Diamond News Archives
- Category: News Archives
- Hits: 2539
(IDEX Online News) – There was a clear downward trend in price changes in many categories of round diamonds in February, particularly in categories from 0.30-0.39 to 0.80-0.89 carats and 2.00-3.99 carats. <?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>
However, there were rising prices in the smallest stones of 0.18 to 0.29 carats, and in 1.50-1.99 carat diamonds.
Fancy diamonds saw relatively few price changes in the smallest categories, but there were decliners in the 0.30-0.39 and 0.40-0.44 categories, along with the 0.50-0.69 through to the 1.50-1.99 carat categories.
The following are some of the changes in this week's IDEX Online Diamond Price Report.
To receive a free copy of the full IDEX Online Diamond Price Report, please email us at
Rounds
- 0.18-0.22 cts D / IF -2%, F-G / SI2 +4-5%
- 0.23-0.29 cts E / SI2 -3%, I-J/ SI2 +3-4%
- 0.30-0.39 cts D-I / VS2-SI1 -2-3%, K-IF +3%
- 0.40-0.44 cts D-H / IF-SI1 -2-3%, L-M / IF-SI1 +2-3%
- 0.45-0.49 cts D-I / VS1-SI1 -2-3%, D / SI2 +2%
- 0.50-0.69 cts D-K / IF-SI2 -1-3%, N / VS1 +3%
- 0.70-0.79 cts D-F / IF-SI3 -1-3%, L-M / SI1 +2-3%
- 0.80-0.89 cts D-I / SI1-SI2 2-3%, I-J / IF +2-3%
- 0.90-0.99 cts E-I/ SI2 -2-3%, I / IF-VVS2 +3%
- 1.00-1.24 cts D-F/ IF-VVS2 -2-6%, D-F / I1 +2%
- 1.25-1.49 cts G-H / SI2 -3%, D-F / VS1-VS2 +2-3%
- 1.50-1.99 cts D / SI1-SI2 -1-3%, E-I / IF-VS1 +2-3%
- 2.00-2.99 cts N+ / SI2 -2-4%, D / IF +3%
- 3 cts D-M / VVS1-SI2 -1-3%, D / IF +3%
- 4 cts H-I / SI1-SI2 -2-3%
- 5 cts I / VS2 -3%, H-I / SI1-SI2 +2-3%
Fancy Cuts...
- Category: News Archives
- Hits: 2069
(IDEX Online) – Registration has opened for participation in the first-ever edition of the Bharat Diamond Week at the Bharat Diamond Bourse (BDB) in Mumbai, India. <?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?> The BDB expects thousands of visitors from India and abroad to take part in the April 23-25 international diamond week. The BDB said that 200 Indian companies will be exhibiting polished diamonds to buyers from across the world. "The interest in the Bharat Diamond Week continues to rise far beyond our original projections and this is extremely positive," said Bharat Diamond Bourse Vice-President Mehul Shah, who is heading the Diamond Week project. "We believe that there will be around 4,000 visitors. Our aim is to create connections between our international friends and colleagues and Bharat Diamond Bourse members. "We see the size of interest, and it is clear that this is going to be an event that will need to be held on a regular basis. There is a very clear demand both from exhibitors and from visitors," he said, adding that the BDB will be booking around 200 complementary hotel rooms in order to host foreign buyers who will be taking part. BDB President Anoop Mehta said: "Our colleagues from abroad are as excited as we are at the prospect of this international diamond week. The demand is clearly there. We believe it is critical for the Bharat Diamond Bourse and for the international trade that an event such as this is held. The industry is facing various challenges and we are delighted to be able to organize an event that we believe will lead to great connections. The Bharat Diamond Week will also feature a display of synthetic diamond detection equipment with competitively priced services, together with specially organized seminars and meetings on the issue of synthetics, Shah said. The synthetics part of the Diamond Week is going to bring a great deal of added value for attendees, with the latest updates on this important issue, Mr Shah said. "I strongly recommend that our friends and colleagues from around the world register as soon as possible in order to avoid disappointment," Mr Mehta said, adding that priority will be given to members of bourses affiliated to the World Federation of Diamond Bourses (WFDB), but all members of the diamond trade across the world are encouraged to attend. Leading up to the Bharat Diamond Week, there will be a cricket tournament from April 8-15 featuring 12 teams, with players from the following companies and organisations: Asian Star, Ankit Gems, Bharat Diamond Bourse, Mahendra Brothers, Blue Star, Palanlur Samaj Kendra, Jewelex, Venus Jewel, Shree Ramkrishna Exports, GIA, Rosy Blue and Jasani. Visitors interested...
- Category: News Archives
- Hits: 2285
(IDEX Online) – India's polished exports in January soared by almost 29 percent to $2.08 billion.<?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>
Polished exports for the April to January period showed a rise of 4.2 percent to $19.3 billion, according to the figures released by the Gem & Jewellery Export Promotion Council (GJEPC).
The GJEPC said that imports of rough surged by 13.6 percent in January to almost $1.44 billion.
In the April to January period, rough imports increased by 11.1 percent to $15.5 billion....
- Category: News Archives
- Hits: 2076
(IDEX Online) – The International Institute of Diamond Grading & Research (IIDGR), part of De Beers Group, will launch two of its diamond education courses in Simplified Chinese, helping students in one of the largest and fastest growing markets for diamond jewelry to enhance their knowledge of the industry.<?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>
The online Diamond Foundation Course, which was launched last year and is the industry’s first to cover the full diamond pipeline, will be available in Simplified Chinese from 1 March, with the Polished Diamond Grading Course to be translated later this year.
The courses have been designed to support flexible learning that minimizes the impact on students’ daily lives and allows for personalization of the learning experience. The Diamond Foundation Course is a completely online course, while the Polished Diamond Grading Course is a two-part course that involves distant learning via textbooks and online testing in the first instance, followed by a one week lab-based element.
Both courses will be available to those already involved in the diamond industry – whether at the retail level or other stages of the value chain – as well as anyone wishing to further their knowledge of diamonds and the diamond industry in general.
Jodine Perrin, Director of Education, IIDGR, said: “We’ve seen a lot of interest in our education services since they were launched last year, so translating these courses into Simplified Chinese was a logical next step to expand our offering. We see great potential for flexible and fully comprehensive education courses for those already working in the diamond industry in China, or who may wish to in the future.”
Jonathan Kendall, President, IIDGR, said: “Providing high-quality learning experiences, backed by the unrivalled diamond knowledge and expertise of De Beers Group, is an important priority for IIDGR and we are delighted to be launching our education services to a new audience in one of the world’s largest consumer markets for diamonds.”...
- Category: News Archives
- Hits: 2197
(IDEX Online) – Sarine Technologies Ltd recorded revenues of $12.9 million in Q4 2017 ended 31 December, an improvement of 15% over Q3 2017. <?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>
The increase was mainly attributed to higher sales of diamond manufacturing related capital equipment as business sentiment in the diamond manufacturing sector improved somewhat towards the very end of 2017.
With higher revenues and lower operating expenses, the Group recorded profit from operations of $2.1 million. Owing to a write down in Q4 2017 of $1.0 million of certain deferred and other tax assets, income tax expense rose considerably to $1.4 million. Notwithstanding this, the Group concluded Q4 2017 with a net profit of $0.6 million which compares favorably to the net loss of $0.5 million in Q3 2017.
For the full year, Group revenue was lower at $58.6 million, as sales of capital equipment was affected by the slowdown in diamond manufacturing activities amid higher than normal surplus inventories of polished diamonds in H2 2017 as well as illicit competition in India.
With an installed base of 345 Galaxy® family systems as at 31 December 2017, total recurring income amounted to just under half of Group revenue.
The Group recorded a net profit of $5.8 million in FY2017. The Board has recommended, subject to Annual General Meeting approval, a final dividend of US cents 1.5, bringing total dividends for the year to $12.3 million.
Prospects
Despite challenging industry conditions and illicit competition, Sarine said it achieved the milestone of scanning over 10 million rough diamonds through its Galaxy® family of inclusion mapping systems in 2017. “Against the backdrop of significantly reduced DeBeers sights, we believe this is indicative that we are not losing significant existing business and are expanding our customer base, illicit competition notwithstanding. Notably, as DeBeers sights are now increasing, we are seeing a commensurate increase in our scanning activities, with new scanning records being set,” commented David Block, CEO of the Group.
Going forward, the Group expects sentiments in the midstream industry to improve, as the year-end holiday season sales reduced inventories significantly (to the point of decided shortages of certain categories of goods), and expectations are upbeat for robust Chinese New Year and Valentine’s Day sales. The Group will continue with its active efforts in patent and copyright enforcement to defend its intellectual property rights.
On the retail front, the Group’s target for 2018 is to double the number of stones scanned in 2017. To this end, the Group will continue to focus on growing the customer base for sales programs utilising Sarine Profile. Notably, two significant Chinese chain retailers, JAFF, with some 200 stores, and JASS, will be launching Sarine Profile after the Chinese New Year. Following a...