Helped by increased demand in 2010 for luxury goods after a abysmal year in 2009. The increased revenues from rising diamond prices and demand, many companies are increasing production. Alrosa mulls over an IPO by the end of 2011 worth upwards of $2 billion.
The world’s leading diamond producer, De Beers, has reported a 99-percent dip in net profits for the first half of 2009 to just $3 million after demand for luxury goods was hard hit by the international recession. For full story, click here
The U.S market has slowed with the advent of summer vacations. Summer wedding season was driving demand at retail, with wedding bands being the top seller. For full story, click here
The country’s diamond-processing and jewellery-making industry is heaving a sigh of relief with the recovery in demand from local as well as global markets. For full story, click here
Shares in Gem Diamonds surged 12.9 percent, building on Friday’s 20 percent gain, as investors react to a recovery in demand for rough diamonds with market conditions looking more positive. Desmond Kilalea, a diamond analyst at RBC Capital Markets, stated: They have just raised money and we know diamond prices are getting a bit better. [...]
Online jewelry retailer Blue Nile Inc’s announced that it has posted better-than-expected quarterly net profit that dipped by nearly a quarter as receding demand in a slump offset waning diamond prices. For full story, click here
After a slump, diamond market in Surat was abuzz with activity following slight spurt in demand for high quality diamond. Dinesh Nawadia, general secretary, Surat Diamond Association, stated: At the moment, there is requirement in the market for a grade workers who are skilled and who are good in cutting and polishing diamonds. We hire [...]
The diamond industry in Surat, which has encountered a dip in US diamond demand, is now seeking out new markets like the Middle East. GJEPC Chairman Vasant Mehta stated: We are looking away from the US markets. We will spend up to Rs 50 crore a year on promotions in the Middle East which has [...]
The global economic recession has severely lowered demand, hurting those in the supply chain including miners in Africa, cutters in India and retailers in Europe and the U.S. For full story, click here
De Beers, the world’s leading diamond producer, reported that its sales are rising steadily after demand for the diamonds plunged last year. For full story, click here
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