Market Comment

News:

US President Donald Trump puts diamonds on list of possible tariff exemptions. Price gap between US- and India-based stones narrows. Independent American retailers seeing steady demand and taking goods on memo. Large US dealers doing better than small ones. Industry preparing for important Hong Kong show, with success dependent on Chinese retailers’ attendance. Anglo American sticks with De Beers sale plan following merger with Teck Resources. Bain and Deloitte forecast holiday retail growth of 3% to 4%. Belgium Aug. polished exports -21% YOY to $229M, rough imports +6% to $295M. Dutch discount retailer Zeeman launches $35 pendants with 0.10 to 0.12 ct., D-F, VS2, synthetic diamonds.

Fancies:

Long fancy shapes such as Oval, Marquise and Emerald doing better than rounds in 2 ct. and larger. High-quality Marquises, long Radiants and long Cushions in short supply. Marquises are most expensive fancy shapes. Long Cushions easy to sell and trading at 20% to 25% premium over square ones. Solid US market for elongated Ovals of good shape and quality in D-I, VS-SI categories. US Oval prices 5% to 10% higher than those of Pears. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.