Diamond dealers busy but uncertain about market direction. Suppliers maintaining prices and expecting uptrend to continue; buyers concerned about replacement costs and tight profit margins. 1 ct. RAPI +6.9% in Jan. Price gains stimulated by expensive rough, scarcities and US demand. China quiet..
ositive market mood tempered by geopolitical tensions, stock-market volatility and continued Omicron spread. Dealers cautious about price levels despite good demand and shortages of 3X stones. Easier to sell than to buy. Rough trading steady amid low supply. Alrosa Jan. prices +5% to +7%; 2021.
Diamond market hot as De Beers raises rough prices an estimated 15% for small goods, 5% to 12% for 3-grainer and larger. High premiums on secondary market due to scarcities. Polished demand strong, but suppliers waiting for better prices. Shortage of 3X stones above 0.70 ct. fueling price.
Dealers returning from vacation confident that positive momentum will continue. Some polished suppliers holding back goods in anticipation of higher prices after next week’s De Beers sight. Many expect price hike and substantial rough sales in Jan. US retailers starting to restock after.
Rapaport’s editorial team discusses Covid-19’s impact on the market (again), some surprising trends from the holiday season, and the mysterious world of non-fungible tokens (NFTs).
RAPAPORT. It’s time for optimistic dreams for the year ahead, reflection of the holiday period and tech trends.