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India: Local Dealers Under Pressure

As of October 11

Oct 11, 2018 10:58 AM   By Rapaport News
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Slight improvement in trading, with more foreign buyers in Mumbai for Bharat Diamond Week (Oct. 8 to 10). Local dealers under pressure due to weak rupee (-14% since beginning of year to INR 74.27/$1 on Oct. 10). Smaller manufacturers closing factories early for Diwali as currency decline, bank caution and sluggish demand lead to tight liquidity. Some cutters also at risk after loaning to Surat textile company involved in $70 million bankruptcy. Jewelry sales improving ahead of Diwali festival, which begins Nov. 7.

Round  
-1 point: Good demand: $300-$650 whites.
-2 point: Fair demand: $300-$450 whites.
2-7 point: Fair demand: $300-$450 whites.
8-18 point: Fair demand: $350-$600 whites.
20 points: Fair demand: +$500 whites.
25 points: Good demand: +$500 whites.
33 points: Good demand: +$700 whites.
  Fair demand: -$700 whites.
50 points: Good demand: +$1000 whites.
  Fair demand: -$1000 whites.
75 points: Fair demand: +$1000 whites.
1 carat+: Good demand: +$2000 whites and lower colors.
  Fair demand: $1200-$2000 whites.
   
Princess  
-3 point: Fair demand: $200-$300 whites.
+3 point: Fair demand: $200-$300 whites.
+9-18 point: Fair demand: -$400 whites.
20 point: Fair demand: $400-$500 whites.
25 point: Fair demand: -$500 whites.
33 point: Fair demand: $500-$800 whites.
50 point: Fair demand: +$800 whites.
75 point: Fair demand: $900-$1,200 whites.
1 carat+: Fair demand: +$1,500 whites.
   
Marquise  
-6 point: Fair demand: $400-$550 whites.
+7-18 point: Fair demand: $500-$800 whites.
20 point: Fair demand: $300-$500 whites.
25 point: Fair demand: $350-$550 whites.
33 point: Fair demand: $600-$900 whites.
50 point: Fair demand: $800-$1200 whites.
75 point: Fair demand: $900-$1300 whites.
1 carat+: Good demand: +$1200 whites.
   
Tapers & Baguettes  
  Fair demand: $350-$400 2mm-2.5mm whites.
                        $450-$500 2.5mm-3mm whites.
                        $600-$700 3mm-4mm whites.
                        $700-$800 4mm-5mm whites.
                        $800-$1,000 +5mm whites.
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