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ALROSA becomes a certified member of the RJC

ALROSA has become a certified member of the Responsible Jewellery Council (RJC) by achieving certification against its Code of Practices through meeting the highest ethical, human rights, social and environmental standards as established by the...

Yesterday

De Beers rakes in $450mln from latest rough sales – Anglo

Anglo American said De Beers raked in $450 million from its tenth sales cycle of the year compared with $422 million, a year earlier.

Yesterday

The Kimberley Process (KP) Plenary session starts in Brisbane, Australia

Prior to the commencement, the World Diamond Council (WDC) led bilateral meetings with members of the KP family including the Chair, some of the 81 KP member countries and the Civil Society Coalition. It also conducted its third Observer’s Forum...

Yesterday

CIBJO President expressed support for De Beers plan to develop diamond traceability system

CIBJO President Gaetano Cavalieri has voiced the World Jewellery Confederation's support for a De Beers development project that employs blockchain technology, which was announced on December 4 by the group's CEO, Bruce Cleaver.

11 december 2017

IDE to unveil technology breakthrough initiatives at IDWI 2018

The Israel Diamond Exchange (IDE) has announced that it will unveil a series of groundbreaking initiatives that will have an important impact on the diamond industry in Israel and worldwide at the International Diamond Week in Israel (IDWI)...

11 december 2017

Rough Supply Up, Polished Sales Down, and Stockpiles Created

11 august 2017
(ehudlaniado.com) - It was only a week ago when we discussed the disconnect between rough and polished diamonds, and it seems that the divide is only growing. Last week, I noted that De Beers’ rough diamond sales increased during the first half of 2017. My point was that rough diamond supply increased, while polished prices and demand declined.
De Beers reported that their diamond production in the second quarter of the year totaled 8.7 million carats, a 36% year-over-year increase. My research firm Mercury Diamond reported two weeks prior that the Mercury Diamond Global Tracker™ (MDGT™), an index of polished diamond prices, declined 0.6% year-over-year in June 2017. It was the 31st consecutive month of decline, a period of more than two and a half years of continuous eroding value. The disconnect, however, is less related to changing prices, and more to demand: if there is demand, the supply makes sense.
Last Tuesday, De Beers announced the results of its sixth cycle rough diamond sales. According to the press release, it sold $572 million worth of rough diamonds during the cycle though all of its different channels. This is $31 million more than the $541 million worth of rough diamonds it sold during the previous cycle, and $44 million more than the $528 million worth of rough diamonds it sold during the sixth cycle of last year. So, not only did rough diamond sales increase during the first half of 2017, but the trend of increased sales is continuing into the third quarter as well.

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