Diamond stocks Articles

Rapaport Weekly Market Comment

Jul 29, 2021 / Rapaport News

Diamond market quieter as Belgium and Israel trades take vacation. Sentiment positive and prices firm. Dealers seeking opportunities and gaining confidence to buy at higher price levels. US retail recovery driving demand. Polished inventory rising following high-volume 1H rough purchases. RapNet listings exceed 1.5 million diamonds for first time since March 2020. Supply shortages persist due to I...Read More

Alrosa Follows De Beers with Price Rise

Jul 29, 2021 / Joshua Freedman

RAPAPORT... Alrosa increased its rough-diamond prices by around an average of 7% at this week's contract sale, customers of the miner told Rapaport News.The hikes impacted the full range of Alrosa's goods, though they were steeper for sizes above 2 carats, with some categories up by more than 10%, the clients said. The miner also adjusted its assortments, making some boxes appear significantl...Read More

Not Enough Rough

Jul 29, 2021 / Avi Krawitz

RAPAPORT... Alrosa is not used to buying diamonds. As the largest producer of rough by volume, the Russian miner accounts for about one-quarter of global supply and is therefore second only to De Beers in setting the tone for the market. It was therefore somewhat unusual that Alrosa bought the majority of rough at an auction held by Russia's state gemrepository Gokhran in July. The company is usua...Read More

De Beers Returns to Profit as Market Recovers

Jul 29, 2021 / Rapaport News

RAPAPORT... De Beers went back into the black in the first half of the year as sales and production rebounded from the Covid-19 crisis.Underlying earnings at the diamond miner reached $267 million for the six months ending June 30, compared with a loss of $214 million a year earlier, parent company Anglo American reported Thursday. Revenue more than doubled to $2.9 billion versus $1.22 billio...Read More

Alrosa Buys State Diamonds as Stocks Run Low

July 29, 21 / Staff reporter

(IDEX Online) - Alrosa bought stockpiles of diamonds from the Russian government in a highly unusual bid to replenish dwindling inventory, ahead its current contract sale.A special auction was held last week by Gokhran, the state repository of precious gems and metals. Alrosa bought 70 per cent of the diamonds offered for sale.The miner has been warning of "a long period of supply deficit" in the...Read More

Petra Recovers 343-ct Type IIa at Cullinan

July 29, 21 / John Jeffay

(IDEX Online) - Petra Diamonds has recovered a 342.92-carat Type IIa white diamond from its Cullian mine, in South Africa.The UK-listed miner said it was of exceptional color and clarity.In March, it sold a smaller rough stone from the same mine - a 299.3-carat white gem, also Type IIa -  for $12.18m.It was bought by Stargems DMCC, Dubai-based arm of the Antwerp diamond supplier.Earlier this...Read More

Jewelry Strong for Kering in First Half

Jul 28, 2021 / Rapaport News

RAPAPORT... Kering reported solid jewelry sales during the first half of 2021, led by a recovery in Asia and strong demand for its Qeelin brand.The group's jewelry houses, which also include Boucheron and Pomellato, delivered an "outstanding performance" in all regions and across all channels, Kering reported Tuesday. "Our jewelry houses all posted sharp rebounds, with significant triple-digit inc...Read More

Cullinan Yields 343ct. Rough for Petra

Jul 28, 2021 / Rapaport News

RAPAPORT... Petra Diamonds has recovered a 342.92-carat rough diamond from its Cullinan mine in South Africa, it said Wednesday.The white, type IIa stone, which is of "exceptional quality" in terms of both its color and clarity, will likely be offered at the company's upcoming September tender, Petra noted.Petra's revenue jumped 38% to $406.9 million last year, growth the company attributed to its...Read More

De Beers Sells $510m Rough as Demand Remains High

July 28, 21 / John Jeffay

(IDEX Online) - De Beers today said it sold $510m (provisional) of rough at Sight 6, as demand remained high, especially from the US and China.The figure is more than four times the $116m total for last July, in the depths of the pandemic, but more significantly it is more than double the $250m figure for pre-Covid July 2019.De Beers said it was still offering extra flexibility to sight holders, a...Read More

World's Largest Sapphire Cluster - 2.5m carats - Found in Gem Trader's Back Yard

July 28, 21 / John Jeffay

(IDEX Online) - The world's largest sapphire cluster - weighing 2.5 million carats, or more than half a ton - has been found by workers digging a well at the home of a gem trader in Sri Lanka.The pale blue stone (pictured) has been provisionally valued at $100m, although the quality of the stones inside the cluster is not yet known."The person who was digging the well alerted us about some ra...Read More

De Beers Sales Rise Following Price Increase

Jul 28, 2021 / Rapaport News

RAPAPORT... De Beers' sales momentum continued in July as demand strengthened and rough prices grew.Proceeds came to $510 million for the month, compared with $116 million a year earlier, the company reported Wednesday. The total was 7% more than in June and the highest since February."Our sixth sales cycle of the year has seen the continuation of good demand for rough diamonds, driven by str...Read More

"Bogus Gemologist" tells Court: It wasn't me, it was my Dead Sister

July 28, 21 / John Jeffay

(IDEX Online) - The woman accused of swapping $7.8m of diamonds for worthless pebbles told a court it wasn't her.  It was her dead sister.Lulu Lakatos, 60, is accused of posing as a gemologist called Anna in a sophisticated heist at the jeweler Boodles (pictured) in Mayfair, London.But she told a court it was her younger sister Liliana who had been involved in the crime in March 2016.&nb...Read More

US Jewelry-Store Closures Accelerate

Jul 27, 2021 / Rapaport News

RAPAPORT... Some 143 US jewelry businesses shut their doors in the second quarter of 2021, 53 more than the same period last year, according to data from the Jewelers Board of Trade (JBT).In total, the sector downsized 1.8% year on year to 24,021 companies active during the three months, the JBT said Monday.Of the businesses that discontinued operations in the second quarter, two firms went bankru...Read More

LVMH Buoyed by Resurgent Jewelry Sales

Jul 27, 2021 / Rapaport News

RAPAPORT... LVMH saw sales of watches and jewelry triple in the first half of 2021, boosted by its Bulgari brand, the acquisition of Tiffany & Co., and a strong rebound in demand.Revenues in the category jumped to EUR 4.02 billion ($4.74 billion) in the six months ending June 30, compared to EUR 1.32 billion ($1.55 billion) a year ago. LVMH reported Monday. Sales for the segment also beat pre-...Read More

A Blessing in Disguise? Full Analysis of the Pandemic in IDEX's Pipeline 2020

July 27, 21 / IDEX Online

(IDEX Online) - Coronavirus has caused global devastation, but for a diamond industry that was in turmoil, it may prove to have been a blessing in disguise.It has emerged from the depths of pandemic lockdowns and is now in position that was "unimaginable 12 months ago," say experts Pranay Narvekar and Chaim Even Zohar in IDEX's new state of the industry analysis - Pipeline 2020 - which is ava...Read More

Sammy Davis Jr's Jewels Fetch way above Estimates

July 27, 21 / John Jeffay

(IDEX Online) - A diamond ring owned by the legendary Sammy Davis Jr sold for $69,000, way above its high estimate of $40,000 at Bonhams' California.The octagonal-shaped modified brilliant-cut diamond (pictured) was GIA-certified as 6.28-carats, K-color and VS1-clarity.Another piece that belonged to the flamboyant performer, an 18-karat gold, 10.75-carat fancy brown diamond and diamond ring,...Read More

Tiffany Targets the Young . . . and Angers the Old

July 27, 21 / John Jeffay

(IDEX) -  Tiffany & Co is suffering a backlash over its new ad campaign - condemned on social media as disgusting, disrespectful and ageist.Posters of grungy young women with attitude (pictured), headlined Not your mother's Tiffany, have appeared by roadsides in Los Angeles, USA.It follows the on-off-on-again $16.2bn buyout by luxury conglomerate LVMH and the appointment of 29-year-o...Read More

Alrosa Buys from Gokhran to Fill Inventory Gap

Jul 26, 2021 / Rapaport News

RAPAPORT... Alrosa has purchased rough diamonds from Russia's national stockpiles to help manage inventory shortages ahead of this week's monthly contract sale.The miner bought "some 70%" of goods that Gokhran - the state gem and precious-metal depository - offered at a special auction last Friday, Alrosa said Monday. The company did not disclose the purchase's value or volume.According to a...Read More

Colored Gems Marketing Council to Debut in Vegas

Jul 26, 2021 / Rapaport News

RAPAPORT... Mining company Fura Gems is set to launch a trade organization aimed at unifying the colored-gemstone industry, debuting the group at the upcoming Las Vegas jewelry shows.The Fura Marketing Council (FMC) will have booths at both JCK Las Vegas and the American Gem Trade Association (AGTA) fairs, the miner said Sunday. It will support the sector by coordinating marketing, training a...Read More

Jewelry Group Awards $35K in Scholarships

Jul 26, 2021 / Rapaport News

RAPAPORT... The Women's Jewelry Association Foundation (WJAF) has revealed the winners of its 2021 Excellence Awards.The group will award a total of $35,000 to 12 women, using funds that it raises at its annual Awards for Excellence Gala, it said last week.The prizes range from $1,000 to $5,000 each and are offered in five categories: The Cindy Edelstein Jewelry Design Scholarship, the Gabriel Lov...Read More