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Expectations are rising for the Chinese New Year even as China’s economy is projected to gallop at a slower pace in 2014. Despite the lower economic forecasts, the diamond industry should view developments in China with optimism rather than the cautious outlook many economists hold for the coming “Year of the Horse.”
Yesterday’s meeting on synthetics was a valuable exercise in figuring out where the trade goes from here, but it turned out to be off the record, so I don’t have much to report from it. I would, however, like to relay the piece of advice I gave at the meeting.
An acquaintance of mine runs a small diamond business. He does not have a web site, nor does he have a Facebook page. He is not LinkedIn, would have no idea how to Tweet and, frankly, could not care less about social media marketing.
It was an unusual year indeed for the rough diamond sector of the diamond pipeline. Prices were hiked and decreased, The DTC moved to Botswana, Alrosa made the long-awaited public issuance, tenders took hold and banks, for the first time, took a public stance against the wild chase after rough and their subsequent rising prices.
Olivier Segura manages the French Gemological Laboratory (Laboratoire Français de Gemmologie, or LFG), which was founded in 1929 by a customs official, and run by the Paris Chamber of Commerce from 1936 to 2011.
The mood in the diamond industry has already improved in 2014. Initial reports suggest the Christmas season was better than expected for the diamond trade and the U.S. appears inclined toward growth again.
What an odd year it was. Polished diamond prices, which tried to rise in the early part of the year, were nearly flat throughout the second half of 2013.
In many respects, 2013 was a momentous, albeit frustrating, year for the diamond industry. There were plenty of positive milestones achieved that will continue to leave their mark for years to come.
In 2013, diamonds were everyone’s best friend. Check out 15 of the most jaw-dropping, wondrous, luminescent, and headline-grabbing diamonds this year had to offer.
Co-founder and Senior Strategic Advisor of the Diamond Empowerment Fund, Dr. Benjamin Chavis is a very eclectic and inspiring figure.
Rough trading improves as challenges persist. The De Beers December sight had an estimated value of $580 million with prices and box values kept relatively stable.
At face value, the recent cooperation agreement between the Antwerp World Diamond Centre (AWDC) and ALROSA didn’t bring much that’s new to the table.