Bryus Kliver (Bruce Cleaver), CEO of the group said in an annual report Anglo American for 2016, that the extent of global demand growth will depend on a number of macroeconomic factors, including a new administration in the United States, a stronger dollar and its impact on consumer demand, economic indicators in China, India and the demonetization of mood after the main season in retail sales in the US and China.
"In 2016, stocks of products in the diamond cutting segment returned to a more typical level, and now in 2017 the diamond raw material consumption can be normalized, reflecting high consumer and retailer demand, - he said -. Manufacturers continue to get rid of stocks of products, and our forecast for production diamonds in 2017 (for the De Beers group of companies) is in the range of 31-33 million carats at a suitable trading conditions ".
Cleaver said that during the 2016 diamond cutters stocks have declined as sentiment improved in this segment. Also stones stocks were normalized with the support of a number of initiatives introduced De Beers since the second half of 2015.
According to Cleaver, among these initiatives - a decline of commodity prices, providing greater flexibility to sightholders, as well as an increase in marketing activity to stimulate consumer demand.
Mining De Beers rough diamonds fell by 5% in 2016 and amounted to 27.3 million carats against 28.7 million carats a year earlier, reflecting the adopted in 2015 a decision to cut production due to the existing terms of trade.
However, the total income of the company increased by 30% to $ 6.1 billion versus $ 4.7 billion in 2015, due to growth in sales of rough diamonds, which increased by 37% to $ 5.6 billion.
This, according to Cleaver explained 50 -protsentnym increase in consolidated sales to 30.0 million carats from 19.9 million carats in 2015. Meanwhile, this increase was partially offset by a decrease in diamond prices by 10% - from $ 207 per carat to $ 187 per carat.
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After a series of defaults that rocked the Indian diamond industry since January 2016, the total amount of which in Mumbai and Surat exceeded $ 60 million, authorities called diamanters actively follow the rules for identification of customers to reduce the risk of defaults on loans.
Recently merchant diamonds from Surat, which operated on the market in the last 15 years, disappeared without paying the required funds in the amount of $ 1.20 million, 35 traders.
City police decided to help diamantaires promised to deal with the case of default as soon as possible. Police appealed to diamantaires and diamond manufacturers with a proposal to identify customers and maintain their personal and financial reports.
Regional Chairman to promote the export of precious stones and jewelry Council (Gem & Jewellery Export Promotion Council, GJEPC) Dinesh Nawada (Dinesh Navadiya) said: "We call on the diamond dealers and diamond manufacturers actively use customer identity in transactions with precious stones."
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