Market Synopsis
Rough Diamond Prices to Decline...Polished Diamond Prices to Feel the Pressure
According to a recent release, the prices for rough diamonds arepredicted to go down in the second half of 2012. The reason being citedfor this impending slowdown is their declining demand in India and theFar East. Another reason for the same is the fall in the value of IndianRupee which has led to the industrial liquidity facing this adversesituation.
The immediate effect is the drastic fall in pricesof polished diamonds in June 2012. The low demand for diamonds in theUS, though steady, is not encouraging. The sightholders are rejectingstocks of De Beers as they are seemingly overpriced.
A Rapaport Research Report "Price Pressures", stated that due to theprevailing tension of global recession, the polished diamonds markethas slowed down. Expecting a further price decline, the wholesale andretail markets in the Far East are treading cautiously. The situation inIndia, on the other hand, is being affected by constant depreciationrate of the Rupee, high rough prices, inflation and declining economy.
Thefirst half of 2012 saw one of the steepest declines in the RapNetDiamond Index (RAPI). The index for one Ct dropped down by 3.6%. This was recorded in the latter half of May. The RAPI for 0.3 Ctstones and 0.5 Ct diamonds dropped by 3.7% and 3.6% respectively. InJune, the RAPI 3 Ct stones fell by 5%.
Financial estimatesreleased by Rapaport revealed that the DTC sales went down by 19% (toabout $2.83 billion) in the first half of 2012. The prices rose above 5%and there was a dip in the volume supply. This has caused thesightholders to lose money on De Beers and ALROSA. The situation isexpected to remain the same until the prices of rough diamonds fall.
Financial estimatesreleased by Rapaport revealed that the DTC sales went down by 19% (toabout $2.83 billion) in the first half of 2012. The prices rose above 5%and there was a dip in the volume supply. This has caused thesightholders to lose money on De Beers and ALROSA. The situation isexpected to remain the same until the prices of rough diamonds fall.
"The second half of 2012 is expected to be challenging forthe diamond industry as the demand in Far East is projected to remainconservative. Polished prices are under increasing pressure as globaldiamond market sentiment is expected to remain weak. However,while the industry crisis may be prolonged, companies that offer valuefor money will always see considerable traction"- Mr. Roshan Sanghvi of Sanghvi & Sons
Rough Diamonds Trade Volatile As Dollar Becomes Stronger
Surat: The rough diamonds industry is being affected due tothe fluctuations in the American dollar prices. Since India is thelargest consumer of rough diamonds, this comes as a challenge to thelarge contingent of Indian sightholders and diamond merchants.
India is responsible for 72% of the worldwide consumption ofdiamonds. As per DTC estimates, Indian sightholders form the market foralmost 50% of the sale stock put up by DTC, whichamounts to about $2.5 billion. Another fact worth noting is that DTChas well over 30 Indian sightholders associated with them. In additionto this, Surat, the world's biggest diamond cutting and polishing centrelies in India. The country thus stands as a profitable haven for theWest.
Surat: The rough diamonds industry is being affected due tothe fluctuations in the American dollar prices. Since India is thelargest consumer of rough diamonds, this comes as a challenge to thelarge contingent of Indian sightholders and diamond merchants.
India is responsible for 72% of the worldwide consumption ofdiamonds. As per DTC estimates, Indian sightholders form the market foralmost 50% of the sale stock put up by DTC, whichamounts to about $2.5 billion. Another fact worth noting is that DTChas well over 30 Indian sightholders associated with them. In additionto this, Surat, the world's biggest diamond cutting and polishing centrelies in India. The country thus stands as a profitable haven for theWest.
However,due to the recent rise in the value of the American dollar, Indiantraders are escalating the rough diamond prices. This eventually resultsin the decline in the market demand for rough diamonds. According tomarket experts, if the prices of rough diamonds are high, the value ofpolished ones will be higher.
All these developments may prove to be critical to the Indiandiamond industry and market. It will be interesting to see how themarket (India) andthe suppliers (Western countries) deal with this situation.
All these developments may prove to be critical to the Indiandiamond industry and market. It will be interesting to see how themarket (India) andthe suppliers (Western countries) deal with this situation.
Thinking "Defer"ent : DTC Decides to Allow Sightholders to Defer Goods Till Next Sight.
SURAT: Diamond Trading Company (DTC), the world's biggestrough diamond supplier has offered its sightholders (clients) an optionto defer a part of their purchases to the next DTC sale sight. This stephas been taken as a result of drastic decline in diamond prices allover the world, along with sightholders in Far East and India rejectingDe Beers offerings. DTC organises about 10 sale sights every year. Theyshowcase an array of diamond boxes of different sizes and colors attheir London HQ. After taking a glance, the sightholders place theirorders as per their interests.
The reason formaking this offer for the very first time is that the diamond industryis experiencing bottlenecks. Even Surat, the world's biggest diamondcutting and polishing centre is feeling the pinch of recession. Theindustry is riddled with liquidity problems, market slowdown andshortage of new market. Despite the declining demand for rough diamonds,their prices have been consistently high in 2012.
The June 2011 DTC sight turned out to be an indicator of the on-comingeconomic crisis, as the sightholders avoided buying their goods. Thishappened mainly due to the mismatch between the demand for roughdiamonds and high DTC prices. Though DTC made certain contingent changesto the price and assortment of boxes at the sight, it did not helpmuch. The high demand for low priced goods slowed down the action insecondary markets.
This decision by DTC shall definitely benefits the Indian sightholders,especially in Surat. India is the largest customer ofrough diamonds with a 72% share in its worldwide consumption. The nextcountries in line for the same are China and Israel with as low as 11%and 7% global consumption of rough diamonds respectively.
Indiansightholders form the market for almost 50% of the sale stock put up byDTC, which amounts to about $2.5 billion. Another fact worth noting isthat DTC has well over 30 Indian sightholders associated with them.
According to the industry experts, the prices of rough diamonds areexpected to remain under pressure in the immediate future. This is owingto the prevalent lack of liquidity in the diamond industry. "There is asevere liquidity crunch in the market and the diamantaires have run outof money to purchase rough diamonds. On the other hand, the polisheddiamond sale is very slow, especially due to the slowing economicoutlook for China," said Sanjay Kothari, vice-chairman", said SanjayKothari, vice-chairman (GJEPC), while addressing thepress.
SURAT: Diamond Trading Company (DTC), the world's biggestrough diamond supplier has offered its sightholders (clients) an optionto defer a part of their purchases to the next DTC sale sight. This stephas been taken as a result of drastic decline in diamond prices allover the world, along with sightholders in Far East and India rejectingDe Beers offerings. DTC organises about 10 sale sights every year. Theyshowcase an array of diamond boxes of different sizes and colors attheir London HQ. After taking a glance, the sightholders place theirorders as per their interests.
The reason formaking this offer for the very first time is that the diamond industryis experiencing bottlenecks. Even Surat, the world's biggest diamondcutting and polishing centre is feeling the pinch of recession. Theindustry is riddled with liquidity problems, market slowdown andshortage of new market. Despite the declining demand for rough diamonds,their prices have been consistently high in 2012.
The June 2011 DTC sight turned out to be an indicator of the on-comingeconomic crisis, as the sightholders avoided buying their goods. Thishappened mainly due to the mismatch between the demand for roughdiamonds and high DTC prices. Though DTC made certain contingent changesto the price and assortment of boxes at the sight, it did not helpmuch. The high demand for low priced goods slowed down the action insecondary markets.
This decision by DTC shall definitely benefits the Indian sightholders,especially in Surat. India is the largest customer ofrough diamonds with a 72% share in its worldwide consumption. The nextcountries in line for the same are China and Israel with as low as 11%and 7% global consumption of rough diamonds respectively.
Indiansightholders form the market for almost 50% of the sale stock put up byDTC, which amounts to about $2.5 billion. Another fact worth noting isthat DTC has well over 30 Indian sightholders associated with them.
According to the industry experts, the prices of rough diamonds areexpected to remain under pressure in the immediate future. This is owingto the prevalent lack of liquidity in the diamond industry. "There is asevere liquidity crunch in the market and the diamantaires have run outof money to purchase rough diamonds. On the other hand, the polisheddiamond sale is very slow, especially due to the slowing economicoutlook for China," said Sanjay Kothari, vice-chairman", said SanjayKothari, vice-chairman (GJEPC), while addressing thepress.
Rio Tinto India Releases Its Dirst Development Report for Bunder Project : Promises A Sturdy Development
The latest addition to Rio Tinto India's most advanced andlarge-scale diamond project called "The Bunder Project" is the releaseof its development report which assures that the project will be handledwith equal concern and perfection as its other projects. The BunderProject, started in the Bundelkhand district of Madhya Pradesh, is RioTinto's first and most advanced mining venture in India. Right since itsinception in 2004, it has been defining standards that go beyondcommercial calculations and monetary motives. Rio Tinto spent over 12years in setting up the Bunder community and building a network with thelocal and state government bodies. This was done for the joint purposeofdevelopment of the project and growth of the economically backwardregion of Bundelkhand. The proposed diamond mine, planned to commenceproduction from 2016, will be the first world-class diamond mine inIndia. Dr Nik Senapati, Managing director of Rio Tinto (India) said, "Asthe sustainable development report shows, the Madhya Pradesh region inIndia presents many challenges but also enormous scope for positivechange. Our initiatives in the areas of education, training, employment,health and sustainable agricultural practices are already starting tomake an impact." (As told to GJEPC India) The mining magnates haveundertaken diverse development initiatives and tackled social andcommunity issues in the region. According to them, the needs of womenand children in the surrounding communities are of utmost importance.The initiatives undertaken by the Federation of Indian MineralIndustries (FIMI) recognized these initiatives by presenting theSitaram Rungta Social Awareness Award, 2010-11 to Rio Tinto's IndiaDiamond Project. Reiterating the promises made before initiating theproject, Mr. Tarun Malkani, CEO, Rio Tinto Diamonds (India) said, "Ourexperience across all our diamond operations has been to provide alegacy of stronger, healthier and environmentally secure communities andBunder would be no different. We recognise that significant obligationsare attached to accessing land for mining purposes".
The latest addition to Rio Tinto India's most advanced andlarge-scale diamond project called "The Bunder Project" is the releaseof its development report which assures that the project will be handledwith equal concern and perfection as its other projects. The BunderProject, started in the Bundelkhand district of Madhya Pradesh, is RioTinto's first and most advanced mining venture in India. Right since itsinception in 2004, it has been defining standards that go beyondcommercial calculations and monetary motives. Rio Tinto spent over 12years in setting up the Bunder community and building a network with thelocal and state government bodies. This was done for the joint purposeofdevelopment of the project and growth of the economically backwardregion of Bundelkhand. The proposed diamond mine, planned to commenceproduction from 2016, will be the first world-class diamond mine inIndia. Dr Nik Senapati, Managing director of Rio Tinto (India) said, "Asthe sustainable development report shows, the Madhya Pradesh region inIndia presents many challenges but also enormous scope for positivechange. Our initiatives in the areas of education, training, employment,health and sustainable agricultural practices are already starting tomake an impact." (As told to GJEPC India) The mining magnates haveundertaken diverse development initiatives and tackled social andcommunity issues in the region. According to them, the needs of womenand children in the surrounding communities are of utmost importance.The initiatives undertaken by the Federation of Indian MineralIndustries (FIMI) recognized these initiatives by presenting theSitaram Rungta Social Awareness Award, 2010-11 to Rio Tinto's IndiaDiamond Project. Reiterating the promises made before initiating theproject, Mr. Tarun Malkani, CEO, Rio Tinto Diamonds (India) said, "Ourexperience across all our diamond operations has been to provide alegacy of stronger, healthier and environmentally secure communities andBunder would be no different. We recognise that significant obligationsare attached to accessing land for mining purposes".
As of today, the project provides employment to about 420people, 80% of which are from local and neighbouring communities. Arotational policy is adopted for localcommunity employment, because of which around 170 families are gettingthe benefits of employment opportunities at the project. Besidesdeveloping their employees, Rio Tinto is also working to develop localjobs opportunities to provide services that will support the mine. Forinstance, a vegetable growers group has been established to providefruits and vegetables to their kitchen.
Rio Tinto promises to make the Bunder Project standout as one of theworld's best mining projects developed with a commercial as well ashumanitarian foresight.
Hyderabad Pearl, Jewellery and Gen Fair, June, 2012
Sanghvi & Sons continued its association with world-classjewellery expos and fairs by participating in the Hyderabad Jewellery,Pearl and Gem Fair, 2012 held at the HITEX Exhibition Centre, Hyderabad.The three-day event (22nd to 24th June 2012) featured 125 exhibitorsfrom different parts of India. These included amix of leading manufacturers, wholesalers, retailers, import-exporttraders, and other similar businesses.
Sanghvi & Sons, one ofthe most trusted and well-known names in the business showcased theirdiamonds. Their displays were well acknowledged and received anencouraging response across visitors categories. The deciding factor formost of these customers was the quality of the diamonds and not justthe price.
The event also provided an excellent platform for interacting withclients and prospects. Sanghvi & Sons hopes to continue itsparticipation in the years to come.
June Hong Kong Jewellery and Gem Fair, 2012
Sanghvi &Sons participated in the 25th June Hong Kong Jewellery and Gem Fair,2012 held at the prestigious Hong Kong Convention and Exhibition Centre(HKCEC). Overits four days of operation (21st to 24th June), the event featured1,793 exhibitors from 36 countries and regions. The Fair is one ofAsia's three largest jewellery expos and is attended by top jewellerybrands from all parts of the globe.
Owing to the weak international demand, the general response to thisyear's Fair was a little subdued as compared to the previous years.However, despite the apparent slowdown, Sanghvi & Sons managed tobuild a good prospect base and generated valuable business leads.Visitors to the stall included dealers and buyers from various Asiancountries like China, Hong Kong, Vietnam, Korea, Israel, Thailand, etc.
The event turned out to be an excellent endeavour. The company hopes tomake the most of the business contacts and networks developed throughthis event.
Sanghvi &Sons participated in the 25th June Hong Kong Jewellery and Gem Fair,2012 held at the prestigious Hong Kong Convention and Exhibition Centre(HKCEC). Overits four days of operation (21st to 24th June), the event featured1,793 exhibitors from 36 countries and regions. The Fair is one ofAsia's three largest jewellery expos and is attended by top jewellerybrands from all parts of the globe.
Owing to the weak international demand, the general response to thisyear's Fair was a little subdued as compared to the previous years.However, despite the apparent slowdown, Sanghvi & Sons managed tobuild a good prospect base and generated valuable business leads.Visitors to the stall included dealers and buyers from various Asiancountries like China, Hong Kong, Vietnam, Korea, Israel, Thailand, etc.
The event turned out to be an excellent endeavour. The company hopes tomake the most of the business contacts and networks developed throughthis event.
Stone Edge Presents The Best Rough Diamond Deals In The Market
StoneEdge brings to you the best diamond deals in the market. Our expertsresearch the latest product offers across geographies to bring to youthe most exclusive deals you can rely on. Watch this space every monthto make the most of our research.
StoneEdge brings to you the best diamond deals in the market. Our expertsresearch the latest product offers across geographies to bring to youthe most exclusive deals you can rely on. Watch this space every monthto make the most of our research.
1. Stone Id: R22578
Sanghvi & Sons is offering a 10%discount on this shimmering loose round diamonds that has a Rapport rateof $58200 per carat.Specifications:
| Colour: D | Cut/ Polish/ Symmetry: EX EX EX |
| Clarity: VVS2 | Fluorescence: None |
| Carat: 3.26 ct | GIA Certificate no.: 5136093541 |
2. Stone Id: R21405
Presenting an exclusive deal from Sanghvi & Sons forthis round diamond. Avail a staggering 58% off on a piece that treads at a Rapport rate of $17500 per carat.Specifications:
| Shape: Round | |
| Colour: J | Cut/ Polish/ Symmetry: GD VG VG |
| Clarity: Si1 | Fluorescence: Strong |
| Carat: 5.01 ct | GIA Certificate no.: S3B95627 |
3. Stone Id: F24653
This glistening loose cushion diamondfrom Sanghvi & Sons is available at a special discount of 23%. TheRapport rate for this is $58200 per carat.Specifications:
| Shape: Cushion | |
| Colour: H | Cut/ Polish/ Symmetry: EX VG |
| Clarity: VVS2 | Fluorescence: None |
| Carat: 5.01 Ct | GIA Certificate no.: 1142754200 |
Mr. Ranjit Jain - 022 40309999 | ranjit@sanghvisons.com
Mumbai Head Office: 308, Prasad Chambers, Swadeshi Mills CompoundOpera House, Mumbai - 400 004, India Phone: +91-22-40309999 | Fax:+91-22-23630716info@
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1 comment:
This is not a scam, but they are SPAM...illegal use of email addresses...
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