The diamond industry is a dynamic scenario with rapid and continuous changes. According to the diamond report released by Rappaport, the month of August again saw serious changes regarding their demand, supply, prices, etc.
The diamond industry is a dynamic scenario with rapid and continuous changes. According to the diamond report released by Rappaport, the month of August again saw serious changes regarding their demand, supply, prices, etc.
Let us see the monthly changes taking place in and around the diamond market.
Fancy Diamond Market
There has been a drastic change in the supply and demand of fancy shaped diamonds since the last quarter. The prices of well-cut fancy diamonds have shot up supported by their rise in price. There is a decline in the demands of 0.30 to 1.20 ct fancy shape diamonds. Though the demand and supply of 1.20 to 3.99 ct., F-J & VS-SI fancy diamond is at a good situation.
Fancy diamond dealers are enjoying the demands of fancies with Oval shape diamond taking the lead. Other in demand shapes are Radiant, Emerald, Pear, Cushion & Marquise. Retailers and fancy shape diamond dealers face a challenge as buyers demand for alternative and rarer shapes. There is seen a hike in the demand of fancy shape diamond engagement rings that was before dominated by oval or round diamonds.
Diamond Dealers in Belgium
The Belgium diamond market is at rest as the summer vacation continues. The diamond bourses remain closed. The diamond trading is facing a slump as the consumer demands decline. The demand of rough diamonds is also seen to be declining. The diamond dealers in Belgium are optimistic about the rise in demands in the near future.
Diamond Dealers in Israel
Similar to the diamond dealer in Belgium, Diamond dealers in Israel enjoy a peaceful summer. The market is closed for the summer vacation. The diamond dealers are optimistic about demand rise from the USA after the vacation ends.
Diamond Dealers in India
India's polished diamond exports decreased 13% year over year in July, according to GJEPC. The fall is due to a slowdown in the global economy and a poor comparison to the post-lockdown recovery in 2021.
The largest diamond-cutting country in the world, India, imports more rough than it exports in terms of polished stones. As a result, net polished exports are often positive. Total exports of raw and polished diamonds less total imports results in the net diamond account. It represents India's diamond trade balance and demonstrates the extra value the country provides by turning raw diamonds into polished ones.
Summing it Up
As Belgian and Israeli diamond dealers return from their summer holidays, the diamond market is cautious with slow activity. There is some hope for the US holiday season as New York trading somewhat improves. The market for 0.20 to 0.30 ct diamonds has decreased. According to Bloomberg, Alrosa sells over $250 million worth of rough each month. Due to low profit margins, manufacturers are refraining from making excessive rough purchases. Due to sluggish sales, polished inventory levels are high. When filling orders, buyers are picky and only purchase the best diamonds.
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