IDEX Online Market Report - 28/08/08

The world's diamond markets remain sluggish, with some centers still on vacation and others slowly getting back to business as usual. With preparations already beginning for the all-important holiday period, many traders are looking to the Hong Kong show as a harbinger for the coming season. In the U.S., demand continues for all sizes in higher clarities of SI and better, while lower clarities are seeing a rise in sales in the smaller sizes. In Antwerp, business is slowly returning to normal, with traders looking to the Hong Kong show to sell their larger goods, mainly 4.00+ cts. In Mumbai, buyers and sellers are playing a "cat and mouse" game of wait and see. Prices are high, but sellers are refusing to reduce prices and thus to sell goods at a loss. The Hong Kong market has picked up slightly as show preparations begin in earnest.

The Israel diamond exchange remains closed this week for its three-week annual summer vacation. Our next report from this center will be on September 4.
 

U.S.
The U.S. market continues to be fairly slow, with some sporadic increases in activity noted. Many diamantaires are still on vacation, which, in addition to the upcoming Labor Day weekend, explains the quiet state of the market.

Larger companies continue to stock up for the forthcoming holiday period, and expectations for a good season are starting to build up. However, high prices mean limited inventories for many smaller retailers. Demand for higher clarities of SI and better continues in all sizes, while lower clarities are seeing a rise in sales in the smaller sizes.

 1/4-3/4, white / pique, slow

 0.25-0.90 cts, D-J / VS+, good makes, mediocre demand

 1-5 cts, white / pique, including goods for treatment, mediocre demand

 1-10 (mainly 2.50+) cts, D-M / SI1+, good makes, demand remains below normal levels alongside very high asking prices

Fancy Cuts
 Princesses, Radiants, Asschers and Cushions, 1-5 (mainly 3.00+) cts, D-K / SI+, slow

 Marquises, Pears, Ovals, Emeralds and Hearts, 0.25-5.00 (mainly 3.00+) cts, D-K / SI+, mediocre demand

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


Ramat Gan
The Israel diamond exchange remains closed this week for its three-week annual summer vacation. Our next report from this center will be on September 4.

Mumbai
There was little change in the slow movement of the Mumbai diamond market, where even local demands were relatively low. Overseas buyers are somewhat confused with the situation. On the one hand, the center is very slow meaning they expect prices to come down. On the other hand, however, in spite of building pressure to sell goods and move inventories, suppliers are not caving in to this pressure from buyers, and are refusing to sell their goods at reduced prices, which according to them will be at a loss. They prefer, instead, to ‘sit’ on the goods a while longer.

Rounds
 0.005-0.15 cts, across the board, good demand

 1/5, across the board, slow

 1/4-3/4, white / pique, mediocre demand

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

 0.80-0.90 cts, D-I / VVS, good demand

 1-5 cts, white / SI to pique, selling, mainly to Israeli buyers

 1.00-1.25 cts, G-H / IF-VVS2, good makes, selling

 1.00-3.00 cts, D-L / VS+, good makes, sluggish

 4.00+ cts, D-M / VS+, slow

Fancy Cuts
 Emeralds and Stabbes (wide baguettes), 1/4-3/4, D-J / VS+, slow

 Marquises, Pears and Hearts, 1/4-3/4, F-J / VS+, mediocre demand

 Emeralds, Marquises, Pears and Hearts, 3.00+ cts, H-J / VS+, slow

Far East
The Hong Kong market showed a slight increase in activity levels as the long awaited September show, which begins in the middle of the month, is just around the corner. Many traders from the major global centers are expected to import huge quantities of goods to Hong Kong, notably with an emphasis on the larger sizes of 4.00+ cts, all shapes and colors / VS+. Many suppliers have been ‘stuck’ with these goods in their safes for quite some time now and welcome the opportunity to part with them, at the right price.

Rounds
 0.005-0.15 cts, white / SI2 to pique, slightly picking up

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

 1/5, G-J / VS+, mediocre demand

 1/4-3/4, white / pique, mediocre demand

 1/4-3/4, D-J / VS+, good demand

 1-5 cts, white / pique, mediocre demand

 Princesses and Emeralds, 1/10-1/3, H-J / VS+, mediocre demand

 Marquises, Pears, Ovals and Hearts, 3.00-5.00 cts, D-K / SI+, in demand

 Tapers and Baguettes, 1/10-1/2, D-J / VS+, mediocre demand