The TradersDiamonds Market Update – 13/04/2009

Market Updates are going to be a regular feature on the blog. We keep track of all the international happenings that impact the diamond trade and closely monitor trade activity across major markets. Doing this is extremely important for us as we are involved in a truly global business. Moreover, having a brokerage model, which works on thin margins, makes it imperative that we are always on our toes and react quickly to market changes. We believe that sharing the power of this information with our customers will help them gain a competitive advantage in the market place. So here we are with our first update. We are hoping to create a forum to facilitate two-way exchange of information and hence request your active involvement.

Basel World 2009

We will start with a review of BASELWORLD, which is the biggest luxury goods trade show in the world. The 2009 event saw 1,952 exhibitors from 45 countries showcasing their latest products and innovations. The eight day event which came to a close on 2nd of April once again reaffirmed itself as the leading global business platform for the watch and jewellery industry and gave a fresh lease of life to the various exhibitors.

Expectations were really low for the show this year in wake of the global economic recession. However, the show surpassed all those mediocre expectations. The event was bustling with activity and there was active participation from both buyers and sellers. Although, sales orders dropped down from last year, they were still far higher than waht most participants were expecting. Another measure fo the success was the significant increase in the number of international visitors.

The unexpected turnout and enthusiastic response has raised the morale of the entire jewellery industry. There is new hope and the show participants are forecasting a much better second half of the year. BASELWORLD truly managed to live up to its name once again.

The next year’s event will be held in Basel between 18 to 25th March.

News from the Markets

New York

The New York Market is slowly and steadily picking up. The unexpected success of the Basel show has created an optimistic outlook in the market. Interest in goods has increased and the trade is hopeful that a strong second and third quarter of 2009 will make up for the low numbers in the early part fo the year.

The biggest movement has ben seen for 0.05 to 0.15 cts, whose demand has really picked up. The other categories where demand has improved are the 0.50+ carat fancy cuts. The short supply for Carat sizes and larger in G-K / SI+ has helped in stabilizing the prices for these articles.


Antwerp

Trading has increased to decent levels at the Belgium diamond exchange. This market has also benefited from the positive energy of the Basel Show. Rough buyers who were absent for a long time have started making inquiries again although not much is happening in terms of actual sales as rough prices are still very high. In terms of demand, it is slowly picking itslef up across the board , with no category shoing significant movement.

Mumbai

A rise in local demand has put some life into the maket. So much so that some manufactures are contemplating going in for new production. A few overseas buyers have started making inquiries. Trade experts feel that these are optimistic signs for the market. The highest demand is for round in small parcels of 0.005-0.15 cts, F-J / SI and 80 pointers in F-J / VVS.


We hope that you found the update useful. We will continue to rpovide you with similar news and updates from around the World. Suggestions are welcome to make the update more informative. If you have any questions about diamonds or the diamond trade, then please feel free to ask us.

Thanks

The TradersDiamonds Team Sphere: Related Content