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It's our responsibility to capture the imagination of future generations towards diamonds

As CEO of Beverly Hills-based Grand Metropolitan - a privately-held luxury goods holding company with a 130-brand portfolio - Vin Lee carries the burden rather lightly on his shoulders. Having migrated from Canada as a baby, it did not take long for...

Today

‘Non-diamond producing countries shouldn’t lead KP’

Non-diamond producing countries should not lead the Kimberley Process (KP) as was the case last year with the United Arab Emirates (UAE), according to the African Diamond Council and African Diamond Producers Association chairperson...

04 december 2017

Jewellers’ Guild of Russia sees its mission in creating highly developed national jewellery market

In recent years, the Jewellers’ Guild of Russia has noticeably stepped up its activities. Eduard Utkin, General Manager of this Association told Rough & Polished about what is happening in the country’s jewellery sector, the tasks facing the community...

27 november 2017

Any color diamond is a great investment

Bruno Scarselli belongs to the 3rd generation of the Scarselli family, which has for the last half-century been producing and selling some of the world’s highest quality yellow, blue and pink diamonds available on the market. Bruno heads the company...

20 november 2017

It’s crucial everybody feels confident that their suppliers use the System of Warranties - Stephane Fischler

The System of Warranties (SoW) in the diamond industry dates back to 2002, when the World Diamond Council (WDC) in team with the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association...

13 november 2017

High Volumes of Lower-Priced Rough Define Antwerp Trade in Q3

12 october 2017
The trend of high volumes of lower-priced rough diamond exports from Antwerp that started in full force during May continued to define the rough trade through the third quarter (July-Sept.), while the diamond capital’s polished trade recorded somewhat soft results. According to figures published by the AWDC, on a year-over-year basis, the volume of rough diamond exports during the quarter increased nearly 12%, totaling over 27 million carats, while their value actually declined by 13% to $2.7 billion. The volume of rough imports also increased 1.5% while their value also tumbled by 13%. Clearly, lower-priced rough is dominating the trade recently. Meanwhile, the value of polished exports fell 1% during the quarter to $2.6 billion, while their volume fell 5% to 1.2 million carats.
For the year 2017 to date (Jan.-Sept.), the volume of rough exports has increased nearly 17% to 94.2 million carats compared to the same period a year ago, while falling 5% in value to $9.3 billion. A similar trend is found on the import side, as rough volumes increased slightly (1%) while their value has fallen by 13%. Commentators have noted that diamond producers have been unloading excess inventory consisting of primarily lower-quality goods, and have seen their average-price-per-carat figures trend lower this year. Meanwhile, De Beers’ 7th rough diamond sales cycle (ended early September) saw a 21% decrease in value compared to Sight 7 a year ago, following a 1.5% decline in value compared to the first half of 2016. Nonetheless, strong demand for rough has continued, thediamondloupe.com notes.

Alex Shishlo, Editor of the Rough&Polished European Bureau in Brussels

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