News: US suppliers cautiously optimistic for Las Vegas shows, as jewelers have reduced inventories. Indian market slow as dealers reduce buying. Prices of round, 1 ct., D-J, IF-VS1 diamonds continue to drop. SI2 improving. Fancy shapes weak. Reuters reports US govt. “has cooled on enforcing traceability” regarding Russian sanctions, with Signet lobbying against G7 Belgium solution. Plans for sale of De Beers creating uncertainty. Okavango May rough sales +84% YOY to $104M amid price drop in 3 gr. and larger sizes. FY 2024 sales at Richemont jewelry maisons +6% to $15.5B. De Beers and Signet to collaborate on natural-diamond marketing. Israel bourse elects Nissim Zuaretz as president.
Fancies: Fancy-shape prices weaker following strong demand last year and overproduction by manufacturers. Pears slower than other shapes. Market for Ovals not as hot as it was. Elongated shapes still preferred. Goods with medium and short ratios harder to sell. Supply shortages supporting prices for Marquises. Well-cut fancy-shape diamonds hard to find and commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid.
United States:
Exhibitors shipping goods ahead of JCK Las Vegas and Luxury shows. Expectations mixed, but outlook favorable for suppliers that have made client appointments. Hard to rely on walk-in traffic. New York market stable. Retailers buying well-cut ovals, emeralds and elongated cushions in 3 ct. and larger sizes. Some interest in 3 to 5 ct. diamonds. Large companies that sell straight to retailers doing okay; trading between small dealers slow.
Belgium:
Business seasonally slow. Chinese demand weak. Diamonds in short supply following drop in manufacturing levels. Many dealers not attending Las Vegas shows. Some orders for melee, 0.50 ct. and 1 ct. rounds in D-I, VS1-SI2 categories. Fancy-color diamonds difficult to replace. Traders concerned about future of De Beers.
Israel:
Preparations for JCK Las Vegas have boosted bourse activity as exhibitors prepare inventories. Fewer companies attending than in previous years, and costs have risen. Dealers remain nervous amid sluggish US and Chinese demand.
India:
Market quiet. Manufacturers cautious about JCK Las Vegas amid slow orders from dealers. Suppliers focusing on show rather than local sales. National election negatively impacting domestic demand. Slowdown in round, 1 ct., D-J, VVS-SI, 3X diamonds with no brown, green or milky (BGM) or fluorescence. Melee moving in VS2 to SI2, with supply shortages.
Hong Kong:
Market improving. Retailers buying round, 0.30 to 0.80 ct., D-H, VVS-VS, 3X diamonds. Fancy shapes moving well in 1 to 2 ct., D-J, VVS-VS ranges, with jewelers offering deep discounts to attract consumers. Steady Mother’s Day sales. Rallying stock market is lifting consumer sentiment. China jewelry manufacturers focusing on gold products.
Market Comment
News: US suppliers cautiously optimistic for Las Vegas shows, as jewelers have reduced inventories. Indian market slow as dealers reduce buying. Prices of round, 1 ct., D-J, IF-VS1 diamonds continue to drop. SI2 improving. Fancy shapes weak. Reuters reports US govt. “has cooled on enforcing traceability” regarding Russian sanctions, with Signet lobbying against G7 Belgium solution. Plans for sale of De Beers creating uncertainty. Okavango May rough sales +84% YOY to $104M amid price drop in 3 gr. and larger sizes. FY 2024 sales at Richemont jewelry maisons +6% to $15.5B. De Beers and Signet to collaborate on natural-diamond marketing. Israel bourse elects Nissim Zuaretz as president.
Fancies: Fancy-shape prices weaker following strong demand last year and overproduction by manufacturers. Pears slower than other shapes. Market for Ovals not as hot as it was. Elongated shapes still preferred. Goods with medium and short ratios harder to sell. Supply shortages supporting prices for Marquises. Well-cut fancy-shape diamonds hard to find and commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid.
Exhibitors shipping goods ahead of JCK Las Vegas and Luxury shows. Expectations mixed, but outlook favorable for suppliers that have made client appointments. Hard to rely on walk-in traffic. New York market stable. Retailers buying well-cut ovals, emeralds and elongated cushions in 3 ct. and larger sizes. Some interest in 3 to 5 ct. diamonds. Large companies that sell straight to retailers doing okay; trading between small dealers slow.
Business seasonally slow. Chinese demand weak. Diamonds in short supply following drop in manufacturing levels. Many dealers not attending Las Vegas shows. Some orders for melee, 0.50 ct. and 1 ct. rounds in D-I, VS1-SI2 categories. Fancy-color diamonds difficult to replace. Traders concerned about future of De Beers.
Preparations for JCK Las Vegas have boosted bourse activity as exhibitors prepare inventories. Fewer companies attending than in previous years, and costs have risen. Dealers remain nervous amid sluggish US and Chinese demand.
Market quiet. Manufacturers cautious about JCK Las Vegas amid slow orders from dealers. Suppliers focusing on show rather than local sales. National election negatively impacting domestic demand. Slowdown in round, 1 ct., D-J, VVS-SI, 3X diamonds with no brown, green or milky (BGM) or fluorescence. Melee moving in VS2 to SI2, with supply shortages.
Market improving. Retailers buying round, 0.30 to 0.80 ct., D-H, VVS-VS, 3X diamonds. Fancy shapes moving well in 1 to 2 ct., D-J, VVS-VS ranges, with jewelers offering deep discounts to attract consumers. Steady Mother’s Day sales. Rallying stock market is lifting consumer sentiment. China jewelry manufacturers focusing on gold products.
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