Hong Kong show opens with rising expectations for Chinese demand after Las Vegas demonstrates positive US market.
Limited inventory supporting prices for 3 ct. and larger diamonds. Rough trading steady during De Beers sight, despite tight manufacturing profit margins. Consolidation among cutters and dealers expected as high rough prices reduce profitability.
India May polished exports +8% to $2.2B. Antwerp’s AWDC unveils automated polishing technology.
- Fancy shapes mixed, with curves better than squares. Ovals hot, followed by Emeralds, Pears and Cushions. 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.
- Far East demand improving as consumers seek fancy shapes at better prices.
- Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts.
- Steady New York dealer trading ahead of July break.
- Retail and wholesale performing better than last year.
- Retailers limiting purchases to replacements for sold stock.
- Jewelers focused on preparing collections for fall and holiday seasons.
- Below 0.30 ct., G-H, SI doing well, but difficult to find the right goods to fill orders.
- Stable demand, with shortages in select categories.
- Suppliers maintaining firm prices.
- Buyers shifting to VG to get better discount.
- Liquidity concerns as banks continue to refuse diamond-industry lending.
- Rough trading steady during De Beers sight, with boxes selling at mid-single-digit premiums on the secondary market.
- Optimistic mood in the bourse.
- Focus shifts to Far East after Las Vegas shows.
- Large orders for 1 ct., H-L, VVS2-SI2 from Hong Kong jewelers.
- Good demand, with firmer prices for 1 ct., F-J, VS1-VS2. 0.50 and 0.70 ct. SIs improving.
- Small manufacturers struggling to source rough at current price levels.
- Weaker rupee (INR 68 = $1) negatively impacting suppliers to the local market, but helping exporters.
- Large manufacturers raising polished production to fill shortages.
- New available output garners stronger prices than existing stock. Jewelry retail sales stagnant.
- Dealers focused on this week’s show (June 21 to 24).
- Jewelers increasing inventory and fueling optimism for the fair.
- Retail buyers pushing for higher discounts for 0.30, 0.50 and 1 ct., D-G, VS goods.
- Suppliers holding prices firm for those categories.
- Rising concern about De Beers’ entry into synthetic-diamond jewelry.