Industry News by Nemesis

Rapaport Weekly Market Comment

September 17, 2017

Market sentiment improves as Hong Kong fair opens to steady traffic. Large volume of goods at the show, with selective demand for top-grade RapSpec A2+ diamonds. Chinese buyers looking for goods, but testing price levels. Asia recovery drives Richemont 5-month jewelry sales +16%. Alrosa sells $258M in Aug. as rough market slows. Petra halts Williamson mine after reported rough-valuation dispute with Tanzanian gov’t. De Beers report urges diamond marketers to reflect women’s economic empowerment. The Rapaport Price List will not be published next week (Sep. 22) due to Rosh Hashanah. Best wishes to all for a happy, healthy, peaceful and prosperous Jewish New Year. 

Fancies: Ovals selling well in US. Pears and Cushions steady. Squares soft, with declining interest in Princesses. US demand supporting market for commercial-quality, medium-priced fancies for sizes under 1 ct. Selective buyers of large, fine-quality fancy shapes facing limited supply. Far East demand improving as consumers seek fancy shapes at better prices. Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts. 

United States: Stable market, with dealers watching for trends from the Hong Kong show. Many suppliers sent goods on memo with others instead of exhibiting. New York Diamond Dealers Club organizing buyer trip for Shanghai. Local activity improving since summer as retailers prepare holiday inventory. Steady demand for 1 ct. H-K, VS-SI diamonds. 

Belgium: Antwerp quiet with large delegation of suppliers in Hong Kong. Trading stable, but dealers hope steady orders at the show will spur stronger holiday trading. Demand specific, with very little inventory-buying. Steady demand for 1 ct., G-I, VS-SI diamonds. Rough trading slowing, as polished inventory is high. 

Israel: Many dealers attending the Hong Kong show, leaving bourse activity low. Expectations rising that Far East demand for large stones will improve, with shortages supporting 3 ct.-plus market. Steady dealer demand for RapSpec A2+ (3X, no fluorescence) diamonds. US orders sluggish for this time of year. Rough market slow, with softer prices at auctions. 

India: Mumbai trading low-key, with many dealers and large volume of goods at Hong Kong show. Buyers testing the market with offers at higher discounts. Suppliers reducing prices on old stock that’s been difficult to move. Steady demand for SI goods. Manufacturing slowing due to concerns of oversupply and tight liquidity before Diwali. 

Hong Kong: Busy activity and steady traffic at the show. Few transactions in opening days as buyers assess prices and availability. Steady demand for G-J, VS-SI goods. High-end, D-F, VVS+ weak. Chinese jewelry demand stable ahead of October 1 Golden Week. 


Source: Rapaport

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