Market Comment

United States

Stable trading, with slight uptick in activity from previous weeks. Some anticipate a positive push for goods before Mother’s Day. Healthy mix of memo calls and asset purchases. Bridal not as strong as previous years as Covid-19 disrupted dating scene, resulting in delayed drop in engagements, Signet Jewelers reports. Stable demand for traditional US center-ring categories of 1 to 3 ct., G-I, VS-SI, with shift to elongated ovals, cushions and emeralds.

Belgium

Market for 1 ct. and larger goods quiet amid continued price declines. Slow trading expected to continue into April as many businesses close for Passover. Fancy-color diamond segment robust, with 1 to 5 ct. intense and vivid yellows selling well. High-end jewelry strong, driven by growth of luxury brands. Rough trading stable during De Beers sight.

Israel

Buzz in the bourse during various events taking place over International Diamond Week. Some 450 buyers from over 40 countries attending; 150 exhibitors. Good demand for 0.20 to 0.30 ct. Weak interest in 0.50 to 3 ct. Nice, fancy shapes are selling well. Shift back to US memo market.

India

Slower activity amid sluggish US demand. Polished production gradually increasing as Chinese jewelers have resumed buying. 0.30 ct. diamonds doing very well. Fancy shapes are also a strong category. Rough prices are high relative to polished, squeezing manufacturing profit margins. Domestic jewelry demand steady.

Hong Kong

Sentiment positive as market continues to reopen. Activity has dropped since March shows. Consumers seeking lower prices, pushing demand toward budget items such as colored gemstones. Some movement in 0.30 to 2.00 ct. diamonds. Manufacturing margins thin amid firm rough prices. Optimism for the second half of the year.