In the newly released market report by Rappaport, the diamond world has seen serious changes over the period of two months.
In the newly released market report by Rappaport, the diamond world has seen serious changes over the period of two months. Diamond dealers are trading slowly amid price uncertainties. Polished diamond prices decline but buyers are still waiting for further decline. Diamond suppliers are willing to negotiate to raise liquidity and reduce the inventory of less desirable goods.
As the tensions between Russia & Ukraine rise, The USA places Alrosa on OFAC Specially Designated Nationals list, blocking all US transactions with or benefiting the miner. Alrosa cancels the April tender as more banks refuse to facilitate payments.
As the tensions between Russia & Ukraine rise, The USA places Alrosa on OFAC Specially Designated Nationals list, blocking all US transactions with or benefiting the miner. Alrosa cancels the April tender as more banks refuse to facilitate payments.
Fancy Diamond Supplies
Fancy diamond dealers across the world see a decline in supply accompanied by prices. Though there is a decline, 1.20 - 3.99 carat diamonds see a sharp demand. The hottest fancy diamond category ranked are Oval, followed by Emerald, Cushion, Pear, and Marquise. Diamond enthusiasts are now looking for alternative diamond shapes. Consumer demand is seen for fancy-shape engagement rings. The demands are so high that fancy diamond dealers are able to sell their products at a higher price. With natural, fancy cut diamonds getting popularity; poorly cut fancy shapes are becoming difficult to sell.
Diamond Dealers in Belgium
Loose diamond dealers in Belgium experience concerns regarding what impact US Alrosa sanctions will have on the Antwerp diamond trade. Though there is uncertainty regarding Russian supplies, rough diamond dealers in Belgium are satisfied with the selling price. Dossier diamond dealers experience weak demands due to rising Covid-19 measures.
The US markets are demanding large diamonds and small stones see weak demands. Loose diamond dealers in Antwerp are waiting for positive signals from the US and are worried about retail backlash on Russian diamonds.
Diamond Dealers in Israel
Diamond dealers in Israel see robust figures in the first quarter. The dealers are still skeptical as the Russia crisis has raised questions about how long the trend will last. Polished diamond imports have increased by 46% to $942.1 million. Rough diamond imports rose by 3.8% to $494.4 million. Rough diamond exports jumped 35% to $526.5 million.
March 2022 saw doubled polish diamond exports from $242.1 million to $498.6 million. Though it has been a good sign, April will see a decline. The key metrics will likely reflect the impact of international sanctions on Russia.
Diamond Dealers in India
Indian diamond dealers see a slow but steady business. Polish diamonds see a cool-off after an extreme peak in January and February. The dealers are skeptical as well as the tensions of Russian closure loom overhead. Though the market is sluggish, there has been a solid demand for round and fancy diamonds.
The polish diamond trading is slowing down amid the market uncertainties. There have been fewer orders as compared to January-February.
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