GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

Yesterday

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

Diamonds under pressure, long term outlook positive

10 july 2012

Slowing demand in key markets sees big companies like Rio Tinto and BHP Billiton reviewing their diamond divisions. However, the longer term view is positive, Business Day reported cited by Polished Prices.
The global diamond sector is going through a difficult patch, with prices falling and demand slowing in key markets, though rough diamond prices are expected to show signs of recovery next year, RBC Capital Markets analyst Des Kilalea said, according to the report.
Rio Tinto and BHP Billiton are both reviewing their diamond divisions with a view to selling them. The Oppenheimer family, whose name is synonymous with diamonds, has agreed to sell its 40% stake in De Beers to Anglo American for $5bn in a deal that is nearing conclusion.
The longer-term outlook for diamonds is positive, De Beers CEO Philippe Mellier said in June, pointing to a widening gap between demand and supply, which shrank 15% between 2007 and this year due to operational issues and dismal market conditions caused by the onset of the global financial crisis in 2008, said the report.
The Chinese and Indian diamond markets, accounting for 25% of demand, should match the world’s largest diamond market, the US, with its 38% stake, in the next decade, he said.
However, the short-term forecast is bleak, with demand in key markets like China and India cooling and a fully stocked pipeline of rough diamonds, Mr Kilalea said.
"Diamantaires are facing the twin pressures of slow sales of polished stones and rough prices that seem out of kilter with polished. Add to that tight liquidity and a slowing economic outlook for China and it is clear that the industry is in a difficult phase right now," he said.
Bob Gannicott, CEO of the Toronto-based diamond producer and jewellery retailer Harry Winston, said last month rough diamond prices have fallen 15% this year and described the outlook for the remainder of the year as "pretty chaotic."
Companies like Petra and Gem Diamonds can adjust their capital expansion plans by postponing spending, Mr Kilalea said.
"For the larger players deferring sales is an option; for smaller companies this is more difficult given project funding," he said.