Weekly Digest: Chinese New Year diamond sales, a new president for AWDC and a UK delegation
Sales spikes during Chinese New Year, a quick look at what’s happening in the Indian market and an exciting collaboration with the UK’s National Association of Jewellers all feature in this week’s round-up of headlines from the international diamond and diamond jewellery industries.
Diamond jewellery sales improve during Chinese New Year
Diamond jewellery sales picked up during Chinese New Year in February, Rapaport reported.
Suppliers noted positive holiday orders and continued firm prices for polished diamonds in the run-up to the annual March Hong Kong show.
Chinese New Year.
In other news, the Indian polished diamond market is acting cautiously following a major bank fraud claim against Nirav Modi and Gitanjali Gems, Rapaport said. Indian diamond dealers are now said to be focusing on the United States and China.
Related News: Demand for coloured gems on the rise in 2018
Elsewhere, Reuven Kaufman has been re-elected as President of the Diamond Dealers Club (DDC) of New York, trade media reported.
AWDC Board appoints new President
The Antwerp World Diamond Centre (AWDC), the industry organisation representing the interests of 1,600 diamond companies in Antwerp, has appointed Nishit (Bali) Parikh as its new President, replacing outgoing President Stéphane Fischler.
The Board of Directors also appointed Freddy Inzlicht and Samir Mehta as Vice-Presidents, respectively representing the bourses and the trade.
Stéphane Fischler has been a steady and guiding presence at AWDC for the past 11 years, serving first as its Vice President and then, since 2012, as its President, the AWDC said in a statement.
After more than five years as President, Fischler will now hand the torch back to Nishit (Bali) Parikh, former AWDC President (2010-2012) and CEO of one of the world's leading diamond companies, Diarough.
UK’s National Association of Jewellers to lead visit to CARAT+
Members of the UK’s National Association of Jewellers (NAJ) are being invited to register their interest in a trip to CARAT+.
CARAT+ is offering CARAT+ Club status to a small delegation of 20 NAJ members, plus an invitation to CARAT+ Night with iconic British actress and model, Elizabeth Hurley. Also on offer is an optional tour conducted by leading diamond grading facility, HRD Antwerp on Monday, May 7.
NAJ Logo United Kingdom.
“What an amazing opportunity to source unique stones and see special diamonds; I’m sure CARAT+ will put on a very interesting, educational and profitable show for visiting members,” NAJ Industry Ambassador, Lindsey Straughton said.
Exhibitors taking part in CARAT+ 2018 include Roberto Coin, Paul Wild, Shapiro Gems, Rosy Blue, Kunming Diamonds, Dali Diamond, Venus Jewel, Taché Diamonds and many more.
India’s polished diamond exports surge – Rapaport
Polished-diamond shipments out of India rose sharply in January, Rapaport News reported, quoting data from the nation’s Gem & Jewellery Export Promotion Council (GJEPC).
Polished exports climbed 29 percent year on year to $2.08 billion and, by volume, rose 20 percent to 2.7 million carats. The average price grew 7% to $766 per carat.
Polished imports dropped 21 percent to $136 million, while net polished exports — the excess of exports over imports — surged 35 percent to $1.95 billion.
Rough imports saw a 14 percent increase to $1.44 billion, while rough exports slid 29 percent to $105 million. Net rough imports soared 19% to $1.33 billion.
Words by David Brough
Discover more industry news on the CARAT+ website every week.
CARAT+ is The World’s Premier Diamond Event, covering the full spectrum of the diamond and diamond jewellery trades. The show specialises in four sectors: loose diamonds, branded diamond jewellery, non-branded diamond jewellery and services for the diamond jewellery industry.
Taking place in Hall 1 and Hall 4 of the Antwerp Expo on 6, 7 and 8 May, entry to the show is restricted exclusively to industry professionals, including diamond and jewellery wholesalers and manufacturers from around the world, and jewellery retailers from across Europe and the wider world.