News: Slow sales impacting prices. IF-VS weakening. 1 ct. RAPI -3.5% in Apr.; prices of round, 1 ct., D-H, SI +1%. Finest-cut fancy shapes strong in larger sizes. Marquises moving well. India manufacturing fewer goods ahead of summer vacation. De Beers reduces prices at May sight: 3-grainer and smaller rough by 4%-6%, caraters by 4%. Sightholders still struggling to profit. EU proposes exempting pre-Jan. 2024 rough and pre-Mar. polished from Russian sanctions. Trade preparing for Las Vegas shows amid uncertain US consumer demand. Richemont acquires Italian jeweler Vhernier.
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.
United States:
Dealers preparing inventories for JCK Las Vegas show. Consumer sentiment uncertain amid high inflation and record interest rates. Steady demand for round, 1 to 2 ct., F-I, SI diamonds. Limited supply of SIs with no black center. Stable sales for 3 ct. and larger diamonds and fine-cut fancy shapes.
Belgium:
Market slow overall, with few US and Chinese orders. Select, well-cut diamonds moving and in short supply. Marquises hard to find. Ongoing concerns about impact of G7 sanctions.
Israel:
Dealers focusing on premium diamonds due to weakness in bread-and-butter goods. High-value fancy shapes with excellent ratios are in demand and maintaining price levels. Israel Diamond Exchange president Boaz Moldawsky announces he won’t run in May elections.
India:
Trading slow. Some orders for round, 1 to 3 ct., D-J, VVS diamonds. Domestic market better than overseas market. Manufacturers reducing production due to weak demand and summer break. Sightholders taking losses or breaking even on De Beers rough despite price drop at May sight.
Hong Kong:
Market has improved slightly since Easter holiday. Steady memo orders for round, 1 to 1.50 ct., D-G, VS-SI, 3X diamonds. Pear and emerald, 1 to 2 ct., D-J, VVS-SI goods selling better than other fancy shapes. China jewelry manufacturing rising but mainly for gold products.
Market Comment
News: Slow sales impacting prices. IF-VS weakening. 1 ct. RAPI -3.5% in Apr.; prices of round, 1 ct., D-H, SI +1%. Finest-cut fancy shapes strong in larger sizes. Marquises moving well. India manufacturing fewer goods ahead of summer vacation. De Beers reduces prices at May sight: 3-grainer and smaller rough by 4%-6%, caraters by 4%. Sightholders still struggling to profit. EU proposes exempting pre-Jan. 2024 rough and pre-Mar. polished from Russian sanctions. Trade preparing for Las Vegas shows amid uncertain US consumer demand. Richemont acquires Italian jeweler Vhernier.
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.
Dealers preparing inventories for JCK Las Vegas show. Consumer sentiment uncertain amid high inflation and record interest rates. Steady demand for round, 1 to 2 ct., F-I, SI diamonds. Limited supply of SIs with no black center. Stable sales for 3 ct. and larger diamonds and fine-cut fancy shapes.
Market slow overall, with few US and Chinese orders. Select, well-cut diamonds moving and in short supply. Marquises hard to find. Ongoing concerns about impact of G7 sanctions.
Dealers focusing on premium diamonds due to weakness in bread-and-butter goods. High-value fancy shapes with excellent ratios are in demand and maintaining price levels. Israel Diamond Exchange president Boaz Moldawsky announces he won’t run in May elections.
Trading slow. Some orders for round, 1 to 3 ct., D-J, VVS diamonds. Domestic market better than overseas market. Manufacturers reducing production due to weak demand and summer break. Sightholders taking losses or breaking even on De Beers rough despite price drop at May sight.
Market has improved slightly since Easter holiday. Steady memo orders for round, 1 to 1.50 ct., D-G, VS-SI, 3X diamonds. Pear and emerald, 1 to 2 ct., D-J, VVS-SI goods selling better than other fancy shapes. China jewelry manufacturing rising but mainly for gold products.
Share
Share with others