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

RapNet Index for 1ct diamonds fell by 3.1% in H1

03 july 2019

The RapNet Diamond Index (RAPI™) for 1-carat diamonds fell 1.4% during June and 3.1% in the first half of the year. It also went down 5.6% on a year-on-year basis due to sluggish demand and tightening manufacturing profits, as per Yahoo Finance with reference to Rapaport Research report.
The diamond industry is facing challenges as there is not enough profit in the midstream as cutters are overstocked and they don’t need to buy rough from suppliers. As a result the number of diamonds listed on RapNet increased 13% from a year ago to 1.5 million stones as of July 1.
The situation influences manufacturers who have reduced polished production an estimated 30% to restore the market balance. Cutters are also shifting to smaller and lower-cost items to keep workers occupied. The result is that production of 0.25- to 0.50-carat diamonds remains steady, even though sales are slow and prices continue to soften. RAPI for 0.30-carat diamonds declined 12.2% in the first half and 20.9% over the past year.
In China and Far East the demand for smaller diamonds is slow. The tendency will continue into the second half of the year as manufacturers will focus on profitability rather than turnover. 
Recently, De Beers said that its diamond sales continued on a downward trajectory. The diamond giant saw its latest rough sales drop 33% to $390 million compared with $581 million, a year earlier. 
It also eased 6% from $416 million realised last month. 
ALROSA, a Russian diamond mining company, also announced that it does not seek to achieve the planned level of diamond sales for 2019 due to weakening demand from cutters who are under great pressure due to overflow of diamond stocks, according to TASS.