Diamond traders attending the HKTDC Hong Kong International Jewellery Show said they are positively surprised by demand for diamonds at the trade fair.
Buyers are interested in a wide range of goods, fueling hopes that the trade fair is signaling a return to business – and cash flow.
Demand for one-carat goods and smaller (pointers) is most evident, with buyers interested not only in high color items, but also in lower colors, all the way down J.
Demand is also noted for 1.50-carat goods and two caraters. However, larger goods, 3-carats and up, are facing price resistance.
In terms of cut, buyers are interested in rounds and fancy shapes, such as cushions.
A number of interesting trends are emerging at the show. More buyers form mainland China are evident, many retailers and wholesalers as well as buyers that are not strictly from the trade, seeking a good price.
Another trend is strong price pressure on lower color goods. One trader called it the Zimbabwe affect – the understanding that a large quantity of polished Zimbabwean goods are about to enter the market, which is expected to lead to a decrease in the price of goods the Zimbabwean rough results in.
More than 3,100 exhibitors from 48 countries and regions, a new exhibitor record, are taking part in the 29th HKTDC Hong Kong International Jewellery Show, which ends on Monday
