Weekly Digest: Optimistic 2018 outlook, GIA in Antwerp, GJEPC welcomes new Executive Director
In a new series of weekly reports, CARAT+ rounds-up the biggest news headlines from the international diamond and diamond jewellery industries. This week, optimistic figures from Rapaport and IDEX suggest more good things to come in 2018.
Rapaport sees upbeat diamond market outlook in 2018
The diamond market is optimistic for 2018 after a good holiday season, Rapaport has reported. Polished prices were supported by shortages of select goods as manufacturing stayed below capacity. The 1 ct. RAPI index was down 5.3% in 2017, with a 0.3% increase in December as a difficult year ended on a positive note.
Strong rough diamond demand is expected when miners Alrosa and De Beers resume sales later in January. Rapaport also noted a positive outlook for Chinese New Year (February 16), with high-end consumer confidence boosted by the recent stock market rally.
GIA to open laboratory in Surat in 2018
GIA will open a new laboratory in Surat, India and expand its long-term presence in Antwerp, Belgium in the second quarter of 2018. It is understood that GIA has secured premises for both locations.
GIA Executive Vice President and Chief Laboratory and Research Officer, Tom Moses, commented: “Expanding our facility in Antwerp and opening a new location in Surat continues GIA’s mission-driven effort to bring our research-based laboratory services for diamonds, coloured stones and pearls ever closer to our clients.”
The new laboratory in Surat will offer diamond manufacturers based there direct local access to GIA’s laboratory services, including the GIA Melee Analysis Service, a high volume automated service to separate natural diamond from synthetic diamond and simulant melee, sorting the natural stones by colour range.
Ruchita Sharma joins GJEPC as Executive Director, Marketing & Publicity
Ruchita Sharma has joined India’s Gem & Jewellery Export Promotion Council as Executive Director, Promotions, Marketing and Business Development. She has over 20 years of experience spread across marketing, operations and communications.
“Robust promotion and marketing is vital for the growth of the Indian gem and jewellery export sector,” Sharma said. Sharma has worked closely with family run organisations such as Swarovski, Salvatore Ferragamo, Oberoi Hotels and Resorts, and Taj Hotels Palaces and Resorts.
IDEX highlights slight rise in polished diamond prices in December
The IDEX polished diamond price index rose slightly in December 2017 following a flat performance in November. The Index began December at 120.02 and ended the month at 120.90, IDEX reported.
Sentiment was generally positive in the global diamond centres, with diamantaires now looking forward to Chinese New Year (February 16) sales period. Sales were especially strong in the United States, the largest diamond jewellery market in the world.
Mastercard SpendingPulse reported that holiday jewellery sales in the November-December period jumped 5.9 percent on the year, boosted by late sales.
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, 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.