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Synthetics Threat Will Grow, Says ABN Amro

Author: unknown - Published 17-01-2019 14:33 - ( Reads)
We think that 2019 and 2020 will be the years that lab-grown diamonds take off and move from an introduction phase to a growth phase,” Georgette Boele, senior precious metals and diamonds analyst for the Dutch bank, said in a report Tuesday. “Sooner, rather than later, lab-grown-diamond wedding jewelry will be part of the offering.” This will have “serious consequences” for the trade, Boele added

Rapaport Weekly Market Comment

Author: unknown - Published 17-01-2019 14:32 - ( Reads)
Trading relatively quiet as jewelers begin restocking after holiday season. Top-tier independents and luxury retailers outpacing large jewelry chains: Signet Jewelers Nov./Dec. sales -3% to $1.8B, Richemont’s Cartier and Van Cleef & Arpels 3Q revenue +9% to $2.3B, Forevermark 2018 US sales +8%. Cautious outlook for Chinese New Year as Chow Tai Fook 3Q same-store sales -7% in China, -6% in Hong Kong/Macau. India trade uncertain due to tightening bank credit, slim profit margins, and excess inventory of unwanted lower-quality polished. Rough prices and supply expected to be steady at next week’s De Beers sight. India 2018 polished exports +6% to $24.4B, rough imports -9% to $16.9B.

Local council for gem & jewellery to be launched on January 31

Author: Ram Sahgal - Published 17-01-2019 13:21 - ( Reads)
A domestic council (DC) for the gems and jewellery sector will be officially launched by commerce minister Suresh Prabhu on January 31 in Mumbai, trade sources said after the third meeting of members of a working group under the helm of the directorate general of foreign trade (DGFT) on Wednesday. The salient feature of the DC is that it will have associations, not individuals, as its members.

Russia’s Alrosa back to mining diamonds in Zimbabwe

Author: Cecilia Jamasmie - Published 15-01-2019 13:26 - ( Reads)
Russia’s Alrosa (MCX:ALRS), the world’s top diamond producer by output, is returning to Zimbabwe after almost two years, as the company continues to expand in Eurasia.

Alrosa Sales Up in December

Author: unknown - Published 14-01-2019 14:30 - ( Reads)
Proceeds increased 38% year on year to $328.7 million, the miner said Friday. Rough-diamond sales rose 42% to $323.7 million, while polished revenue dropped 47% to $5 million, according to Rapaport calculations.

Lucara Recovers 127 Carat Top White Gem Diamond from Karowe

Author: unknown - Published 11-01-2019 15:57 - ( Reads)
Lucara Diamond Corp. ("Lucara" or the "Company") is pleased to announce the recovery of a 127-carat, top white gem diamond, from its 100 per cent owned Karowe Diamond mine located in Botswana (Picture attached). Since mining began at Karowe in 2012, a total of 129 diamonds in excess of 100 carats have been recovered, 33 in 2018 alone. That tally includes 12 diamonds larger than 300 carats in size, of which 5 were recovered in 2018. In addition, Lucara has sold 180 diamonds in excess of $1 million each and ten diamonds have sold for in excess of $10 million each. View PDF version.

Rapaport Weekly Market Comment

Author: ritwick - Published 10-01-2019 15:53 - ( Reads)
Sentiment improved after relatively good holiday season, but dealers and cutters concerned about low profit margins, excess supply, and selective demand. Indian bank credit tightening, with ICICI to close Antwerp branch. Stock markets rebound, with Dow index +2% since Jan. 1, amid optimism for US-China trade deal. Suppliers focused on Chinese New Year orders, with steady demand for lower-color and -clarity goods (G-J, VS-SI). Lab-grown producers gaining investor interest. Diamond Foundry to raise annual synthetic-rough production tenfold to 1M cts. Tiffany & Co. declares geographical provenance of diamonds over 0.18 ct. De Beers approves changes to its disclosure rules.
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