Positive trading amid US and China retail recovery. Jewelry continues to perform well as consumers seek meaningful products that retain value. US jewelers optimistic after Senate approves $1.9 trillion stimulus bill and as vaccine rollout gains momentum. Jewelry sales +6% in Feb., Mastercard reports. Large manufacturers emerging from pandemic with improved liquidity, profit and market share. Miners seeing robust rough demand ahead of 2Q seasonal slowdown. De Beers Feb. sales +52% to $550M, Alrosa +5% to $361M. Petra Diamonds sells 299.3 ct. rough to Stargems for $12.2M ($40,695/ct.). Israel Feb. rough exports +21% to $124M with boost from new UAE trade deal.
Fancies: Market for fancies improving, with some higher prices as consumers seek alternative shapes at more affordable prices than rounds. Dealers witnessing increased sales of fancy-shape engagement rings. Rise in orders for Ovals, Pears, Emeralds and Radiants above 2 ct. Cushion, Princess and Marquise improving. Buyers showing preference for elongated shapes with the right proportions. Excellent cuts in demand and selling at premiums. Steady orders in China helping the market. Off-make, poorly cut fancies illiquid and difficult to sell.
United States: Dealer market upbeat. Steady orders for 1 to 2 ct., D-I, VS-SI goods. Fancies also moving well, particularly emeralds and elongated ovals, cushions and radiants. Traders finding it difficult to replace sold items. Scarcities persist despite strong rough buying over last three months.
Belgium: Positive sentiment amid steady turnover. Inventory levels down. Dealers looking for goods to fill orders. 1 to 2 ct., D-F, VS-SIs are best-sellers. Stable demand for 3 ct., I-K, VVS-SI. Rough trading robust; some dealers struggling to find supply.
Israel: Market returning to regular routine as economy gradually opens after lockdown. Bourse to go back to full activity on Sunday (March 14). Dealers hoping to resume business travel in next two weeks ahead of Passover, particularly to strengthen ties with US buyers. Solid interest in 1 ct., G-H, VS-SI diamonds. Finding nice fancy shapes proving difficult.
India: Dealers and manufacturers optimistic over good demand from US and Far East buyers. Chinese retailers replenishing inventory and seeing steady orders for round, 0.30 to 1 ct., D-I, VS-SI diamonds following lunar new year. Strong market for melee and uncertified 0.20 ct. items. Surat polished production at full capacity. Manufacturers continue to shift toward lab-grown as interest in the category continues to grow. Good domestic jewelry sales.
Hong Kong: Polished trading muted but stable following peak season. Positive China retail recovery spurring optimism in wholesale sector. Steady demand for GIA-graded, 1 ct., D-I, VVS-SI, 3X diamonds. Nice SIs in short supply. Engagement rings with 0.80 to 1 ct. center stones popular locally. Colored gemstones moving well as consumers tighten budgets.
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