Market Comment

News:

Cautious recovery continues, led by 0.30 to 1.49 ct. goods. Price growth in 0.50 ct. starting to outpace 0.30 ct. Some 1 ct. categories rebounding after recent declines. Rounds’ price trends better than fancies’. Large diamonds steady and in demand. High-end market solid. Trading hubs slow in final stretch of summer holiday. US wholesalers shifting focus to holiday season. Chinese demand low ahead of Hong Kong show (Sep. 14-20), but good overseas turnout expected. Rough market tightening following supply cuts. Alrosa plans diamond-cutting cluster in Smolensk and Yakutia. Qatar Diamond Exchange signs MoU with diamond bourses in Singapore, Shanghai and Tokyo.

Fancies:

Long fancy shapes such as Ovals, Marquises and Emeralds moving well 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. Reports of demand for Princesses after long period of weakness; prices remain low. Antique cuts and styles hot. Solid US market for elongated Ovals of good shape and quality in D-I, VS-SI categories. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.