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Rapaport Weekly Market Comment
Mar 9, 2017 11:00 AM
By Rapaport News
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Dealers optimistic
about short-term demand following improved trading at the Hong Kong show. Buyers
did better than sellers as suppliers were willing to compromise on price in
order to generate liquidity and reduce inventory before new better-quality polished
production becomes available. Chinese demand changing and competing with U.S. market
for lower-price-point SI-I1 goods, leaving IF-VVS weak. Signet Jewelers 2016
sales -2% to $6.4B, profit +16% to $543M. Belgium Feb. polished exports -15% to
$1.4B, rough imports -32% to $908M. GIA discovers large parcel of undisclosed
CVD synthetics mixed with natural melee at Mumbai lab. Russia confirms Sergey
Ivanov as new ALROSA CEO.
Fancies: Fancy-shape demand for Pears good in the Far East
with Ovals overtaking Pears as strongest shape in the U.S. Shortages of
fine-quality, large Pears and Ovals. Cushions stable. Emeralds selling better
than Princesses. Some demand for big fancy shapes, but buyers extremely picky. Improving
demand for Radiant, 3.01 to 9.99 ct., D-I, SI1-SI2 elongated stones. Large
price differentials between excellent- and average-cut fancies. Off-make,
poorly cut fancies illiquid and very hard to sell, even at very deep discounts.
United States: Polished trading stable with positive momentum
from the Hong Kong show. Steady demand for 1 ct., G-J, VS-SI diamonds. Good
demand for SIs to fill orders for retail programs. Better-quality D-F, IF-VVS
slow. Large-stone demand selective and price sensitive. Jewelry retail sales stable
with March-April a slower period of the year.
Belgium: Positive sentiment as trading improved at the
Hong Kong show. Dealers optimistic about short-term rise in polished
trading after slow start to the year. Market encouraged by steady U.S.
demand and improving Chinese buying. Good demand for 0.30 to 1 ct., I-K, VS-SI
diamonds. Rough trading stable with manufacturers concerned about tight profit
margins.
Israel: Dealers more optimistic after Hong Kong show.
Good Indian demand for I-K colors. Chinese buyers shifting to SIs. Fancy shapes
stable with good demand for Pears and Ovals. Squares weak. Inventory levels
steady with new better-quality polished production becoming available.
India: Polished market stable as dealers returned from
positive Hong Kong show. Dealers optimistic about the U.S. and hopeful the
Chinese market is starting to improve. Good demand for GIA dossiers, especially
SIs. A lot of imperfect goods (milky or black-spotted) on the market. Steady
rough demand as major manufacturers raise production levels.
Hong Kong: Positive mood as dealers focus on follow-up
after the show. Good dealer demand for loose diamonds which were more liquid than
finished jewelry at the show. Steady demand for 1 ct., G-H, VS-SI, 3X diamonds.
Chinese independent retailers shifting to lower price-points signaling a change
in consumer demand. Yuan depreciation against the dollar (-6.4% in the past
year, -0.5% this week) limiting buyers’ budgets.
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Tags:
Rapaport News
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