The need for significant capital investments will be the main trend in the diamond mining industry in 2021-2030

The prospects of the diamond industry in the post-crisis period are discussed by the Rough&Polished correspondent with Sergey Mityukhin, Candidate of Geological and Mineralogical Sciences, Honored Geologist of the Russian Federation.

06 july 2020

Young Diamantaires: We create initiatives for the benefit of diamond communities worldwide

The World Federation of Diamond Bourses recently launched its Young Diamantaires website. The organization has worked for the past four years with young members of the diamond community all over the world to create a platform through which they can express...

29 june 2020

Those who implement the right anti-crisis strategies have more chances

It is not surprising that because of the pandemic and the crisis, the most heated debate in the jewellery industry is about what is happening and the possible ways of survival. Irina Slesareva, an expert, art director of the Russian Diamond Line contest...

22 june 2020

The secondary diamond market in Russia is not mature although its prospects are huge

Pavel Barannik, the founder and head of the Moscow Gemological Laboratory, the founder of the Gemological Institute and President of the Moscow Diamond Club, graduated from the Gemological Institute of America (GIA). He is an expert and consultant...

15 june 2020

Johan Erikson: The industry needs to spend more on advertising and marketing

First Element is a fully independent Diamond Services Company registered in Belgium, Botswana, South Africa and Dubai. First Element is committed to providing a world class diamond service aimed at adding value to the entire supply chain, from the daily...

08 june 2020

De Beers, Alrosa record ‘rock-bottom’ sales in June – report

01 july 2020
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Image credit: DTC Botswana

Two leading global diamond companies, De Beers and Alrosa recorded “rock-bottom” sales in June as buyers rejected their high rough prices, according to media reports.
Rapaport reports that buyers were favouring cheaper parcels from smaller suppliers.
“[The major miners] want to hold on to prices, so people don’t see any [incentive] to buy because it’s difficult to sell and make money,” an unnamed sightholder was quoted as saying.
“[Manufacturers and dealers] are already sitting on large inventories of polished and rough.”
Smaller diamond suppliers conducting tenders in Antwerp were said to have sold goods at prices ranging from 15% to 25% lower compared to February levels.
De Beers and Alrosa allegedly maintained their prices at pre-Covid-19, which discouraged buyers.
However, an unnamed dealer was quoted as saying that De Beers or Alrosa would fetch prices up to 30% below their current levels should they put their monthly allocations on the open market.
“There is no appetite for rough, as factories [in India] have been operating on a very, very small capacity for a month,” the dealer said.
Meanwhile, another sightholder said sales of polished had not improved dramatically as stocks had not depleted.
“Factories have no reason to open, so why would we buy rough?,” said the unnamed sightholder.
De Beers conducted its June sight last week, with limited viewings in Antwerp.
The sight, according to Rapaport, had an estimated value of about $40 million.
Alrosa’s sale ended on June 15 and it is expected to publish its June data on July 10.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished