India’s rough diamond imports fall sharply

Import of rough diamonds fell 15.54% in the first 10 months of this financial year, according to the Gem & Jewellery Export Promotion Council (GJEPC).

Industry executives anticipate a further fall of 10-15% in February and March, as manufacturers are not keen to build up inventory in the wake of coronavirus outbreak which has affected demand in the major markets of Hong Kong, mainland China and the Far East.

Meanwhile, Russia’s diamond miner Alrosa has granted flexibility  

to India’s authorised bulk purchasers of rough diamonds to buy 55% of the contracted volume so that their inventory does not pile up. “The US-China trade war has impacted exports, which in turn has brought down imports of rough diamonds.

Slow demand in the world market has resulted in piling up inventories in FY20,” Colin Shah, vice-chairman, GJEPC, told ET. “Manufacturers wanted to clear their inventories first, before fres ..

fresh stocking. During the Christmas and New Year, there was good demand from the US and Europe and we were able to offload quite a substantial portion of our inventories.”

International agency Rapaport said in its recent report that the recent influx of rough diamonds in the market, coupled with the weakened outlook for China, had raised concerns that the trade would return to an oversupply of rough diamonds.

De Beers reported a 9% year-on-year increase in sales to $545

million in January, owing to firmer prices on select boxes of commercial-quality diamonds.

It said that mining companies were holding large quantities of rough diamonds which they could not sell in 2019. Production of rough diamonds is projected to decrease about 6% this year, although mining companies have enough inventory to offset the decline.

Source: DCLA

India’s rough diamond imports fall sharply

Import of rough diamonds fell 15.54% in the first 10 months of this financial year, according to the Gem & Jewellery Export Promotion Council (GJEPC).

Industry executives anticipate a further fall of 10-15% in February and March, as manufacturers are not keen to build up inventory in the wake of coronavirus outbreak which has affected demand in the major markets of Hong Kong, mainland China and the Far East.

Meanwhile, Russia’s diamond miner Alrosa has granted flexibility  

to India’s authorised bulk purchasers of rough diamonds to buy 55% of the contracted volume so that their inventory does not pile up. “The US-China trade war has impacted exports, which in turn has brought down imports of rough diamonds.

Slow demand in the world market has resulted in piling up inventories in FY20,” Colin Shah, vice-chairman, GJEPC, told ET. “Manufacturers wanted to clear their inventories first, before fres ..

fresh stocking. During the Christmas and New Year, there was good demand from the US and Europe and we were able to offload quite a substantial portion of our inventories.”

International agency Rapaport said in its recent report that the recent influx of rough diamonds in the market, coupled with the weakened outlook for China, had raised concerns that the trade would return to an oversupply of rough diamonds.

De Beers reported a 9% year-on-year increase in sales to $545

million in January, owing to firmer prices on select boxes of commercial-quality diamonds.

It said that mining companies were holding large quantities of rough diamonds which they could not sell in 2019. Production of rough diamonds is projected to decrease about 6% this year, although mining companies have enough inventory to offset the decline.

Source: DCLA

Insuring Your Certified Diamonds Is A No-brainer

Your diamonds are possibly the most valuable item you own. Valuable not just in monetary terms, but because of their sentimental value. It might be your engagement ring, a wedding ring, a pendant gifted by a grandparent or even your favourite set of earrings. These items come with a strong emotional attachment and it can be devastating when they are lost, stolen or damaged.

So, you’d be amazed at the statistics – 40% of diamond owners don’t insure their pieces. They then get incredibly angry at themselves when it’s too late and they’ve lost their special piece for whatever reason. Within this group, one-third consider their engagement ring to be one of the most expensive items they own among other investments like their home and vehicle. Yet they insure their house and vehicle every year, but neglect to consider their diamonds.

The alarming part is how often people find themselves in situations where their diamonds are at risk. The statistics are an eye-opener and should serve as a reminder if you haven’t yet insured your diamonds properly.

In 2015, Australia had the fifth highest rate of burglaries in the world. In 2017, there were 225,900 recorded burglaries in Australia – one every three minutes. Add to this a 2010 study that showed jewellery was the third most common item stolen in a home burglary, behind laptops and cash – and you would have to agree it’s not worth the risk. Theft is more common than you think and no one is exempt from such bad luck.

It’s also important to remember that your diamonds are vulnerable and are susceptible to damage. There are three different classifications a gemologist uses when assessing stones to determine their durability:

Hardness
Toughness
Stability

Hardness is assessed by how easily the diamond can scratch. Toughness is judged by how well the diamond can stand up to breakage or chipping. Stability is measured according to how well the diamond can stand up to thermal changes. It’s worthwhile finding out how vulnerable your diamonds are, or at least keep in mind they’re not invincible.

And of course, there’s the risk that you could lose your special piece. Everyone assumes it will not happen to them, but that is optimistic and you can never be 100% sure of this – at home, or while you’re on holidays.

Some insurance gets murky when you’re out of the country and holidaying overseas. You believe you’re protected until you fly to Bali or Hawaii and suddenly you’ve been robbed or left something in the hotel room and your special piece isn’t covered.

With Certified Diamond Insurance, you can trust you are covered the moment you walk out of the jewellery shop. Just as importantly, you’re free to have your piece repaired or replaced at your chosen jeweller – and we guarantee your replacement will be the same if not better than the original piece. You’ll pay no excess if you ever need to claim, and you’re covered worldwide and at home. Which means whenever and wherever you need to travel, your diamonds are safe.

Don’t make the mistake of assuming it will never happen to you. Cover yourself, protect your diamonds properly, and relieve the stress should anything ever happen.

Source: CDI Diamond jewellery insurance 

Insuring Your Certified Diamonds Is A No-brainer

Your diamonds are possibly the most valuable item you own. Valuable not just in monetary terms, but because of their sentimental value. It might be your engagement ring, a wedding ring, a pendant gifted by a grandparent or even your favourite set of earrings. These items come with a strong emotional attachment and it can be devastating when they are lost, stolen or damaged.

So, you’d be amazed at the statistics – 40% of diamond owners don’t insure their pieces. They then get incredibly angry at themselves when it’s too late and they’ve lost their special piece for whatever reason. Within this group, one-third consider their engagement ring to be one of the most expensive items they own among other investments like their home and vehicle. Yet they insure their house and vehicle every year, but neglect to consider their diamonds.

The alarming part is how often people find themselves in situations where their diamonds are at risk. The statistics are an eye-opener and should serve as a reminder if you haven’t yet insured your diamonds properly.

In 2015, Australia had the fifth highest rate of burglaries in the world. In 2017, there were 225,900 recorded burglaries in Australia – one every three minutes. Add to this a 2010 study that showed jewellery was the third most common item stolen in a home burglary, behind laptops and cash – and you would have to agree it’s not worth the risk. Theft is more common than you think and no one is exempt from such bad luck.

It’s also important to remember that your diamonds are vulnerable and are susceptible to damage. There are three different classifications a gemologist uses when assessing stones to determine their durability:

Hardness
Toughness
Stability

Hardness is assessed by how easily the diamond can scratch. Toughness is judged by how well the diamond can stand up to breakage or chipping. Stability is measured according to how well the diamond can stand up to thermal changes. It’s worthwhile finding out how vulnerable your diamonds are, or at least keep in mind they’re not invincible.

And of course, there’s the risk that you could lose your special piece. Everyone assumes it will not happen to them, but that is optimistic and you can never be 100% sure of this – at home, or while you’re on holidays.

Some insurance gets murky when you’re out of the country and holidaying overseas. You believe you’re protected until you fly to Bali or Hawaii and suddenly you’ve been robbed or left something in the hotel room and your special piece isn’t covered.

With Certified Diamond Insurance, you can trust you are covered the moment you walk out of the jewellery shop. Just as importantly, you’re free to have your piece repaired or replaced at your chosen jeweller – and we guarantee your replacement will be the same if not better than the original piece. You’ll pay no excess if you ever need to claim, and you’re covered worldwide and at home. Which means whenever and wherever you need to travel, your diamonds are safe.

Don’t make the mistake of assuming it will never happen to you. Cover yourself, protect your diamonds properly, and relieve the stress should anything ever happen.

Source: CDI Diamond jewellery insurance 

Gem experts offer cheaper insurance policies for diamond rings | 7NEWS

Gem experts offer cheaper insurance policies for diamond rings | VIDEO 7NEWS

Certified Diamond Insurance CDI combines superior knowledge in the insurance and diamond industries to create a market leading product that will provide you with the right cover at the right price.

Gem experts offer cheaper insurance policies for diamond rings | 7NEWS

Gem experts offer cheaper insurance policies for diamond rings | VIDEO 7NEWS

Certified Diamond Insurance CDI combines superior knowledge in the insurance and diamond industries to create a market leading product that will provide you with the right cover at the right price.

De Beers Scores Partial CVD Patent Victory

 A court has awarded a limited victory to De Beers’ synthetic-diamond production unit in a patent dispute with Singapore-based grower IIa Technologies.

IIa infringed an Element Six patent related to diamond material that’s usable for lab-grown diamond jewelry and industrial applications, according to a High Court of Singapore judgment Friday. However, another Element Six patent for post-growth color treatment is invalid, judge Valerie Thean also ruled.

“We will continue to be vigilant for any other potential infringement of our [intellectual-property] rights around the globe,” Element Six CEO Walter Hühn said in a statement Friday. “We will defend our rights vigorously — just as any company would — because protecting our ability to get a full return on our investment in [research and development] is vital to our future.”

UK-based Element Six produces synthetic diamonds for De Beers’ lab-grown jewelry brand, Lightbox, and supplies diamond material for industrial and technological uses. The patent it successfully defended, SG 872, was relevant to optical applications such as infrared spectroscopy and high-power laser optics, as well as to the creation of stones for jewelry, De Beers explained.

IIa, which grows CVD goods for distributor and sister company Pure Grown Diamonds (PGD), must stop making, using, importing or maintaining possession of products that infringe patent SG 872, Thean ordered. She also called for the cancellation of Element Six’s patent SG 508, which relates to the annealing of chemical vapor deposition (CVD) diamonds.

“IIa Technologies has developed its proprietary process in the last 15 years, and is proud of the work we have done to bring lab-grown diamonds to the world,” Vishal Mehta, IIa’s CEO, said in a separate statement. “The current judgment will be considered in its entirety, and then the company will take necessary steps to protect its interests.”

The lawsuit, which Element Six filed in 2016, comes amid heightened patent-related legal activity in the synthetic-diamond sector. Last month, WD Lab Grown Diamonds sued six companies — including IIa and PGD — accusing them of infringing its patents for synthesis and treatment.

Source: DCLA