The diamond market experienced yet another change in September. As per the reports released by Rappaport, the diamond market saw drastic changes in customer demands, diamond supply, prices, etc.
Diamond Demands Around the World | October 2022
The diamond market experienced yet another change in September. As per the reports released by Rappaport, the diamond market saw drastic changes in customer demands, diamond supply, prices, etc.
Let us look at the diamond industry prevailing in September and what to expect in the coming future.
Diamond Demands in the USA
The USA diamond market saw positive momentum in September. According to figures from the US Department of Commerce, polished diamond imports into the US increased 9% yearly to $1.89 billion in July, continuing the momentum seen in the first half. The number of shipments declined 17%, indicating a move to more extensive and higher-quality items; the average import price jumped 33% to $2,144 per carat.
The holiday season is approaching, which is expected to bring high diamond demands. Diamond dealers are experiencing demands from diamond jewelers for branded items and basic categories like tennis bracelets, pendants, and bridal. Diamond trading is expected to become more polished. Trading is more polished—orders for 1 ct. And bigger rounds and fancies exceeding 2 ct. are being filled by diamond dealers in the USA. As demand has shrunk and purchasers have become more choosy, top-quality, 3X goods with no fluorescence have become bestsellers.
According to reports and future forecasts, US retail sales will grow 4% to 6% year on year this holiday season as higher prices compensate for poor consumer sentiment. According to the professional-services group, revenue will range between $1.45 trillion and $1.47 trillion from November through January. E-commerce sales will increase by 13% to 14%, totaling between $260 and $264 billion. The total growth rate is accepted to slow from last year's 15% increase due to the negative impact of inflation and a move toward spending on services and experiences.
Diamond Dealers in Belgium
Diamond dealers in Belgium are experiencing uncertain polished diamond demands amidst the demand slowdown. Buyers are pressing for more significant discounts because they believe providers need to increase liquidity and move inventory. Orders from the United States have been consistent, with a strong demand for 1 ct., G-J, and VS-SI diamonds. The rough market is cautious ahead of the De Beers sighting next week. Facets 2022, which took place in Antwerp from September 14 to 15, generated a lot of buzzes.
It is predicted that jewellery sales will increase 2.2% year on year from November 1 to December 24. This would represent a 33% rise over the Mastercard projection for 2019. Holiday sales in all retail sectors, excluding automotive, are expected to rise 7% from last year and 19% from 2019.
According to the data, August jewellery retail sales increased 17.5% year on year and 87% compared to the same month in 2019. Sales in all categories increased by 12% year on year and 20% compared to 2019.
Diamond Dealers in Israel
As prices continue to fall, diamond dealers in Israel should exercise caution. Buyers expecting cheaper pricing are willing to wait before placing large buys. Consistently the US sales are insufficient to compensate for deterioration in other areas. A slight pause in 1 ct. rounds. Fancies exceeding 2 carats are improving.
Diamond Dealers in India
The diamond dealers in India are experiencing a sluggish market due to limited demand from the Far East. Concerns about liquidity as sales decline. The Jewellery & Gem World expo in Singapore is expected to kickstart commerce. The slow movement in the 0.30 to 0.50 ct. range. Larger sizes are preferable. Buyer interest in unusual shapes is growing. Polished manufacturing is running at less than capacity; inventory is significant, and rough supply is expensive.
Want to stay updated on the current news of the diamond industry?
Stay Connected with Anita Diamonds.
