Hopes Pinned on Domestic Sales Driven by Bridal Demand
December 02, 12
Diwali this year didn’t bring the usual lift in movement and accompanying firmer prices that it usually does. Dealers said trading continued at routine levels. Most dealers were, nevertheless, happy with the way the festival went. The market had stabilized considerably and the fears of a complete crash in the months running up to the festival had receded.
With a long marriage season ahead – from November to February with the exception of two weeks in January – the Mumbai polished diamond sector is now focused on the domestic market, as it offered the best hope of sustained sales over the next few months.
As fresh polished goods would not arrive in the market until the end of December, initial post-Diwali sales were dependent on existing stocks. This means that prices are expected to remain relatively stable until the end of the year.
Mumbai Diamond Trading In November
| Carat Size (Sieve) | Comments | Forward Call |
| -0.01 (-2 ) | Good demand for SI2-I1 whites. Fair demand for VVS/VS whites & Top shades. | Overall demand & prices expected to remain stable. Shortages of goods expected as new production will take time to arrive in the market. |
| -0.02 (+2-6.5) | Good demand for SI2-I2 whites. Fair demand for VVS/VS whites & Top shades. | Overall demand & prices expected to remain stable. Shortages of goods expected as new production will take time to arrive in the market. |
| 0.03-0.07 (+6.5-11) | Good demand for SI2-I1 whites. Fair demand for VS-SI/Top shades. | Overall demand expected to be specific & in few categories only. Prices expected to remain soft. |
| 0.08-0.14 (+11-14) | Good demand for SI2-I2 goods. Fair demand for VVS- VS goods. | Overall demand & prices expected to remain stable. Shortages expected in SI & piqué goods. |
| 0.15-0.17 (+14-15.5) | Good demand for SI2-I2 goods. Fair demand for VVS- VS goods. | Overall demand & prices expected to remain stable. Shortages expected in SI & piqué goods. |
| 0.18-0.22 (1/5) | Fair demand for SI & piqué goods. | Overall demand & prices expected to remain stable. |
| 0.23-0.29 (1/4) | Good demand for SI goods. Fair demand for piqué goods. | Overall demand & prices expected to remain stable. |
| 0.30 (1/3) | Good demand for VS-SI goods. Fair demand for VVS & piqué goods. | Overall steady demand & prices expected. Better demand expected for VVS-VS from domestic market. |
| 0.40 (3/8) | Good demand for VS-SI goods. Fair demand for VVS & piqué goods. | Demand & prices expected to remain stable. Better demand expected for VVS-VS from domestic market. |
| 0.50 (1/2) | Good demand for SI & piqué goods. Fair demand for VVS/VS goods. | Demand & prices for SI goods expected to remain stable. Better demand expected for VVS-VS from domestic market. |
| 0.75 (3/4) | Good demand for +0.90 cts. SI & piqué goods Fair demand for VVS/VS goods. | Demand & prices for SI goods expected to remain stable. Better demand expected for VVS-VS from domestic market. |
| 1.00 (4/4) | Good demand for SI-I2/K+ goods. Fair demand for VVS-VS/ F-L col. | Demand for SI/I1 goods expected to remain strong. Better demand expected for VVS-VS from domestic market. |
| +3.00 | Fair demand for SI-I1/G-K col. | Overall demand & prices expected to remain soft. |