(diamonds.net) - The timing of the September Hong Kong Jewellery & Gem Fair was unfortunate, coming amid a wave of anti-government demonstrations in the city. But for many participants, the political tensions were masking the bigger issue: Chinese demand has slowed, compounding the wider problems in the diamond industry. The trade war, the depreciation of the Chinese yuan currency, and high gold prices have reduced the buying power of companies and consumers in the country, exhibitors noted at the fair. Trade customers are mostly unwilling to buy for stock or make advance bulk orders, as they want to keep their inventory down. Some Chinese jewelers believe they can get better deals if they wait for polished prices to fall further.
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