|
|
Rapaport Weekly Market Comment
Mar 25, 2021 11:30 AM
By Rapaport News
|
|
|
Polished trading seasonally slow ahead of Passover and Easter holidays. Some distress over another Covid-19 wave in Europe and India. Dealers still confident for 2021. Projections show strong 2Q growth compared to 2020 lockdown period. Vaccine rollout, stimulus checks fueling optimism among US dealers and jewelers. GIA backlog causing inventory concerns. Manufacturer profit margins tightening following robust rough buying and price hikes. De Beers limiting goods during March sight. Industry mourns passing of iconic Tiffany & Co. designer Elsa Peretti and former Sterling Jewelers CEO Nate Light.
Fancies: Market for fancies seeing upturn. 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: Polished trading slowing slightly after rapid growth in February and beginning of March. Retail sales also softer following strong start to the year. Dealers and jewelers optimistic for improvement after Passover and Easter holidays as stimulus checks boost consumer spending. Good demand for 1 to 2 ct., G-I, I1-I2 diamonds. Top-quality fancy shapes in 2 to 3 ct. range selling well, with shortages supporting prices.
Belgium: Market stable but somewhat quieter than before. Concern growing over increase in Covid-19 cases and pending lockdown. Demand robust for top-make, 2 to 4 ct. diamonds. Large pears and ovals with nice makes also doing well. Rough trading slower. Fewer goods available at De Beers sight.
Israel: Business activity slackening despite lifting of pandemic restrictions. Shorter week due to public holiday for national elections. Dealers also winding down ahead of Passover next week. Demand selective. I-K color ranges improving. 0.30 to 0.50 ct., D-F, IF-VS2 softer than a month ago.
India: Mixed sentiment amid drop in trading in recent weeks. Increase in Covid-19 cases fueling caution even though business not yet affected. More polished becoming available due to rise in manufacturing since the beginning of the year. Scarcities remain in certain categories. Cutters wary after recent rough-price hikes led to reduced rough buying and slimmer profit margins.
Hong Kong: Dealer market relatively quiet. Steady demand for 0.30 to 0.80 ct., F-J, VS-SI goods with dossiers; slightly less interest in 1 ct. and larger diamonds. Local retail sluggish due to ongoing lack of tourism and slow rollout of vaccinations. Mainland China more optimistic following retail sector’s recovery from last year’s lows.
|
|
|
|
|
|
|
|
|
|
Tags:
Rapaport News
|
|
|
|
|
|
|
|
|
|
|