Rapport urges the industry to reject the World Diamond Council's "WDC G7 Agreement", which will destroy small-scale enterprises. Require the industry to withdraw from WDC and join alternative proposals for cooperation with the US government.
The market is concerned about further curbing Russian sanctions. De Beers abandoned the Lightbox engagement ring, citing poor long-term prospects, and invested $20 million in a promotional campaign for natural diamonds to reshape the concept of 'A Diamond Is Forever'. Bare diamond prices have decreased, and there are concerns in the market about the fourth quarter, with US inflation rising to 3.7% in August. Fred, a subsidiary of LVMH, has launched synthetic diamond high-end jewelry. The industry has low expectations for Hong Kong exhibitions. Wishing everyone a happy, healthy, prosperous, and peaceful Jewish New Year.
Special shaped diamond: The market performance of special shaped diamond has slowed down compared to previous days. The price has decreased, but the decrease is smaller than that of circular bare diamonds. Longer oval, pear, radial, and pad shaped bare diamonds are more expensive than shorter diamonds. The prices of bare diamonds with medium to short ratios are weak. Due to low demand and high inventory, the price of square pad shaped bare diamonds has decreased. Due to a decrease in supply, the price of elliptical bare diamonds has remained stable. 0.30 carat bare diamond performed well. There are relatively few orders for 0.70 to 1.20 carat bare diamonds. VS-SI grade bare diamonds are losing market power, except for 1.20 to 1.49 carats. There is a shortage of well cut bare diamonds. A good shape can earn a premium. As consumers seek other cutting tools, retailers offer a wider range of products. Large size bare diamonds are traded at higher prices than usual. Low quality and poorly cut irregular bare diamonds do not flow and are difficult to sell.
In the United States, buyers with strong purchasing power are constantly buying; The consumption of low-income and middle-income groups is relatively slow. The performance of irregular drills continues to outperform that of round drills. The demand for small carat diamonds is stable. The dealer market will enter a relatively quiet period during the Jewish holiday.
Belgium: The market performance of diamonds is relatively calm. The demand and price of diamonds have decreased, placing them in the buyer's market. Everyone pays attention to the Hong Kong exhibition, but their expectations for sales are poor.
Israel: Trading is slow before the Jewish New Year (September 16-17). Dealers wait for the Jewish holiday to end before conducting transactions. The price cuts from Indian sellers have prompted Israeli companies to lower prices.
India: Market sentiment is low and prices continue to decline. Manufacturers control the production of bare diamonds below 50% of production capacity and offer significant discounts to clear inventory and improve liquidity. The market has low demand for diamonds with SI clarity levels of 1 carat and above, reflecting a slowdown in the performance of the US market. The market's expectations for the next few months are not high, and although artificial diamonds are popular, traders believe that natural diamond performance will recover in the future.
