Alrosa sees weakest performance in years
Alrosa’s sales and production slumped to their lowest levels in over a decade in the second quarter amid unprecedented weak demand for rough diamonds during the coronavirus crisis.
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Pink and blue hearts score big for Sotheby’s
Two fancy-colored, heart-shaped diamonds led the Magnificent Jewels sale at Sotheby’s in Hong Kong, fetching a combined $18.7 million.
Lab-Grown diamonds may develop their own price scale, seller says
Lab-grown diamonds may soon develop their own distinct price scale that differs from that of natural diamonds, Andrey Zharkov, the former chief executive officer of Alrosa who now heads the lab-grown diamond company Ultra C, predicted during a recent webinar.
Richemont’s jewelry sales sink 41% in Q1
Richemont’s first-quarter sales fell by nearly half with double-digit declines across all regions, categories, and distribution channels amid the COVID-19 pandemic.
12-Carat marquise blue diamond sells for $16M at Christie’s
A 12-carat blue diamond proved there’s still demand for colored diamonds when it went for well above its pre-sale high estimate at auction Thursday July 9.
India trade calls for lower import tax
India’s diamond sector has asked the government to reduce import duties for polished, arguing that a lower rate would boost the country’s position as a trading hub.
Jewelers see positive signs as business restarts
As US retailers struggle to pick up the pieces after the coronavirus shutdowns, many are hopeful that a recovery is on its way.
Sarine’s “birth certificates” track Lucara diamonds from mine to store
Tech firm Sarine is to provide “birth certificates” which track the provenance of rough stones being sold by Lucara.
GemFair’s new MOU to advance diamond artisanal mining sector
Press release – GemFair signs MOU for joint delivery of capacity building programme to advance ASM standards in West Africa. Partnering with GIZ and Mano River Union to deliver training on mining standards in Sierra Leone, Liberia, Guinea and Ivory Coast.
Customers prefer jewelry stores—But only safe ones
While most consumers still want to buy diamond jewelry at a physical store, they want to make sure that proper COVID-19 precautions are in place, according to new research from the De Beers Group.
ALROSA amends its trading sessions’ schedule
Press release – ALROSA decided to change dates for its trading sessions in July and August after having reviewed the current market situation.
U.S. retail market will be surpassed by China’s this year
A new study from market research firm eMarketer forecasts that China’s retail market will become the biggest in the world in 2020—surpassing the U.S. retail market, which has been the largest in the world for more than a century.
