What Happened in Vegas

Avi Krawitz

The JCK Las Vegas show ended on Monday with mixed reports from diamond ‎exhibitors. Overall, the show was okay. While it did not signal a significant boom in ‎trading, most left satisfied that the U.S. market is stable in the near term.‎

Here are some of the trends that emerged at the show. ‎

•    Square shape fancies were strong and selling at low discounts. Larger ‎discount on princess cuts. There is a shortage of well-made fancies in the ‎market.

•    Rounds weaker. Prices relatively firm.  Clean makes, Triple Ex goods in ‎demand. Best demand for SI goods, with shortage in supply.‎

•    Polished suppliers holding prices firm due to high rough prices. Little to ‎no profitability on manufacturing.‎

•    BHP Billiton rough prices fell about 7 percent at its recent tender. Cutters hope De Beers ‎lower prices at next week’s Diamond Trading Company (DTC) sight, but ‎don’t expect it.‎

•    Luxury traders had a strong show. Similar positive feedback from the ‎Couture and Antique shows.  ‎

•    The U.S. market okay, not booming, but a source of stability for the global ‎market. ‎

•    Indians were not at the show, and it was difficult to sell to those that were. ‎Some expect them to have more of an impact at the June Hong Kong ‎show. ‎

•    Strong buying by Israelis.

•    Belgians are weak in the polished market.‎

•    Many are looking toward the June Hong Kong show, that begins on June 21, as more of a market ‎indicator for the second half of the year, as they are not sure about the ‎current state of Far East demand.

Source Rapaport