Archive

  • Rio Tinto’s Argyle Pink Diamond tenders, the 35th since the mine started producing the rare pink, red and violet diamonds, received a lot of interest, the company says. As the Argyle mine is due to close next year, the 2019 tender is most likely one of the last tenders, explaining the double-digit growth in bids made on the lots of polished pinks, reds and purples. The most valuable diamond in the selection, the Argyle Enigma, was bought by Australia-based Star & Kiven Diamonds (Aurostar group), who also won the winning bid for the Argyle Verity.

  • Former CEO and now chairman emeritus of Rosy Blue Alliance, Dilip Mehta, has announced a new venture into synthetic diamonds, partnering with his sons to launch a business in Surat. Mehta is just the latest of many diamond veterans to test the synthetic-diamond waters. Speaking to the Times of India, Mehta made clear that the venture was fully independent of Rosy Blue. "This one is our own venture and nothing to do with Rosy Blue," he is quoted as saying.

  • India's exports of cut and polished diamonds in October declined by 15.4% year-on-year to $1.95 billion as compared to $2.30 billion in October 2018, according to the provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC) of India. The $1.95 billion is the same amount exported in September, which represented an 18% decline from the year prior. The volume of polished diamonds exported declined 8% to 2.8 million carats, as the average price per carat for the month fell 22% to $689 per carat. For the fiscal year to date (April - Oct.

  • While Russian diamond mining giant Alrosa's October rough diamond sales remained steady at $253.9 million and even outpaced by $20 million their sales in the same month last year, Q3 (July-Sept.) saw a significant downturn as the market remained difficult and sales volumes declined. Meanwhile, the miner got a bit of sparkle from their polished diamond sales during the month, earning $10.4 million, good for their best polished results of the year by over $2 million. The miner says supply and demand have shown signs of regaining their balance.

  • The 4th International Jewelry & Diamond Conference 2019 – Guangzhou, jointly held by the Guangzhou Diamond Exchange and the Guangdong Gems & Jade Exchange (GDGJE) will take place on November 21-22. The conference will be held in Panyu, Guangzhou, the major cluster of the diamond and jewelry industry of China, and will welcome industry representatives, associations from around the world and delegates from local governments.

  • In the third quarter of 2019, Israel's imports and exports of all diamonds plummeted 28% compared to the same time last year, writes the Times of Israel following Ynet (Hebrew-language publication). Since the start of 2019, Israel’s diamond industry has seen a 22 percent drop in exports of polished diamonds, which Israeli spokespeople say is likely due to the global economic slowdown and international trade concerns.

  • Lucapa Diamond Co. has exported a 46 carat Lulo pink diamond to Antwerp and it is currently undergoing studies for polishing (initial possible polished solutions pictured above). A decision on the optimal polished solutions will be taken by the Sociedade Mineira do Lulo (SML) and the Lulo partners once the studies are concluded. While Antwerp is not the manufacturing center it once was, many of the world's most valuable and complex rough diamonds still find their way to Antwerp for analysis and polishing.

  • Russian diamond miner Alrosa saw its September sales of rough diamonds make a modest recovery after a slow summer, selling $256.5 million, which represents a 42% increase over the $180.2 million sold in August. The company acknowledged, however, that market demand for rough diamonds is still low, as this past month's sale was 27% lower than in September 2018, when they moved $331.6 million of rough goods. Adding $2.2 million in polished-diamond sales (-69% y-o-y), total sales for September were $258.7 million. 

  • India's cut and polished diamond exports declined by 25% year-on-year, totalling US$1.64 billion during the month (August 2018: US$2.18 bn) as the average export price tumbled by 19% to $658 per carat, the lowest level in two years. The August results do indicate a modest 9% upturn from July, when India's polished-diamond exports fell to their lowest point in 2019, at $1.50 billion. All figures are from India's Gem & Jewellery Export Promotion Council (GJEPC).

  • The Dubai Multi Commodities Centre (DMCC) today (Sept. 25) unveiled the redesigned and upgraded Dubai Diamond Exchange (DDE) auction facility, which it is calling the world’s largest diamond trading floor. Located at the Almas Tower in Dubai, UAE, the refurbished trading floor has 41 viewing stations with specially designed lighting and high-resolution cameras. Designed principally for rough and polished diamonds, the DMCC says that changes have been made to the DDE windows to enable trade of colored gemstones.

  • From October 22-24, 2019, the Antwerp World Diamond Centre (AWDC) will be hosting the 15th edition of the "Antwerp Diamond Experience", where it will welcome select jewelers, wholesalers and manufacturers from across Europe and give them inside access to the world's leading diamond trade center … free of charge, and with no purchase obligation. (Registration link below).

  • Russian diamond miner Alrosa has created a brand - Luminous Diamonds - to a promote a characteristic that is prevalent in their diamonds: fluorescence. In doing so, it is seeking to create a niche for its natural stones by marketing the added value fluorescence can bring to diamonds when seen in the proper light, so to speak.

  • Russian diamond miner Alrosa sold $180.2 million in rough diamonds during the month of August, representing one if its lowest sales months in years as continuing headwinds - macroeconomic as well as industry-specific - conspired with a traditionally slow summer month to keep the market soft.

  • India's cut and polished diamond exports declined by more than 18% year-on-year in July, representing the lowest level of polished exports since December 2018. India's exports reached only $1.50 billion last month as compared $1.84 billion during the same month a year ago, as manufacturing has slowed significantly and traders try to move goods from stock while facing the headwind of an existing glut on the market. 

  • A 14.83-carat pink oval diamond, cut from a rare 27.85 carat clear pink rough diamond mined in 2017 by Russia’s Alrosa could earn more than $60 million when it goes up for sale in November. Named The Spirit of the Rose (“Le Spectre de la Rose”) as a tribute to a legendary short Russian ballet that premiered in 1911, the preparation and cutting process was performed at the “Diamonds ALROSA” cutting factory in Moscow, and it will be the most expensive stone ever polished in Russia.

  • The Dubai Diamond Exchange (DDE), a subsidiary of the DMCC, completed three rough and polished diamond tenders in the week of July 16 - 23 while the DDE is under renovation. The three separate tenders were hosted by Rapaport, Stargems and Trans Atlantic Gem Sales (TAGS), with reportedly over 200 companies participating.

  • For months now, the news emerging from across the diamond industry has been colored various shades of sombre, with each analysis referring to some version of the same list of issues ailing the trade: falling polished prices combined with excessive polished inventories, a financing squeeze on Indian manufacturers and a lack of profitablity, low demand for rough, economic uncertainty generated by an unstable geopolitical climate ... take your pick. The question Paul Zimnisky examines is whether this all adds up to a 'crisis'.

  • Alrosa held a tender for polished diamonds in New York this June, earning $3 million from the sale of 20 polished diamonds with total weight of 140.4 carats for an average value of approximately $21,430 per carat. The diamonds on tender included 8 gemstones of standard color and 12 fancy colored polished diamonds, most of them with Fancy Yellow and Fancy Intense Yellow characteristics.

  • The Hong Kong Jewellery & Gem Fair last week (20-23 June) provided a snapshot of a cautious diamond industry in the midst of a period of weak sentiment and even weaker demand, according to several traders we spoke with this week. And they do not see any quick fixes on the horizon. While it may not be the largest diamond show of the year, Hong-Kong June is the most important mid-year jewelry sourcing event in Asia, and as such provides us the opportunity to take the pulse of the polished diamond trade. The consensus? Sentiment is poor. 

    ‘Wait and see’

  • The withdrawal of India’s beneficiary status under the Generalized System of Preferences (GSP) trade program is expected to have a "moderate" impact on India's exports of gems and jewelry to the US, but will not directly impact diamond exports - contrary to what some have been reporting.

  • India's rough diamond trade continued its 2019 downturn in May, as less manufacturing is taking place amid a tightening of available financing and weak demand for small goods, according to data gleaned from the Gems & Jewellery Export Promotion Council (GJEPC). Exports of polished diamonds also recorded their fifth consecutive month of decline in 2019, despite a solid increase (11%%) in the average price per carat.

  • Bonas Group, one of the world's leading rough diamond brokering and tender houses, is holding a private sale of polished diamonds and colored gemstones in Antwerp later this month. Viewings will take place at the Bonas office in Antwerp, in the Diamond Club on the 9th floor from 17 to 21 June 2019, each day from 9:00 am – 6:00 pm. The sale will close on Monday, 24 June at 11:00 Antwerp (CET) time, and will be an online highest bid tender on www.bonasbids.com.

  • An annual tradition, industry veterans Chaim Even-Zohar and Pranay Narvekar present the 2018 iteration of The Tacy Diamond Pipeline, with an in-depth look at the impact that the rise and acceptance of laboratory-grown diamonds has had on the industry this past year.

  • 100 years ago, at the age of 19, Antwerp diamond polisher and engineer Marcel Tolkowsky was the first person to scientifically determine the perfect way to cut a brilliant diamond - 57 facets precisely positioned in such a way as to achieve the maximum brilliance, fire and scintillation.

  • While more than 300 million voters go to the polls this week for the European Parliament elections, members of RapNet - the world’s largest diamond trading network - will have the opportunity to vote on whether it should provide diamond listing and pricing services for synthetic diamonds, yet ultimately the organization itself will decide.

  • Russian diamond miner Alrosa was unable last month to follow up on their modestly encouraging rough-diamond sales from March, as the $316 million earned in April represents a 14% decline from March 2019 and a 20% decline from April 2018. Polished-diamond sales during the month did not fare any better, as Alrosa earned $2.9 million, a 64% decline from March ($8 million) and a 68% decline from April 2018 ($9.1 million).

  • India's rough diamond imports continued its first quarter recession in March, signalling a slowdown in manufacturing amid a tightening of available financing; polished exports also declined for the third consecutive month. Rough diamond imports fell by 16% in value during the month to $1.4 billion on a more than 9% decline in the volume of rough imports, and their value has declined by 24% during Q1.

  • Just about wherever one looks in the diamond industry - natural or synthetic - demand is not keeping up with supply, or is out of balance, writes Edahn Golan on his Diamond Research & Data site.

  • The Antwerp rough diamond trade had its best month of the year thus far, particularly in terms of value, though like much of the rough trade globally it is operating at much lower levels than in 2018. Exports of polished goods slowed in March while prices continue their steady climb above the record average prices achieved in 2018.

  • The Graff Lesedi La Rona weighs an awe-inspiring 302.37 carats and is a top D color, with exceptional clarity and both excellent polish and symmetry. The 302.37 carat Graff Lesedi La Rona is touted as the largest highest color, highest clarity diamond ever certified by the GIA, and the world’s largest square emerald cut diamond, expertly cut and polished by Graff’s world leading team of gemmologists and master polishers - a group from Antwerp.

  • The 'Spectacular 88.22-Carat Oval Diamond', said to be perfect according to every critical criterion, sells at the Sotheby's Hong Kong auction for HK$108 million/US$13.8 million to a Japanese private collector who names the stone the 'Manami Star', after his eldest daughter.

  • Following modest holiday sales, slow trading at the February/March Hong Kong show and a sluggish BaselWorld, typical first quarter inventory restocking of polished diamonds was "subdued" and "cautious" this year, while rough sales tumbled as manufacturing slowed, according to a Rapaport News press release. 

  • The Gemological Institute of America (GIA) is updated its grading reports for laboratory-grown diamonds to align with the revised Federal Trade Commission (FTC) Jewelry Guides, and as of  July 1, 2019 will drop term 'synthetic' when referring to diamonds created in a lab. 

  • Polished diamond manufacturers in Surat and Mumbai have started liquidating their inventories at significant discounts of up to 30-40% in the attempt to settle loans with banks, writes the Times of India. The Indian daily says that diamond companies have been "given the ultimatum to settle their outstanding loan accounts before March 31."

  • The Antwerp World Diamond Centre (AWDC), the umbrella organization of the Antwerp diamond industry, participated from 24 to 28 March in the Belgian State Visit to South Korea, where they co-organized an event to highlight a new partnership between Antwerp and Korea's leading jewelery brand, Golden dew. During the State Visit, and in honor of the jeweler's 30th anniversary, Golden dew launched three special cuts it developed together with three different Antwerp diamond companies.

  • Rapaport Auctions is currently holding a melee auction in Antwerp. The auction features large quantities of original, mixed, and finely assorted diamond parcels, ranging in all shapes, qualities and sizes. The organizers say it is an "excellent opportunity to purchase diamonds at great prices." The auction is taking place at the Diamond Exchange Building and runs from March 25-28.

  • While still lagging behind the levels of activity recorded in February 2018, India's diamond trade last month rebounded from a remarkably poor showing in January 2019. According to figures from the Gem and Jewellery Export Promotion Council (GJEPC), exports of cut and polished diamonds from India fell by 3.51% year-on-year during the month of February 2019 to $2.34 billion as compared to the $2.43 billion exported in February 2018. However, February's exports represent a 34% increase over the $1.75 billion shipped out in January, which will come as a welcome sign to the Indian industry.

  • Russian diamond miner Alrosa sold $340.6 million worth of rough diamonds and diamond powder in February 2019. While such a result is very low for this time of the year - a 36% decline from last February, when the Alrosa sold $532.8 million - it is nonetheless a 22% improvement over the $278.2 million revenues achieved last month, which gives some hope that the polishing wheels are turning again. For the first two months of the year, Alrosa's rough sales are down 40% from 2018, falling to $618.8 million from $1.032 billion last year. 

  • With 86 percent of all rough diamonds flowing through Antwerp on their journey from mine to market, trends from the diamond capital give a fairly good indication of what is happening in the rough trade globally. According to February's figures from the Antwerp World Diamond Centre (AWDC), the trade in smaller, lower-priced goods is picking up again, but this does not mean demand is robust, as prices continue to tumble - something that cannot be said for the polished trade, where prices remain high.

  • Described as “perfect according to every critical criterion,” an 88.22-carat diamond will go under the hammer at Sotheby’s Hong Kong, with the auction house expecting the oval-cut gem to fetch as much as HK$100 million (about US$12.7 million). According to an announcement released by Sotheby’s yesterday, the stone is one of only three oval-cut diamonds with a weight greater than 50 carats “to appear at auction in living memory, and the largest to be auctioned in over five years.” The 88.22-carat, D Colour, Flawless, Type IIa, Oval Brilliant Diamond will hit the auction block at Sotheby’s Ho