IDEX Online January Polished Market Report

February 01, 12 by Natalie J. Raps, Vicky Sharma and Edahn Golan

Despite a better than expected holiday season in the U.S., global trade is slower than usual for this time of year. In Antwerp and Mumbai, trade is sluggish and purchases are against orders. In Hong Kong, business is very slow.

The exceptions are the New York City market and Ramat Gan, where traders are willing to take a risk and are buying speculatively.

U.S.

The New Year brought a positive outlook after jewelry retailers have been reporting steady sales during the December holiday season. Wholesalers and inventory suppliers are, however, still cautious before replenishing their inventory.

Trading has reflected strong demands for rounds 0.90 to 2.00 carats in all colors in SI1 and SI2 clarities; movement continues to be reported for 3.00 carats in VS and SI qualities.

Fancy Shapes are moving across the board; most notable demands coupled with shortages are reported in cushion and princess cuts from 0.10 to 0.40 carats in VS and SI qualities.

0.05-0.15 cts, D-J / I, slow

0.05-0.15 cts, D-J / SI+, selling

0.15-0.75 cts, D-J / SI, mediocre demand

1/5-3/4, D-J / pique, selling

1/5-3/4, D-J / VS+, selling

0.90-1.50 cts, D-J / SI+, selling

1.00-2.00 cts, D-M / pique, slow

1.00-2.00 cts, F-J / SI+, selling

1.50-3.00 cts, D-M / VS-SI, selling

2.00-4.00 cts D-K / SI+, selling

4.00+ cts D-J/ pique, selling

Fancy Cuts

All fancy cuts, 0.10-0.99 cts, SI+, slow

Pears, 0.10-0.40 cts, D-J / I+, selling

Pears and Ovals, 0.20-1.00 cts, H+ / VS+, slow

Antwerp

Traders in Antwerp are seeing a pick up in demand, though a slow one. The sentiment is a cautious one, with concerns being expressed following the lower than expected outcome of the Mumbai show and the general economic outlook for Europe. As a result, purchases are against existing orders and are not speculative

Traders complain that the prices of rough and polished diamonds are still out of balance, making it difficult to enter manufacturing. At the same time, there are sporadic reports of shortages.

Rounds

0.005-0.15 cts, F-J / pique, slow

0.005-0.15 cts, F-J / SI+, mediocre demand

1/5, D-J / VS+, mediocre demand

0.25-0.90 cts, white / pique, mediocre demand

0.25-0.90 cts, F-K / SI+, good makes, selling

1.00-3.00 cts, white / pique, including goods for treatment, mediocre demand

1.00-3.00 cts, F-J / SI1+, good makes, selling

1.00+ cts, Fancy colors, mediocre demand

1.00-5.00 cts, D/ IF, slow

4.00+ cts, G-J / VS+, slow

5.00+ cts, G-J / SI1+, slow

Fancy Cuts

Princesses, Pears and Emeralds, 1.00+ cts, G-K / SI+, mediocre demand

Marquises, Radiants, Ovals, and Hearts, 1.00+ cts, G-K / SI+, mediocre demand

Tapers and Baguettes, 1/10-1/6, D-I / SI+, mediocre demand

Mumbai

The combination of the weak rupee against the U.S. dollar with two mediocre trade shows, are leading traders in Mumbai to limit their diamond buying. The mood is gloomy with traders expressing concerns that diamond purchases will lead to losses. Countering this trend are the inventory levels that are slowly decreasing, leading to a need to manufacture which will bring fresh goods to the market.

Rounds

0.005-0.15 cts, F-J / SI+, selling

1/5, H-J / VS, mediocre demand

1/4-3/8, white / pique, selling

1/4-3/4, D-J / SI+, good makes, selling

1/2-3/4, white / pique, including goods for treatment, selling

0.80-1.99 cts, F-M / VVS to SI, mediocre demand

1.00-3.00 cts, D-K / SI to pique, mediocre demand

2.00-3.00 cts, H-K / SI1+, good makes, slow

4.00+ cts, H-M / VS+, slow

Fancy Cuts

Emeralds and Stabbes (wide baguettes), 0.25-1.00 cts, D-J / VS+, slow

Marquises and Hearts, 0.25-3.00 cts, F-J / VS+, slow

Princesses, Pears and Emeralds, 2.00-10.00 cts, I-L / VS, slow

Ramat Gan

The Israeli diamond exchange continued to show decent trading activity despite the slowdown in Antwerp, Mumbai and Hong Kong. Israeli traders believe the shortage in goods being felt in various centers in due course push up prices when demand improves. One area where shortages are already being felt is for 3 carats and below goods, mainly in rounds.

Due to this, and contrary to the trend in other centers, Israelis are buying speculatively, making it a good center for trading. The one issue that casts a shadow is the recent police raids. Traders are avoiding the exchange to avoid random questioning.

Rounds

0.005-0.15 cts, D-J / pique, mediocre demand

0.005-0.15 cts, D-J / VS+, slow

1/5, G-K / SI+, mediocre demand

0.25-0.90 cts, white / pique, selling

0.25-0.90 cts, D-K / SI+, good makes, selling

1.00-3.00 cts, white / pique, including goods for treatment, mediocre demand

1.00-3.00 cts, G-K / SI+, good makes, a pickup in demand

1.00-5.00+ cts, D / IF, mediocre demand

4.00 cts, G-L / VS+, slow

Fancy Cuts

Princesses, Pears and Emeralds, 1.00-10.00 cts, G-L / SI+, selling

Ovals, Asschers and Hearts, 1.00-5.00 cts, G-J / SI+, mediocre demand

Marquises, Radiants and Cushions, 1.00-10.00 cts, G-J / SI+, slow

All fancy cuts, 1.00-5.00 cts, fancy colors, slow

Hong Kong

The Hong Kong diamond market is slow, much to the surprise of many as this does not reflect the level of demand in the global market. Selling is difficult and at times even at cost traders are not always succeeding in closing deals.

Traders hope that the local trade show in March will reinvigorate business and repay them for the lost time suffered in the past few weeks.

Rounds
0.005-0.15 cts, white / SI2 to pique, selling

0.005-0.15 cts, D-J / SI1+, good makes, selling

1/5, G-J / VS+, mediocre demand

0.25-0.90 cts, white / pique, selling

0.25-0.90 cts, H-J / SI+, selling

1.00-10.00 cts, D-J / pique, slow

1.00-3.00 cts, H-M / VVS-SI, mediocre demand

1.00-5.00 cts, D / IF, slow

4.00 cts, H-L / SI+, slow

5.00-10.00+ cts, H-L / VS+, slow

Fancy Cuts

Princesses and Emeralds, 1/10-1/3, H-K / SI+, mediocre demand

Princesses, Pears and Emeralds, 1.00-10.00 cts, H-K / SI+, mediocre demand

Marquises, Ovals and Hearts, 1.00-5.00 cts, H-K / SI+, mediocre demand

Tapers and Baguettes, 1/10-1/2, H-J / VS+, slow

Diamond Index

IDEX Online January Polished Market Report

IDEX Online Polished Market Report: Resuming Trade Doesn't Prevent Ease in Prices

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