De Beers, which accounts for 40 per cent of the world’s supply of rough diamonds, is likely to surge prices again next month. The company is also lining up a promotional effort ahead of the Christmas season, traditionally a buying time for diamond purchases. For full story, click here
Diamond Trading Company, a distribution arm of world’s leading diamond producer De Beers, feels that some types of diamonds may be in short supply by the end of the year because of drastic production cuts. For full story, click here
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
Faced with the worst crisis in decades, diamond mining companies have decided to cut production and rough diamond supply to their clients over the next few months. For full story, click here
Diamonds could very well represent the next safe haven for investors, much like gold and silver, as investors flee the financial markets for more secure investments.
The summer market lull has made its mark on July diamond sales in Asia. Japanese polish diamond imports took a marginal 0.9 percent rise to hit $73.96 million. Hong Kong reported July retail sales were flat, with jewelry among the worst performers. July diamond imports from India fell 14.7 percent to $25.56 million. Imports from Belgium rose 8.8 percent to $22.9 million.
Junior diamond mining companies in South Africa are in talks with the State Diamond Trader to supply up to 10% of their diamond output. Abbey Chikane, the SDT’s chief executive, said last month: The state trader had made acquisitions of 130,000 carats of diamonds from De Beers at an average price of $100 a carat. [...]
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