19 restrictions.
Israel: Activity quiet due to US and European holidays and another nationwide coronavirus lockdown. Israel Diamond Exchange elections delayed due to COVID-19. Dealers waiting for memo returns to assess inventory needs. Focus now on Valentine’s Day and on Far East demand for Chinese New Year.
India: Sentiment positive with Domestic and Far East orders. Non-certs selling well. Improving local market for 0.20 to 0.50 ct., G-J, SI-I1 goods in parcels. Shortage of select popular items supporting prices. Rough trading steady. Manufacturers raising polished production ahead of anticipated 1Q demand.
Hong Kong: Wholesale activity down during Christmas-New Year period. Dealers focusing on Chinese New Year. Retailers cautious due to weak Hong Kong market. Major jewelers seeking to expand China presence. Rising expectations for release of pent-up demand during February 12 lunar festival.
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Tags:
Rapaport News
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