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Rapaport Weekly Market Comment
Sep 23, 2021 10:30 AM
By Rapaport News
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Trading quiet during Jewish and Indian festivals. China slowdown injects caution into the market. US retail upbeat. Nov.-Dec. holiday jewelry sales expected to climb 59% vs. 2020 figures and +53% vs. 2019, says MasterCard SpendingPulse. Rough market steady. Alrosa Aug. sales +41% to $306M. Polished inventory levels increasing ahead of Nov. 4 Diwali break. Six-week backlog at GIA Mumbai lab. Investment firm Compass Diversified acquires Lugano Diamonds & Jewelry for $256M. World Diamond Council launches upgraded system of warranties. Responsible Jewellery Council to develop standard for lab-grown materials. Rapaport offices will be closed Sep. 27-28 for the Jewish holidays.
Fancies: Market robust. Prices firming across most sizes and categories amid shortages and growing fancy demand. Retailers offering wider product ranges as consumers seek alternative shapes. Dealers seeing increased sales of fancy-shape engagement rings. Rise in orders for Ovals, Pears, Emeralds, Princesses, long Radiants and Marquises. Ovals and Cushions closing price gap with Rounds. Oversizes trading at higher prices than usual. Excellent cuts popular and commanding premiums. Steady orders in China helping the market. Off-make, poorly cut fancies illiquid and difficult to sell.
The country market comments will return on October 7.
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Tags:
Rapaport News
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