As the New Year gets underway, trading conditions remain subdued across the globe. Retailers and traders in the U.S. are trying to protect themselves by maintaining smaller inventories. Trends are shifting there from top quality to medium quality goods. In Belgium, traders "joke" that business is so low that they could have continued to enjoy their winter break.

 

The few demands seen in the Ramat Gan exchange are mostly focused on carat sizes (0.90-1.00 cts), G-J / SI. In Mumbai, the little demand experienced is for smaller goods of 1/6 and below, and on 1.00 cts, H-J / VS-SI. Finally, in the Far East, the Macau show ended with only a few sales being made, mainly of 1.00 carat and smaller, G-K / VS-SI goods, mainly between buyers offering low prices and sellers desperate for cash.

 

 

U.S.

The New York Market is very quiet and money continues to be tight in this financial crisis. The economic recession is causing traders to try to survive on as small an inventory as possible, with many smaller retailers also hesitant about holding onto larger-sized inventories. The market continues to experience uncertainty, with most taking a ‘wait and see’ approach.

In contrast to the very high demand for top quality goods that was the trend for the past few years, current demand for carat sizes is focused on medium quality goods. Prices have declined, but because slowly polished inventories are gradually getting smaller, ultimately this will have a positive effect on pricing.

Rounds

 0.005-0.15 cts, D-J / pique, slow

 

0.005-0.15 cts, D-J / VS+, mediocre demand

 

 1/5, D-J / VS+, moving

 

 1/4-3/4, white / pique, moving

 

 1/4-1/2, D-J / VS+, good makes, selling

 

 0.75-2.00 cts, D-J / VS+, picking up

 

 1-5 cts, white / pique, slow

 

2.50+ cts, D-M / SI1+, good makes, certified, mediocre demand

 

Fancy Cuts

 Princesses, Radiants, Asschers and Cushions, 1-5 (mainly 3.00+) cts, D-K / SI+, slow

 

Marquises, Pears, Ovals, Emeralds and Hearts, 0.25-5.00 (mainly 3.00+) cts, D-K / SI+, mediocre demand

 

 

Antwerp

The Belgium diamond market showed very slow movement with a very low number of overseas buyers and weak demand for polished as it opened following the Christmas and New Year vacation. A few traders, sarcastically referring to market conditions, say they could have continued to enjoy the vacation as there is no real need to return to work. Not being able to fully understand current market trends, uncertainty rules and most continue to ‘wait and see’ where things are heading. This waiting is accompanied by fear of additional bankruptcies, with the situation looking bleak.

 

Rounds

0.005-0.15 cts, across the board, mediocre demand

 

 1/5, D-J / VS+, slow

 

1/4-3/4, white / pique, mediocre demand

 

 0.25-0.90 cts, G-K / SI+, good makes, very slow

 

1.00-2.00 cts, white / pique, including goods for treatment, mediocre demand

 

 1.00-2.00 cts, G-L / SI1+, good makes, slow

 

 3.00+ cts, across the board, slow

 

Fancy Cuts

 Princesses, Radiants, Asschers and Cushions, 1.00-2.00 cts, D-K / SI+, slow

 

 Marquises, Pears, Ovals, Emeralds and Hearts, 1.00-2.00 (mainly 3.00+) cts, G-K / SI+, very slow

 

 Tapers and Baguettes, 1/10-1/6, D-I / SI+, slow

 

 

Ramat Gan

The Ramat Gan diamond exchange remained in a low gear, with practically no overseas buyers and only a few demands, mostly focused on carat sizes (0.90-1.00 cts), G-J / SI. However, in spite of the slow movement, traders here seem to remain optimistic about a pick up in trading levels in the months to come. The current prices of polished goods are already lower than what they were a few weeks ago, with many expecting a further decline.

 

Rounds

 0.005-0.15 cts, across the board, slow

 

 1/5, across the board, slow

 

 1/4-3/8, white / pique, slow

 

0.25-0.90 cts, G-K / VS+, good makes, mediocre demand

 

0.50-0.90 pts, white / pique, including goods for treatment, mediocre demand

 

 1.00-3.00 cts, white / pique, including goods for treatment, slow

 

1.00-2.50 cts, G-J / SI+, good makes, mediocre demand

 

 3.00+ cts, across the board, slow

 

Fancy Cuts

 Princesses, Radiants, Asschers and Cushions, 1.00-5.00 cts, D-J / VS+, slow

 

Pears, 2.00-3.00 cts, D-J / VS+, mediocre demand

 

 Marquises, Emeralds, Hearts and Ovals, 1.00-2.00 cts, D-J / SI+, slow

 

 

Mumbai

Very slow movement was seen at the Indian diamond market with practically no overseas buyers and low movement. This time of year is usually slow, but at least it tends to follow a very busy October to December season; which is not the case this year. Low demand levels are focused on smaller goods of 1/6 and below, and on 1.00 cts, H-J / VS-SI. The general morale of the traders is low and a few are expressing worry that if conditions do not improve soon the situation could get a lot worse.

 

Rounds

0.005-0.15 cts, G-J / SI+, mediocre demand

 

 1/5, across the board, slow

 

 1/4-3/4, white / pique, slow

 

1/4-3/4, D-J / SI+, good makes, mediocre demand

 

0.80-0.90 cts, D-I / VVS, mediocre demand

 

1.00-3.00 cts, white / SI to pique, mediocre demand

 

1.00-1.50 cts, H-J / VS-SI, good makes, mediocre demand

 

 3.00+ cts, D-M / VS+, slow

 

Fancy Cuts

 Emeralds and Stabbes (wide baguettes), 1/4-3/4, D-J / VS+, very slow

 

 Marquises, Pears and Hearts, 1/4-3/4, F-J / VS+, slow

 

 Emeralds, Marquises, Pears and Hearts, 3.00+ cts, H-J / VS+, very slow

 

 

Far East

The recent Macau show concluded with weak results although no one really expected otherwise. Traders note that only a few sales were made, mainly of 1.00 carat and smaller, G-K / VS-SI goods. The very low number of buyers who actually purchased goods offered very low prices, which were accepted mostly by sellers in need of cash.

 

Rounds

0.005-0.15 cts, white / SI2 to pique, mediocre demand

 

 0.005-0.15 cts, H-J / SI1+, good makes, slow

 

 1/5, G-J / VS+, slow

 

1/4-3/4, across the board, mediocre demand

 

 1.00-5.00 cts, white / pique, slow

 

1.00-2.00 cts, H-L / SI+, mediocre demand

 

 3.00+ cts, D-M / VS+, very slow

 

Fancy Cuts

Princesses, Radiants and Emeralds, 1.00-3.00 cts, H-K / SI+, mediocre demand

 

 Princesses and Emeralds, 1/10-1/3, H-K / SI+, slow

 

Marquises, Pears, Ovals and Hearts, 1.00-3.00 cts, H-K / SI+, mediocre demand

 

 Tapers and Baguettes, 1/10-1/2, H-J / VS+, slow