Mixed sentiment as trading has slowed from previous weeks. Polished inventory increasing after strong Dec.-Jan. rough buying. High expectations for China retail recovery during Chinese New Year. US Jan. consumer confidence +3%, boosted by stimulus package, says Conference Board. Concerns due to rising Covid-19 infections, 6.7% unemployment, and slow vaccine rollout. US jewelry trade -2.2% in 4Q to 24,233 businesses, JBT reports. LVMH 2020 jewelry & watch sales -24% to $4.1B. De Beers 4Q sales volume -1% to 6.9M cts., 2020 rough price index -10%. JCK Las Vegas show postponed to August. Martin Rapaport webinar presentation “Surfing Waves of Change” to take place on Feb. 4. Register here.
Fancies: Stable 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. Rise in orders for Pears, Emeralds and Radiants above 2 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: Polished trading stable, with good demand for 1 to 2 ct., G-H, VS diamonds. Large-stone market has softened from previous weeks. Some dealers giving extended payment terms to secure orders. Strong emphasis on e-commerce at B2B (trade) and B2C (consumer) levels. Jewelers focused on Valentine’s Day promotions.
Belgium: Fewer people active in the diamond district amid renewed coronavirus concerns. Far East demand has slowed as Chinese New Year orders have been completed. Steady US demand for 1-carat diamonds. Shortage of top-quality large stones. Rough-market sentiment positive after last week’s De Beers and Alrosa sales.
Israel: Activity limited due to Covid-19 restrictions and airport closure. Slowdown in key categories, including 0.50 to 0.70 ct., D-H, IF-VS2 stones. Good demand for 0.30 to 0.50 ct., I-M, SI and lower. Improving market for 3 ct., D, IF signals shift following weakness in previous years. Polished exports -31% to $2.37 billion in 2020, but more than trebled in December to $189.3 million.
India: Positive sentiment, with steady US demand. Suppliers have completed orders for Chinese New Year. Dossiers in demand for local dealer market. Manufacturers raising production levels after strong rough buying in December-January. GJEPC plans in-person IIJS Signature show for April.
Hong Kong: Rising expectations for retail sales in mainland China during lunar festival shopping season. Outlook for Hong Kong weak due to travel restrictions that have kept tourist shoppers away. Emphasis is on engagement rings. Wholesale trading slowing as the holiday approaches. Good demand for 1ct., D-I, VVS-SI, VG+, GIA-graded stones for the season.
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