Market Comment

News:

Discounts narrow in smaller goods. Prices up for -2 polished amid strong demand and limited supply. De Beers cuts sightholder list by 30% for contract period starting Jul. 1. Reports of price increases in large rough at De Beers Mar. sight. Alrosa reports 6%-9% rise in 2 to 10 ct. rough prices since Jan. 1. Okavango auction sees price jump in high-quality, 5 to 9 ct. rough. 2 ct. and larger polished stable and in short supply. Canada’s Diavik mine ends production after 23 years. Blue Nile reportedly deprioritizing synthetics. Indian market quiet amid slow orders and religious holidays. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON APR. 3 DUE TO THE PASSOVER HOLIDAY.

Fancies:

Ovals and Pears seeing weakness in 0.50 to 1.19 ct. range in India following recent strength. 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 is 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.