Rapaport Magazine

Economic Bulletin

U.S. Polished Imports Flat 
   The U.S. Department of Commerce reported year-on-year statistics for February:
  • Polished diamond imports were flat at $1.5 billion, up just 0.4 percent, while the price per carat fell 1 percent to $1,706. 
  • Polished diamond exports declined 8 percent to $1.46 billion. 
  • Rough diamond imports slipped 3 percent $29 million.
  • Rough diamonds exports were flat at $22 million.

Israel’s Polished Exports Fall in First Quarter
   Israel’s Ministry of Industry, Trade and Labor released year-on-year figures for the first quarter of 2013:
  • Polished diamond exports fell 8 percent to $1.6 billion.
  • Polished diamond imports declined 13 percent to $962 million. 
  • Rough diamond imports fell 10 percent to $891 million.
  • Rough diamond exports grew 3 percent to $826 million.
  • Israel’s net diamond account, representing total polished and rough exports less total imports, rose 27 percent to $574 million during the quarter.

Belgium’s Polished Exports Fall
   The Antwerp World Diamond Centre (AWDC) released year-on-year diamond statistics for March:
  • Polished diamond exports fell 12 percent to $1.21 billion. By volume, exports fell 6 percent to 614,601 carats and the average price per carat dropped 6 percent to $1,975. 
  • Polished diamond imports declined 3 percent to $1.27 billion.
  • Rough diamond imports fell 13 percent to $1.18 billion.
  • Rough diamond exports dropped 4 percent to $1.41 billion. 

Gem Diamonds’ Sales Drop
   In its interim statement for the period January 1 to April 23, 2013, Gem Diamonds reported:
  • Rough diamond sales fell 20 percent year on year to $46.7 million
  • Rough diamonds sold from its Letseng mine declined 2 percent to 29,205 carats.
  • The average price per carat from three tenders fell 19 percent to $1,599. 
  • Production fell 33 percent year on year to 18,775 carats.

Japan’s Polished Imports Plummet
   Japan’s polished diamond imports fell 24 percent year on year to $53.6 million in February, Momozawa reported, citing the Finance Ministry.
  • By volume, polished imports grew 10 percent to 149,219 carats.
  • The average price dropped 31 percent to $359 per carat.

Dominion Diamond’s Sales Up
   Dominion Diamond Corporation, formerly the Harry Winston Diamond Corporation, reported year-over-year fourth-quarter and year-end results for the period that ended on January 31, 2013.
For the fourth quarter:
  • Consolidated sales from continuing operations rose 8 percent year on year to $110.1 million. The increase in sales resulted from an 11 percent increase in rough diamond prices.
  • Consolidated net profit dropped 10 percent to $14.9 million.
For the fiscal year:
  • Consolidated sales from continuing operations increased 19 percent to $345.4 million, compared to $290.1 million in 2012.
  • The increase in sales resulted from a 49 percent increase in volume sold during the year, offset by a 20 percent decrease in rough diamond prices.
  • Consolidated net profit rose 36 percent to $34.7 million during the year. 
In other company news:
  • Production at the Diavik mine in Canada rose 21 percent year on year to 1.9 million carats during the first quarter, which ended on March 31. The company owns a 40 percent share in the Diavik mine, with Rio Tinto holding the remaining 60 percent. They anticipate that Diavik will produce approximately 6 million carats in calendar 2013, up almost 40 percent from 2012.

Rio Tinto Output Falls
   Rio Tinto’s diamond production fell 4 percent year on year to 3.24 million carats for the first quarter that ended on March 31, 2013.
  • The Argyle mine in Australia produced 1.99 million carats, a decline of 15 percent.
  • Rio Tinto’s share of diamond production at Diaivk surged 21 percent to 1.2 million carats. 
  • Production at the Murowa mine in Zimbabwe improved by 20 percent to 79,000 carats.
  • For calendar year 2013, 14.8 million carats are forecasted for a 13 percent increase over 2012.

Article from the Rapaport Magazine - May 2013. To subscribe click here.

Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
© Copyright 1978-2022 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.