Sales of jewelry and other luxury goods in Hong Kong in January fell despite the Chinese New Year, which occurred during the reporting period.
Spending on jewelry, watches and valuable gifts decreased by 3.9% compared with the same period last year, to $ 944 million (HKD 7,33 bn) according to the Department of Statistics and Census of Hong Kong.
Chinese New Year fell on January 28, in contrast to February 8 last year, but this potential momentum for the January sales could not lead to higher consumer spending, the data showed. The fall occurred despite the increase in the number of tourists to Hong Kong, which amounted to 4.8% during the reporting month.
The short-term outlook for retailers in Hong Kong will depend on tourism levels and on whether local consumer sentiment deteriorated due to global uncertainty.
Decline in sales of jewelry and expensive gifts should be the growth of consumer purchases by 2.3% in December, which was the first in more than two years.
Total retail sales in Hong Kong in all categories dipped by 0.9% in January.
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Manufacturer of colored gemstones Gemfields reported a drop in revenue of almost 46% to $ 51 million for the six months ended December 30, 2016, versus $ 94 million in the same period of the previous year.
The company recorded a loss of $ 13.6 million during the reporting period, as opposed to a profit of $ 8.2 million in the previous year.
The company said that the main reason for decrease was the postponement of the auction the highest quality emeralds, originally scheduled for December 2016 to February 2017. Also at the last auction of the ruby offered a range of products.
During the reporting period were conducted only two auction - bidding emeralds and beryl lower quality and auction ruby corundum and mixed quality, the company said. In the previous period it was held three auctions.
Gemfields decided to let some of their customers to adapt to the Indian program demonetization, which was launched in November 2016.
The company plans to hold another auction of rough emeralds and beryl commercial quality, as well as trades and ruby corundum mixed quality in the second half of fiscal 2017.
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High-level Committee, consisting of senior finance ministry officials and regulatory authorities of India will meet next week to discuss the creation of a gold exchange for spot contracts, the report said Bullion Bulletin.
Bombay Stock Exchange (Bombay Stock Exchange, BSE) and the Indian Association of gold and jewelers (India Bullion and Jewellers Association Ltd, IBJA) jointly launched trading platform. Organizations expect regulatory approval. In addition to the BSE, the exchange MCX and NCDEX have also made a presentation to officials of the Ministry of Finance officials to launch its own gold exchange.
While trade commodity futures in India is currently regulated by Sebi, for the regulation of trade in the spot does not exist. Currently, Zaveri Bazar in Mumbai and Sarrafa Bazar in Delhi is the largest wholesale market of gold for immediate delivery in India and act as centers providing data on prices.
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Alrosa, the largest in the world in terms of production diamond company, reported on the holding of the first industrial explosion at the Upper Muna field.
After blasting to "Polar" career mastered 21,000 tons of diamondiferous ore which is stockpiled and transported to the ore stockpile deposits. Earlier in the open pit blasting operations on the diamond-bearing sands to release immediately the ore body have been carried out.
In 2017, with the Upper Muna field is planned to export 75 thousand tons of ore. Diamondiferous feed goes to the processing plant № Udachninsky GOKa 12 for subsequent processing and enrichment.
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Polished diamond imports to the United States in 2016 remained essentially unchanged, according to the latest government data.
In 2016, the import of diamonds in U.S. fell by 0.3% to $ 23.03 Bln.
Diamonds Import by weight decreased by 2.6% to 10.8 million carats, and the average price rose to 2.4%, up to $ 2126 per carat.
In this case, polished diamond imports from India increased by 17% to $ 8.62 billion, while the supply of such products from Hong Kong and China increased by 14% to $ 1.55 billion. This factor is compensated for a 15 percent reduction of import of diamonds from Israel, to $ 7.08 billion. thus Israel, who was a longtime leader in the diamond supply US, India conceded the first place on this indicator. Polished imports from Belgium decreased by 11% to $ 3.29 billion.
Diamond exports rose 2.9% to $ 18.85 billion, while net imports fell by 12% to $ 4.18 billion.
Rough imports rose to $ 860 million versus $ 305 million in the previous year. Diamond exports jumped to $ 607 million versus $ 193 million a year earlier. Net imports of diamonds in the US rose to $ 253 million versus $ 112 million a year earlier.
The balance of the diamond trade, reflecting the difference between net imports and exports fell by 9% in 2016 to $ 4.43 billion.
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as the company recorded lower diamond production and revenue

Zimbabwe Zimbabwe Consolidated Diamond Company (ZCDC), established at the beginning of last year, after removal from the diamond concessions in Marange (Marange) diamond a number of companies, laid off its Acting Executive Director Nyashanu Ridge (Ridge Nyashanu).
His replaced Morris Mpofu (Morris Mpofu), which led the exchange control unit in the Reserve Bank of Zimbabwe (RBZ).
Zimbabwe Independent reports that Nyashanu was relieved of his duties, as the company recorded lower diamond production and revenue.
Last year ZCDC able to produce about 900,000 carats of diamonds against a peak performance of 12 million carats per year.
Resignation Nyashanu occurred a few months after ZCDC fired its former CEO Mark Mabhudhu (Mark Mabhudhu) under unclear circumstances, according to the publication.
"Nyashanu fired last [Wednesday], and was made a police report because he went to the service car (Mercedes Benz GL)", - said the source newspaper.
Minister of Mines of Zimbabwe Chidakva Walter (Walter Chidhakwa) in an interview to Rough & Polished said last month that the actual consolidation of diamond mining is not yet complete because of legal debate and protracted negotiations with the previous owners of the diamond concessions.
"[The achievement of] an agreement on these issues has taken much longer than we expected, but I'm glad to announce that we will soon settle all issues," - he concluded.
Chidakva said that by the end of this year, Zimbabwe's plans to mine in Marange 500 000 carats of diamonds per month.
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Despite the fact that in terms of the privatization of state enterprises in the years 2017-2019 mention the Russian diamond cutting enterprise "Crystal" from Smolensk, the fate of the final decision on its privatization remains unclear.
General Director of "OAO" PO "Kristall" Maxim Shkadov said: "in Russia is forecast plan of privatization of enterprises in a certain period, which is approved by the Russian government in February of our company shares this year have been included in the forecast plan ... [Meanwhile], during the period. from 2014 to 2016 shares of the company have also been included in the forecast plan, but no further action was not followed. "
According Shkadov, owner of the company with the Ministry of Economic Development and the Federal Property Management Agency said there is no specific privatization plans and options.
Shkadov believes that the best option for the "Crystal" will purchase its shares ALROSA as cutting and polishing company willing to invest a little bit.
"We believe the purchase of the company's shares may be carried out only strategic investor [Alrosa] - Shkadov notes -. And it would be a logical step, because the raw materials earner must work closely with the processor to keep track of all the processes that occur in the market."
Shkadov added: "Recently, there was the president of Alrosa change, hope to find a common language with the new leadership."
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Labor productivity is the diamond industry's challenge number one - it has fallen by 30% over the past decade, said Mark Kyutifani (Mark Cutifani), CEO of Anglo American, speaking at a conference of the Association of geologists and miners Canada (Prospectors and Developers association of Canada) .
Kyutifani reported that in 2012, Anglo American increased its productivity by 41%, ensuring production growth of 8% with a decrease of one third of the costs. The number of environmental incidents have decreased by 87%. In addition, Anglo American for a year reduced net debt by 34%, Kyutifani said.
He stressed the importance of sustainability "through our balance of responsible business management and an understanding that growth factors of macroeconomic, geopolitical and other uncertainties require more operational discipline and diverse approach to the development and financing of our business."
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In discussing the question of whether to expand production at the diamond mine, Argyle (Argyle) in Western Australia, Rio Tinto concluded on the need to lower the evaluation of mineral resources for the project.
In a recent statement, Rio Tinto noted that the estimated mineral resources, that is, the amount of material that can be recovered for economic gain, have been drastically reduced in the past year. The company in 2016 reduced the estimate of this indicator by 66% to 15 million tons.
In Rio Tinto said that this is due to constant revision options for expansion of the project life cycle.
"It also limits the creative assets of the project before a known volume of mineralization that may be developed, mining and processing within the specified service life", - added to the mining company.
Meanwhile, Rio Tinto said that production at the Argyle diamond will continue until 2021.
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In Lucapa Diamond reported that Lesotho authorities issued a 10-year license to mine diamonds from the project Motae (Mothae) its operator Mothae Diamonds.
The issuance of a production license was one of the preconditions for the acquisition of Lucapa 70 per cent of Mothae Diamonds, said in a statement.
High priority kimberlite project Motae has inferred resources of 1 million carats, and occurring resources at the level of $ 1 billion.
In the Pilot production has been found that Motae contain large diamonds of type IIa, including individual stones weighing up to 254 carats, and diamonds jewelry quality, which are sold for $ 41,500 per carat.
Paragon Diamonds originally tried to reach an agreement with Lucara Diamond, the former majority owner Motae, for $ 8.5 million, but was unable to collect the required amount.
Lucara, however, in March last year, completed the transfer of its shares Motae the Government of Lesotho, which freed the company from all liability related to the restoration of the project.
At the same time, in Lucapa noted that Lesotho Ministry of Mines recently received a lawsuit against the award to her victory in the tender for Mothae Diamonds.
Nevertheless, the Ministry informed us that the claim is groundless, inappropriate, and it will be vigorously challenged in court.
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