Welcome back to the Diamonds Hatton Garden blog where we bring you the latest from our Hatton Garden jewellers. We continue with our ongoing series and look into the latest developments within the diamond industry and share our insights. Our weekly report examines the global diamond market for both loose white diamonds and loose fancy coloured diamonds and details from mine to shop current pricing and demand.
There is a real sense of positivity in the market as we begin to move towards July with a huge increase of 203% in jewellery sales year on year (2019 vs 2020) what this has in store for 2021 is still to be seen. An increase in consumer spending is likely although, globally, jewellers are delaying inventory replacement until more polished becomes available. As Covid-19 cases in India drop it is likely that there will be more polished stones on the market and this increase in productivity is noticed in an increase in exports.
The fancy shaped market still continues to be robust with prices firming across most sizes and categories despite shortages. We have seen that retailers are offering wider product ranges as consumers seek alternative shapes both for their value and their style. In particular, there is an increase in orders for Ovals, Pears, Emeralds, Princesses, long Radiants and Marquises. Excellent cuts are popular and are selling at premiums as one would expect. This can be attributed to a higher knowledge base for consumers who are seeking both exceptional value when looking to buy loose white diamonds.
Over the pond the US market is upbeat as demand remains steady. Despite shortages and a difficulty in filling orders, there is a notable demand for sizes 1 to 2 ct., in colours G-J S.
This sense of optimism is reflected in Belgium and is fueled by the manufacturing moment that is gathering in the US and China. The Flemish market is currently strong for smaller sizes 0.30 to 0.90 ct colours F-G anc clarity VS-SI stones.
Israel further reports a positive trend which is also driven by the US market and supported by a rejuvenation of the European market. The shortage experienced in Israel is allowing suppliers to sell old inventory of less desirable goods such as those with fluorescence and black centers. As we have seen elsewhere, the growing interest in fancy shapes is applicable to Israel.
India, often the country that one can use to measure the market, is experiencing an increase in manufacturing to satisfy the strong US and Chinese demand.Despite a limited manufacturing capacity, the local market is gaining steam and there is steady movement in F-J, VS-SI, 3X, nonfluorescent, no-BGM goods.
Finally, Hong Kong reports that retail sales are improving as the coronavirus infection rate drops. In particular, there is a stable demand for 1 to 2 ct., J-M, SI diamonds.As per the pre-Covd world, the market and demand for stones over 2 carats is slow.
We hope our look into the global diamond market is useful and, for any enquiries or advice, contact our team of family jewellers via info@diamondshg.co.uk or via +44 7951 060238.