Figures released by the Antwerp World Diamond Centre (AWDC) on the trade in Antwerp in the first six months of the year demonstrate the city is back on track of the pre-pandemic upturn seen in the first few months of 2020, outperforming 2019 figures on rough trade with double digit growth.
The Antwerp World Diamond Centre (AWDC) and the Belgian Embassy, supported by the Angolan Ministry of Minerals and Petroleum (MIREMPET), organized a 2-day visit to Angola, bringing the CEO's of 20 Antwerp diamond companies. The mission signals a renewed interest from both Antwerp and Angola to work together more closely.
In a press conference earlier today, the Antwerp World Diamond Centre, together with the City of Antwerp, announced they would (re)organise a diamond polishing course.
Antwerp figures, released by the AWDC, indicate the trade in rough diamonds continues to boost recovery from the pandemic year, as rough trade even surpassed the February figures of 2020. January and February 2020 were the last months before the global outbreak of the COVID crisis, now exactly one year ago, when strong performances were recorded across the board and the industry seemed to finally rise from the dip of 2019.
The title of the 10th Global Diamond Report, a collaboration between leading consultancy agency Bain & Company and the Antwerp World Diamond Centre (AWDC) leaves little to the imagination on its content. The COVID-19 crisis is unprecedented, not just in terms of its scale and impact on the entire world, but also in its unpredictability. And that also applies to the diamond industry at large, because while the crisis didn't leave the industry unscathed, very few people would have predicted that it would rebound significantly at the finish line.
AWDC’s figures for October indicate that increased trade, particularly rough imports and exports in the diamond hub, continue to narrow the gap, caused by the impact of the COVID-19 pandemic on the global diamond industry, with 2019. Rough exports for October were up 82% in terms of carats, 76% in terms of value, compared to October 2019. Imports increased 78% in carats, 65% in US$.
As restrictions to combat a second wave of the COVID-19 pandemic tighten in countries across the globe, Antwerp continues to be operational, a communication from the Antwerp World Diamond Centre (AWDC) which was sent to the local trade community states. Last Sunday, Belgium's Federal government, following other countries across the globe, announced new measures to flatten the curve, but business operations in Antwerp's famous diamond square mile can continue, including at the Diamond Office, where all diamond imports and exports pass through.
The Antwerp diamond industry mourns the death of Jacques – Jacky – Korn, who passed away today.
AWDC's Head of Public Affairs, Karla Basselier, is leaving the Antwerp umbrella organization after 9 years in office. The jurist who was, among others, in charge of lobbying for the diamond industry on local, national and supranational political levels, is taking up the post of chief of staff in the cabinet of Belgium's Vice Prime Minister Van Quickenborne, in the recently formed new Belgian Federal government, effective immediately.
The new AWDC Board of Directors has elected Chaim Pluczenik as new President the AWDC among its members replacing outgoing President Nishit Parikh, who retired after two years in office as President and didn’t apply as a candidate in the recent elections. Board members Bart De Hantsetters, representing the (manufacturing) industry and Isi Morsel, representing the trade have been appointed as Vice Presidents.
As the COVID-19 pandemic and consequent restrictions make it impossible to bring together the industry for the 2nd African Diamond Conference, which was set to take place in Durban, South Africa in May this year, the Antwerp World Diamond Centre (AWDC) together with its partners, Belgium’s Federal Public Service Foreign Affairs and the African Diamond Producers Association (ADPA), have announced a series of webinars, on October 14, 21 and 28, aimed at sharing information on challenges and opportunities for African diamond producing countries and the diamond industry.
Antwerp’s September figures confirm a further, slow recovery of trade in the diamond city, largely due to increased activity in rough trading, as markets and manufacturing resumed and demand ahead of the holiday season grew significantly. Rough imports amounted to 7.8 million carats, for a total value of US$837 million in September, up 38% in value compared to the same month last year. Rough exports grew 20% in volume and 44% in value, to 12.3 million carats valued at US$1.1 billion compared to September 2019.
The Antwerp World Diamond Centre has announced the appointment of six new Board Members representing the trade on the Board of Directors. In the past two days, the Antwerp diamond community participated in Covid-19 safe elections at the AWDC’s building, choosing two representatives among their peers of small, medium-sized and large companies, as voters and candidates are divided in three categories, according to their average turnover.
Figures released by the Antwerp World Diamond Centre on the first six months of the year indicate that in terms of value, trade in the world’s diamond trade hub halved as a consequence of the impact of the COVID-19 pandemic on the global diamond and jewelry business.
Following the success of the Online Diamond Trade Show, held earlier this year, the Antwerp World Diamond Centre (AWDC) and Israeli Diamond Institute (IDI), have re-joined forces to host a second edition of the show from the 14th till the 17th of September. The 'virus-free trade show' will take place on VDB Expo, a platform for conferences and trade shows created by and powered by Virtual Diamond Boutique.
After trade in both rough and polished diamonds came to a near standstill on a global level due to the COVID-19 pandemic in the past three to four months, Antwerp figures for June indicate cautious signs of recovery on the Antwerp market.
The Antwerp diamond trade came to a nearly complete standstill as a result of the measures announced by the Belgian Government to flatten the curve of the COVID-19 pandemic. It is scheduled to reopen next Monday, May 4, and industry organizations the Antwerp World Diamond Centre (AWDC) and the Federation of Belgian Diamond Bourses (FBDB) are taking measures to ensure it can do so safely.
The cautious optimism that had returned to the Antwerp diamond industry following a robust month of trade in January - and into February for the rough trade - turned out to be short-lived, as the explosive spread of the novel COVID-19 coronavirus first closed the Eastern markets and gradually made its impact felt across the global diamond industry.
The Antwerp World Diamond Centre continues its AWDC Webinar Series this week Friday, April 24 from 12:30-14:00 with a presentation on the "Polished Market: a Q&A with Edahn Golan."
In this webinar, AWDC is having a chat with industry expert Edahn Golan on the current state of the market, what we have learned from previous crises concerning how to manage our business when we are in the midst of one, and advice on how to prepare to reboot your company after COVID-19 has subsided. Mr. Golan will be discussing questions such as
AWDC, IDI and VDBapp have announced they have extended the online diamond trade show, the first show to be held online with two additional days, through to Sunday April 5th.
The Belgian Government has established a range of financial relief measures to support those companies experiencing difficulties resulting from the market downturn caused by the COVID-19 coronavirus.
Over 500 diamond and jewelry professionals have registered to visit an online diamond trade show, starting this Monday March 30, co-organized by The Antwerp World Diamond Centre (AWDC) and Israeli Diamond Institute (IDI). The show, which runs to April 4, provides a virtual trading space where some 70 Belgian and Israeli diamond traders, 43 of which are based in Antwerp, exhibit their goods on the customized Virtual Diamond Boutique trade platform.
The Antwerp World Diamond Centre (AWDC) today officially announced the postponement of the African Diamond Conference due to safety and travel concerns arising from the COVID-19 outbreak. The conference was scheduled to take place in Durban, South Africa from May 5-6, and will likely be rescheduled for late October.
The Antwerp World Diamond Centre (AWDC) has released a coronavirus-related update to the Antwerp diamond community, stating that the Diamond Office will remain open. The Diamond Office is essentially the beating heart of Antwerp's diamond trade, being the place where all rough and polished diamonds are imported and exported from the country. In a typical year, that is $46 billion annually, or $210 million every working day.
The Antwerp World Diamond Centre (AWDC) and Israeli Diamond Institute (IDI) are joining forces to host the first ever Online Diamond Trade Show from March 30 to April 4. The 'virus-free trade show' will take place on the Virtual Diamond Boutique trade platform.
If you want to shine, sometimes you just have to take the plunge. It is by taking this attitude that the Antwerp World Diamond Centre (AWDC) distinguishes itself when it comes to sustainability, specifically by focusing on corporate social responsibility in Africa.
Russian diamond miner Alrosa met in Antwerp with its long-term clients and representatives of the Antwerp World Diamond Center (AWDC) to discuss the current market situation and potential scenarios, as well as the needs of rough diamond buyers - the key issue for whom was to receive assurances of purchasing flexibility.
The cautious optimism that had returned to the Antwerp diamond industry following the first month of 2020 was short-lived, as the explosive spread of the coronavirus COVID-19 in February effectively closed eastern markets and caused great uncertainty across the global diamond trade. Antwerp's rough-diamond trade still enjoyed the boost from the miners' strong January sales, but the warning signs appeared there as well - particularly toward the end of the month.
The grading & certification lab HRD Antwerp is gearing up for a major restructuring with a fresh vision on the future. Its parent company, the Antwerp World Diamond Centre (AWDC), has approved the revitalization strategy proposed by HRD’s new CEO Ellen Joncheere, who was hired a month ago to turn the company around and appears ready to take the bull by the horns. “HRD Antwerp urgently needs to adapt to a changing environment if it is going to grow," she says.
The second major tender of rough diamonds from the Democratic Republic of the Congo (DRC) at the Antwerp Diamond Tender Facility, located in the AWDC building, concluded Wednesday 12 February, closing the book on another highly successful sale. As with the first tender, held only two months ago, this one exceeded expectations: organizer Samir Gems sold some 535,000 carats of rough goods for $7.84 million.
The government of South Korea on December 27, 2019 agreed to eliminate its 5% import tax on loose polished diamonds, effectively opening up the South Korean market to new sources of polished diamonds. Yesterday, the Ministry of Economy and Finance (MOEF) confirmed that Diamond has been designated as a specific good that will be exempted from customs duties pending completion of the final legislative approvals. The abolishment of the import tax is expected to go into effect on April 1.
The anticipated increase in rough-diamond trading activity as the calendar flipped to 2020 lived up to expectations in Antwerp, as the volume of rough imports to Antwerp during the month of January surged 43% compared to the first month of 2019. The 8.1 million carats imported was the most since December 2018 and outpaced January 2019 imports by over 2.4 million carats.
This morning, February 6, some 535,000 carats of rough diamonds from the Democratic Republic of the Congo (DRC) went on tender at the Antwerp Diamond Tender Facility. The tender runs through Februay 12. The leading position of Antwerp as a rough diamond trading center convinced SACIM, a Congolese diamond miner, to hold its second Antwerp tender of DRC rough goods in the past ten weeks.
The Antwerp World Diamond Centre (AWDC), on the margins of the African Mining Indaba in Cape Town, South Africa, yesterday announced it will be organizing its second African Diamond Conference (ADC) in Durban, South Africa, on May 5 & 6. The program and registration details are available here.
2019 was a challenging year for the global diamond trade. The entire industry, from miners to manufacturers and from diamond traders to jewelry retailers saw their trade figures and profits decline during the past year. Antwerp, as the leading diamond trading hub, was caught in the middle of the industry-wide storm. “Geopolitical instability led to economic turmoil, which negatively impacted consumer confidence,” says Ari Epstein, CEO of the Antwerp World Diamond Centre.
In May 2019, the Antwerp diamond industry celebrated the 100th anniversary of the brilliant cut, the world’s most successful diamond shape, created by Antwerp mathematician Marcel Tolkowsky. This anniversary celebration also served as the launch of a unique project called `t Steentje* (‘the Stone’). The project: to polish a single diamond as a community. The Antwerp World Diamond Centre (AWDC) and the Antwerp diamond industry arranged to have 57 well-known (and not-so-well-known) residents of Antwerp polish a single diamond: one person for each facet of a brilliant.
The Antwerp World Diamond Centre (AWDC) and Bain & Company have released their ninth annual report on the global diamond industry: Strong Origins: Current Perspectives on the Diamond Industry.
Antwerp’s rough-diamond trade put a weak October performance in the rear-view mirror in November, as the volume of rough exports in particular rose sharply despite another decline in the average price per carat, according to figures from the Antwerp World Diamond Centre (AWDC). The polished-diamond sector remained more sluggish than usual in what has been a modest month for trade over the past several years.
Imports and exports of rough and polished diamonds to Antwerp slowed in October on a year-over-year basis as the market recession continued to impact the flow of goods and their prices. High inventories of polished goods continue to soften demand for rough goods to polish, pushing rough as well as polished prices down.
The Responsible Jewellery Council (RJC) has entered into a partnership with the United Nations Global Compact to develop best practice impact case studies for building awareness and educating key stakeholders across the jewelry supply chain from mine to retail on how businesses can contribute to the Sustainable Development Goals (SDGs). The Antwerp World Diamond Centre (AWDC) and the RJC recently organized a roundtable discussion with Antwerp-based RJC members.