Polished diamond prices soften again in March
New York – With demand weak both last month and in the first quarter of the year, the price of polished diamonds of all sizes were down in March, according to Rapaport’s RapNet Diamond Index.
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Tiffany & Co. appoints Costa Chief Sustainability Officer
Tiffany & Co. has appointed Anisa Costa to the newly created position of chief sustainability officer.
RJC CEO Deo out as organization restructures
London – The Responsible Jewellery Council has terminated the contract of CEO Ashish Deo, who has been with the organization for only eight months, and is transitioning to an executive director-led model.
Wanted: diamond industry leadership
Consider this group of headlines from the last week or so: The Botswana Gazette: Diamond Crisis Looms?, Financial Times: India’s Diamond Polishers Lose Their Sparkle , Business Insider: The Diamond Capital of the World Sent Out a Warning Signal .
Refusals, strops, contracts and conspiracies – a rough market review
In a way, there were no surprises this past week, and that in itself should be a surprise. De Beers offered a large rough diamond supply to its clients – at slightly higher prices – and the market just could not digest it.
Contrasting quarters
The first quarter of 2015 was a tough one for the diamond industry but it certainly was not dull – as this writer mistakenly suggested in a conversation this week.
Refusals exceed 30% at De Beers March Sight
Pessimism prevailed at De Beers March sight with more than 30 percent of goods refused, according to several sightholders.
The diamond industry must “be more transparent and adapt to the criteria demanded by banks”
Antwerp Diamond Centre – Friday 27 March 2015. On March 27 of this year the AWDC, Antwerp World Diamond Centre, invited members of the diamond industry to reflect on the financial future of the sector.
Diamond crisis looms?
Disturbing events are said to be currently unsettling the diamond trade locally and internationally. Things are happening in the diamond industry.
Diamond industry lacks bankability, not liquidity
ABN Amro has been a major lender to the midstream diamond industry over the past century. More recently, the group has called on the diamond industry to improve its “bankability” as banks tighten their lending requirements.
Diamonds – Realigning inventory
The middle of the diamond distribution chain is struggling to align itself with new, lower levels of wholesale demand. The result is that manufacturers and polished diamond dealers continue to be squeezed despite growth in consumer demand.
Bumper or Bump?
When I read about ‘bumper years’ I always get a bit nervous unless the pronouncement takes place on the 31st December and refers to the previous twelve months and is not some Delphic pronouncement looking into the future.