News: De Beers reduces rough prices 10% to 15%. Polished prices stable. Slow sales anticipated at Dec. sight, as prices are still higher than tenders. Alrosa responds with 10% price cut. Manufacturing margins expected to improve. Gem Diamonds says “inappropriate sales” in Botswana have impacted market for large rough. Polished trading steady amid holiday demand and shortages of sought-after items. Nov. RAPI: 0.30 ct. +1.6%, 0.50 ct. +1.4%, 1 ct. +0.1% as trend shifts after eight months of declines. Thanksgiving weekend beats estimates, with National Retail Federation reporting 197M US shoppers. Signet 3Q sales -3% YOY to $1.35B, profit -40% to $7M. Alrosa sells Angola mining stake to Omani fund.
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:
Sentiment positive as peak holiday season approaches. Consumer sales steady but not record-breaking. Retailers buying both on memo and outright. Elongated ovals moving. Stable demand for nice 3 ct. and larger, F-I, VS-SI diamonds in rounds and fancies, but inventory hard to replace. Consumer Confidence Index rose 1.9% in November, The Conference Board reports.
Belgium:
Holiday season steady but slower than in past years. Dealers waiting for demand to pick up. Production drop supporting prices.
Israel:
Festive demand fizzling out now that peak wholesale season has finished. Dealers focusing on effects of De Beers price cut and how industry should market diamonds.
India:
Overseas orders sluggish. Domestic jewelry sector supporting market during wedding season, with steady demand for diamonds under 1 carat. Melee in VS2-SI2 clarities in short supply. 1 to 1.50 ct. diamonds slow. Manufacturers reopening after Diwali. Trade watching for impact of De Beers price drop on supply and diamond values.
Hong Kong:
Market slow but picking up ahead of peak season. Steady consumer traffic at Hong Kong Jewelry Manufacturers’ Association (HKJMA) show, offering some opportunities to close sales of items under $1,000. Overall luxury demand weak amid economic slowdown. Gemstones selling better than diamonds and offering greater profit for jewelers. Lab-grown advertising hurting natural market.
Market Comment
News: De Beers reduces rough prices 10% to 15%. Polished prices stable. Slow sales anticipated at Dec. sight, as prices are still higher than tenders. Alrosa responds with 10% price cut. Manufacturing margins expected to improve. Gem Diamonds says “inappropriate sales” in Botswana have impacted market for large rough. Polished trading steady amid holiday demand and shortages of sought-after items. Nov. RAPI: 0.30 ct. +1.6%, 0.50 ct. +1.4%, 1 ct. +0.1% as trend shifts after eight months of declines. Thanksgiving weekend beats estimates, with National Retail Federation reporting 197M US shoppers. Signet 3Q sales -3% YOY to $1.35B, profit -40% to $7M. Alrosa sells Angola mining stake to Omani fund.
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.
Sentiment positive as peak holiday season approaches. Consumer sales steady but not record-breaking. Retailers buying both on memo and outright. Elongated ovals moving. Stable demand for nice 3 ct. and larger, F-I, VS-SI diamonds in rounds and fancies, but inventory hard to replace. Consumer Confidence Index rose 1.9% in November, The Conference Board reports.
Holiday season steady but slower than in past years. Dealers waiting for demand to pick up. Production drop supporting prices.
Festive demand fizzling out now that peak wholesale season has finished. Dealers focusing on effects of De Beers price cut and how industry should market diamonds.
Overseas orders sluggish. Domestic jewelry sector supporting market during wedding season, with steady demand for diamonds under 1 carat. Melee in VS2-SI2 clarities in short supply. 1 to 1.50 ct. diamonds slow. Manufacturers reopening after Diwali. Trade watching for impact of De Beers price drop on supply and diamond values.
Market slow but picking up ahead of peak season. Steady consumer traffic at Hong Kong Jewelry Manufacturers’ Association (HKJMA) show, offering some opportunities to close sales of items under $1,000. Overall luxury demand weak amid economic slowdown. Gemstones selling better than diamonds and offering greater profit for jewelers. Lab-grown advertising hurting natural market.
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