New Alrosa Client List Excludes Leviev Firm

Alrosa has stopped supplying rough diamonds to Lev Leviev’s LLD Diamonds through its contract-sales arrangement, as part of a reshuffle of the miner’s long-term client list.

The tycoon’s Israel-based firm is one of “several” former customers that have dropped off the 2019 supply roster, known as the Alrosa Alliance program, the Russian company said.

“Last year, there was a decision to exclude LLD from the long-term client list due to noncompliance with Alrosa Alliance principles,” a spokesperson for the Russian producer explained in an email to Rapaport News this week. The Russian company has guidelines that state various possible reasons for suspending a client.

Alrosa has not confirmed the identity of the other companies it removed from the list.

LLD has been under the spotlight since Israeli police arrested several of its employees in November on suspicion of smuggling diamonds worth hundreds of millions of shekels into the country. Alrosa declined to say whether the move was directly related to the probe, while LLD did not respond to a request for comment.

The Alrosa Alliance accounts for about 70% of the miner’s rough sales by volume. It operates a similar arrangement to De Beers’ sightholder system, offering stable supply to companies that can demonstrate demand and comply with its rules on business practices.

Alrosa has expanded its list to 59 long-term buyers of gem-quality rough for 2019, from 56 last year. The six new members were Hong Kong-based jewelry retailer Chow Sang Sang, Indian diamond firms Kapu Gems, Mohit Diamonds, VD Global and M. Suresh Company, and Switzerland-based manufacturer Richold.

“We confirm the inviolability of Alrosa Alliance principles, and are interested in diversifying our client base, which has grown compared to last year,” said Evgeny Agureev, director of Alrosa’s United Selling Organization. While the new customers showed sufficient “trading activity” to warrant gaining long-term supply, “several companies dropped out from the list,” he added.

The miner also accepted two Belgian companies, H.D. Diam and IGC Group, as candidates for potential future long-term contracts. Both firms have previously bought from Alrosa in ad-hoc deals, known as spot transactions.

Last year, Alrosa switched to annual assessments of clients’ rough-diamond allocations, bringing its policy more in line with that of De Beers. Under the old system, Alrosa’s supply deals with clients held for three years.

Source: DCLA

New Alrosa Client List Excludes Leviev Firm

Alrosa has stopped supplying rough diamonds to Lev Leviev’s LLD Diamonds through its contract-sales arrangement, as part of a reshuffle of the miner’s long-term client list.

The tycoon’s Israel-based firm is one of “several” former customers that have dropped off the 2019 supply roster, known as the Alrosa Alliance program, the Russian company said.

“Last year, there was a decision to exclude LLD from the long-term client list due to noncompliance with Alrosa Alliance principles,” a spokesperson for the Russian producer explained in an email to Rapaport News this week. The Russian company has guidelines that state various possible reasons for suspending a client.

Alrosa has not confirmed the identity of the other companies it removed from the list.

LLD has been under the spotlight since Israeli police arrested several of its employees in November on suspicion of smuggling diamonds worth hundreds of millions of shekels into the country. Alrosa declined to say whether the move was directly related to the probe, while LLD did not respond to a request for comment.

The Alrosa Alliance accounts for about 70% of the miner’s rough sales by volume. It operates a similar arrangement to De Beers’ sightholder system, offering stable supply to companies that can demonstrate demand and comply with its rules on business practices.

Alrosa has expanded its list to 59 long-term buyers of gem-quality rough for 2019, from 56 last year. The six new members were Hong Kong-based jewelry retailer Chow Sang Sang, Indian diamond firms Kapu Gems, Mohit Diamonds, VD Global and M. Suresh Company, and Switzerland-based manufacturer Richold.

“We confirm the inviolability of Alrosa Alliance principles, and are interested in diversifying our client base, which has grown compared to last year,” said Evgeny Agureev, director of Alrosa’s United Selling Organization. While the new customers showed sufficient “trading activity” to warrant gaining long-term supply, “several companies dropped out from the list,” he added.

The miner also accepted two Belgian companies, H.D. Diam and IGC Group, as candidates for potential future long-term contracts. Both firms have previously bought from Alrosa in ad-hoc deals, known as spot transactions.

Last year, Alrosa switched to annual assessments of clients’ rough-diamond allocations, bringing its policy more in line with that of De Beers. Under the old system, Alrosa’s supply deals with clients held for three years.

Source: DCLA

Mouawad Cuts Record Yellow Diamond

Mouawad has manufactured a 54.21 carat polished yellow stone, which, it claims, is the largest of its shape and color the Gemological Institute of America (GIA) has ever graded.

The company named the round brilliant cut, fancy vivid yellow stone the Mouawad Dragon, as its color is reminiscent of a “dragon’s magical powers and fiery eyes,” it said Monday.

The rough stone was found in an alluvial deposit in South Africa, and took Mouawad six months to cut and polish. The jeweler, which manufactures its rough in South Africa, New York and Bangkok, will set the stone in a necklace that will be part of an ensemble.

 The entire collection will be unveiled in March, the company told Rapaport News.

“We’re thrilled to have had the opportunity to craft this extraordinary diamond from the rough, and we will soon continue the creative process by designing a masterpiece that befits its dazzling beauty,” said Fred Mouawad, co guardian of the jeweler’s diamond division.

In August, Mouawad bought the round, 51.38 carat,  D color, VVS1 clarity, triple Ex Dynasty diamond from Alrosa at tender. It was the most expensive polished stone the Russia-based miner had sold.

 The jeweler has renamed the Dynasty originally the centerpiece of a five-stone collection that fetched approximately $10 million combined the Mouawad Dynasty.

 The stone now weighs 51.12 carats and has flawless clarity, Mouawad said. The company will reveal more details about its plans for the stone next month.

Source: DCLA

Mouawad Cuts Record Yellow Diamond

Mouawad has manufactured a 54.21 carat polished yellow stone, which, it claims, is the largest of its shape and color the Gemological Institute of America (GIA) has ever graded.

The company named the round brilliant cut, fancy vivid yellow stone the Mouawad Dragon, as its color is reminiscent of a “dragon’s magical powers and fiery eyes,” it said Monday.

The rough stone was found in an alluvial deposit in South Africa, and took Mouawad six months to cut and polish. The jeweler, which manufactures its rough in South Africa, New York and Bangkok, will set the stone in a necklace that will be part of an ensemble.

 The entire collection will be unveiled in March, the company told Rapaport News.

“We’re thrilled to have had the opportunity to craft this extraordinary diamond from the rough, and we will soon continue the creative process by designing a masterpiece that befits its dazzling beauty,” said Fred Mouawad, co guardian of the jeweler’s diamond division.

In August, Mouawad bought the round, 51.38 carat,  D color, VVS1 clarity, triple Ex Dynasty diamond from Alrosa at tender. It was the most expensive polished stone the Russia-based miner had sold.

 The jeweler has renamed the Dynasty originally the centerpiece of a five-stone collection that fetched approximately $10 million combined the Mouawad Dynasty.

 The stone now weighs 51.12 carats and has flawless clarity, Mouawad said. The company will reveal more details about its plans for the stone next month.

Source: DCLA

Lucara recovers 240-ct gem from Karowe

Earlier this month, Lucara Diamond Corp. recovered a 127 carat top white diamond from its Karowe mine. And the good new just keeps coming. This time the company has recovered a 240 carat top white gem from the same mine.

Since mining began in 2012 at Karowe, a total of 43 diamonds heavier than 200 carats have been recovered, including 12 stones larger than 300 carats.

Lucara CEO Eira Thomas commented, “This top white 240 carat gem diamond was mined from the M/PK(S) unit within the South lobe, providing continuing confirmation that large, high quality gem diamonds are recovered throughout the kimberlite, in all lobes and phases on a regular basis.”

Source: DCLA

Lucara recovers 240-ct gem from Karowe

Earlier this month, Lucara Diamond Corp. recovered a 127 carat top white diamond from its Karowe mine. And the good new just keeps coming. This time the company has recovered a 240 carat top white gem from the same mine.

Since mining began in 2012 at Karowe, a total of 43 diamonds heavier than 200 carats have been recovered, including 12 stones larger than 300 carats.

Lucara CEO Eira Thomas commented, “This top white 240 carat gem diamond was mined from the M/PK(S) unit within the South lobe, providing continuing confirmation that large, high quality gem diamonds are recovered throughout the kimberlite, in all lobes and phases on a regular basis.”

Source: DCLA

Petra Diamonds shares fall on lower diamond prices at flagship mine

Shares of Petra Diamonds Ltd slid as much as 10 percent on Monday after lower diamond prices at its flagship Cullinan mine and an increase in net debt took the shine off higher half-year revenue.

The company has been trying to keep a lid on debt after heavy investments and a stronger South African rand had burdened the miner, which pays in rands and earns in dollars.

Petra’s net debt jumped to $557.2 million (422.06 million pounds) in the six months to Dec. 31 from $538.9 million as at Sept. 30. The company was forced to raise $178 million last May by issuing equity to cut its debt burden.

Rough diamond prices fell to $96 per carat from $140 per carat in the previous year at the Cullinan mine, which in 1905 yielded the Cullinan diamond the largest rough gem diamond ever found and now part of the Crown Jewels of the United Kingdom.

“The significantly lower realised Cullinan pricing and the impact on cashflow generation sees us take renewed caution,” said RBC, which cut the miner’s price target to 40 pence from 65 pence after the company’s half-year report.

Petra posted an 8 percent jump in revenue to $207.1 million, about 10 percent below RBC forecasts of $230 million, hurt by lower pricing at Cullinan. The company stuck to its production forecast 3.8 – 4.0 million carats for fiscal 2019.

Shares of the miner, which runs four mines in South Africa and one in Tanzania, were 8.5 percent lower at 41.12 pence.

Source:DCLA

Petra Diamonds shares fall on lower diamond prices at flagship mine

Shares of Petra Diamonds Ltd slid as much as 10 percent on Monday after lower diamond prices at its flagship Cullinan mine and an increase in net debt took the shine off higher half-year revenue.

The company has been trying to keep a lid on debt after heavy investments and a stronger South African rand had burdened the miner, which pays in rands and earns in dollars.

Petra’s net debt jumped to $557.2 million (422.06 million pounds) in the six months to Dec. 31 from $538.9 million as at Sept. 30. The company was forced to raise $178 million last May by issuing equity to cut its debt burden.

Rough diamond prices fell to $96 per carat from $140 per carat in the previous year at the Cullinan mine, which in 1905 yielded the Cullinan diamond the largest rough gem diamond ever found and now part of the Crown Jewels of the United Kingdom.

“The significantly lower realised Cullinan pricing and the impact on cashflow generation sees us take renewed caution,” said RBC, which cut the miner’s price target to 40 pence from 65 pence after the company’s half-year report.

Petra posted an 8 percent jump in revenue to $207.1 million, about 10 percent below RBC forecasts of $230 million, hurt by lower pricing at Cullinan. The company stuck to its production forecast 3.8 – 4.0 million carats for fiscal 2019.

Shares of the miner, which runs four mines in South Africa and one in Tanzania, were 8.5 percent lower at 41.12 pence.

Source:DCLA

2H Slump Dents De Beers Sales Volume

De Beers’ sales volume fell 4% last year due to weakened demand for lower value diamonds in the second half.

The miner sold 33.7 million carats of rough, compared with 35.1 million carats in 2017, as clients bought fewer of its cheaper stones, it reported Thursday.

De Beers’ average price for sales excluding some sales by its joint-venture partners rose 6% to $171 per carat for the year, reflecting the larger proportion of higher-value goods. As a result, rough-sales value increased 2% to $5.39 billion for 2018, according to Rapaport estimates based on De Beers’ sight reports.

The company’s average price index, which tracks its rough prices on a like-for-like basis, declined 1% in the second half, but ended 2018 up 1% versus the previous year.

Production grew 6% to 35.3 million carats, exceeding sales volume.

Sales jumped 21% to 9.9 million carats in the fourth quarter, with revenues also increasing, as the company allowed sightholders to defer purchases from the September sight to later months.

Production grew 12% to 9.1 million carats for the quarter.

Source:DCLA

2H Slump Dents De Beers Sales Volume

De Beers’ sales volume fell 4% last year due to weakened demand for lower value diamonds in the second half.

The miner sold 33.7 million carats of rough, compared with 35.1 million carats in 2017, as clients bought fewer of its cheaper stones, it reported Thursday.

De Beers’ average price for sales excluding some sales by its joint-venture partners rose 6% to $171 per carat for the year, reflecting the larger proportion of higher-value goods. As a result, rough-sales value increased 2% to $5.39 billion for 2018, according to Rapaport estimates based on De Beers’ sight reports.

The company’s average price index, which tracks its rough prices on a like-for-like basis, declined 1% in the second half, but ended 2018 up 1% versus the previous year.

Production grew 6% to 35.3 million carats, exceeding sales volume.

Sales jumped 21% to 9.9 million carats in the fourth quarter, with revenues also increasing, as the company allowed sightholders to defer purchases from the September sight to later months.

Production grew 12% to 9.1 million carats for the quarter.

Source:DCLA

STORNOWAY DIAMONDS MISSES 2018 PRODUCTION GUIDANCE

Canadian diamond miner Stornoway Diamonds has produced 1.32 million carats in the 2018 financial year, missing its guidance of “at least 1.35 million carats” for the year, Mining Weekly reports.

President and CEO Patrick Godin said that 2018 was a “challenging year” for the company, as the ramp-up of underground production of the Renard 2 underground mine was “impacted by delays in equipment deliveries, a competitive labour market and the presence of more-than-expected low-grade mineralisation on the northern margin of the Renard 2 orebody”.

 However, the company’s third and fourth quarter production results “demonstrated significant improvements in grade and carat recoveries”. For 2019, Stornoway expects to produce between 1.8 million and 2.10 million carats.

As for sales, in 2018 Stornoway sold 1.04 million carats for gross proceeds of C$141 million ($106,362,645).

In the fourth quarter, sales amounted to 253,929 carats, netting C$31 million (23,384,695).

Souce: israelidiamond

STORNOWAY DIAMONDS MISSES 2018 PRODUCTION GUIDANCE

Canadian diamond miner Stornoway Diamonds has produced 1.32 million carats in the 2018 financial year, missing its guidance of “at least 1.35 million carats” for the year, Mining Weekly reports.

President and CEO Patrick Godin said that 2018 was a “challenging year” for the company, as the ramp-up of underground production of the Renard 2 underground mine was “impacted by delays in equipment deliveries, a competitive labour market and the presence of more-than-expected low-grade mineralisation on the northern margin of the Renard 2 orebody”.

 However, the company’s third and fourth quarter production results “demonstrated significant improvements in grade and carat recoveries”. For 2019, Stornoway expects to produce between 1.8 million and 2.10 million carats.

As for sales, in 2018 Stornoway sold 1.04 million carats for gross proceeds of C$141 million ($106,362,645).

In the fourth quarter, sales amounted to 253,929 carats, netting C$31 million (23,384,695).

Souce: israelidiamond

China Troubles Dent Luk Fook Sales

Luk Fook’s same store sales dropped 10% in the third fiscal quarter amid economic weakness in greater China.

The depreciation of the Chinese yuan against the Hong Kong dollar led customers to purchase cheaper products in the three months ending December 31, the retailer said Thursday.

Luk Fook, one of Hong Kong’s largest jewelers, derives a significant proportion of its revenue from tourists visiting the municipality from the mainland.

The weakening of the yuan during 2018 reduced the purchasing power of those consumers, causing same store sales at branches open for more than a year to fall 9% year on year in Hong Kong and Macau. Same store sales in mainland China slid 14%.

“The recent market sentiment was adversely impacted by the US China trade war, the depreciation of the yuan , and the downward pressure in the stock and property markets,” the company added.

Same-store gold sales in Hong Kong and Macau dropped 9%, while gem set jewelry purchases fell 8%.

The currency effect led to a double digit decline in the average selling price of gem set products, the jeweler noted.

In China, same store sales of gold products plunged 16%, while sales of gem set jewelry decreased 5% for the period.

Luk Fook’s results are for its self operated stores, and exclude licensed shops, which form the majority of its stores on the mainland.

Source: DCLA

China Troubles Dent Luk Fook Sales

Luk Fook’s same store sales dropped 10% in the third fiscal quarter amid economic weakness in greater China.

The depreciation of the Chinese yuan against the Hong Kong dollar led customers to purchase cheaper products in the three months ending December 31, the retailer said Thursday.

Luk Fook, one of Hong Kong’s largest jewelers, derives a significant proportion of its revenue from tourists visiting the municipality from the mainland.

The weakening of the yuan during 2018 reduced the purchasing power of those consumers, causing same store sales at branches open for more than a year to fall 9% year on year in Hong Kong and Macau. Same store sales in mainland China slid 14%.

“The recent market sentiment was adversely impacted by the US China trade war, the depreciation of the yuan , and the downward pressure in the stock and property markets,” the company added.

Same-store gold sales in Hong Kong and Macau dropped 9%, while gem set jewelry purchases fell 8%.

The currency effect led to a double digit decline in the average selling price of gem set products, the jeweler noted.

In China, same store sales of gold products plunged 16%, while sales of gem set jewelry decreased 5% for the period.

Luk Fook’s results are for its self operated stores, and exclude licensed shops, which form the majority of its stores on the mainland.

Source: DCLA

Kim Kardashian shows off her new grillz

Kim Kardashian has splurged on a new accessory diamonds for her teeth.

The reality star debuted her ‘new grillz’ on Friday posing a picture to her Instagram page.

The image showed a close up of her blindingly white teeth, with the lower teeth all completely covered in tiny diamonds, and her upper teeth baring a tiny cross.

Kim Kardashian shows off her new grillz

Kim Kardashian

The grill looks to be one Kim collected in November, when she posted a photo after getting her mouth molded for the custom design by jewelry designer Dolly Cohen.

Kim’s husband Kanye West is rarely seen without a fancy grill, and the mother of three has added a few of her own to her jewelry collection.

Back in August she unveiled a Kim grill, which spelled out her name on her lower teeth in diamonds.

Source: dailymail

Kim Kardashian shows off her new grillz

Kim Kardashian has splurged on a new accessory diamonds for her teeth.

The reality star debuted her ‘new grillz’ on Friday posing a picture to her Instagram page.

The image showed a close up of her blindingly white teeth, with the lower teeth all completely covered in tiny diamonds, and her upper teeth baring a tiny cross.

Kim Kardashian shows off her new grillz

Kim Kardashian

The grill looks to be one Kim collected in November, when she posted a photo after getting her mouth molded for the custom design by jewelry designer Dolly Cohen.

Kim’s husband Kanye West is rarely seen without a fancy grill, and the mother of three has added a few of her own to her jewelry collection.

Back in August she unveiled a Kim grill, which spelled out her name on her lower teeth in diamonds.

Source: dailymail

Chow Tai Fook Sales Dip on Economic Slowdown

Chow Tai Fook followed a string of major retailers that have noted a slowdown in greater China as the jeweler’s same-store sales fell in the three months that ended December 31.

“A decline in same-store sales was recorded for both mainland China and Hong Kong and Macau markets in the third quarter amid uncertain macroeconomic environment,” the company said in a trading update Monday.

Same-store sales — at locations open for more than a year — dropped 7% year on year in China and 6% in Hong Kong and Macau.

Same-store sales of gold products fell 11% in China and by 6% in Hong Kong and Macau, while gem-set jewelry declined 5% and 8%, respectively.

Other retailers have expressed similar caution about the region, with Cartier owner Richemont noting a slowdown in Hong Kong due to lower tourist spending resulting from a weaker yuan versus the Hong Kong dollar. Tech giants Apple and Alibaba also recently expressed concern about a decline in the region.

Hong Kong’s government this month noted that slower retail growth reflected more cautious consumption sentiment stemming from external uncertainties such as the US-China trade tensions and volatility in global financial markets.

Chow Tai Fook saw lower sales volume but slightly better average prices due to a shift toward higher weights in its gold products, which account for approximately 60% of its total retail revenue.

 The average price of its gem-set jewelry fell 4% to HKD 6,600 ($841) in China and by 3% to HKD 11,500 ($1,466) in Hong Kong and Macau.

The jeweler reported that total retail sales grew 1% in China, boosted by 259 new points of sale that opened in the country during the quarter, while overall sales in other markets slipped 1%.

Source: DCLA

Chow Tai Fook Sales Dip on Economic Slowdown

Chow Tai Fook followed a string of major retailers that have noted a slowdown in greater China as the jeweler’s same-store sales fell in the three months that ended December 31.

“A decline in same-store sales was recorded for both mainland China and Hong Kong and Macau markets in the third quarter amid uncertain macroeconomic environment,” the company said in a trading update Monday.

Same-store sales — at locations open for more than a year — dropped 7% year on year in China and 6% in Hong Kong and Macau.

Same-store sales of gold products fell 11% in China and by 6% in Hong Kong and Macau, while gem-set jewelry declined 5% and 8%, respectively.

Other retailers have expressed similar caution about the region, with Cartier owner Richemont noting a slowdown in Hong Kong due to lower tourist spending resulting from a weaker yuan versus the Hong Kong dollar. Tech giants Apple and Alibaba also recently expressed concern about a decline in the region.

Hong Kong’s government this month noted that slower retail growth reflected more cautious consumption sentiment stemming from external uncertainties such as the US-China trade tensions and volatility in global financial markets.

Chow Tai Fook saw lower sales volume but slightly better average prices due to a shift toward higher weights in its gold products, which account for approximately 60% of its total retail revenue.

 The average price of its gem-set jewelry fell 4% to HKD 6,600 ($841) in China and by 3% to HKD 11,500 ($1,466) in Hong Kong and Macau.

The jeweler reported that total retail sales grew 1% in China, boosted by 259 new points of sale that opened in the country during the quarter, while overall sales in other markets slipped 1%.

Source: DCLA

Angola to host first competitive diamond bid sale

The first competitive bid sale of large and premium quality diamonds from the Lulo diamond mine will take place on January 31, 2019, in the Angolan capital of Luanda.

According to a press release issued by Australia’s Lucapa Diamond, owner of a 40% stake in the prolific mine, the stones for sale will the first diamonds offered in a competitive process under the new diamond marketing policy enacted by President Joao Lourenco and the Angolan Council of Ministers.

The bid is organised in by state owned diamond trading firm SODIAM while the diamonds are being offered by Sociedade Mineira Do Lulo, which holds the alluvial mining licence to the Lulo concession and works in partnership with Lucapa, who has a 35-year license for the project. Empresa Nacional de Diamantes E.P. and Rosas & Petalas, also form part of the partnership.

Seven exceptional Lulo diamonds, including a 46 carat pink and six top colour Type IIa white gems ranging from 114 carats to 43 carats, will be showcased.

“Lulo diamonds have already established a reputation as being among the highest quality gems in the world. Together with our Angolan partners, Lucapa is delighted that SML will now start showcasing these exceptional diamonds to the strong interest shown by the world’s leading diamantaires,” Lucapa Diamond Chief Executive Officer, Stephen Wetherall, said in the media brief.

Lulo, a 3,000 square kilometre concession located in Angola’s diamond rich Lunda Norte region, hosts the world’s highest dollar per carat alluvial diamonds and has produced some of the largest gem-quality rocks in the planet.

Angola is the world’s No.4 diamond producer by value and No.6 by volume.

Source: DCLA

Angola to host first competitive diamond bid sale

The first competitive bid sale of large and premium quality diamonds from the Lulo diamond mine will take place on January 31, 2019, in the Angolan capital of Luanda.

According to a press release issued by Australia’s Lucapa Diamond, owner of a 40% stake in the prolific mine, the stones for sale will the first diamonds offered in a competitive process under the new diamond marketing policy enacted by President Joao Lourenco and the Angolan Council of Ministers.

The bid is organised in by state owned diamond trading firm SODIAM while the diamonds are being offered by Sociedade Mineira Do Lulo, which holds the alluvial mining licence to the Lulo concession and works in partnership with Lucapa, who has a 35-year license for the project. Empresa Nacional de Diamantes E.P. and Rosas & Petalas, also form part of the partnership.

Seven exceptional Lulo diamonds, including a 46 carat pink and six top colour Type IIa white gems ranging from 114 carats to 43 carats, will be showcased.

“Lulo diamonds have already established a reputation as being among the highest quality gems in the world. Together with our Angolan partners, Lucapa is delighted that SML will now start showcasing these exceptional diamonds to the strong interest shown by the world’s leading diamantaires,” Lucapa Diamond Chief Executive Officer, Stephen Wetherall, said in the media brief.

Lulo, a 3,000 square kilometre concession located in Angola’s diamond rich Lunda Norte region, hosts the world’s highest dollar per carat alluvial diamonds and has produced some of the largest gem-quality rocks in the planet.

Angola is the world’s No.4 diamond producer by value and No.6 by volume.

Source: DCLA

ALROSA Sells $4.41B Of Rough Diamonds In 2018

ALROSA reported the sale of $323.7 million of rough in December and $4.41 billion for all of 2018.

ALROSA’s December sales of rough and polished diamonds increased by 38% YoY to $328.7, with polished diamond sales of $5 million.

Meanwhile, its total diamond sales in 2018 grew 6% YoY to $4.51 billion, with polished sales of $95.3 million.

“A 6% sales growth in 2018 was driven by both high demand for rough diamonds and positive price dynamics in the first half of the year, market demand was strong in all rough diamond categories, and traditional slowdown in demand in the second quarter due to seasonality was not registered this year,” said Evgeny Agureev, Member of the Management Board, Director of the United Sales Organization at ALROSA.

“In the second half of the year, buying activity in the low-priced product segment significantly deteriorated due to a weakening of the global market situation and both seasonality and destocking at a number of Indian midstream companies. At the same time, the company was actively engaged in optimizing its stocks, which made it possible to increase sales in physical terms, despite a decline in production in 2018 by 8% to 36.6 million carats.

“In December, sales in value terms increased by 20% compared to November 2018 due to a flexible pricing policy against the background of seasonal renewed demand and replenishment of stocks by the companies in the cutting sector, which took advantage of the pricing environment.

 Despite the cooling of the market in the second half of 2018, we expect that the final customer demand will remain at least stable,” he added.

Source: DCLA

ALROSA Sells $4.41B Of Rough Diamonds In 2018

ALROSA reported the sale of $323.7 million of rough in December and $4.41 billion for all of 2018.

ALROSA’s December sales of rough and polished diamonds increased by 38% YoY to $328.7, with polished diamond sales of $5 million.

Meanwhile, its total diamond sales in 2018 grew 6% YoY to $4.51 billion, with polished sales of $95.3 million.

“A 6% sales growth in 2018 was driven by both high demand for rough diamonds and positive price dynamics in the first half of the year, market demand was strong in all rough diamond categories, and traditional slowdown in demand in the second quarter due to seasonality was not registered this year,” said Evgeny Agureev, Member of the Management Board, Director of the United Sales Organization at ALROSA.

“In the second half of the year, buying activity in the low-priced product segment significantly deteriorated due to a weakening of the global market situation and both seasonality and destocking at a number of Indian midstream companies. At the same time, the company was actively engaged in optimizing its stocks, which made it possible to increase sales in physical terms, despite a decline in production in 2018 by 8% to 36.6 million carats.

“In December, sales in value terms increased by 20% compared to November 2018 due to a flexible pricing policy against the background of seasonal renewed demand and replenishment of stocks by the companies in the cutting sector, which took advantage of the pricing environment.

 Despite the cooling of the market in the second half of 2018, we expect that the final customer demand will remain at least stable,” he added.

Source: DCLA

Hong Kong Luxury Sales See Rare Drop

Retail sales of jewelry and other luxury items in Hong Kong declined for the first time in 17 months as global economic uncertainties impacted consumer sentiment.

Revenues from jewelry, watches, clocks and other valuable gifts dropped 3.9% to HKD 5.88 billion ($750.8 million) in November, the municipality’s Census and Statistics Department reported Thursday.

Sales in all retail categories increased 1.4%, but growth was the slowest in more than 12 months.

“The generally moderated growth in retail sales in recent months reflected more cautious consumption sentiment in the face of various external uncertainties such as the US-mainland trade tensions, and volatilities in the global financial markets,” a government spokesperson said.

Hong Kong-based jewelers Chow Tai Fook and Luk Fook raised concerns in November about the impact of the US-China tariff war and the depreciation of the Chinese yuan on the region’s consumer demand. While proceeds from jewelry and other luxury products jumped 16% to HKD 77.06 billion ($9.84 billion) for the first 11 months of 2018, growth slowed in September and October, according to government figures. The November decline matches Luk Fook’s warning that its same-store sales had dropped in late October and November.

Retail sentiment could suffer further due to a drop in the value of assets consumers own, as well as uncertainty in the global economy, the government added. A positive job market and growth in Hong Kong’s tourist industry — a major source of retail spending in the municipality — should partly support the sector, the spokesperson continued.

Monthly sales of jewelry and other luxury products in the municipality last fell in June 2017, when the market was recovering from a slump in tourism in 2015 and 2016.

Source: Diamonds.net

Hong Kong Luxury Sales See Rare Drop

Retail sales of jewelry and other luxury items in Hong Kong declined for the first time in 17 months as global economic uncertainties impacted consumer sentiment.

Revenues from jewelry, watches, clocks and other valuable gifts dropped 3.9% to HKD 5.88 billion ($750.8 million) in November, the municipality’s Census and Statistics Department reported Thursday.

Sales in all retail categories increased 1.4%, but growth was the slowest in more than 12 months.

“The generally moderated growth in retail sales in recent months reflected more cautious consumption sentiment in the face of various external uncertainties such as the US-mainland trade tensions, and volatilities in the global financial markets,” a government spokesperson said.

Hong Kong-based jewelers Chow Tai Fook and Luk Fook raised concerns in November about the impact of the US-China tariff war and the depreciation of the Chinese yuan on the region’s consumer demand. While proceeds from jewelry and other luxury products jumped 16% to HKD 77.06 billion ($9.84 billion) for the first 11 months of 2018, growth slowed in September and October, according to government figures. The November decline matches Luk Fook’s warning that its same-store sales had dropped in late October and November.

Retail sentiment could suffer further due to a drop in the value of assets consumers own, as well as uncertainty in the global economy, the government added. A positive job market and growth in Hong Kong’s tourist industry — a major source of retail spending in the municipality — should partly support the sector, the spokesperson continued.

Monthly sales of jewelry and other luxury products in the municipality last fell in June 2017, when the market was recovering from a slump in tourism in 2015 and 2016.

Source: Diamonds.net