News: Sentiment weak amid retail slowdown. Traders and manufacturers losing money on inventory. Indian factories maintaining low production. Dealers see opportunity for cheap deals but nervous about buying in downward market. De Beers lowers prices of 0.75 ct. and larger, lower-quality rough by 5%-15% at July sight. Industry fears ripple effect on polished prices. High end supporting demand for exceptional stones and beautiful fancy shapes. US inflation slows to 3% in June. Chow Tai Fook 1Q sales +29% as Chinese tourists return to Hong Kong. Lucapa names Nick Selby interim CEO.
Fancies: Fancy-shape market slower than before but better than rounds. Longer Ovals, Pears, Radiants and Cushions fetching higher prices than shorter stones. Goods with medium and short ratios weak. Marquises improving. Demand for Cushions declining. 0.30 ct. doing well. Orders low for 0.70 to 1.20 ct. diamonds. VS-SI losing strength, except in 1.20 to 1.49 ct. Well-cut stones seeing supply shortages. 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 and difficult to sell.
United States:
Memo deals supporting market as retailers avoid buying for stock. Rounds especially slow; fancies better. Industry relying on wealthy clients amid persistent mid-market weakness. Diamonds above 5 ct. seeing movement. Profit squeeze in India has created buyer’s market for international dealers.
Belgium:
Bourses quiet with little business to do. Summer slowdown compounding global market slump. Almost no movement in 1 to 2 ct. items. High-end clients supporting trade, with steady demand for 5 ct. and larger, D, IF-VVS goods and premium colored diamonds. Rough is expensive despite De Beers price cut.
Israel:
Sentiment weak as prices continue to decrease. Sellers reducing credit to customers abroad. Traders worried that De Beers’ rough-price drops will prompt further declines in polished valuations.
India:
Market slow and morale low. Manufacturers keeping production at reduced levels. Domestic consumer demand is strongest source of revenue amid weak sales to US and Far East. Chinese retailers reportedly resuming purchases at gradual pace. Lab-grown diamonds creating buzz, but concerns remain about long-term value.
Hong Kong:
Recovery from Covid-19 downturn has slowed amid seasonal lull. Reopening of mainland border has boosted luxury sales, but tourist and revenue numbers still below pre-pandemic levels. Chinese retailers starting to buy from overseas market.
Market Comment
News: Sentiment weak amid retail slowdown. Traders and manufacturers losing money on inventory. Indian factories maintaining low production. Dealers see opportunity for cheap deals but nervous about buying in downward market. De Beers lowers prices of 0.75 ct. and larger, lower-quality rough by 5%-15% at July sight. Industry fears ripple effect on polished prices. High end supporting demand for exceptional stones and beautiful fancy shapes. US inflation slows to 3% in June. Chow Tai Fook 1Q sales +29% as Chinese tourists return to Hong Kong. Lucapa names Nick Selby interim CEO.
Fancies: Fancy-shape market slower than before but better than rounds. Longer Ovals, Pears, Radiants and Cushions fetching higher prices than shorter stones. Goods with medium and short ratios weak. Marquises improving. Demand for Cushions declining. 0.30 ct. doing well. Orders low for 0.70 to 1.20 ct. diamonds. VS-SI losing strength, except in 1.20 to 1.49 ct. Well-cut stones seeing supply shortages. 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 and difficult to sell.
Memo deals supporting market as retailers avoid buying for stock. Rounds especially slow; fancies better. Industry relying on wealthy clients amid persistent mid-market weakness. Diamonds above 5 ct. seeing movement. Profit squeeze in India has created buyer’s market for international dealers.
Bourses quiet with little business to do. Summer slowdown compounding global market slump. Almost no movement in 1 to 2 ct. items. High-end clients supporting trade, with steady demand for 5 ct. and larger, D, IF-VVS goods and premium colored diamonds. Rough is expensive despite De Beers price cut.
Sentiment weak as prices continue to decrease. Sellers reducing credit to customers abroad. Traders worried that De Beers’ rough-price drops will prompt further declines in polished valuations.
Market slow and morale low. Manufacturers keeping production at reduced levels. Domestic consumer demand is strongest source of revenue amid weak sales to US and Far East. Chinese retailers reportedly resuming purchases at gradual pace. Lab-grown diamonds creating buzz, but concerns remain about long-term value.
Recovery from Covid-19 downturn has slowed amid seasonal lull. Reopening of mainland border has boosted luxury sales, but tourist and revenue numbers still below pre-pandemic levels. Chinese retailers starting to buy from overseas market.
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