News: De Beers and Botswana sign 10-year sales agreement with possible five-year extension. Deal reflects growing power of producer countries: Okavango to sell 30% of Debswana goods for first five years, 40% for next five years, 50% after 10 years. De Beers holds prices steady at Feb. sight, with shortages of 5 ct. and larger goods. Rough sentiment improving. Polished prices stable in select categories, supported by inventory declines. US wholesalers struggling to find the right items. Low expectations for diamond trading at Hong Kong shows (Mar. 2-8) amid weak Chinese demand. EU postpones mandatory traceability mechanism for Russia sanctions to Jan. 1, 2026.
Fancies: Large fancy shapes doing better than rounds. Prices stable overall, and firm for 3 ct. and larger diamonds. Better stones are hard to find. Solid US interest in elongated Ovals with good shape and quality in D-I, VS-SI categories. Elongated Emeralds, Radiants and Pears in 2.50 to 2.99 ct. sizes trading at significant premiums. Oval and Pear, 0.30 to 0.49 ct., F-I, VS diamonds in demand. Ovals 5% to 10% more expensive than Pears in US market. Supply shortages supporting prices for Marquises. Square Cushions slow. Very well-cut fancy shapes difficult to find and commanding premiums. Off-make, poorly cut fancies illiquid.
United States:
Market steady. Retailers seeing stable but not record-breaking sales. Wholesalers struggling to finding the goods they want (3X, no center black). Melee firm in medium qualities. Lower-quality melee hard to find. The Conference Board’s consumer confidence index sees largest monthly decline since August 2021 amid inflation concerns.
Belgium:
Slight improvement in sentiment. Steady demand for round, 0.30 to 1 ct., F-G, VS diamonds. Shortages supporting market, especially in sought-after categories such as nice SIs in oversizes. Rough market firming amid supply gaps.
Israel:
Demand slow. Sought-after goods such as 2.50 to 2.99 ct. long ovals and pears are expensive and hard to find. Diamonds with center black inclusions are commanding deep discounts.
India:
Cautious optimism as shortages emerge in some categories. Domestic jewelry demand steady. Good movement in melee. Dealers preparing for Hong Kong shows, with low expectations despite slight uptick in activity.
Hong Kong:
Trade focusing on next week’s diamond and jewelry fairs. Not many pre-show orders, as Chinese demand remains slow. Exhibitors coming with low expectations. Little desire for new inventory. Engagement market providing some support, with ongoing appetite for 0.60 to 1.50 ct., D-H, VS-SI, 3X diamonds. Weak economy prompting shift to gemstones, pearls and synthetic diamonds.
Market Comment
News: De Beers and Botswana sign 10-year sales agreement with possible five-year extension. Deal reflects growing power of producer countries: Okavango to sell 30% of Debswana goods for first five years, 40% for next five years, 50% after 10 years. De Beers holds prices steady at Feb. sight, with shortages of 5 ct. and larger goods. Rough sentiment improving. Polished prices stable in select categories, supported by inventory declines. US wholesalers struggling to find the right items. Low expectations for diamond trading at Hong Kong shows (Mar. 2-8) amid weak Chinese demand. EU postpones mandatory traceability mechanism for Russia sanctions to Jan. 1, 2026.
Fancies: Large fancy shapes doing better than rounds. Prices stable overall, and firm for 3 ct. and larger diamonds. Better stones are hard to find. Solid US interest in elongated Ovals with good shape and quality in D-I, VS-SI categories. Elongated Emeralds, Radiants and Pears in 2.50 to 2.99 ct. sizes trading at significant premiums. Oval and Pear, 0.30 to 0.49 ct., F-I, VS diamonds in demand. Ovals 5% to 10% more expensive than Pears in US market. Supply shortages supporting prices for Marquises. Square Cushions slow. Very well-cut fancy shapes difficult to find and commanding premiums. Off-make, poorly cut fancies illiquid.
Market steady. Retailers seeing stable but not record-breaking sales. Wholesalers struggling to finding the goods they want (3X, no center black). Melee firm in medium qualities. Lower-quality melee hard to find. The Conference Board’s consumer confidence index sees largest monthly decline since August 2021 amid inflation concerns.
Slight improvement in sentiment. Steady demand for round, 0.30 to 1 ct., F-G, VS diamonds. Shortages supporting market, especially in sought-after categories such as nice SIs in oversizes. Rough market firming amid supply gaps.
Demand slow. Sought-after goods such as 2.50 to 2.99 ct. long ovals and pears are expensive and hard to find. Diamonds with center black inclusions are commanding deep discounts.
Cautious optimism as shortages emerge in some categories. Domestic jewelry demand steady. Good movement in melee. Dealers preparing for Hong Kong shows, with low expectations despite slight uptick in activity.
Trade focusing on next week’s diamond and jewelry fairs. Not many pre-show orders, as Chinese demand remains slow. Exhibitors coming with low expectations. Little desire for new inventory. Engagement market providing some support, with ongoing appetite for 0.60 to 1.50 ct., D-H, VS-SI, 3X diamonds. Weak economy prompting shift to gemstones, pearls and synthetic diamonds.
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