News: Hong Kong exhibitions are progressing slowly. Chinese buyers are cautious in the weak economic environment. India has a low attendance rate and a sluggish market during the holiday season. G7 is considering banning Russian diamonds. The United States has imposed sanctions on Grib. The Ukrainian government agency has designated SRK as a "war sponsor", and the company denies this accusation, causing tension in the Indian trade community. Alrosa cancelled sales in September and October to reduce oversupply. De Beers will maintain stable prices for rough diamonds in September, with secondary market buyers holding down prices for certain diamonds by 20%. Petra's annual revenue decreased by 42% to $325 million, resulting in a loss of $102 million and a profit of $88 million last year. Mastercard expects holiday jewelry sales to decline by 0.3%.
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.
The United States: The overall market is weak, and middle-class spending is slowing down. The high-end market is a highlight. There is some demand for irregular diamonds and small carat diamonds with certificates. It is expected that there will be a peak in sales during holidays. The import value of bare diamonds in the United States decreased by 23% to $1.46 billion in July.
Belgium: Market sentiment is very low. Worried about the coming months. 0.50 carat and 1 carat diamonds are particularly weak, and US orders are sluggish. Many people hope that holiday trade will drive transactions. The subsequent impact of the new sanctions on Russian diamonds in the market is currently uncertain.
Israel: During Jewish holidays, trading on the exchange was lackluster. Israel's attendance at Hong Kong exhibitions is relatively low. The market crisis continues, and buyers are hesitant. There are still concerns in the market about the high price of rough diamonds.
India: Due to a decrease in activities during religious holidays, sales are weak. The decline in Chinese demand has affected the market, and the Hong Kong exhibition report is sluggish. Manufacturers are selling goods in order to improve liquidity and reduce inventory risk, leading to a decrease in prices. The domestic jewelry industry has shown strong performance despite a decrease in overseas orders. The competition from synthetic diamonds is intensifying.
Hong Kong, China: During the Jewelry and Gem Expo, market transactions were slow. Chinese buyers only purchase at high discounts. Many people are worried that prices will further decline. Mainland jewelers have high inventory and weak sales. Color diamonds sell better than white diamonds, and consumers seek lower priced jewelry.
