News: Hong Kong show diamond trading meets low expectations. India reducing rough inventories, with Aug. net rough imports -47% YOY to $642M, lowest since Nov. 2023. Decline in polished inventories expected. Miners selling less. De Beers maintains firm prices and allows flexibility at Sep. sight. Okavango cancels Nov. and Dec. sales. SI2-I1 selling better than VVS. India retail supporting market for smalls ahead of Diwali. Sally Morrison to head De Beers’ category marketing. View Martin Rapaport webinar on diamond prices here (members only). The Rapaport Price List will not be published next week (Oct. 4) due to Rosh Hashanah. Best wishes for a happy and peaceful Jewish New Year.
Fancies: Fancy-shape prices soft, but price decline is more moderate than for rounds. US buyers more selective about quality of SIs, rejecting black centers and short ratios. Elongated shapes are 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:
Market mixed, with retailers focusing on memo. Wholesalers shipping consignment goods in large quantities to retailers ahead of holiday season. 1 ct. rounds slow. Elongated ovals and cushions in 2 ct. and larger, F-H, VS2-SI2 categories are in demand. Many New York dealers to take vacation over Jewish holidays.
Belgium:
Rough market sluggish in sight week as miners reduce supply. Cautious optimism for holiday season. Slow market for large, high-value diamonds. Buyers rarely purchasing for inventory.
Israel:
Activity low. Dealers not traveling abroad to buy, due to security situation and flight cancellations. Market preparing to close for Rosh Hashanah (October 3 to 4) and other Jewish holidays. Fewer overseas holiday visitors expected because of war. Sales to US have picked up slightly. Traders struggling to find good-quality round and oval, 1.30, 1.70 and 2.50 ct., F-H, SI2-I1 diamonds with no black inclusions.
India:
Trading slow amid weak overseas demand. Hong Kong show was quiet. Steady domestic demand for smaller diamonds (stars and melee) ahead of Diwali (November 1). India’s August polished exports down 24% year on year at $1.04 billion, January-to-August polished exports down 23% year on year at $9.62 billion. Low optimism for coming months.
Hong Kong:
Trade reflecting on slow Jewellery & Gem World (JGW) show. Exhibitors questioning whether to return to show given weak Chinese demand for diamonds. Poor sales of 1 to 1.50 ct., D-I, VS-SI goods amid oversupply. Many Chinese buyers absent due to low demand and Mid-Autumn Festival. Jewelry section quiet but better than diamonds.
Market Comment
News: Hong Kong show diamond trading meets low expectations. India reducing rough inventories, with Aug. net rough imports -47% YOY to $642M, lowest since Nov. 2023. Decline in polished inventories expected. Miners selling less. De Beers maintains firm prices and allows flexibility at Sep. sight. Okavango cancels Nov. and Dec. sales. SI2-I1 selling better than VVS. India retail supporting market for smalls ahead of Diwali. Sally Morrison to head De Beers’ category marketing. View Martin Rapaport webinar on diamond prices here (members only). The Rapaport Price List will not be published next week (Oct. 4) due to Rosh Hashanah. Best wishes for a happy and peaceful Jewish New Year.
Fancies: Fancy-shape prices soft, but price decline is more moderate than for rounds. US buyers more selective about quality of SIs, rejecting black centers and short ratios. Elongated shapes are 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.
Market mixed, with retailers focusing on memo. Wholesalers shipping consignment goods in large quantities to retailers ahead of holiday season. 1 ct. rounds slow. Elongated ovals and cushions in 2 ct. and larger, F-H, VS2-SI2 categories are in demand. Many New York dealers to take vacation over Jewish holidays.
Rough market sluggish in sight week as miners reduce supply. Cautious optimism for holiday season. Slow market for large, high-value diamonds. Buyers rarely purchasing for inventory.
Activity low. Dealers not traveling abroad to buy, due to security situation and flight cancellations. Market preparing to close for Rosh Hashanah (October 3 to 4) and other Jewish holidays. Fewer overseas holiday visitors expected because of war. Sales to US have picked up slightly. Traders struggling to find good-quality round and oval, 1.30, 1.70 and 2.50 ct., F-H, SI2-I1 diamonds with no black inclusions.
Trading slow amid weak overseas demand. Hong Kong show was quiet. Steady domestic demand for smaller diamonds (stars and melee) ahead of Diwali (November 1). India’s August polished exports down 24% year on year at $1.04 billion, January-to-August polished exports down 23% year on year at $9.62 billion. Low optimism for coming months.
Trade reflecting on slow Jewellery & Gem World (JGW) show. Exhibitors questioning whether to return to show given weak Chinese demand for diamonds. Poor sales of 1 to 1.50 ct., D-I, VS-SI goods amid oversupply. Many Chinese buyers absent due to low demand and Mid-Autumn Festival. Jewelry section quiet but better than diamonds.
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