Interesting selling season just finished in Bangkok and Hong Kong. Mustang material not visible so any that has made it to market is blended with African dealer material as theorised. Ruby over all is seeing some growth, and the suspected jump in pink sapphire material paid off.
BO was noted in Bangkok, not Hong Kong. Reports in from the processors were that he had contacted a number of them personally that he has had past dealings with and offered direct sales opportunities, which confirms the direct sales model.
Dealers targeting China and Asia were enjoying ruby growth, with Japan exhibiting best price improvement over the lower sizes.
The Gemfields execs were requested to take dinner, which they accepted, and detailed their current situation. They confirm that the Indian finance was restricting their best clients abilities to pay for their purchases. Promotional efforts into China were paying off with branding of Gemfields Rubies replacing the wording of Mozambique Rubies into local market vocabulary. They have not set dates for their next auction but it would be after the next emerald auction potentially delayed to late May rather than the pencilled in early May. Another industry innovator was seen in their company and also attended a dinner with them so I suspect there is something major being worked on there, possibly financial solutions to their clients problems if I know his work of late.
MUS Price at posting:
2.5¢ Sentiment: Hold Disclosure: Held
