India's exports of cut and polished diamonds fell by 6.5 percent year-over-year in August, reports the Gem and Jewellery Export Promotion Council (GJEPC). The Indian trade exported $1.82 billion in August 2017, a decline of 6.5% as compared to the $1.94B in the same month a year earlier, according to provisional data. The $1.82 billion was however higher than the $1.67 billion exported in the month of July. For the financial year to date (April-August), India's polished exports are up by a half percentage point, currently sitting at $9.25 billion, compared to $9.20 billion a year earlier.
Alrosa today announced the results of its rough specials and polished diamond auctions, held at the Eastern Economic Forum. The rough specials of 10.8+ carats, 1,293cts total achieved a total sales price of USD14.8 million, while 33 of the 36 polished stones, 2 to 12 carats were sold for a total sales value of USD 1.7 million. According to Alrosa VP Okoyomov the auctions were attended by some 50 companies from the US, India, Israel, Belgium and the UAE.
The value of polished diamond exports from Antwerp jumped by 7% y-o-y as their volume surged by 30% in the month of August. The sharpest value increase was in exports to Switzerland (+84%), while those to the US remained flat and those to Hong Kong fell by 10%. Polished imports fell by 14% in volume but only 3% in value. Meanwhile, the volume of rough diamond exports from Antwerp remained comparatively high in the holiday month of August as the industry took a three-week break.
DIAMONDS ALROSA will auction its own polished diamonds during the Hong Kong Jewellery & Gem Fair in September, the company announced in a press release. The first auction will take place on September 13-17, introducing large colorless diamonds, as well as certified fancy colored diamonds, including yellow, green, orange and purple colors. The second auction will be held on September 19-22. Diamonds of small and medium sizes as well as brown diamonds will be introduced there. “We’ve chosen this assortment in accordance with demand on the Asian market.
After bouncing back strongly in the first quarter of 2017, Israel's polished diamond exports slowed significantly in the second quarter, according to data from the Economy and Industry Ministry. Rapaport News writes that Israel's exports of polished diamonds for the half-year ended June declined 3% to $2.55 billion excluding returned goods, while volume fell 6% to 919,422 carats.
India's polished diamond exports showed little movement during the month of July, a traditionally slow period in the diamond and jewelry industry. According to figures published by the Gem and Jewellery Export Promotion Council (GJEPC), July exports remained flat at $1.65 billion despite a notable 25% increase in the volume of carats exported, jumping to 3.14 million from 2.5 million carats, continuing the ongoing trend toward high volumes of small, lower-quality goods. The price per carat fell accordingly to $524 from $660.
Laurelton Diamonds, a wholly owned subsidiary of Tiffany & Co., will be holding the viewings of its next Tender of Polished Diamonds at the Laurelton Diamonds offices in Antwerp, Belgium. The Tender will include a selection of single GIA certified stones and grouped lots of GIA certified and non-certified polished diamonds. These include rounds ranging in size from caraters to melee. The tender is scheduled from Tuesday 22nd August to Tuesday 29th August in Antwerp. Viewing appointments can be booked.
Analysis of pricing data by the Fancy Color Research Foundation (FCRF) for the second quarter of 2017 indicates overall pricing stability across all categories over the same quarter in the previous year, FCRF states in a press release. While flat overall for all shapes and sizes, blue fancy color diamond prices continued to appreciate, climbing 5.5% over last year, while yellow fancy color diamond prices declined by 2.5% for the year. According to RAPI™ during the same period, most white diamond categories experienced meaningful price declines.
The trend of high volumes of rough diamond exports from Antwerp continued in July, while the diamond capital’s polished trade showed signs of life among persistently soft results. According to figures published by the AWDC, on a year-over-year basis, the volume of rough diamond exports increased significantly (20%) for the third month in a row (+55% May, +53% June), totaling nearly 11 million carats, while their value actually declined by 4% to $1.1 billion. The volume of rough imports also increased 15% while their value tumbled by 14%.
De Beers Group announced in a press release today that its Auction Sales business will run further polished diamond auctios in August, following the success of the initial events in late June. The events marked a new departure for De Beers, auctioned polished stones from their own rough diamonds, as well as auctioning off third-party diamonds. They say that customer response to the initial auction events in June was positive, with the auction featuring diamonds polished directly from De Beers-mined rough diamonds representing the majority of lots successfully sold.
ALROSA has unveiled The Dynasty, the lead stone in a unique collection of five diamonds created from a 179-carat rough diamond (The Romanovs) and manufactured at its cutting and polishing facilities. The centerpiece of the collection, a 51.38-carat traditional round brilliant-cut diamond, is the purest of all large diamonds manufactured throughout the Russian jewelry history, according to the company. The Romanovs was recovered from Nyurbinskaya kimberlite pipe in the Republic of Sakha (Yakutia) in 2015.
India's recently-adopted goods & services tax (GST) of 3% on polished diamonds, 5% service tax and 0.25% on imported rough diamonds is making life challenging for the country's 50,000 small and medium diamond manufacturing units in Gujarat, employing up to 200,000 workers. The Economic Times, citing Praveen Shankar Pandya, chairman of the Gem & Jewellery Export Promotion Council (GJEPC), reports that due to increased compliance requirements and uncertainty over when they will get input credit refund, the viability of many of these small units is uncertain.
Independent analyst and consultant on diamonds and the mining industry, and publisher of the Zimnisky Global Rough Diamond Price Index, Paul Zimnisky has published an in-depth article on the current state of the diamond industry as it heads into the second half of 2017. Reprinted from Paul Zimnisky Diamond Analytics, courtesy of Paul Zimnisky.
Russia's ALROSA has appointed Pavel Vinikhin as director of DIAMONDS ALROSA – ALROSA’s cutting and polishing division, one of the largest diamond manufacturers in Russia, the company announced in a press release. In April 2016, he was appointed as deputy director for marketing of DIAMONDS ALROSA, and headed ALROSA Diamonds Ltd, a cutting and polishing factory in Barnaul. He has been managing DIAMONDS ALROSA since October 2016, when he was serving as acting director.
India's exports of polished diamonds rose 3% in value during the first quarter of 2017 (April-June) to $5.8 billion from $5.6 billion in 2016, according to provisional data released by India's Gem & Jewellery Export Promotion Council (GJEPC). In June, the Indian trade recorded a rise of 7.5% to $1.98 bn as compared to $1.84 bn in the same month in 2016. In keeping with the trend of lower-value goods being traded, the percentage increase in the volume of carats exceeded the increase in value, as the volume of polished diamond exports in Q1 rose by 7%, and in June by 17%.
While their methodologies and results vary to some extent, even a cursory glance at the major diamond price indexes (RapNet, IDEX, Mercury, PolishedPrices) reveal an undeniable trend of continuing and sustained polished price declines.
The market for recycled diamonds has grown substantially in the last decade following the financial crash of 2008, and though it is hard to guage the market as a whole due the less-than-transparent avenues through which they are bought and sold, estimates are that the trade in recycled diamonds is now worth between five and ten percent of the global market - or approximately $1 billion - and is expanding. Abraham Dayan, writing for Rough-Polished, looks at some of the players in this growing market, the advantages it provides for manufacturers in need of affordable supply and retai
The Argyle diamond coin trilogy sold within a month, according to a press release from Rio Tinto. "The Australian Trilogy", is an US$1.4 million (AUD$1.8 million) one-of-a-kind coin collection featuring a pink, purple pink and violet diamond from Rio Tinto’s Argyle Diamond Mine in the east Kimberley region of Western Australia. Released by The Perth Mint, The Australian Trilogy was sold to an anonymous collector from Asia within a month of its unveiling.
"Polished diamond prices softened in June after the JCK Las Vegas show demonstrated a cautious and changing US market," announces Rapaport News in a press release on polished prices in June. Their message confirms the trends noted in recent months: retailers reducing standard inventory, which is contributing to a build-up of older stock midstream, while consumers seeking lower price point jewelry.
Antwerp's diamond trade in June mirrors the trends we have seen from the diamond capital over the first half of the year 2017, with significant volume increases of lower-priced rough exports and a persistently soft polished trade. On a year-over-year basis, the volume of rough diamond exports increased for the second month in a row by more than 50% (53%) while their value rose only 24%. The volume of rough imports also surged 31% while their value lagged behind at 5%.
In ABN AMRO's lastest iteration of the biannual Diamond Market Outlook, Coordinator FX & Precious Metals Strategy Georgette Boele writes, "The recovery in the diamond trade has grinded to a halt at the start of 2017", as US consumer spending has been disappointing in Q1, lower consumption in Hong Kong and Macau has negatively affected demand (according to company reports from main jewelers in the region) and Chinese retail sales were weaker in January and February.
In his latest blog post, "A Market in Chaos", diamond industry researcher and analyst Edahn Golan examines the disconnect between the rising trend of lower price point/smaller-diamond jewelry and the willingness of manufacturers to pay more for the rough to produce it. He starts with trends in the consumer jewelry market - because this is the ultimate determining factor for the diamond market - that are demonstrating a distinct shift towards lower value goods. Drawing on his impressions from the JCK Las Vegas show, Golan writes, "The trend of smaller diamonds stood out.
India's exports of cut and polished diamonds in May increased 3.67% year-over-year to US$2.05 billion from US$1.98 bn in the same month a year earlier, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC). For the fiscal year to date (April-May 2017), polished exports are up a single percentage point at US$3.8 billion. Rough imports during the month were up 22.5% in value terms at US$1.86 billion compared to US$1.52 billion imported during the previous May. Rough imports have increased 5% for the first two months of the year.
Singapore Diamond Investment Exchange (SDiX), the world's first commodity exchange in physically settled diamonds, has announced a partnership with Kynetix, a physical commodity digitisation expert, and Everledger, supplier of blockchain and distributed ledger infrastructure, to complete the first part of a Proof-Of-Concept of a blockchain-based authentication and secure record-keeping service for trading diamonds on a global commodity exchange. The technology is designed to enable holders of diamonds wi
De Beers today announced that on June 29 it will continue to broaden its portfolio of services by holding its first auction featuring third party exceptional diamonds via the De Beers Auction Sales platform; this is the same day as the first auctions of De Beers Group’s own polished diamonds, manufactured directly from its own rough. The separate auctions will be held back-to-back, allowing buyers to source all polished on one day. De Beers Auction Sales will grant access to its expertise, technology and distribution network to undertake sourcing and sales of polished stones.
Arriving at Antwerp’s splendid 19th century Central Station, with its marble staircases, iron and glass vaulted ceiling and gilded details, shoppers visiting Antwerp are filled with high expectations about the jewelry boutiques awaiting them in the world’s diamond capital. For years these expectations were quickly dashed, as consumers were confronted with myriad uninviting and less-than-reputable jewelry shops once they left the station. Where to turn?
Rio Tinto and The Perth Mint have showcased a A$1.8 million (US$1.36 million) one-of-a-kind coin collection featuring three coloured diamonds from the Argyle Diamond Mine. Known as The Australian Trilogy, the beautiful collectable comprises three precious metal coins each hand crafted with a pink, purple pink and violet diamond unearthed from Rio Tinto’s Argyle Diamond Mine in the east Kimberley region of Western Australia.
Antwerp's diamond trade bounced back in May after a modest month of April, with significant increases across the board compared to the month prior. On a year-over-year basis, the volume of rough diamond exports increased by more than 55% although their value fell by 3%, while rough imports increased more than 13% in volume while declining 18% in value. Value increases were recorded for imports as well as exports of polished goods, while the volume of imports increased nearly 5% and the volume of exports were down 12%.
According to industry insight data published today by De Beers Group, "U.S. Diamond Jewelry Demand Hits US$41 Billion High", total diamond jewelry demand from US consumers increased 4.4 per cent in 2016 to exceed US$40 billion for the first time. While slower US GDP growth in the first quarter of 2017 is likely to have impacted diamond jewelry demand in the short term, the US has recorded five years of consecutive demand growth. US consumers now account for roughly half of all diamond jewellery purchases globally – a level not seen since before the financial crisis.
The lastest disruptive online diamond sales platform, a "reverse auction site" startup called Legemdary, purports to serve the interests of diamond buyers and wholesalers by cutting out retailers altogether, writes Rachelle Bergstein for Forbes, introducing the company to a global audience. Legemdary calls itself the only straight to wholesale online diamond marketplace, connecting prospective engagement ring buyers directly with wholesalers who bid to supply the consumers' needs.
Christie's Hong Kong yesterday auctioned off the famous 'Jonker No. 5' diamond for $5.3 million, soundly beating the pre-sale estimate of $2.2 million to $3.6 million. The 'Jonker No. 5' is part of a legendary collection of 13 stones fashioned from one of the most famous diamonds in history: the 726-carat piece of rough discovered by Jacob Jonker in South Africa in 1934, which at the time was said to be the fourth largest gem-quality diamond ever recovered. The Type IIa stone is D color, VVS2 clarity, rectangular-cut and weighs 25.27 cts.
Forevermark diamond, part of the De Beers Group, announced it had inscribed its two millionth diamond, a 3.48 carat round brilliant which now bears the unique inscription of ‘2,000,000’. The diamond was mined, cut and polished in Namibia, then inscribed in the Forevermark Diamond Institute in Surat and will be set in a piece of jewelry at the Forevermark Design innovation Centre in Milan, Italy.
Diamond miner De Beers Thursday announced it will start a pilot project in June, selling polished diamonds, manufactured directly from the company’s rough by third parties to registered De Beers Auction buyers. The polished goods will be accompanied by grading reports from both De Beers’ own International Institute of Diamond Grading & Research (IIDGR) and the Gemological Institute of America (GIA).
Canadian - or rather, Québécois - diamonds from mine to finger were cause for celebration in Montreal yesterday, as Maison Birks unveiled the first 200 diamonds from Quebec's Renard diamond mine, owned by Stornoway Diamond Corporation. In the presence of Birks Group President and CEO, Mr.
The first edition of CARAT+, the new diamond and diamond-jewelry exclusive trade show in Antwerp, concluded its final day of trading on a positive note, the organizers announce. Official data indicates that over the three-day period, CARAT+ recorded 2,927 visitors from 29 different countries; they were welcomed by 116 exhibitors from 14 countries. The organizers have already set a date for the second edition: 6 + 7 + 8 May 2018.
Antwerp's diamond trade experienced modest and mixed results in April: the volume of rough diamond exports stayed flat for the month while rough imports were down mainly as a result of De Beers not holding a sight in April. Volume declines were also recorded for imports as well as exports of polished goods, in part due to the spring holiday season around the world, though the average value of imports outweighed the fall in volume and ended up slightly on a year-over-year basis.
Rapaport has issued a press release on the current rough and polished diamond markets, which boils down to the following: "Amid sluggish polished markets, rough trading remained strong." The second quarter of the year is typically a slow period for diamond trading, and April this year proved no different.
India's Gem & Jewellery Export Promotion Council (GJEPC) has reported overall growth in the industry for the financial year 2016-17 (April 2016 - March 2017), despite what Executive Director Sabyasachi Ray described as a year of “disruption”, referring to various unexpected developments like Brexit, the election of Donald Trump; and, on the homefront, the demonetisation and looming introduction of the Goods and Services Tax (GST).
The Fancy Color Research Foundation (FCRF) has released its latest Fancy Color Diamond Index update for the first quarter of 2017, which indicates pricing stability across most fancy color diamond categories. Yellow fancy color diamonds are down 2.5% compared to Q1 2016, but have lost only 0.2 percentage points since the previous quarter. Pinks are up 0.8% compared to the same period a year ago, while blue fancy color diamonds jumped 5.7% year-over-year and saw a 1.9% price increase in the first 3 months of 2017 as compared to Q4 2016.
Prime Minister of India Narendra Modi on Monday was on hand at the ‘Hira Bourse SEZ’ in Surat for the inauguration of HK HUB, Hari Krishna Exports' new diamond manufacturing facility. HK Hub features three buildings that will focus on cutting larger diamonds,Addressing the inaugural function with an estimated at 20,000, Prime Minister Modi urged the diamond industry in Surat to take a lead in making the country as number one in the gems and jewelry sector, saying, “We have become number one in diamond cutting, but now is the time we should become number one
Antwerp's diamond trade trended strong across the board in March, as the rough diamond trade experienced an increase in volume as well as value, while the polished trade saw better results than in previous months. The volume of rough exports from Antwerp increased 7% year-over-year to 10.75 million carats, while rough imports jumped nearly 16% compared to the same month a year earlier, reaching 9.4 million carats.
Signet Jewelers, as part of its effort to support and reinforce its Responsible Sourcing Protocol for Diamonds (D-SRSP), has been working on a project with product-testing firm United Laboratories and the Diamond Producers Association to create a facility for testing synthetic diamond screening equipment, writes Rapaport News.** The intention is to create an industry standard for such equipment so that, "su
"Martin Rapaport, chairman of the Rapaport Group, called on India to show reciprocity in its trade relationship with the United States," writes eponymous Rapaport News of their founder's “State of Diamond Industry” presentation at GJEPC's "Mines to Market" conference yesterday, marking 50 years of India’s Gem & Jewellery Export Promotion Council.
India's polished diamond trade appears to making a solid recovery as it gains distance on November's demonitization shock. The country exported $2.41 billion of cut and polished diamonds in February 2017, a rise of 3.27% as compared to the $2.34 bn in the same month a year earlier, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC). More telling, however, is that February exports increased 49% over January 2017 ($1.6b) and were 63% higher than December 2016 (1.48b).
The fourth Hong Kong International Diamond, Gem & Pearl Show (28 February-4 March) and the 34th Hong Kong International Jewellery Show (2-6 March) featured about 4,480 exhibitors, and attracted over 85,000 buyers from 144 countries and regions, up six percent over last year, according to organizer Hong Kong Trade Development Council (HKTDC). More than 33,000 buyers visited the Diamond, Gem & Pearl Show, while some 52,000 visitors attended the Jewellery Show. “Despite economic challenges, especially in the luxury goods market, the two shows attracted a record number of buyers.
Diamond industry analyst and author of the Zimnisky Global Rough Diamond Price Index, Paul Zimnisky, takes us on, "A Trip Through the Diamond Industry in March 2017." If there is one trip you make this weekend, we recommend this one.
Antwerp's rough diamond trade continued its steady climb in the month of February, as the volume of rough exports from Antwerp increased 17% from January, while imports increased over 23% compared to the month before, according to figures from Antwerp World Diamond Centre. The value of those exports reflected the lower-priced nature of the goods, as the dollar value of rough exports only increased 6%, while the value of rough imports actually fell 5% despite the increases in volume.
Polished diamond prices are still soft at the start of 2017, with Rapaport's RapNet Diamond Index showing prices for the benchmark 1-carat polished diamonds down 1.2%, a trend confirmed by PolishedPrices, while IDEX noted a slight rise in February despite, "the downward path seen from mid-2016." Rapaport writes, "Diamond trading this February was slower than in previous years, with buyers pushing for deeper discounts and suppliers expecting firmer pric
According to a press release, ALROSA, the world’s largest diamond producer by volume, reported the results of the international diamond auction, which took place in the Sixth International Diamond Week in Israel (IDWI), offering for sale special-size natural rough diamonds (10.8-ct+) , as well as polished goods. The company sold 105 lots of rough and polished diamonds worth $21.8 million during the trading session held on 13-16 February, 2017 in the City of Ramat Gan, Israel. The auction was attended by 119 buyers from 30 countries.
Joseph Lipton, inventor and CEO of VULT - a digital diamond exchange platform seeking to turn diamonds into a true tangible asset class - presented his cutting-edge ideas about the future of global wealth at a very special TEDxFultonStreet Salon about “Things You Can’t Have” with other thought leaders in NYC.
The Antwerp diamond industry is readying to send a large delegation to the Hong Kong International Diamond, Gem & Pearl Show next week, February 28 - March 4. The Antwerp Diamond Pavilion, organized by the Antwerp World Diamond Centre (AWDC), will host over 80 companies and occupy nearly 1,200 square meters of the Diamond Hall at the AsiaWorld-Expo. As an additional feature this year, exhibitors at the Antwerp Diamond Pavilion will have the opportunity to screen their diamond parcels using HRD Antwerp's
As we noted two weeks ago, word from De Beers and ALROSA was that the sharp decline in low-quality, low-value stones destined for India has abated as the country's cash situation stabilizes post-demonitization, and India's official January trade figures bear this out. The Gem & Jewellery Export Promotion Council (GJEPC) reports that the volume of rough diamond imports during the month increased 41% over December 2016 and a full 79% since November 2016 when demonitization was introduced.
Russian mining giant ALROSA is stepping up its marketing game beyond its contributions to the Diamond Producers Association (DPA), we were told this past Wednesday at ALROSA Night - a joint initiative between the Antwerp World Diamond Centre (AWDC) and ALROSA at the Belgian Ambassador's Residence in Moscow.
Antwerp's rough diamond trade surged again in the month of January, as the dollar value of rough exports from the diamond capital rose 30% while imports kept pace with a 31% increase compared to the same period in a year ago, according to figures from Antwerp World Diamond Centre. Volumes were up as well, with Antwerp exporting nearly 18% more carats than in January 2016, while rough imports increased by 36%.
"Last year, 1,669 jewelry businesses (including manufacturers and wholesalers) ceased operations in the United States, a 50 percent jump from 2015, according to the Jewelers Board of Trade", writes JCK's Rob Bates. In total, the number of jewelry businesses fell by 6%. He notes that a surprisingly large number of businesses closed their doors in the fourth quarter, traditionally a time when the trade is in full swing. Bates provides the gory details: 1,269 U.S.
Canadian jeweler and diamond industry analyst Mel Moss explores a core dilemma concerning the value proposition of diamonds. It is a dlemma the diamond industry has yet to resolve, leading to confusion and false expectations among consumers: how can a diamond be presented both as a luxury product and a price-based commodity? "Some in the diamond industry are pushing hard to promote generic diamonds as a commodity that can be traded transparently in futures markets, commodity exchanges and as a wealth preservation asset", writes Moss.