Strong Demand for Squares, Parcels at Hong Kong Show
June 26, 11
(IDEX Online News) – High prices sway buyers towards goods otherwise they would not have widely considered, according to exhibitors at the June Hong Kong Jewellery & Gem Fair. Buyers opted for Very Good makes instead of Triple Excellent and parcels instead of Dossier items, for example.
Diamonds, semi-precious, pearls and jewelry are selling very well, traders are reporting, and high diamond prices are a tough but not an unmountable barrier.
Commercial goods and other items popular in the Mainland China market are in very high demand. Strong demand is also noted for square cut diamonds.
Larger companies, those with a wide offering, are having a fantastic show and their booths are usually crowded with buyers.
More Chinese buyers than usual are attending the show. They and Indian buyers are the dominant force behind the purchases this weekend.
Traders that insisted on the high prices found that at times buyers preferred to buy down. Some wholesalers feel that they can get better prices for the high-end goods in Antwerp or Ramat Gan. Another reason for insisting on the prices was a desire to be able to replenish their stock with the same margins.
Others feel that prices will continue to rise and prefer to sell for 1% less and keep the money turning.
In general, the high prices are being maintained. Traders are currently unsure if prices will continue to rise or level off until late July and early September.