Good consumer traffic and strong demand for some categories of diamonds raised the mood of diamond dealers at the Hong Kong International Jewelery Fair last week, Rapaport reports.
Many participants were satisfied with the results of the fair and said that they exceeded expectations and were better than the corresponding figures in 2012. Exhibitors watched a lot of interest and received a large number of preliminary applications for goods, which would not necessarily lead to the corresponding sales, since there remains a significant discrepancy between the prices offered by buyers and the requirements of sellers.
Although sellers raised prices, buyers remained relatively conservative, despite improved demand for goods.
Among visitors to the fair, buyers from mainland China prevailed, and their interest in the goods surprised some dealers who noted that the Chinese New Year's season was not particularly good. Some participants say that in the last nine months, the Chinese have almost never entered the market, so now their stocks are depleted.
Diamonds were bought actively, but selectively, because neither the retailers in the Far Eastern region nor their colleagues from South-East Asia want to increase their inventory excessively.