News: Rounds doing well, with excellent demand for 0.08 to 0.14 ct. goods. Decent seasonal sales of heart shapes. OFAC determines that 1 ct. and larger Russian-source diamonds even if cut outside of Russia cannot be imported into the US after Mar. 1. Trade urged to support Rapaport US Diamond Protocol at rapaport.com/sanctions. De Beers 4Q production -3% YOY to 7.9M cts., sales -63% to 2.7M cts. India Jan. rough imports +43% YOY to $1.2B following Nov. and Dec. declines; Jan. polished exports -20% to $1.2B. Botswana allocates $65M to buy 24% of HB Antwerp. Kering reports double-digit 4Q sales growth at jewelers Boucheron, Pomellato, DoDo and Qeelin.
Fancies: Large inventories of Ovals and Pears due to slow sales and the imbalance between supply and demand after Indian manufacturers shifted from rounds to fancies last year. Sellers flexible on prices. Weakest size is 0.50 to 0.70 ct. Sales of Hearts, Princesses and square Cushions low. Longer Ovals, Pears, Radiants and Cushions bringing higher prices. Goods with medium and short ratios harder to sell. Supply shortages supporting prices for Marquises. Well-cut stones proving difficult to find and 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:
Mixed reports on Valentine’s Day sales, with seasonal demand for heart shapes. Steady orders for rounds and fancies 3 ct. and larger in I-L, VS-SI2 categories at recent trade shows. 1 to 2 ct. sizes have slowed. High-end brands cutting back on melee purchases. Lots of memo deals, with good rate of transactions. Synthetics market has weakened due to plummeting prices.
Belgium:
Market improving. Steady demand for 0.30 to 3 ct., I-L, VS-SI, 3X diamonds. Buyers struggling to find nice goods. Traders focusing on Hong Kong International Jewellery Show (February 29 to March 4), hoping Chinese demand will recover.
Israel:
Business better than in previous weeks. US sales and prices increasing, but discounts still deep. Sales have improved for in-demand items (oversizes, no fluorescence, no black center). Solid interest in round, 0.30 to 1 ct. diamonds; nice SIs in short supply. Strong demand for 0.30 ct. marquises.
India:
Good domestic demand for 0.30 to 0.90 ct., D-J, IF-SI diamonds. US and European orders improving. No one wants to accumulate inventory, as market direction is uncertain. Industry waiting to see effects of G7 sanctions on Russian diamonds.
Hong Kong:
Market closed during Chinese New Year. Low expectations for diamond sales at upcoming show.
Market Comment
News: Rounds doing well, with excellent demand for 0.08 to 0.14 ct. goods. Decent seasonal sales of heart shapes. OFAC determines that 1 ct. and larger Russian-source diamonds even if cut outside of Russia cannot be imported into the US after Mar. 1. Trade urged to support Rapaport US Diamond Protocol at rapaport.com/sanctions. De Beers 4Q production -3% YOY to 7.9M cts., sales -63% to 2.7M cts. India Jan. rough imports +43% YOY to $1.2B following Nov. and Dec. declines; Jan. polished exports -20% to $1.2B. Botswana allocates $65M to buy 24% of HB Antwerp. Kering reports double-digit 4Q sales growth at jewelers Boucheron, Pomellato, DoDo and Qeelin.
Fancies: Large inventories of Ovals and Pears due to slow sales and the imbalance between supply and demand after Indian manufacturers shifted from rounds to fancies last year. Sellers flexible on prices. Weakest size is 0.50 to 0.70 ct. Sales of Hearts, Princesses and square Cushions low. Longer Ovals, Pears, Radiants and Cushions bringing higher prices. Goods with medium and short ratios harder to sell. Supply shortages supporting prices for Marquises. Well-cut stones proving difficult to find and 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.
Mixed reports on Valentine’s Day sales, with seasonal demand for heart shapes. Steady orders for rounds and fancies 3 ct. and larger in I-L, VS-SI2 categories at recent trade shows. 1 to 2 ct. sizes have slowed. High-end brands cutting back on melee purchases. Lots of memo deals, with good rate of transactions. Synthetics market has weakened due to plummeting prices.
Market improving. Steady demand for 0.30 to 3 ct., I-L, VS-SI, 3X diamonds. Buyers struggling to find nice goods. Traders focusing on Hong Kong International Jewellery Show (February 29 to March 4), hoping Chinese demand will recover.
Business better than in previous weeks. US sales and prices increasing, but discounts still deep. Sales have improved for in-demand items (oversizes, no fluorescence, no black center). Solid interest in round, 0.30 to 1 ct. diamonds; nice SIs in short supply. Strong demand for 0.30 ct. marquises.
Good domestic demand for 0.30 to 0.90 ct., D-J, IF-SI diamonds. US and European orders improving. No one wants to accumulate inventory, as market direction is uncertain. Industry waiting to see effects of G7 sanctions on Russian diamonds.
Market closed during Chinese New Year. Low expectations for diamond sales at upcoming show.
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