News: Diamond market segmented. Smaller goods stable; larger stones above 0.50 ct. weak amid price uncertainty. US demand cautious due to sluggish economic outlook, but dealers see steady orders at Centurion show in Arizona. NRF expects jewelry to top list of Valentine’s Day gifts but predicts lower sales than last year. China recovery boosting trader sentiment. Chinese luxury market improving after Covid-19 lockdowns led to 10%-15% decline in local jewelry segment for 2022, Bain reports. Titan Company FY3Q sales +16% to $1.4B, profit -10% to $123M. Rough trading slow; manufacturers keeping production low due to high polished inventory. Sotheby’s brings in $13M at Hong Kong sale.
Fancies: Fashion driving demand for elongated Ovals, Emeralds and Radiants. Goods with medium and short ratios are weak and declining in value. Slow market for 0.30 to 1.20 ct. diamonds. 1.25 ct. and larger, F-J, VS-SI categories stable. Supply shortages of well-cut fancies supporting prices. Oval is leading shape, followed by Radiant, Emerald, Pear, Cushion and Marquise. Retailers offering broader product ranges as consumers seek alternative cuts. Excellent shapes commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid and difficult to sell.
United States:
Sentiment up after Centurion show demonstrates stable demand. Fancy-colored diamonds sold well. Retail jewelers buying, but not in the significant quantities typical of January-February. Elongated fancy shapes above 1.50 ct. hot; cushions, ovals and radiants most popular. Some optimism for Valentine’s Day.
Belgium:
Busier activity in Antwerp but fewer orders than usual for first quarter. Steady demand from European luxury houses following robust holiday season for high-end retail. Market stable for 0.50 to 1 ct., G-I, VVS2, 3X diamonds. Above 1 ct. slightly weaker. Smaller rough doing better than large goods.
Israel:
Market cautious. Large volume of goods available despite decline in Indian manufacturing. Fancy shapes with excellent proportions moving well. Slower US demand for this time of year. Suppliers to Far East seeing rise in business. Some dealers traveling to Dubai for next week’s Jewellery, Gem & Technology (JGT) show.
India:
Slowdown in US orders affecting India polished trading. Domestic demand steady ahead of wedding season. Chinese recovery driving improvement in 0.30 to 0.69 ct., D-K, VS-I1, 3X diamonds. Melee segment stable. Rough market quiet as manufacturers maintain low production. About 50 members of WFDB’s Young Diamantaires group visit Surat and Mumbai.
Hong Kong:
Polished trading sluggish but gradually improving. More people in the city after China border opening, but dealers still waiting for business boost. Sellers holding prices firm after recent declines. Chinese buyers biding their time after Lunar New Year break. Retail picking up, particularly among luxury brands.
Market Comment
News: Diamond market segmented. Smaller goods stable; larger stones above 0.50 ct. weak amid price uncertainty. US demand cautious due to sluggish economic outlook, but dealers see steady orders at Centurion show in Arizona. NRF expects jewelry to top list of Valentine’s Day gifts but predicts lower sales than last year. China recovery boosting trader sentiment. Chinese luxury market improving after Covid-19 lockdowns led to 10%-15% decline in local jewelry segment for 2022, Bain reports. Titan Company FY3Q sales +16% to $1.4B, profit -10% to $123M. Rough trading slow; manufacturers keeping production low due to high polished inventory. Sotheby’s brings in $13M at Hong Kong sale.
Fancies: Fashion driving demand for elongated Ovals, Emeralds and Radiants. Goods with medium and short ratios are weak and declining in value. Slow market for 0.30 to 1.20 ct. diamonds. 1.25 ct. and larger, F-J, VS-SI categories stable. Supply shortages of well-cut fancies supporting prices. Oval is leading shape, followed by Radiant, Emerald, Pear, Cushion and Marquise. Retailers offering broader product ranges as consumers seek alternative cuts. Excellent shapes commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid and difficult to sell.
Sentiment up after Centurion show demonstrates stable demand. Fancy-colored diamonds sold well. Retail jewelers buying, but not in the significant quantities typical of January-February. Elongated fancy shapes above 1.50 ct. hot; cushions, ovals and radiants most popular. Some optimism for Valentine’s Day.
Busier activity in Antwerp but fewer orders than usual for first quarter. Steady demand from European luxury houses following robust holiday season for high-end retail. Market stable for 0.50 to 1 ct., G-I, VVS2, 3X diamonds. Above 1 ct. slightly weaker. Smaller rough doing better than large goods.
Market cautious. Large volume of goods available despite decline in Indian manufacturing. Fancy shapes with excellent proportions moving well. Slower US demand for this time of year. Suppliers to Far East seeing rise in business. Some dealers traveling to Dubai for next week’s Jewellery, Gem & Technology (JGT) show.
Slowdown in US orders affecting India polished trading. Domestic demand steady ahead of wedding season. Chinese recovery driving improvement in 0.30 to 0.69 ct., D-K, VS-I1, 3X diamonds. Melee segment stable. Rough market quiet as manufacturers maintain low production. About 50 members of WFDB’s Young Diamantaires group visit Surat and Mumbai.
Polished trading sluggish but gradually improving. More people in the city after China border opening, but dealers still waiting for business boost. Sellers holding prices firm after recent declines. Chinese buyers biding their time after Lunar New Year break. Retail picking up, particularly among luxury brands.
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