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Diamond jewellery is definitely making a mark on gold loving customers
ishu_datwani_preview.jpgIshu Datwani, Founder, Anmol Jewellers is a man in a hurry. For a first generation jeweller, he learnt the ropes of the business in a short span of time and has not looked back since. While still in college, Ishu pursued a course at the Gemological Institute, armed with which he later established Anmol Jewellers in 1986. From then on, it was one fast race for this young entrepreneur, who with sheer grit and determination took the brand ‘Anmol Jewellers’ to unimaginable heights. Here, Ishu Datwani speaks to Rough&Polished in his inimitable style, about his early struggling days in the Indian jewellery market to the present day… and of course his dreams for the future.

As the world economies grow, the silver will absolutely grow - Michael DiRienzo, Executive Director of the Silver Institute
michael_dirienzo_preview.jpgThe year of 2013 was marked by increased demand for silver. Jewelry demand rose 10 percent, while total demand for the metal went up by 13 percent. Michael DiRienzo, Executive Director of the Silver Institute based in the United States, told Rough&Polished about current trends in the silver market disclosing the aims pursued by his organization and its prospects.

CIBJO: It was a good and well coordinated job
Alla Nozhkina, Doctor of Engineering, Professor, Head of Research at the VNIIALMAZ laboratory, shared her opinion about the CIBJO Congress held last May in Moscow and about the problems discussed there at the Conference on synthetic diamonds. VNIIALMAZ is Russia’s leading institute in the field of research, development, production and use of natural and synthetic diamonds and diamond tools.

Lucara steps up efforts to recover undamaged large stones at Botswana’s Karowe mine
paul_day_preview.jpgLucara Diamond, which wholly-owns Karowe Mine in Botswana through Boteti Mining, is undertaking a $50 million plant expansion at the mine located near Debswana’s Orapa mine. Company chief operating officer Paul Day told Rough & Polished in an interview on the sidelines of this year’s edition of the Botswana Resource Sector Conference that the expansion would be commissioned at the end of the first quarter next year. He said that the plant upgrade was designed at dealing with the ore the company encountered at depth, which has slightly different geological characteristics. Day also said that Lucara would put a very large diamond recovery circuit to enhance their ability to recover large diamonds in an undamaged state.



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585/Zolotoy Jewelry Chain Signed agreement for RUB 570 million
On July 18, 2014, The Days of Vladimir Region event was launched with the ceremony being attended by Acting Governor of St. Petersburg Georgy Poltavchenko. The event featured presentation of capabilities and potential of the Vladimir Region.

24.07.2014
Yakutia to Reduce Polished Diamond Production by 16.2% in 2014
Diamond cutting enterprises of Republic Sakha (Yakutia) forecast 2014 polished diamond production to reach $145 million, which will be 16.2% lower compared to the previous year.

24.07.2014
Jewelry Exchange Reports 1Q Same-Store Sales +10%
The Jewelry Exchange reported that same-store sales jumped 9.9 percent year on year for the first quarter that ended on March 31, helped by an 11 percent increase companywide just in the month of March.



Cautious prognosis for diamond market after ‘good’ holiday season

30.01.2012

Rockwell Diamonds, which operates alluvial diamond mines in South Africa, said recently that anecdotal evidence suggests that diamond jewellery sales in the United States were better during the last Christmas season than the year before.

This, it said, is expected to assist in the liquidation of inventory with the resultant cash flow improvement rolling over into the January and February rough diamond purchasing period.

Rapaport Group also noted that confidence had improved in the diamond industry since January 1, following a period of relative price stability and a “satisfactory” United States holiday season.

Jewellery seller, Tiffany & Co said that worldwide Christmas-season sales rose 7 percent year on year to $952 million for the two months that ended on December 31.

It said retail sales rose 4 percent to $503 million across the Americas, which include the U.S., Canada and Latin America, while sales leaped 19 percent to $165 million in the Asia-Pacific.

Japan recorded a sales increase of 13 percent to $160 million, it said, adding that Europe sales improved by 1 percent to $117 million.

Rockwell expects diamond prices and demand to increase through the first half of 2012, while Rapaport cautioned that there were concerns whether current price levels were sustainable due to the adverse economic conditions.

The question, however, is whether the conditions that led to a dip in the diamond market during the second half of 2011 were still prevalent.

According to Rapaport the decline recorded during the second half of 2011 was influenced by increasing uncertainty caused by the U.S. and European economic crises, volatile financial, currency and commodity markets, as well as continued political instability in the Mideast.

It said tight liquidity, particularly in India, also impacted trading from July as manufacturers were unable to obtain replacement costs on the high rough prices they had paid earlier in the year.

Clearly, these factors are still prevalent and largely expected to continue influencing the market this year.

The World Bank recently slashed its global economic growth forecasts and warned that rich nations' debt problems may yet reap a crisis that would eclipse the tumult of 2008.

It noted that although the financial turmoil appeared contained at the moment, the risk of a much broader freezing up of capital markets and a global crisis similar in magnitude to the Lehman crisis remains.

It is such a gloomy picture that will largely affect the performance of the diamond market particularly, in the U.S and Europe.

However, this might not be the case in China and to some extend India, which saw its economic growth decelerate in part, last year, because of domestic policy tightening.

Diamonds.net said sentiment in the U.S about prospects for the coming months was mixed as it remains to be seen whether large retailers will build inventories at the same pace as last year.

It also said polished trading remains relatively slow in India due to weak domestic demand and caution by buyers about the general market.

Rough trading was slow but activity is expected to improve in the coming weeks as the January sight cycle begins.

“There is sufficient supply of goods in the market but very few transactions are taking place due to wide price differentials,” it said.

“Large manufactures have maintained their production levels while small and medium size cutters are operating at well below capacity.”

Chinese buyers on the other hand were currently focused on filling last-minute orders before the Chinese New Year begins on January 23, but a slowdown was expected in the coming weeks as the focus turns to the retail market, Diamonds.net said. 

By and large it appears the market will pick in some regions and slow in others.

However, with the economic uncertainty that characterized the better part of the second half of 2011 still hovering above the diamond market, despite good business recorded during the holiday season, it is tricky, as Rockwell Diamonds did, to conclude that all will be rosy during the first half of year.

Predicting the performance of the diamond market this year, especially at this stage is problematic; hence caution is the buzz word.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished

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