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).
Elena Levina of Rough&Polished has dropped a bombshell in the form of an investigative report entitled, "The virtual miner - investigation", documenting the incredible scam that goes by the name of the World of Diamonds Group (WOD). Following up on an interview (by Aruna Gaitonde, Editor-in-Chief of Rough&Polished's Asian Bureau, entitled "A diamond surprise - Russia comes to know it has a brand-ne
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.
Citing data from its RapNet Diamond Index (RAPI), Rapaport News writes, "Diamond manufacturing profits were squeezed in January amid strong rough demand while polished prices softened." Despite a disappointing holiday season, demand of rough is strong as jewelers will need to restock after the holiday season. This is demonstrated by De Beers' First Cycle sales of $720 million, its largest sight since July 2014.
After a difficult 2015, the Antwerp diamond industry recorded a 5% increase in trade in 2016, according to a press release from the Antwerp World Diamond Centre (AWDC). This past year, a total of 48 billion USD worth of diamonds were imported to and exported from Antwerp. "The rough diamond market in particular is clearly making a strong recovery. This is positive sign, given that the rough diamond trade is the foundation and heart of the diamond trade.
The Gem & Jewellery Export Promotion Council (GJEPC) Chairman Praveen Shankar Pandya told the Press Trust of India he expects gem and jewellery exports to likely witness growth of about 10 percent this fiscal year due to increasing demand in the US and Europe. "We are seeing the markets improve slowly, especially US and Europe to some extent. Looking at the growth in demand in these markets, we are expecting close to 10 per cent growth in the gems and jewellery exports led by polished diamonds," said Pandya.
India's polished diamond exports were sailing along quite nicely in 2016, having put the significant downturn of 2015 squarely behind and having nearly returned to 2014 and 2013 levels, until the bottom fell out in November as exports dropped 53% from $2.52 billion in October to $1.18 billion in November. According to statistics from the Gem and Jewellery Export Promotion Council (GJEPC), polished exports bounced back in December, increasing 25% from November to reach $1.48 billion, but does not indicate a full return to health.
High price purchases of 'fancy colored' diamonds, once the almost exclusive domain of collectors and connoisseurs, have become more commonplace in recent years, writes The Wall Street Jounal, as investors seek to take advantage of soaring appreciation of these rarest of stones. "Prices are being driven higher by investors who are hoping the hot market stays hot, many of whom have been disappointed by returns from other assets, say industry insiders. Over almost eight years, from the start of 2009 to Sept.
The Israel Diamond Exchange (IDE) has announced they will open a new International Tender Centre in February during their International Diamond Week in Israel. The IDE will host three tenders of rough and polished diamond by Alrosa, I.Henning and Koin. The establishing of this Centre is an attempt to consolidate as many tenders as possible under one roof.
Diamond industry analyst Paul Zimnisky, in his most recent article "A New Diamond Industry", analyzes three significant changes - and the catalysts for those changes - that have been reshaping the diamond industry in recent years: 1) a new operating discipline, 2) a new generation of consumers, and 3) new technology.
Citing figures from Israel's Ministry of Economy and Industry, Rapaport News writes that Israel’s polished diamond exports declined in 2016: exports of polished dropped 6.4 percent to $4.68 billion during the year; Exports to the U.S., Israel's largest trade partner, slid 9 percent to $2 billion, while shipments to Hong Kong fell 8 percent to $1.35 billion. Orders from Belgium slumped 16 percent to $349 million. Polished imports fell 6 percent to $3.28 billion. Meanwhile, rough imports increased 17 percent to $3.25 billion, while rough exports rose 23 percent to $2.7 billion.
India's Gem and Jewellery Export Promotion Council (GJEPC) has become a full member of the World Federation of Diamond Bourses (WFDB), marking the first time a non-bourse organizaion has been admitted as a full member of the global diamond organisation, finalizing last week's announcement.
According to a Rapaport press release: Polished diamond prices softened in December as Indian liquidity dried up due to the government’s demonetization policy eliminating 500 and 1,000 rupee notes. Trading slowed with dealers taking vacation during the holiday period," The RapNet Diamond Index (RAPI™) for 1-carat, RapSpec A3+ diamonds fell 1.3% in December. RAPI for 0.30-carat diamonds edged up 0.2%, while RAPI for 0.50-carat stones fell 2.2%. RAPI for 3-carat diamonds slid 1%. RAPI for 1-carat diamonds declined 3% in the fourth quarter and 5% for the full year.
According to a press release from the Israeli Diamond Industry: Alrosa will hold a tender of both polished and rough diamonds during Israel’s sixth International Diamond Week (IDWI), February 13 – 16, 2017 at the Israel Diamond Exchange (IDE.) The auction will offer 108 boxes of rough diamonds of 11 to 199 carats, and several unique white and fancy color polished diamonds, weighing from 10 to 80 ct, including five that were cut from one huge rough stone.
According to provisional data provided by the Gem & Jewellery Export Promotion Council (GJEPC), India’s November polished diamond exports fell 53% in value from total exports in October, from $2.52b to $1.18b, and declined 10% year-over-year for November. In terms of volume, polished exports fell 51.5% from 3.3 million carats to 1.6 million carats compared to October.
Harrods, the luxury department store in Knightsbridge, unveiled a hidden treasure, a 228.31-carat diamond. The pear-shape diamond has been graded a G color, VS1-clarity stone by the Gemological Institute of America (GIA).
Chief merchant at Harrods, Helen David, said: “We are thrilled to unveil one of the world’s rarest diamonds, the so-called 'Harrods Diamond', named after the iconic Knightsbridge store."
From 11 through 14 December, the Antwerp World Diamond Centre and HRD Antwerp are participating in the City of Antwerp's economic mission to Seoul, South Korea, after which it heads to Shanghai. Highlights of the trip to Seoul include HRD Antwerp's announcement it will be offering bilingual diamond grading reports as of February 1, 2017, with the first reports available in English/Korean and English/Chinese. HRD Antwerp will gradually offer bilingual grading reports in other foreign languages over the course of the next year.
The International Institute of Diamond Grading & Research (IIDGR), part of The De Beers Group of Companies, has unveiled a US$5 million expansion of its diamond grading and testing centre in Surat, India. The move follows the Group’s initial investment of US$10 million in 2015 to establish the facility, which has the capacity to process over US$500 million of diamonds every year.
Antwerp's rough diamond trade surged again in the month of November, as the dollar value of rough imports to and exports from the diamond capital rose 60% and 63% respectively compared to the same period in a year ago, according to figures from Antwerp World Diamond Centre (AWDC). These figures essentially seal the positive verdict on Antwerp’s 2016 rough trade, as rough exports for the year (January through November) have risen nearly 10% in carat volume and 11.50% in value; rough imports fared just as well, recording a 10.40% increase in volume and a 10% increase in value.
The diamond market has been going through difficult times for a while now, but diamond trade data paint a far more optimistic picture than in June, signalling that trade has turned the corner, writes Georgette Boele of ABN Amro in their "Insights" report. Back in June when ABN last published their diamond insights report, Boele still doubted if global diamond trade would improve, but trade data have clearly improved in all centres, most noticeably in Antwerp, Israel and India.
Small and medium diamond traders in Surat, the world's largest diamond cutting and polishing center, are facing difficult days due to the cash crisis and the government's demonetization decision.
Rare Diamond House – Antwerp (RDH) holds the world’s largest selection of investment grade D Flawless diamonds of 10 carats and up. Since 2008, RDH has been involved in buying, selling or valuing the majority of diamonds of this caliber that have appeared at auction.
Botswana's diamond cutting industry faces another blow as more jobs are lost due to the fact India based Shrenuj, one of the largest diamond cutting and the single jewelry manufacturing facility in the country, is closing shop. Parent company Shrenuj & C° has been troubled by financial woes over the past months, with reports claiming some 20 Indian banks are said to have exposure to the groups entities amounting to US$450 million which Shrenuj is failing to pay back.
For the past three days a delegation of 21 leading jewelers from China, who collectively represent more than 8,000 points-of-sale, have been getting acquainted with the Antwerp diamond industry. The visit took place in the framework of a new initiative by the Antwerp World Diamond Centre, the “Antwerp Diamond Experience”, intended to provide groups of foreign jewelers, wholesalers and manufacturers inside access to the world’s diamond capital. Seeing as how China is currently the second largest jewelry market following the United States, this served as an incredible opportunity.
Two investment bubbles, 340 years apart, provide living proof of Edmund Burke’s famous observation that those who do not know history are doomed to repeat it. Rough diamond broker and founder and president of N.Rothmann, Nurit Rothmann recounts the history of two remarkably similar speculative bubbles: the spectactular rise and sudden collapse of the tulip market in 1637 and the rough diamond market in the late 1970's and early '80s. Reprinted here by special arrangement.
India's diamond industry continued in October its strong recovery set forth the first half (April - September) of 2016, as preparations for the Diwali holiday season had a positive effect on the month prior to the holiday recess, and the upheaval of the government's demonitization policy had yet to be unleashed.
ALROSA, the world leader in diamond mining, has announced rough and polished diamond sales results for October 2016. Rough diamond sales in October 2016 amounted to USD 430.8 million. Polished diamond sales for the same period amounted to USD 8.2 million. Total diamond sales in October 2016 amounted to USD 439 million. “Demand remained strong in October even on the threshold of the holiday season during the celebration of Diwali in India-–the largest cutting and polishing center,” says Yury Okoemov, ALROSA Vice President.
Diamond manufacturing technology company Sarine Technologies announced in a press release the unveiling of it, "new groundbreaking technology for clarity and color grading", which it claims, "will revolutionize the way the diamond industry and consumers perceive clarity grading, and transform the polished sourcing and sorting process ... Technological standardization translates into greater credibility for the industry and increased trust for the diamond consumer." They say while carat size has traditionally been the only objectively measurable factor of the 4C’s in diamond grading, Sarine
According to figures released by the Antwerp World Diamond Centre, the volume of rough as well as polished imports to the diamond capital rose during the month of October compared to the same period in a year ago, while exports of both categories slowed. Rough imports increased nearly 11% in volume to 8.4 million carats, representing the highest volume of October rough imports since 2012, though the value of those imports fell 7% to $900 million.
According to Rapaport News as gathered from U.S. Census Bureau data, U.S. polished diamond imports surged 33% to $2.18 billion in September. In terms of volume, imports rose 7% when compared to September 2015, with 988,097 carats being traded.
According to a company press release, Rio Tinto’s 2016 Pink Diamonds Tender collection of 63 rare pink, red and violet diamonds from its Argyle mine has delivered a record result, reflecting strong global demand for these increasingly rare diamonds. Known as The Chroma Collection, the 2016 Argyle Pink Diamonds Tender comprised the highest quality, size and colour composition in the Tender’s 32 year history and was highly sought after, with winners from 10 countries including a strong representation from the sophisticated US collector market.
Two weeks ago, IDEX Online published an opinion piece by Thierry Silber, CEO and founder of Diamaz International and Madestones, entitled "How to Kill Four Birds With One Stone". Here Silber makes the following proposal on the way to tackle the heated issue of undisclosed mixing of natural and synthetic diamonds: "Why not remove the mixing issue by selling both types of smaller diamonds at the same price up to a certain size?" The main problem as he sees it is the cost of detection involved in screening for synthetic diamonds, particularly for smaller manufacturers.
The De Beers Group of Companies has announced that its Auction Sales business will offer midstream diamond companies the opportunity to sell certain types of polished diamonds to other trade participants on its auction platform, the company writes in a press release. The new limited scope, business-to-business pilot is an extension of the service for rough diamonds that was launched earlier this year. It follows existing customer demand for an equivalent service for their polished diamonds.
According to polishedprices, the polished diamond price index slumped to its lowest level since March 2010, while Rapaport writes that its polished price index dropped 4.3% in the first ten months of the year. Both index leaders view the Chinese, Jewish and Indian holidays as exerting downward pressure on the markets in October, with this week's traditional slowing coming ahead of the Diwali holidays. Rapaport also says that, "Trading slowed as larger U.S.
Diamond industry analyst Edahn Golan takes a close look at US consumers' polished diamond purchasing trends based on data that retail metrics research firm NPD collected from nearly 4,000 specialty jewelry retailers. Golan says that, "One of the biggest issues in the diamond industry, especially in the manufacturing sector, is a lack of impartial and detailed data about consumer purchasing habits.
Graff Diamonds unveiled “The Graff Venus”, calling it, "The largest D flawless heart-shaped diamond in the world." They say it took 18 months for Graff's master craftsmen to analyse, cut and polish the magnificent type IIa 118.78-carat diamond from a 357-carat rough diamond discovered in 2015 at the Letšeng Mine in Lesotho - operated by Gem Diamonds. Laurence Graff, chairman of Graff Diamonds said, "We were given a once in a lifetime opportunity and we created absoulute perfection."