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Edahn Golan: Diamond Industry Q1 Analysis

publish:2020-04-23

Industry analyst Edahn Golan released a report regarding the industry performance of the first quarter of 2020 which, is inevitably impacted by the Corona virus pandemic.

 Polished diamond prices were largely stable in March after rising in January and falling in February.

 Wholesale inventories rose following large rough purchase and a drop in sales.

 Demand plummeted to its lowest since 2009.

 US: Despite continued activity deep into March, a rise in unemployment threatens to add an additional burden on future diamond sales, especially bridal.

 India: The country is under full lockdown and diamond activity is down to a trickle.

 Belgium: Government-backed support is eleviating some of the pain, including an important agreement with banks on credit supply and interest rates.

 Hong Kong: Long hard hit, yet in late March some activity resumed.

 Israel: The worst hit diamond center. With no government support for the industry and a soaring 25% unemployment rate, the prospects are grim.

Bank financing continued to decline during the quarter, mainly in Israel.
An exceptionally high rough diamond supply in January was reduced to near zero in March.
Rough diamond prices at tenders were down sharply.
LGD prices were stable until February, and then trade stopped.
Source: The Diamond Loupe

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