The U.S. Department of Commerce reported year-on-year statistics for June:- Polished diamond imports fell 4 percent to $1.56 billion, while the average price dropped 5 percent to $1,661 per carat.
- Polished diamond exports surged 13 percent to $2.57 billion, which was a record high.
- Rough diamond imports plunged 62 percent to $20 million.
- Rough diamond exports fell 4 percent to $27 million.
- Polished diamond imports for the first half of 2013 rose 11 percent to $11.59 billion, while polished diamond exports jumped 13 percent to $10.11 billion. Rough diamond imports decreased by 17 percent to $212 million and rough diamond exports plunged 24 percent to $137 million.
The Antwerp World Diamond Centre (AWDC) released year-on-year statistics for July:- Polished diamond exports rose 6 percent to $1.32 billion. By volume, 696,685 carats were exported, a drop of less than 1 percent from one year ago.
- Polished diamond imports were basically flat at $940.4 million.
- Rough diamond imports surged 30 percent to $1.02 billion.
- Rough diamond exports jumped 26 percent to $1.54 billion.
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- Polished diamond exports rose 51 percent to $1.56 billion. By volume, polished exports grew 4 percent to 3.081 million carats.
- Polished diamond imports jumped 86 percent to $548.9 million.
- Rough diamond imports increased 39 percent to $1.68 billion.
- Rough diamond exports rose by 70 percent to $140.7 million.
Citing data from the Finance Ministry of Japan, Monozawa reported that polished diamond imports fell 18 percent year on year to $74.6 million in June. - By volume, polished diamond imports grew 28 percent to 243,497 carats.
- The average price of the goods dropped 36 percent to $306 per carat.
Petra Diamonds’ revenue rose 27 percent year on year to $402.7 million in the fiscal year that ended on June 30, 2013. - Growth was driven by a production increase of 21 percent to 2.668 million carats, mainly due to the Finsch mine’s full year of production following its acquisition from De Beers during the previous fiscal year.
- The company expects production to increase to about 3 million carats in fiscal 2014 and stated that it is on track to achieve 5 million carats by fiscal 2019. Production growth will be spurred by expansion projects currently underway at its Finsch, Cullinan and Koffiefontein mines in South Africa.
Gem Diamonds Limited reported that revenue fell 21 percent year on year to $96.5 million for the first half that ended on June 30, 2013. Profit slumped 40 percent to $8.6 million. The company attributed the decline to a focus on lower grade, lower value ore as new equipment was installed. - Sales from the Letšeng mine in Lesotho were $81.9 million in the first half of 2013, which was 35 percent below sales reported a year earlier.
- The average price of Letšeng goods dropped 18 percent year on year. The company sold 47,065 carats for an average $1,741 per carat during the period, compared to 58,725 carats selling for $125.2 per carat reported for the first quarter of 2012.
- The company revised its production guidance for the full year projecting that it will recover between 95,000 carats and 105,000 carats, down from its previous forecast of 115,000 carats to 130,000 carats. The company revised its sales volume forecast by similar margins.
Lucara Diamond Corporation reported revenue of $47.2 million for the second quarter of fiscal 2013 that ended on June 30, 2013. The company began selling rough diamonds in the third quarter of fiscal year 2012. - Lucara sold 89,619 carats at an average price of $527 per carat.
- Profit totaled $22.7 million compared with a loss of $7.6 million one year ago.
Article from the Rapaport Magazine - September 2013. To subscribe click here.