The U.S. Department of Commerce reported year-on-year statistics for July:- Polished diamond imports surged 22 percent year on year to $2.13 billion. The volume of polished imports increased 7 percent to 1.07 million carats.
- Polished diamond exports jumped 18 percent to $1.45 billion.
- Rough diamond imports skyrocketed 83 percent to $86 million.
- Rough diamond exports fell 19 percent to $17 million.
The Antwerp World Diamond Centre (AWDC) released year-on-year statistics for August:- Polished diamond exports surged 36 percent to $548.1 million. The volume of carats exported fell 1 percent, but the average price per carat jumped 38 percent to $2,112.
- Polished diamond imports increased 18 percent to $895.6 million.
- Rough diamond imports increased 28 percent to $842.2 billion.
- Rough diamond exports jumped 16 percent to $496.4 billion.
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- Polished diamond exports rose 36 percent to $1.93 billion. By volume, polished exports grew 23 percent to 3.770 million carats.
- Polished diamond imports jumped 45 percent to $524.7 million.
- Rough diamond imports increased 32 percent to $681.6 million.
- Rough diamond exports dropped 16 percent to $134.7 million.
Citing data from the Finance Ministry of Japan, Momozawa reported that polished diamond imports fell 7 percent year on year to $79.1 million in July. - By volume, diamond imports increased 2 percent to 203,557 carats.
- The average price of the imports declined 9 percent to $388 per carat.
The Diamond Federation of Hong Kong, China reported year-on-year data for the first half of 2013:- Polished diamond imports increased 5 percent to $8.88 billion.
- Polished diamond exports decreased 4 percent to $5.8 billion.
- Rough diamond imports rose 8 percent to $956 million.
- Rough diamond exports increased 43 percent to $1.39 billion.
ALROSA reported that group revenue for the first half that ended on June 30, 2013 increased 7 percent year on year to $2.55 billion (RUB 82.23 billion). - Profit fell 10 percent to $453 million (RUB 14.62 billion) due to further foreign-exchange losses and higher interest expenses, the company explained.
- Dinnur Galikhanov, an analyst with Aton Equity Research, has maintained a buy rating for ALROSA in the past nine months. However, he expects foreign-exchange losses to have a deeper impact on the company’s bottom line for the full year, estimating that net profit may fall by as much as 30 percent in 2013.
Petra Diamonds reported a profit of $27.9 million in the fiscal year that ended on June 30, 2013, compared with a loss of $2.1 million one year ago.- Revenue rose 27 percent year on year to $402.7 million and production increased 21 percent to 2.668 million carats, boosted by the first full-year production at the Finsch mine after it was acquired from De Beers.
Article from the Rapaport Magazine - October 2013. To subscribe click here.