As demand remained stable and product supply was limited, the price of diamonds in the United States soared. Jewelry sales in the United States remain strong, but global diamond mining and cutting are low compared to pre-pandemic levels, mainly due to pandemic restrictions in India. When the Indian processing plant resumes full operations, it should help increase the supply of the global diamond market and limit the rise in product prices. The resurgence of U.S. tourism activity may lead to a decline in demand for jewelry and limit price growth.
Los Angeles, California, November 10, 2021 (GLOBE NEWSWIRE) - According to a new report released by IndexBox, US diamond prices continue to rise due to supply shortages. Fairfield County Diamonds stated that in September 2021, diamond prices rose 0.9% from August 2021. The average price per carat of all diamonds was US$11,139.53, up from US$11,039.49 a month ago.
The driving factor for the price increase is the strong demand for jewelry in the United States and China, and because diamond mining and cutting are still sluggish, supply is limited. In the first quarter, due to the suspension of production at the Ekati diamond mine in Canada, the closure of the Argyle mine in Australia, and reduced activity by other large mining companies, global rough diamond production fell by 22% to 24 million carats.
The demand for jewelry in the United States remains strong. According to a report by MasterCard "Spending Pulse", US jewelry sales in July 2021 increased by 82.6% compared to the same period in 2020, and increased by 54.2% compared to July 2019.
The financial gains of global gem producers indicate a high demand for diamonds. The sales of rough diamonds from De Beers Group, the world's leading diamond supplier to the jewelry industry, reached $3.5B in 2021, surpassing sales in 2020 ($2.8B). In the first half of 2021, Russian diamond producer Alrosa's rough diamond sales were 15.5 million carats, an increase of 65% over the previous year and an increase of 47% over the first quarter of 2019.
With the rapid increase in Covid-19 cases, India has imposed quarantine restrictions, resulting in a drop in factory utilization to 50-70%, an outflow of migrant workers, and a reduction in diamond cutting and polishing operations. As the incidence rate has declined since mid-2021, India’s diamond exports have resumed operations and increased. According to data from the Gem and Jewelry Export Promotion Council (GJEPC), the total diamond exports in July 2021 were $2.26B, an increase of 146% over the previous year.
The restoration of the supply of large cut diamonds from India should help limit the rise in product prices. Another factor in the mid-term price decline is the gradual recovery of tourism activities, which will help household expenditures shift from the jewelry industry to the tourism and entertainment industries.
In 2020, approximately global non-industrial diamond production will be 74 million carats, a decrease of -10.6% from the previous year.
The countries with the highest non-industrial diamond production in 2020 are Russia (24 million carats), Canada (17 million carats) and Botswana (13 million carats), which together account for 65% of global production. Angola, South Africa, Congo and Namibia are slightly behind, accounting for 35% in total.
In 2020, among the major producing countries, the most significant growth rate of non-industrial diamond production is in Congo, while the production of non-industrial diamonds in other global leading countries will experience a decline.
The world's largest non-industrial diamond importer
IndexBox estimates that in terms of value, non-industrial diamond imports fell from US$108.2B in 2019 to US$67.9B in 2020.
China ($5.9B) is the world's largest non-industrial diamond import market, accounting for 8.8% of global imports. Ranked second is Thailand ($1.3B), which accounts for 1.9% of global imports.
In 2020, the value of China's imports fell by -24.3% year-on-year.
The world's largest non-industrial diamond exporter
In terms of value, Belgium ($8.2B) remains the world's largest supplier of non-industrial diamonds, accounting for 13% of global exports. The second place is China ($1.1B), which accounts for 1.8% of global exports.
In 2020, the average annual growth rate of Belgian values totals -29.5%. In other countries, the average annual interest rates are as follows: China (-34.3% per year) and Thailand (-33.6% per year).
IndexBox is a market research company that has developed an artificial intelligence-driven market intelligence platform to help business analysts find feasible insights and make data-driven decisions. The platform provides data on consumption, production, trade, and prices of more than 10,000 different products in 200 countries/regions.
For more information, please visit the website https://www.indexbox.io Twitter https://twitter.com/indexbox
Companies mentioned in the report
De Beers Group, Alrosa, Rio-Tinto Diamonds, Debswana Diamond Company Ltd., Arctic Canadian Diamond Company Ltd, Lucara Diamond Corp., Petra Diamonds Ltd, Gem Diamonds, Anglo American plc, Rockwell Diamonds, LVMH – Moët Hennessy Louis Vuitton, Tiffany & Co., Bvlgari, Pandora Jewellers, Graff, Cartier, Chopard, Van Cleef & Arpels, Buccellati, Chow Tai Fook, Rajesh Exports, Signet, Chanel.
The World-Non-Industrial Diamonds-Market Analysis, Forecasts, Scale, Trends and Insights
The World-Jewelry-Market Analysis, Forecast, Scale, Trends and Insights
World-Diamonds (Industrial)-Market Analysis, Forecast, Scale, Trend and Insight
World-Imitation Jewelry-Market Analysis, Forecast, Scale, Trend and Insight
World-Watches-Market analysis, forecasts, scale, trends and insights
When you buy and hold stocks for a long time, you definitely want it to provide positive returns. Even better, you will...
This week, Clearwater River Dene Nation (CRDN) issued a notice to the uranium industry and the governments of Canada and Saskatchewan, stating that the community is concerned about the increasing number of uranium mining and beneficiation projects and ongoing exploration activities. The potential impact and risk expressed serious concern. In its traditional territory.
Inflation is at a 31-year high. But these Mad Money mega trends can help you fight back.
Paysafe's (NYSE: PSFE) stock plummeted Thursday after the payment platform released sales and profit forecasts that were far below investors' expectations. As of 2:15 pm Eastern Time, Paysafe's share price has fallen by more than 40%. Paysafe's revenue fell 1% year-on-year to $353.6 million.
(Bloomberg)-Even after the blockbuster IP0 of rival electric car manufacturers, Elon Musk is not completely optimistic about the prospects of Rivian Motors. Post-apocalyptic food crisis Greece’s popular islands are overcrowded-Plastic Hong Kong's new museum is trying to please the art world-The CEO of Beijing Tesla says he hopes Rivian will increase productivity and
Rivian, another electric startup, roared into the market with no sales but a higher valuation than Ford and General Motors.
The share prices of the three hottest stocks last year have fallen 49% to 57% from their recent highs. Let's go shopping together.
Rivian's debut on the public market allowed investors to buy shares of other electric vehicle industry start-ups.
Every stock has a background story, which provides hints and clues for future development. Smart investors will understand which clues or signals are most beneficial to the stock. These are to be followed. One kind of sound signal is insider buying. These insiders are company executives; they hold highly trusted and responsible positions in the company and are responsible to shareholders and the board of directors for the company's success and profits-they have a deep understanding of the company's internal operations and plans. exist
In this article, we will discuss the cheapest stocks in Warren Buffett's 13F portfolio. You can skip our detailed analysis of this billionaire hedge fund and go straight to Berkshire Hathaway's stock portfolio: 5 cheapest stocks. Warren Buffett currently serves as chairman and chief executive officer of Berkshire Hathaway, his hedge fund. [...]
Riot Blockchain Inc. (NASDAQ: RIOT) stock price rose on Thursday, after cryptocurrency mining stocks may have risen because Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are both rising today. "Investor Business Daily" also added the stock to its watch list. Riot Blockchain closed up 8.3% to 39.53 US dollars. Riot's daily chart analysis of the blockchain has been pushing the stock higher and has now reached the resistance level of what technical traders call an ascending triangle pattern. Price level of 40 dollars i
The pharmaceutical company adhered to its earnings guidance for this year because it praised "strong revenue growth and excellent pipeline delivery."
The stock prices of several related stocks are going higher today, which shows that investors are particularly optimistic about the prospects of the electric vehicle industry. Weilai (NYSE: NIO) rose 6.1%. Fisker (NYSE: FSR) rose 15.9%.
Since the end of the Great Recession 12 years ago, growth stocks have been a topic on Wall Street. Historically low lending rates and a loose Fed paved the way for fast-paced companies to borrow at low cost for recruitment, acquisition, and innovation. A report by JPMorgan Chase Asset Management, a subsidiary of JP Morgan Chase, found that the average annual return of companies that initiated and increased dividends between 1972 and 2012 completely exceeded the average annual return of companies that did not pay dividends. -Ten-year span (9.5% vs. 1.6%).
It recently split its management infrastructure business into a company called Kyndryl (NYSE: KD), and removed a non-core business from its balance sheet. In addition, the management promised that the two companies will maintain the current combined dividend.
The company's bottom line fell sharply in the third quarter, failing to meet analyst expectations.
Investors don't have to worry about these stocks. The yields range from slightly higher than 3% to close to 9%, which is a yield trap.
Virgin Galactic (NYSE: SPCE) stock price plummeted on Thursday, falling nearly 5% throughout the trading day. After announcing the third-quarter results earlier this week, analysts made a series of downgrades on the stock of the space travel company. After these results were announced, several analysts quickly revised their views on Virgin Galactic stock.
If the stock price is stable and the implied volatility declines, this kind of iron sculpture transaction on Nvidia stock may get a 35% return.
As of 11:30 am Eastern Time on Thursday, 3D printer manufacturer 3D Systems (NYSE: DDD) shares have plummeted 10.2%. The worse news is that 3D Systems can only blame itself. After the market closed last night, 3D Systems announced that it would provide $350 million worth of "convertible senior notes due in 2026" (ie new debt). If the underwriter exercises its over-allotment option, it could be as high as $402.5 million. Terrified the market. supply.