First, a self-promotional note: I will be giving a “Diamond Update” at the American Gem Society Conclave in Denver next Friday, April 27, at 3:45 PM, where you can see me make a lot of the same points I make on this blog, just talking really fast in a New York accent. Since I will be at AGS, I won’t be doing much blogging next week, but you never know ….
And now the news … …
– Chaim: Diamdel to restructure, and basically be shut down. Chaim kind of goes back and forth on whether the EC will force the DTC to keep its commitments to the secondary market, but in the end implies it won’t, and that much of the secondary market will soon need to go elsewhere for supplies. Also related: Cuts at De Beers? (Reuters picks up the story.)
-De Beers: Better quality larger goods (two carats and up) will get scarcer.
-GSP non-renewal – it expires in June — still threatens India.
-Arizona conflict diamond smuggling case may be reduced to misdemeanor.
-Fabrikant to auction assets.
–Mom’s Day could be okay; the NRF estimates $2.1 billion will be spent on jewelry.
-Polishedprices round-up of supply and demand. Highlights: Rough supply will keep tightening, rough prices will keep rising (and polished should follow, evenutally), and industry will adjust to non-De Beers centered model.
-De Beers execs getting their American frequent flyer pass: Managing director Gareth Penny speaks at Wharton.
-More talk of a “diamond OPEC.” Didn’t we have that already? For a century?
-They are not giving up: Belgian dealer group still fighting Supplier of Choice with the EC.
-The newest industry trend: Huge robberies at trade shows! First Amberif, now Basel.
-Company wants to bring back Ashford from the ash-heap.
– Synthetic Wisdom.
Well, the weather is (finally!) turning nice here in NYC, and I hope you all have a great weekend …