The market is sluggish. As prices continue to decline, India's trade is in crisis. In July, the 1-carat RAP index decreased by 2.7% and 0.50 carats decreased by 4.8%. Belgium and Israel are currently on summer vacation. American merchants selectively buy, thus having better marketable inventory than Indian manufacturers. The US jewelry industry shrank by 2.4% in the second quarter to 23424 companies, according to a JBT report. Market concerns about synthetic diamonds still exist. The market in Chinese Mainland is weak. The Hong Kong market has improved, with sales of jewelry, watches, clocks, and precious gifts increasing by 64% in June, reaching 713 million US dollars. With the opening of the IIJS exhibition in Mumbai, there is optimism about the demand for Indian jewelry. RJC updates the terms to allow for the dismissal of members. According to reports, armed robbers stole approximately $13 million in jewelry from the Count of Paris store.
Special shaped diamond: The performance of the special shaped diamond market is slower than before, but better than round diamonds. The price of diamonds has decreased, but the downward speed is lower than that of a circular shape. The prices of longer elliptical, pear shaped, rayon shaped, and pad shaped diamonds are higher than those of shorter diamonds. Diamonds with medium to short ratios perform weakly. The market performance of the horse eye shape has improved. The demand for cushion drills has decreased. A 0.30 carat diamond performs well. Diamond orders ranging from 0.70 carats to 1.20 carats are relatively low. VS-SI grade diamonds have lost their advantage, with the exception of 1.20 to 1.49 carat diamonds. There is a shortage of well cut diamonds, and high-quality cut diamonds have higher prices. Retailers offer a wider range of products as consumers seek alternative shapes of diamonds. The transaction price of oversized diamonds is higher than the usual level. Specially shaped drills with poor cutting skills are not flowing and difficult to sell.
United States: Demand for diamonds with 1 to 2 carats, G-I color, and SI1-I2 clarity levels is weak, with synthetic diamonds occupying market share. Retailers purchase in the form of memorandums to avoid purchasing inventory. The sales situation of irregular diamonds is better than that of round diamonds, especially for oval and other long stepped diamonds of 3 carats or more. Enterprises are turning to purchasing categories with better market performance. The sales of high-end diamonds are stable, and the market has a strong demand for high-quality colored gemstones.
Belgium: Industry vacation until August 21st.
Israel: Business is weak during vacation. Buyers only purchase products with specific needs and hope to pay a lower price.
India: Prices continue to decline, purchases remain weak, and there has been no improvement. Large companies are flexible in pricing to compete for sales. Smaller companies are affected. The increasing prevalence of delinquent payments and memorandum transactions has raised concerns about liquidity in the market. Low value diamonds maintain the market, but the decrease in sales of small carat rough diamonds indicates that the field is slowing down. Seasonal decrease in domestic demand; The market hopes that the IIJS exhibition (August 3-8) can drive improvements in trade activities before the Diwali Festival (November 12) and wedding season.
Hong Kong, China: The market is seasonally sluggish with some memorandum transactions. A decrease in full sales. May the September exhibition boost market trade. With weak demand in Chinese Mainland, jewellers are trying to clear their inventories in the summer. Circular, 0.80
Hong Kong, China: The market is seasonally sluggish with some memorandum transactions. A decrease in full sales. May the September exhibition boost market trade. With weak demand in Chinese Mainland, jewellers are trying to clear their inventories in the summer. Round, 0.80 to 1.50 carats, G-J color, VS clarity, and 3X grade diamond orders support the industry. Pear shaped and emerald shaped 1 to 2 carat diamonds sell well. The competition from synthetic diamonds is beginning to affect Hong Kong's business.
