Cautious Start, Price Key Issue at Hong Kong Show

(IDEX Online News) – The September Hong Kong Jewellery & Gem Fair opened on Wednesday, as the global diamond industry is hoping to see good demand picking up from Asian markets, signifying an end to a yearlong dry spell.

On Thursday, good traffic was seen at the AsiaWorld-Expo near the Hong Kong airport, where the smaller part of the show opened.

Diamond traders said that business was not strong. Many inquires came from other traders, however price is a high barrier.

Typically, most transactions take place on the weekend, and sometimes on the very last day of the show, after buyers had a chance to compare prices and hope that last minute orders will lead to better prices.

Some 3,500 exhibitors from around the globe will attend to an expected 50,000 visitors by the time the show ends on Tuesday September 25. On Friday, the main exhibition opens at the Hong Kong Convention & Exhibition Centre.

After a sharp decline in demand for diamonds that started in August 2011, and a series of slow trade fairs since then, diamond traders looking forward to fourth quarter consumer demand are hoping to see jewelry makers and retailers placing orders starting this week.

The Hong Kong fair also hosts gem and pearl traders, jewelers, service providers and equipment makers, forming one of the world's largest and most important trade shows for the diamond and jewelry industry.