Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Diamond Prices Soften with Weaker Global Demand

06 may 2016
Polished diamond trading slowed in April due to sluggish demand at the start of a seasonally-quiet period. Sentiment weakened as the positive momentum from the first quarter failed to gain traction. Supplies significantly increased due to high rough sales and polished production in the first quarter.
The RapNet Diamond Index (RAPI™) for 1-carat, GIA-graded diamonds slipped 0.3% in April. RAPI for 0.30-carat diamonds fell 1.3% and RAPI for 0.50-carat diamonds also declined 0.3%. RAPI for 3-carat diamonds dropped 2.2%.
RAPI for 1-carat diamonds rose 1.2% in the first four months of the year, but is still down 4.6% from a year ago.
The Rapaport Monthly Report highlighted concern among diamond traders that consumer demand is weak. While a steady U.S. market supported the diamond industry, sentiment in the Far East and European markets remained cautious.
Polished inventory levels rose during a period of restocking in the first three months. Jewelers avoided any unnecessary build-up of inventory and took goods on memo, which put additional pressure on manufacturers’ liquidity.
Selective buyers offered lower prices for goods as new supply came on stream in April. Suppliers held prices firm for better-quality RapSpec A2+ diamonds, but were more flexible on their older stock of lower-quality goods. Demand for diamonds 3 carats and up was weaker.
Manufacturers’ profit margins were squeezed as rough prices remained high during a period of weaker polished trading. Rough demand was robust even as De Beers raised prices by an average of 2% in April, according to Rapaport estimates. De Beers and ALROSA reduced inventory that was accumulated in 2015 as sales volume outpaced production.
Rough demand is expected to slow from May as manufacturing levels have stabilized. Polished trading is also expected to remain slower this month. Amid declining global demand, dealers have shifted focus to the U.S. ahead of the Las Vegas shows that begin May 31.