U.S. polished diamond imports dropped 15 percent year on
year to $1.75 billion in July, while polished diamond exports fell 13 percent
to $1.23 billion. The average price per carat for imported diamonds rose to
$1,747 during the month, reflecting a slight .6 percent
year-on-year increase.
- Rough diamond imports fell 28 percent to $47 million.
- Rough diamond exports plummeted 61 percent to $21 million.
Belgium’s polished diamonds exports decreased 23 percent to
$404.4 million in
August compared to one year ago, according to the Antwerp
World Diamond Centre (AWDC).
- Polished diamond imports fell approximately 23 percent to
$760.7 million.
- Rough diamonds exports declined by 34 percent to $429.9
million.
- Rough diamond imports dropped 46 percent to $656.1
million.
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India’s Polished Exports Plummet
India’s polished diamond exports fell by 41 percent year on
year to $1.42 billion in August, according to provisional data provided by the
Gem & Jewellery Export Promotion Council (GJEPC). By volume, polished
exports fell 39 percent to 3.057 million carats during the month.
- Polished diamond imports dropped 77 percent to $365
million.
- Rough diamond imports fell 37 percent to $522.9 million.
Harry Winston Sales Decline
Harry Winston Diamond Corporation reported that its
consolidated sales fell 20 percent
year on year to $176.9 million during its
second fiscal quarter of 2013 that ended on July 31. The company’s net profit
fell 52 percent to $4.8 million.
The mining segment’s rough diamond sales plunged 31 percent
to $61.5 million due to a
24 percent decrease in the volume of carats sold,
coupled with a 10 percent drop in rough diamond prices, the company stated.
Harry Winston confirmed it had held back rough inventory until price stability
returned to the rough diamond market. The company sold approximately 430,000
carats at an average price of $142 per carat, down from 570,000 carats for $157
per carat one year ago.
Harry Winston held approximately 700,000 carats of rough
diamonds in inventory on
July 31, with an estimated current market value of
approximately $90 million.
Botswana’s diamond exports fell 61 percent year on year to
$260.4 million in July 2012, according to data released by the Bank of Botswana
(BOB). During the first seven months of the year, the country’s diamond exports
declined by 31 percent to $2.28 billion. However, the bank restated Botswana’s
exports for the second quarter to $1.03 billion from $889.5 million as
previously reported.
The bank’s data is a representative sample of the country’s
full diamond trade and is sourced
from the Diamond Trading Company Botswana
(DTCB) Leo Schachter Botswana, Teemane Manufacturing Co. and the Central
Statistics Office (CSO). Botswana’s diamond exports are expected to increase
significantly after De Beers relocated its sorting activities from London
to
Gaborone.
Japan’s polished diamond imports rose 31 percent year on
year to $85.4 million in July, Momozawa reported, citing the Finance Ministry.
By volume, polished imports increased
42 percent to 200,546 carats, while the
average price of the goods declined 8 percent to
$426 per carat.
During the first seven months of the year, Japan’s polished
imports have jumped
21 percent to $525.4 million. However, the volume of
imports declined 2 percent to
1.119 million carats.
Article from the Rapaport Magazine - October 2012. To subscribe click here.