Trade in fancy color diamonds is sluggish across all categories due to the impact of the coronavirus pandemic, with retail stores of many luxury brands temporarily shuttered, Rapaport reported.
“Inventory still low in some categories of pears and ovals, but very little demand,” it said. “High availability of other categories, with cushions showing similar price declines to rounds.”
Activity across polished diamond markets remained thin due to reduced demand.
Indian diamond manufacturing has reopened cautiously and is proceeding with reduced staff levels.
The Indian trade has deferred plans to pause rough diamond imports for one month from June 1, instead of mid-May as originally foreseen, due to delays in receiving deliveries linked to shipping restrictions during the lockdown, Rapaport reported.
A suspension of rough diamond imports to India would reduce a supply overhang of polished diamonds and help to underpin markets, dealers said.
The lockdown in India, the world’s dominant centre for processing diamonds, has been extended until May 31.
Les Mini Adorables, an original, bespoke collection created by natural fancy coloured diamond specialist Yves Frey.