Uncertainty Despite Firmer Polished Prices
February 05, 13
The Mumbai polished diamond market experienced a very slow start to the year with very low levels of trade over the first two weeks of January. There was greater movement in the latter half of the month with some lift due to demand from China for the Chinese New Year as well as domestic demand for the wedding season.
Low levels of trading in Hong Kong despite the upcoming Chinese New Year had dealers adopting a more cautious outlook through the latter half of the month.
A reduced De Beers Sight meant that fewer rough diamonds were available and prices showed signs of firming up as a result. Dealers were, however, unsure whether a price rally would be sustained as buyer resistance to higher polished prices continued.
Mumbai Diamond Trading in January
| Size in Carat (Sieve) | Comments | Forward Call |
| -0.01 (-2 ) | Good demand for SI2-I1 whites. Fair demand for VVS/VS whites & VS-SI/I-L col. | Overall demand expected to remain stable & prices expected to remain firm due to shortages. |
| -0.02 (+2-6.5) | Good demand for SI2-I2 whites. Fair demand for VVS/VS whites & VS-SI/I-L col. | Overall demand expected to remain stable & prices expected to remain firm due to shortages. |
| 0.03-0.07 (+6.5-11) | Fair demand for SI2-I1 whites & VS-SI/I-L col. | 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 whites. | Overall demand & prices expected to remain stable. Shortages will be felt. |
| 0.15-0.17 (+14-15.5) | Good demand for SI2-I2 goods. Fair demand for VVS/VS whites. | Overall demand & prices expected to remain stable. Shortages will be felt. |
| 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 VVS/VS goods. Fair demand for SI & piqué goods. | Overall demand & prices expected to remain stable. Shortages will be felt. |
| 0.30 (1/3) | Very good demand for VS-SI goods. Good demand for VVS/F col. & piqué goods. | Overall steady demand & prices expected. Prices for VS/SI goods expected to be firm. Shortages will be felt. |
| 0.40 (3/8) | Very good demand for VS-SI goods. Good demand for VVS/F col. goods. | Demand & prices expected to remain stable. Prices for VS/ SI goods expected to be firm. |
| 0.50 (1/2) | Very good demand for VS-SI goods. Good demand for VVS & piqué goods. | Demand & prices expected to remain stable. Prices for VS/SI goods expected to be firm. |
| 0.75 (3/4) | Good demand for VS-SI goods. Fair demand for VVS & piqué goods. | Demand & prices expected to remain stable. Prices for VS/SI goods expected to be firm. |
| 1.00 (4/4) | Good demand for SI-I2/K+ goods. Fair demand for VVS-VS/F- L col. | Demand & prices expected to remain stable. Better demand expected for I-L colors. |
| +3.00 | Fair demand for SI-I1/G-K col. | Overall demand & prices expected to remain soft. |