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Antwerp Diamond Rade Weathers Q1

publish:2020-04-30

Antwerp's robust trading momentum in January and February was short-lived. COVID-19 first closed the Asian markets and gradually affected the global diamond industry. Antwerp's rough diamond trade, which had performed well in the first quarter, was eventually restricted by the global pandemic, forcing the Belgian government to shut down operations throughout the region.

Antwerp’s polished-diamond trade was hit hard in the first quarter by the postponement of the Hong Kong International Diamond, Gem & Pearl Show and the Hong Kong International Jewellery Show, which were the main sales events at the start of the year. Rough diamond exports are also suffering as demand from manufacturers, mainly in India, begins to slow.

Preliminary figures recently released by the Antwerp World Diamond Centre (AWDC) show that since the beginning of April, Belgian diamond trade has fallen to just about 4% of the level of the same period last year. “Each link in the chain of the international diamond trade has come to a standstill,” said spokeswoman Margaux Donckier. She added that the early signs of recovery from China’s jewelry trade provide a “glimmer of hope.”

 
Source: Rough&polished

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