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
Russian diamond miner Alrosa has mentioned several times recently that it is aiming to become the leader in the international market for colored diamonds, and is making its case with a media preview of its collection of large colored diamonds, including unique pink, bright yellow and pink purple gems. The star of the show was a pink oval diamond weighing 14.83 carats - the largest pink diamond in the history of Russia.
The South Korean government, following years of negotiations with the Korea Diamond Exchange (KDE), has abolished the special 26% Individual Consumption Tax (ICT) on imports of loose polished diamonds exceding KRW 5,000,000 ($4,460), leaving in place only the simplified rate of 5% import tax and 10% VAT which already applied to all imports. KDE President Nam Chang-Soo said, "We hope that the abolition of the tax will have a very positive effect on diamond jewelry sales in South Korea."
The partial shutdown of the US government is likely to have had a negative impact on exports of small diamonds from India to the US, according to Colin Shah, vice chairman of the Gem & Jewellery Export Promotion Council (GJEPC). This comes as unwelcome news to an industry that is already experiencing sluggish performance, with The Economic Times citing an 8.5% decline in the value of polished exports in the first nine months of FY2018, sitting at to $22.41 billion.
The Diamond Pro, described as "an unbiased online diamond jewelry advisory website," has launched Ringo, an artificial intelligence (AI) tool that helps any online diamond buyer determine the best diamond options based on their specific requirements. The "first-of-its-kind tool" is intended to enable buyers to determine if a diamond is clean to the naked eye based solely on its picture, and be assured they are making the best purchase based on certification, desired shape, setting style and precious metal type.
The value of India's polished-diamond exports grew by approximately 6% to over $24 billion in 2018 despite a 10% downturn in the volume of goods exported, according to figures from the Gem & Jewellery Export Promotion Council (GJEPC). The rise in value is attributable to a 17% higher average price per carat, calculated at $775, for the 31.5 million carats exported, reflecting an industry-wide trend in 2018 of softening trade in smaller, lower-quality goods and more robust demand for larger goods.
The Antwerp diamond trade was nothing if not balanced in 2018. The industry traded a total of $46 billion in 2018, representing an increase of less than a percentage point over 2017 ($45.9 billion). The value of value of the goods flowing in and out of Antwerp was once again divided equally between rough and polished goods, with the polished trade good for $22.9 billion and the rough trade representing $23.1 billion.
Alrosa finished the year with a 6% increase in rough and polished diamond sales after a strong December in which the Russian miner's rough sales rose 44% year-over-year to $324 million from $228 million, which was also good for a 23% rise over November. The company sold $5 million in polished diamonds in December.
"For the first time since 2011, 2018 saw the Israeli diamond trade stabilize," writes The Israeli Diamond Industry, bringing to an end what the President of the Israel Diamond Exchange (IDE), Yoram Dvash calls “a few years of crisis." According to the Diamonds, Gemstones and Jewelry Administration in the Ministry of Economy, exports of polished diamonds fell by only 2.5% percent to approximately $4.5 billion, representing an improvement over sharper declines in recent years, while polished imports reached $3.0 billion, an improvement of 4.1% over last year.
Laurelton Diamonds, a wholly owned subsidiary of Tiffany & Co. and supplier to the famous jeweler, will be holding tenders of rough as well as polished goods in Antwerp during the month of January. The tender of rough and sawn goods gets underway on Tuesday, January 8 at the Antwerp Diamond Tender Facility located in the Antwerp World Diamond Centre building, Belgium, and will continue until Thursday, January 17. The tender will include a selection of white and Cape Rough parcels in sizes from +5cts to -7 in regular and high quality assortments in Cts and Grs.
Brands need to be concerned about over-sentimentalizing peoples’ relationships with diamonds as a representation of love. The American middle class is much weaker today than it was when De Beers came out with their famous ‘Diamonds are forever’ campaign. And with diminished purchasing power, consumers are more willing to look into alternative choices for rings, making lab-grown diamonds and gemstones more attractive.
The downturn in India's diamond trade continued unimpeded in November, as its two critical indicators - polished-diamond exports and rough-diamond imports - tumbled once again. According to figures from the Gem & Jewellery Export Promotion Council (GJEPC), polished diamond exports fell to $1.56 billion, a decline of 12% as compared to the $1.78 bn exported in November 2017, and a 32% decline from $2.3 billion exported last month.
India’s polished diamond exports rose by 19% on a year-over-year basis during the month of October, reaching $2.31 billion compared to the $1.93 billion exported in October 2017, according to figures from the Gem & Jewellery Export Promotion Council (GJEPC). The strong showing was backed by the increased quantity of goods exported, up 8% to 2.9 million carats from 2.7 million a year ago, as well as an increase in the average price per carat, which climbed 11% to $791. However, polished exports fell slightly from $2.37 billion last month.
Following more than a year of detailed analysis, cutting and polishing by an elite team of gemologists and master craftsmen, Graff Diamonds has started to unveil some of the more than 60 polished diamonds cleaved from the 1,109-carat Lesedi La Rona. The polished diamonds, Graff writes, range in size from under a carat to in excess of 100 carats, each diamond will have D color, the highest grade for a diamond, and exceptional clarity. They will be set mounted as solitaire rings, earrings and pendants.
The Antwerp diamond trade in October booked value gains across all categories - particularly for polished-diamond exports and imports - with the exception of rough-diamond imports, which followed the recent decline in production and sales from the diamond miners.
Polished diamond prices in October gave back some of their gains for the year, as prices declined slightly ahead of India's Diwali festival, when polishing factories close for the month of November. This according to figures from Rapaport's RapNet Diamond Index (RAPI). Rapaport says inventory levels have risen but sentiment has not been dented as expectations for the US holiday season are positive.
India’s polished diamond exports rose by 6.6% during the six-month period ended September 30, 2018 (H1 FY 2018-19) despite a dip of 10.8% in exports during the month of September, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC). Exports of cut and polished diamonds from India during September fell to $2.37 billion from $2.65 bn in September 2017, while polished diamond exports from April-September 2018 increased $2.68 billion from the $11.90 bn exported over the same months last year.
Russian diamond mining giant ALROSA's September sales continued the miner's positive trend in 2018 with an 8% increase in rough diamond sales compared to September 2017, which was admittedly a low comparison base. ALROSA sold $331.6 million worth of rough diamonds compared to $305.8 million a year ago, as the larger sized stones sold well while lower qualities and sizes set forth their downturn.
The polished-diamond trade in Antwerp during September again witnessed a surging average price per carat, particularly for imports (+22%), however, the trading center remained quiet after the traditionally slow summer holiday, as a result of which the volume of goods traded declined notably. Some have attributed the September slowdown to the Jewish holiday period, while others tell us that Indian companies are still hesitant to acquire smaller goods, with many having already purchased what they need for the upcoming Diwali holidays.
Russian miner ALROSA's first “True Colours” auction of fancy colored diamonds garnered $9 million from 210 stones. Described as, "another significant step towards our goal of becoming the world leader in the production of coloured diamonds," the bidding was very active, the company said, and most of the lots were sold for well above their starting price.
In an effort to narrow the current account deficit (CAD), the Indian government on Wednesday increased the import duty on 19 'non-essential items' including polished diamonds, gemstones and jewelry, but excluded rough diamonds from the increase. The import duties on cut and polished diamonds, lab-grown diamonds and cut and polished colored gemstones increased from 5% to 7.5%.
The Israel Diamond Exchange (IDE) has appointed Eran Zini as its new Managing Director. After having served as senior advisor to Israel’s Minister of Justice, he joined Israeli pioneering electric car start-up Better Place, as head of government relations and regulation. He then joined a government company devoted to vocational rehabilitation for people with disabilities as head of operations, and a year later was promoted to Managing Director, a position he held until he was recruited by IDE.
Zini fills the vacancy left behind by Eli Avidar, who stepped down in April.
The polished-diamond trade in Antwerp rode a higher average price per carat, particularly for exports (+6%), to solid value gains during the traditionally slow month of August, when the industry takes a three-week hiatus. The volume of rough goods traded during the month declined notably without having much impact on the overall value of those goods, as the average price per carat for rough goods is also outpacing that of the year prior by approximately 6%.
Russian diamond miner ALROSA sold $294.9 million worth of rough and polished diamonds in the typically slow month of August, representing a 14% rise year-over-year. The miner sold $283.2 million worth of rough diamonds during the month, an 11% increase over the same period in 2017. Meanwhile, polished-diamond sales increased 516% y-o-y and 121% over July, earning $11.7 million, as the group hosted several sales.
Russian diamond mining giant ALROSA is planning to showcase a unique collection of large, fancy-colored diamonds at the Hong Kong Gem & Jewelry Fair in September, reports Rough & Polished. The collection of diamonds the miner will showcase includes 250 stones of different shapes and colors (including very rare colors) - purple, pink, orange and vivid-yellow - and is said to be the largest collection of fancy-colored stones the company has ever presesnted.
Russian mining giant ALROSA saw its July rough diamond sales increase by 17% year-over-year to $333.8 million from $286.1 million as demand for expensive high-quality diamonds remained strong. Total sales for the month increased by 16% to $339 million, including $5.3 million in polished diamond sales, a 28% decline from the same month in 2017, excluding the sale of the Dynasty Collection and the 51.38-carat round stone, the central diamond in the eponymous collection.
Rising prices of rough and polished diamonds led to substantial value gains for Antwerp’s diamond trade in July, which surged during the weeks preceding its traditional August recess, according to data from the Antwerp World Diamond Centre (AWDC). Rough diamond imports surged by 23% and exports by 18% compared to the same month a year ago, while polished imports gained 28% in value and exports gained more than 8% compared to the month of July 2017.
India’s polished diamond exports rose by 5% during the month of June 2018 as compared to a year earlier, while overall exports from the gem and jewelry sector grew by a marginal 0.9% in the same period, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC). Exports of cut and polished diamonds from India during the month rose to $2.08 billion from $1.98 bn in June 2017, an increase of 5.07% y-o-y. Rough imports were down by 14.2% in value terms during the month to $1.53 bn as compared to $1.79 bn imported during the previous June.
In June 2018, Russian mining giant ALROSA Group sold $390.3 million worth of rough and polished diamonds. The miner's earnings from rough diamond accounted for $383.7 million of total sales, an 8% increase over the $354.4 million sold in June 2017. The company also sold $6.6 million worth of polished diamonds, four million less than in the same month last year. During the first half of 2018, ALROSA sold $2.639 billion worth of rough diamonds, also an 8% rise over the first half in 2017.
The new revolutionary machine will pose a big challenge to the artisanal skills of the diamond polishers in Surat. At present, from near gem quality to solitaires, the diamond polishers of Surat and Gujarat are the leaders. But, the machine developed by AWDC will change the scenario in the longer run.
- Diamond industry analyst Aniruddha Lidbide responds to Fenix automated polisher in TOI article, "Machine made in Antwerp may pose threat to Surti diamond polishers"
This morning, the Antwerp World Diamond Centre (AWDC), together with its research center the Scientific and Technological Research Center for Diamonds (WTOCD), unveiled a revolutionary technology that fully automates and accelerates the diamond polishing process: Fenix. This technology fundamentally transforms that process that has not changed since Lodewijck Van Bercken, a 15th-century jeweler and diamond cutter in Antwerp, in 1456 discovered that diamond could be polished with diamond. Watch the preview video here.
ALROSA's rough diamond sales of $277.5 million in May 2018 represent a significant step backwards from its $467.6 million in sales in May 2017 (-41%), and fell 30% compared to last month ($396.2 million), which the Russian miner says was part of a, "planned decrease in sales". Deputy General Director Yury Okoemov attributed the planned sale of lower volumes to, "a seasonal decline in the current production, mostly driven by mining suspension at some alluvial deposits in the first months of the year,” as well as pointing to the sale of inventories at the beginning of the year.
Antwerp's polished diamond exports in May surged by 62% compared to April and increased 5% year-over-year, according to data from the Antwerp World Diamond Centre (AWDC), as the Belgian polished trade continues its modest 2018 climb. Polished exports rose to $1.18 billion from April, which achieved only $728.2 million, and outstripped May 2017 exports by $56.5 million. The rise was backed by a 13% increase over April in the number of carats exported, and a 4% increase compared to the same month a year ago.
Exports of polished diamonds from the world's largest manufacturing hub, India, remained steady at $1.99 billion during the month of April as compared to March ($2.03 billion), and jumped by 14% compared to the same month a year ago according to figures Gem & Jewellery Export Promotion Council (GJEPC). The increase in value compared to April 2017 stems from a rise in the volume of shipments, from 2.37 to 2.77 million carats (+17%), as the average price per carat fell slightly (-2%) to about $719 per carat.
The world's leader in rough diamond output, Russia's ALROSA, plans to boost revenue from selling rare, colored stones where demand is stable, according to the head of ALROSA's sales division Evgeny Agureev. The global market for polished colored diamonds is now dominated by Rio Tinto and De Beers, but it apparently ALROSA aims to makes some changes to its sorting and processing in order to compete. “We hope that ...
The Antwerp diamond trade in 2018 as a whole continues to outpace its performance during 2017, showing a double-digit increase in the value of rough goods traded and steady figures from the polished trade compared to the same period a year ago. According to figures published by the Antwerp World Diamond Centre, the rough diamond trade in April continued to shine, with the value of rough exports increasing nearly 17% year-over-year, while rough imports surged by 43%.
Israel’s polished-diamond exports declined 33% to $1.16 billion in the first quarter of 2018, according to Israel's Ministry of Economy and Industry as reported by Rapaport News. The results stand in sharp contrast to diamond exports in Q1 2017, which jumped to $1.696 billion as a result of international trade shows, and also fell well short of the $1.467 billion in exports recorded in Q1 2016.