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Rio Tinto ups diamond production in Q3

Rio Tinto Group has announced that its diamond production for the third quarter of 2017 was higher than the third quarter of 2016.

Yesterday

Rough patch for De Beers as eighth sales cycle dips to $370m

De Beers said its eighth sales cycle eased to $370 million from the previous cycle’s $507 million or $494 million, a year earlier.

Yesterday

RJC and DMCC to collaborate on CSR and sustainability in jewellery segment

The Responsible Jewellery Council (RJC) and the Dubai Multi Commodities Centre (DMCC) signed a Memorandum of Understanding to work cooperatively on advancing their shared objectives of improving corporate social responsibility and responsible...

Yesterday

Stellar disposes Guinea assets for $1,25mln

Stellar Diamonds said it has finally sold its Guinea assets for $1,25 million following an evaluation by the buyer, BDG Capital.

Yesterday

Court thwarts Israeli diamond firm from exiting Zim before settling debts

Zimbabwe’s High Court has thwarted an attempt by Fuss Diamond, an Israeli firm to close its operations in the southern African country without settling its debts.

Yesterday

A Trip Through the Diamond Industry in March 2017

17 march 2017
(paulzimnisky.com) - As the diamond industry marks its foray into 2017, Q1 demand for rough has been stronger relative to Q4 2016 and also relative to a year ago. Christmas season 2016, albeit mediocre, and a strong 2017 Chinese New year has driven seasonal restocking demand, and most, but not all, Indian cutters have begun to show signs of recovery after the initial shock of the demonetization last year. Last year, most miners liquidated excess rough inventories which they accumulated in 2015, and have since ramped-up production into 2017, resuming more normal pre-indigestion output levels of three years ago. Demand growth this year is likely to come from a post-election U.S. market where employment is stable and the stock market is at an all-time-high, driving positive sentiment that should translate into discretionary spending. The U.S. is the largest diamond jewelry market in the world representing 45% of global demand. China, the world’s second largest jewelry market, at 16% of global demand, should be driven by continued government stimulus and an ever-expanding middle-class consumer. India, representing 8% of the market, should show improvement year-over-year as domestic demand for jewelry returns as the demonetization impact is digested, especially in the second half of the year.

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