News: Market quiet. Reduced trading activity in US, Belgium and Israel during Passover festival. US and Indian retail in seasonal slowdown. China diamond demand weak. De Beers 1Q production -23% YOY to 6.9M cts., sales -49% to 4.9M cts.; miner moves auction headquarters from Singapore to Botswana. Rio Tinto 1Q diamond production -22% YOY to 740K cts. due to Diavik plane crash that led to pause in operations. Gold price continues to rise. AWDC names Karen Rentmeesters interim CEO following Ari Epstein resignation. Country comments will return next week after Passover.
Fancies: High inventories of Ovals and Pears due to slow sales and imbalance between supply and demand after Indian manufacturers shifted from rounds to fancies last year. Cutters now returning to rounds. Sellers are flexible on prices. Downtrend continues. Sales of Hearts, Princesses and square Cushions low. Longer Ovals, Pears, Radiants and Cushions bringing higher prices. Goods with medium and short ratios harder to sell. Supply shortages supporting prices for Marquises. Well-cut stones hard to find and commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid.
Market Comment
News: Market quiet. Reduced trading activity in US, Belgium and Israel during Passover festival. US and Indian retail in seasonal slowdown. China diamond demand weak. De Beers 1Q production -23% YOY to 6.9M cts., sales -49% to 4.9M cts.; miner moves auction headquarters from Singapore to Botswana. Rio Tinto 1Q diamond production -22% YOY to 740K cts. due to Diavik plane crash that led to pause in operations. Gold price continues to rise. AWDC names Karen Rentmeesters interim CEO following Ari Epstein resignation. Country comments will return next week after Passover.
Fancies: High inventories of Ovals and Pears due to slow sales and imbalance between supply and demand after Indian manufacturers shifted from rounds to fancies last year. Cutters now returning to rounds. Sellers are flexible on prices. Downtrend continues. Sales of Hearts, Princesses and square Cushions low. Longer Ovals, Pears, Radiants and Cushions bringing higher prices. Goods with medium and short ratios harder to sell. Supply shortages supporting prices for Marquises. Well-cut stones hard to find and commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid.
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