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...

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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...

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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

April Certified Polished Diamond Prices Stable With Low Trading Volume

05 may 2012

Certified polished diamond prices were stable in April although trading remained weak, Rapaport reports. Activity in the diamond trading centers slowed as diamantaires took a break during the Passover and Easter holidays. India is under pressure as the new protectionist 2% polished diamond import tax has drastically reduced 1Q 2012 polished imports by 71% and exports by 42%. Thousands of Indian jewelry shops also went on strike in protest against new excise taxes. While market sentiment improved slightly after the government agreed to review its excise tax policy, the protectionist import tax has destroyed India’s opportunity to become a world class global diamond trading center.
Demand in the consumer markets was stable but wholesalers and retailers continue to maintain low inventory levels. Buyers are focused on commercial-quality diamonds. There is continued improvement in demand for fancy shape diamonds. Price conscious consumers are moving to fancies as their prices are much lower than rounds. Price differentials encouraged cutters to manufacture rounds instead of fancies in 2011, resulting in a current shortage of fancies.
In April, the RapNet Diamond Index (RAPI) for 1.00 ct. polished diamonds fell 0.2%. The 0.3 ct. category increased by 0.4 percent while 0.5 ct. rose 0.5 percent. RAPI for 3.00 ct. diamonds increased 1.2 percent.
During the first four months of the year, RAPI for 1.00 ct. diamonds fell 2.9 percent and was at about the same level as it was one year ago.
Trading remains well below levels experienced in the first half of 2011. Rough prices have increased by about 7 percent during the first four months of the year and continue to firm. De Beers continues to hold back production exerting pressure on the market. There is improving Indian demand for rough but liquidity remains tight and manufacturing profit margins are low.
Pressure for higher polished prices is coming from high rough prices rather than improving consumer demand. Rough prices are unsustainable at current levels with speculation that U.S. and Far East demand may expand. While the long term prospects for these markets remain strong, current sentiment and trading levels point to a conservative trading environment for the rest of the second quarter.