Market Comment

News:

Market slow during Passover. India March polished exports -69% YOY to $166M after returns; rough imports -45% to $720M. Industry takes to social media on first World Diamond Day. Petra Diamonds fiscal 3Q sales +64% YOY to $68M; company agrees to sale of 41.82 ct. blue diamond, will retain interest in polished profits. Mountain Province 2025 sales -42% to $112M, with loss widening 246% to $200M. Chow Sang Sang 2025 revenue +6% to $2.9B, profit +113% to $219M due to rising gold prices. Titan fiscal 4Q jewelry sales +46% YOY amid strength in gold and studded categories.

Fancies:

Long fancy shapes such as Ovals, Marquises and Emeralds doing better than rounds in 2 ct. and larger. High-quality Marquises, long Radiants and long Cushions in short supply. Marquise most expensive fancy shape. Long Cushions easy to sell and trading at 20% to 25% premium over square ones. Solid US market for elongated Ovals of good shape and quality in D-I, VS-SI categories. Princess cuts weak. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.