News: US stores seeing steady consumer sales but prefer to restock with memo goods due to uncertain market. US jewelry manufacturers buying melee in commercial qualities. Signet 2Q sales -8% YOY to $1.5B, loss of $99M vs. profit of $75M last year. US Aug. inflation falls to 2.5%. Cautious sentiment at Italy’s Vicenzaoro show, with steady jewelry demand and slow diamond sales. India factories reopening at low levels after Aug. break. Belgium Aug. polished exports -23% YOY to $288M, rough imports -56% to $279M, Jan.-Aug. polished exports -13% to $5.4B, rough imports -38% to $3.1B. Low expectations for Hong Kong show. Martin Rapaport to present webinar on Sep. 18 at 10 a.m. EDT. Register here.
Fancies: Fancy-shape prices weaker following strong demand last year and overproduction by manufacturers. US buyers more selective about quality of SIs, rejecting black centers and short ratios. Elongated shapes still preferred. Fancies with medium and short ratios harder to sell. Supply shortages supporting prices for Marquises. 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:
Market mixed, with retailers slowly preparing for holidays but preferring to take goods on memo. Melee stable in commercial qualities. Shortages of select well-cut diamonds in certified goods as availability of new production declines.
Belgium:
Sentiment low. Concerns about future of diamond sector in Belgium. Antwerp World Diamond Centre briefs trade on G7 grandfathering rules.
Israel:
Dealers have returned from summer vacation and are assessing market as they try to sell. US business slow. Muted expectations for Hong Kong show amid weak Chinese demand. Israel August polished exports fell 40% year on year to $165M, and rough imports dropped 20% to $40M. January-August polished exports down 33% at $1.4B, rough imports down 9% at $649M.
India:
Overseas demand weak, with customers unwilling to buy for inventory. Domestic jewelry orders boosting sales of smaller diamonds. Select goods in short supply following production cuts. Low colors selling at deep discounts. Exhibitors preparing for Hong Kong show (September 16 to 22).
Hong Kong:
Little optimism for September fair. Exhibitors trying to reduce their show-related expenses to maximize profits. Fewer Chinese jewelers expected to attend. Jewelry manufacturers in China have cut back on diamond purchases amid low consumer demand and rising concerns about further price drops. Consumers returning diamonds.
Market Comment
News: US stores seeing steady consumer sales but prefer to restock with memo goods due to uncertain market. US jewelry manufacturers buying melee in commercial qualities. Signet 2Q sales -8% YOY to $1.5B, loss of $99M vs. profit of $75M last year. US Aug. inflation falls to 2.5%. Cautious sentiment at Italy’s Vicenzaoro show, with steady jewelry demand and slow diamond sales. India factories reopening at low levels after Aug. break. Belgium Aug. polished exports -23% YOY to $288M, rough imports -56% to $279M, Jan.-Aug. polished exports -13% to $5.4B, rough imports -38% to $3.1B. Low expectations for Hong Kong show. Martin Rapaport to present webinar on Sep. 18 at 10 a.m. EDT. Register here.
Fancies: Fancy-shape prices weaker following strong demand last year and overproduction by manufacturers. US buyers more selective about quality of SIs, rejecting black centers and short ratios. Elongated shapes still preferred. Fancies with medium and short ratios harder to sell. Supply shortages supporting prices for Marquises. 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.
Market mixed, with retailers slowly preparing for holidays but preferring to take goods on memo. Melee stable in commercial qualities. Shortages of select well-cut diamonds in certified goods as availability of new production declines.
Sentiment low. Concerns about future of diamond sector in Belgium. Antwerp World Diamond Centre briefs trade on G7 grandfathering rules.
Dealers have returned from summer vacation and are assessing market as they try to sell. US business slow. Muted expectations for Hong Kong show amid weak Chinese demand. Israel August polished exports fell 40% year on year to $165M, and rough imports dropped 20% to $40M. January-August polished exports down 33% at $1.4B, rough imports down 9% at $649M.
Overseas demand weak, with customers unwilling to buy for inventory. Domestic jewelry orders boosting sales of smaller diamonds. Select goods in short supply following production cuts. Low colors selling at deep discounts. Exhibitors preparing for Hong Kong show (September 16 to 22).
Little optimism for September fair. Exhibitors trying to reduce their show-related expenses to maximize profits. Fewer Chinese jewelers expected to attend. Jewelry manufacturers in China have cut back on diamond purchases amid low consumer demand and rising concerns about further price drops. Consumers returning diamonds.
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