|
|
Rapaport Weekly Market Comment
Apr 1, 2021 11:30 AM
By Rapaport News
|
|
|
Diamond market quiet during Passover, Easter and India’s Holi festival. Dealers expecting stable 2Q trading. Some concern that rising inventory levels may impact prices during slower season. More polished becoming available due to increase in manufacturing since beginning of the year, as evidenced by GIA backlog. Rough demand expected to drop after robust 1Q buying. 1 ct. RAPI +1.5% in March. Index now above pre-pandemic levels. Optimistic outlook for jewelry sales in US and mainland China. Lack of travel continues to impact tourist retail centers like Hong Kong and Europe. Chow Sang Sang 2020 revenue -15% to $1.9B, profit -15% to $70M.
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.
The market comments by country will return next week.
|
|
|
|
|
|
|
|
|
|
Tags:
Rapaport News
|
|
|
|
|
|
|
|
|
|
|