Polished trading quiet,
with inventory rising after slow summer. Suppliers keeping prices firm, hoping
for strong Hong Kong show. Chinese buyers shifting to lower qualities, with
steady demand for 3VG goods, as weaker yuan currency squeezes budgets. US
demand steady, but consumer sentiment down, reflected in households purchasing fewer
big-ticket items, according to University of Michigan. Macy’s and J.C. Penney
list jewelry among top sellers in 1H. Rio Tinto opens A21 pipe at Diavik mine. Okavango
1H sales volume -2% to 1.8M cts. India July polished exports +12% to $1.8B,
rough imports +26% to $1.7B. Sarine to provide rough-mapping technology to
Lucara’s Clara blockchain.
Fancies: Far East demand improving as Chinese consumers seek
Pears and Princesses at better prices. US and European demand mixed. Ovals and
Cushions are best sellers, followed by Emeralds and Pears. Marquises and
Princesses weak. Oversizes selling well. Steady demand for fine-quality 6 to 10
ct. Ovals, Pears and Emeralds, with prices firming for 3 to 5 ct. due to
shortages. US supporting market for commercial-quality, medium-priced fancies
under 1 ct. Off-make, poorly cut fancies illiquid and hard to sell, even at
very deep discounts.
United
States: Market stable, with some activityduring India
week at the New York Diamond Dealers Club. No urgency to sell at lower prices. Expectations
for stronger trading in September as retailers prepare holiday inventory. Good
demand for 1 ct., G-J, VS-SI, RapSpec A3+ diamonds. Ovals and cushions selling
well among fancy shapes.
Belgium:
Activity slowly picking up after bourses’ reopening, but many dealers
still on vacation. Sentiment slightly weak, with fewer orders than expected
after the break.European demand solid, with improvements in Germany and
the UK. More orders from Hong Kong and China, fueling some optimism for next
month’s Hong Kong Jewellery & Gem Fair. Rough market quiet, despite this
week’s Alrosa Alliance sale.
Israel:
Trading sluggish as businesses gradually return from vacation. Steady
requests for 1 ct., G-J, VS-SI diamonds, but overall not a lot of orders coming
in. Trade focused on Hong Kong show. Memo dominating the market. Rough dealers
cautious.
India:
Mood slightly down amid rumors of further bankruptcies. A number of
Antwerp-based expat Indians in Mumbai looking for SI goods and lower. Stable
demand for 0.30 to 0.50 ct., G-J, VS-SI diamonds. Stars and melee slow, with
dealers avoiding further inventory in these categories. Manufacturers
restrained and not raising polished production before Diwali break.
Hong Kong: Slight improvement, with dealers back from vacation
and preparing for next month’s show (September 12 to 18). Solid orders for 0.30
ct. and 1 ct., G-J, VS-SI goods. Higher colors (D-F) weak. Buyers interested in
VG goods as they shift to lower price points. Some concern for retail sector
during upcoming October Golden Week, after stock markets declined and Chinese
yuan currency depreciated.
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