Market Comment

April 13, 2023

News: Diamond market quiet over Passover and Easter holidays. Slow trading also reflects US economic caution as polished prices continue to decline: 1 ct. RAPI -1.6% in March. China recovery fueling industry optimism, but activity still not at pre-pandemic levels. Hong Kong’s TSL expects $9M loss for fiscal year that ended March 31, cites Covid-19 disruptions. LVMH 1Q watch and jewelry sales +11% to $2.9B, group +17% to $23.2B, driven by rebound in Asia. Titan Company FY4Q jewelry sales +23%. Rough market sluggish but slightly better than 1Q. De Beers March sales -5% to $540M. GIA joins Tracr blockchain; institute reverts to printed dossiers after trade pushback on switch to digital.

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.

The country market comments will return next week.


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