Buyers focused on lower price points. Diamond exhibitors reported mixed sales at the Hong Kong Jewellery and Gems Fair as buyers focused on lower-price-point, commercial diamonds ahead of the fourth quarter. Prices held relatively firm throughout the show maintained by steady Chinese demand for smaller certified goods.
“There’s still resistance in pricing, especially from the Indians,” said Dror Marom, regional manager of China for Dalumi Diamonds. “But Chinese customers are showing some flexibility because some items are in high demand and they need goods in time for the holidays.”
Most polished suppliers who spoke with Rapaport News noted that activity in the diamond section of the show was dominated by buyers from Mainland China as they shopped for goods ahead of the October Golden Week, which is the second-busiest retail season in China after the Chinese New Year.