News: Sentiment improving. US retail stable ahead of Thanksgiving and holiday season. With holiday sales better than expected, trade is uncertain if activity will continue beyond 4Q. De Beers and Natural Diamond Council urge industry to invest more in marketing. De Beers focusing on diversity in new “A Diamond Is Forever” campaign. G7 node to open in Botswana. Rough market quiet ahead of Dec. 2 De Beers sight. Alrosa to sell rough to Gokhran, including 390 ct. diamond. Hong Kong’s Luk Fook shuts 175 China stores as fiscal 1H sales -27% YOY to $700M, profit -56% YOY to $54M. The Rapaport Group wishes all our friends a happy Thanksgiving and a successful holiday season.
Fancies: Fancy-shape prices stabilizing, but decline is more moderate than for rounds. US buyers more selective about quality of SIs, rejecting black centers and short ratios. Elongated shapes in demand. Fancies with medium and short ratios harder to sell. Supply shortages supporting prices for Marquises. Square Cushions slow. Very well-cut fancy shapes hard to find and commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid.
United States:
Dealers doing steady business ahead of holiday season. Retail jewelers seeing good sales with bridal and eternity bands. Stable sales of 1.50 ct. and larger diamonds and oversizes in F-H, VS2-SI2, 3X qualities. Retailers looking for round, 2.50 ct. and larger diamonds. Elongated fancy shapes with excellent makes are moving. Ongoing pressure from synthetics in lower-budget sector.
Belgium:
Facets conference focuses on marketing and the future of natural diamonds. Leaders from Botswana, Namibia and Angola stress strong ties with Antwerp and importance of having G7 verification nodes outside Belgium. Trading improving across the board ahead of holidays. Customers reluctant to buy for inventory. Fancy colors moving.
Israel:
Market quiet. Dealers filling final US orders ahead of holidays. Sales are in line with expectations. Those traveling to US to sell are satisfied. Companies buying carefully, purchasing salable goods outright and taking less-desirable items on memo. Traders cautious about restocking amid uncertainty about post-holiday market.
India:
Polishing factories gradually reopening after Diwali. Trading slow amid sluggish overseas demand. Buyers purchasing only for orders. Domestic jewelry market steady.
Hong Kong:
Trading picking up gradually ahead of Christmas and Chinese New Year, but business slower than in previous years. Engagement-ring demand supporting Hong Kong market for natural diamonds. Jewelers have started seasonal promotions. Exhibitors preparing for Hong Kong Jewelry Manufacturers’ Association (HKJMA) show (November 28 to December 1), which focuses on lower price points. Few Chinese jewelry manufacturers expected to attend amid weak demand.
Market Comment
News: Sentiment improving. US retail stable ahead of Thanksgiving and holiday season. With holiday sales better than expected, trade is uncertain if activity will continue beyond 4Q. De Beers and Natural Diamond Council urge industry to invest more in marketing. De Beers focusing on diversity in new “A Diamond Is Forever” campaign. G7 node to open in Botswana. Rough market quiet ahead of Dec. 2 De Beers sight. Alrosa to sell rough to Gokhran, including 390 ct. diamond. Hong Kong’s Luk Fook shuts 175 China stores as fiscal 1H sales -27% YOY to $700M, profit -56% YOY to $54M. The Rapaport Group wishes all our friends a happy Thanksgiving and a successful holiday season.
Fancies: Fancy-shape prices stabilizing, but decline is more moderate than for rounds. US buyers more selective about quality of SIs, rejecting black centers and short ratios. Elongated shapes in demand. Fancies with medium and short ratios harder to sell. Supply shortages supporting prices for Marquises. Square Cushions slow. Very well-cut fancy shapes hard to find and commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid.
Dealers doing steady business ahead of holiday season. Retail jewelers seeing good sales with bridal and eternity bands. Stable sales of 1.50 ct. and larger diamonds and oversizes in F-H, VS2-SI2, 3X qualities. Retailers looking for round, 2.50 ct. and larger diamonds. Elongated fancy shapes with excellent makes are moving. Ongoing pressure from synthetics in lower-budget sector.
Facets conference focuses on marketing and the future of natural diamonds. Leaders from Botswana, Namibia and Angola stress strong ties with Antwerp and importance of having G7 verification nodes outside Belgium. Trading improving across the board ahead of holidays. Customers reluctant to buy for inventory. Fancy colors moving.
Market quiet. Dealers filling final US orders ahead of holidays. Sales are in line with expectations. Those traveling to US to sell are satisfied. Companies buying carefully, purchasing salable goods outright and taking less-desirable items on memo. Traders cautious about restocking amid uncertainty about post-holiday market.
Polishing factories gradually reopening after Diwali. Trading slow amid sluggish overseas demand. Buyers purchasing only for orders. Domestic jewelry market steady.
Trading picking up gradually ahead of Christmas and Chinese New Year, but business slower than in previous years. Engagement-ring demand supporting Hong Kong market for natural diamonds. Jewelers have started seasonal promotions. Exhibitors preparing for Hong Kong Jewelry Manufacturers’ Association (HKJMA) show (November 28 to December 1), which focuses on lower price points. Few Chinese jewelry manufacturers expected to attend amid weak demand.
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