News: Prices of rounds stable; mixed trend in fancies. Market steady, but future uncertain as Indian production resumes. Polished inventories down due to lower production, but oversupply is a concern if manufacturers buy too much rough. US holiday sales supporting B2B demand for round, 1 to 3 ct., F-I, VS-SI, 3X diamonds. Indian sellers asking for higher prices, but clients only willing to buy when purchasing for specific orders. Alrosa 3Q revenue +55% YOY to $874M, Interfax estimates. Rough prices recovering at auctions and tenders, with Petra Dec. prices +19% from Sep.-Oct. Some sightholders expect price drops at De Beers Jan. sight, as miner needs revenue following 2H losses. US Oct. polished imports -21% to $1.5B.
Fancies: Fancy market slowing. Weak demand for Hearts and Cushions. Longer Ovals, Pears, Radiants and Cushions bringing higher prices than shorter stones. Elongated fancy shapes selling well. Goods with medium and short ratios harder to sell. Marquise prices holding up following drop in availability. 0.30 ct. seeing good sales. Orders down for 0.70 to 1.20 ct. diamonds. Well-cut stones in short supply. Excellent shapes commanding premiums. Retailers offering broader product ranges as consumers seek alternative cuts. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid.
United States:
Steady holiday demand ahead of peak shopping days. Dealers expecting late season. Solid interest in round, 1 to 3 ct., G-I, VS-SI, 3X diamonds with no center black. Some jewelers buying for stock. Fancies weaker than rounds. Melee market still strong as retailers make final Christmas orders. Hard to find nice material to replace sold inventory.
Belgium:
Cautious optimism for holiday season amid return of US demand and drop in inventories. Steady orders for 0.30 and 1 ct., 3X diamonds. Concerns about synthetics have eased slightly as consumers come to understand long-term value issues.
Israel:
Bourse quiet during Hanukkah holiday and ongoing war. Prices have risen, but dealers unsure whether recovery will continue after fourth-quarter shopping season. Return of Indian manufacturing is reigniting concerns about oversupply.
India:
Sentiment good; demand has improved, and supply remains limited. Manufacturing still below capacity following long Diwali vacation and two-month freeze on rough imports. Steady orders for round, 1 to 1.49 ct., D-I, VVS-SI2 diamonds as US holiday season reaches peak. Stable American and European interest in 2 ct. and larger goods. Well-cut pears, ovals, marquises and emeralds selling. Domestic jewelry market supporting trade in under-1 ct., D-H, VVS1-VS2, 3X diamonds.
Hong Kong:
Business improving ahead of holidays, but consumers shifting to lower-priced jewelry. Local Hong Kong market slower than last year. Mainland China retailers selling items with melee, gold, and synthetic diamonds as weak economy forces budget cuts. Demand for 1 to 1.50 ct., D-J, VVS diamonds strengthening. Pears, emeralds and ovals in 1 to 2 ct. sizes moving. Chinese jewelry manufacturers increasing production levels ahead of Lunar New Year.
Market Comment
News: Prices of rounds stable; mixed trend in fancies. Market steady, but future uncertain as Indian production resumes. Polished inventories down due to lower production, but oversupply is a concern if manufacturers buy too much rough. US holiday sales supporting B2B demand for round, 1 to 3 ct., F-I, VS-SI, 3X diamonds. Indian sellers asking for higher prices, but clients only willing to buy when purchasing for specific orders. Alrosa 3Q revenue +55% YOY to $874M, Interfax estimates. Rough prices recovering at auctions and tenders, with Petra Dec. prices +19% from Sep.-Oct. Some sightholders expect price drops at De Beers Jan. sight, as miner needs revenue following 2H losses. US Oct. polished imports -21% to $1.5B.
Fancies: Fancy market slowing. Weak demand for Hearts and Cushions. Longer Ovals, Pears, Radiants and Cushions bringing higher prices than shorter stones. Elongated fancy shapes selling well. Goods with medium and short ratios harder to sell. Marquise prices holding up following drop in availability. 0.30 ct. seeing good sales. Orders down for 0.70 to 1.20 ct. diamonds. Well-cut stones in short supply. Excellent shapes commanding premiums. Retailers offering broader product ranges as consumers seek alternative cuts. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid.
Steady holiday demand ahead of peak shopping days. Dealers expecting late season. Solid interest in round, 1 to 3 ct., G-I, VS-SI, 3X diamonds with no center black. Some jewelers buying for stock. Fancies weaker than rounds. Melee market still strong as retailers make final Christmas orders. Hard to find nice material to replace sold inventory.
Cautious optimism for holiday season amid return of US demand and drop in inventories. Steady orders for 0.30 and 1 ct., 3X diamonds. Concerns about synthetics have eased slightly as consumers come to understand long-term value issues.
Bourse quiet during Hanukkah holiday and ongoing war. Prices have risen, but dealers unsure whether recovery will continue after fourth-quarter shopping season. Return of Indian manufacturing is reigniting concerns about oversupply.
Sentiment good; demand has improved, and supply remains limited. Manufacturing still below capacity following long Diwali vacation and two-month freeze on rough imports. Steady orders for round, 1 to 1.49 ct., D-I, VVS-SI2 diamonds as US holiday season reaches peak. Stable American and European interest in 2 ct. and larger goods. Well-cut pears, ovals, marquises and emeralds selling. Domestic jewelry market supporting trade in under-1 ct., D-H, VVS1-VS2, 3X diamonds.
Business improving ahead of holidays, but consumers shifting to lower-priced jewelry. Local Hong Kong market slower than last year. Mainland China retailers selling items with melee, gold, and synthetic diamonds as weak economy forces budget cuts. Demand for 1 to 1.50 ct., D-J, VVS diamonds strengthening. Pears, emeralds and ovals in 1 to 2 ct. sizes moving. Chinese jewelry manufacturers increasing production levels ahead of Lunar New Year.
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