Demand will pick up once the season starts

N Anantha Padmanaban took charge as the Chairman of the All India Gem & Jewellery Domestic Council (GJC) in January 2019. He has immense hopes and confidence in the Indian jewellery sector. His motto is to ‘ensure that after the day’s business...

14 october 2019

Prospects for discovering new diamond deposits in the Arkhangelsk Province are far from exhausted

ALMAZINTECH is engaged in technical auditing and comprehensive assessment of activities performed by exploration, diamond mining and gold mining businesses in Russia and other countries, as well as carries out research and development. It employs highly...

07 october 2019

Botswana Diamonds eyes expansion of Thorny River to include Marsfontein – Campbell

Botswana Diamonds, which has a 40% stake in Thorny River, through Vutomi, said there are plans to expand the project located in South Africa to include Marsfontein once a mining permit for the latter has been awarded. Company managing director James...

30 september 2019

Diamond knife and tender system: The tight-fisted paying twice?

LLC Kristalin is the only company in Russia that manufactures microsurgical diamond blades for domestic healthcare that meet international requirements and are used in ophthalmology, neurosurgery and plastic surgery. Mikhail Zhiltsov, the company’s Deputy...

23 september 2019

Didier Giard: Stiff competition among the diamantaires is one of the factors of the price war

On September 9, 2019, the French Association of Gemmology (l’Association Française de Gemmologie, AFG) held its regular Paris Gemmological Rendez-Vous. Its organizer, Didier Giar, the head of the AFG kindly agreed to answer questions from Rough&Polished...

16 september 2019

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.