One decade of ups and downs in rough and cut diamonds

Quarterly Zimnisky Rough Index.png

Indices.png

The last two decades have been a carrousel of emotions in the mining industry:

  • Oil and gold prices had steadily been growing since 2001. Oil spiked to maximum historical values in 2008 (and then crashed, to climb again for 3 consecutive years, plateau for 4 years, until mid 2014, crashing again, reaching nominal values of 2005, and recovering marginally since then).
  • Gold has had a more regular pattern, growing since to 2001 until 2011, maintaining a high plateau until the end of 2012, crashing until mid 2013, becoming relatively stable since then.
  • Polished diamonds have shown a much less volatile behaviour, with some ups in 2008 and 2011 (mimicking the markets’ general mood) but rapidly stabilising into a nominal stability (a slow real price decline).
  • Rough diamonds prices rose roughly 50% in nominal terms (as measured by the Zimnisky Rough Index) since 2007, a more subdued increase in real terms. The price increased in the 2009 – 2011 period, after which it stabilised until early 2015, after which it slowly declined until today.

Why are diamond prices less volatile than other mineral commodities’?
Why do rough and polished prices behave differently?
New deposits discovery and production capacity expansion seem increasingly difficult; why don’t diamond prices increase significantly in real terms?
Are there two different markets in diamonds?
What is the impact of new recovery technologies (XRT) in diamond markets?

Will discuss that in the next post. What is your opinion?

The oil and gold indices were calculated by just dividing the monthly gold average nominal price in US dollars by their price (nominal US dollars) in January 1980.

The Antwerp Diamond Index is a set of indices used to measure the price variation of five types of polished diamonds. The index is based on prices in US $ and gives the average price evolution on the Antwerp market of diamonds ranging in colour from exceptional white + to white and in clarity from LC to VS2:

  • 1 ct diamonds (1973 =100)
  • 1/2 ct diamonds (1973 =100)
  • A = Small Brilliant (1980 =100)
  • B = Melée (1980 =100)
  • C = 1/4 ct diamonds (1980 =100)

The Antwerp Diamond Index is maintained by the Diamond Office of The Antwerp World Diamond Centre (AWDC). To know more about AWDC and the Diamond Office , just visit their website: https://www.awdc.be/en/diamond-office.

The Zimnisky Global Rough Diamond Price Index was created to consolidate rough diamond price information and publish current respective price changes of rough diamonds on a weekly basis in the form of an index.  The intent of the Index is to track, analyze, and disseminate current aggregate rough diamond price fluctuations for use by a range of diamond industry participants.

The proprietary index methodology primarily incorporates price data from rough diamond transactions in the primary market, e.g. sales via long-term contract, tender, and auction by commercial miners. The Index also includes a minor sensitivity to polished diamond prices, given that miners utilize the polished market as a factor when determining contract pricing of rough. In addition, the Index includes a minor sensitivity to stand-alone diamond mining equities, as the relative liquidity that equities provide can imply the current profitability and revenue generation ability of diamond miners, which is directly influenced by the current rough diamond market.

Given the nature of natural diamond production, the variance in quality of stones produced, or the product mix, can impact global rough diamond prices on an average price-per-carat basis. The Index strives to represent as accurately as possible current price changes reflected in the average rough diamond transaction valued on a per carat basis in U.S. dollars. The Index value does not directly represent the price of a 1-carat rough diamond, but the percentage change in the average value of a rough diamond transaction relative to the initial Index value, at a given point in time.

The Index is based on an initial value of 100 using data starting on April 4, 2004. The Index is updated on a weekly basis, typically on Saturday. Retroactive revisions to index data are made on a quarterly basis typically after public miners release official quarterly sales figures.
(adapted from http://www.paulzimnisky.com)

To know more about the Zimnisky Global Rough Diamond Price Index, or obtain Paul Zimnisky’s insight on the diamond markets, check http://www.paulzimnisky.com.

UM SÉCULO DE DIAMANG – COMEMORAÇÃO

Segunda-feira, 16 de Outubro 2017
Instituto Superior Técnico
Museu Décio Tadeu – Pavilhão de Minas
das 1500 às 1700

Na data em que faz um século da criação da DIAMANG, temos uma oportunidade para:

  • Celebrar a DIAMANG e os diamantesPortugal e os PortuguesesAngola e os Angolanos e o projeto que desenvolveram no coração do continente africano;
  • Recordar a gesta anterior de Portugueses, Brasileiros e Africanos no princípio do século XVIII, senhores, homens livres ou escravos, que nos sertões brasileiros revolucionaram o mundo dos diamantes, imutável desde a Antiguidade; recordar a abertura de novos mundos e mercados no século XVI, com a descoberta pelos navegadores Portugueses da rota do Cabo, globalizando os diamantes e especiarias da Índia nos mercados europeus.
  • Celebrar uma comunidade de povos e nações que partilham língua, história e cultura nos quatro cantos do mundo.
  • Não esquecendo a História e a celebração do passado, sobretudo, construir pontes para o futuro, promovendo e desenvolvendo em Portugal, em Angola, no Brasil, o conhecimento e a investigação científica sobre os diamantes, as pedras e os minerais preciosos e os seus jazigos, por um lado, e sobre as culturas, povos, línguas e geografia de África, a América do Sul e a Ásia, por outro.

Programa de dia 16 de Outubro, já na segunda-feira

15:00 – Abertura: Prof. Luís Chambel e Prof. Manuel Francisco

Apresentação e discussão informal do programa das comemorações (a decorrer durante o próximo ano)
Visita guiada ao Museu Décio Tadeu e às coleções da DIAMANG e de Angola

15:45 – O diamante, Portugal, Brasil e Angola: uma viagem secular – Luís Chambel

16:30 – Discussão do programa de comemorações e da visita ao Museu (continuação)

Mais informações: mensagens para luischambel@sinese.pt ou messenger (Facebook)

100 anos – DIAMANG, 2017

Bom Agosto, boas férias para todos os que as gozam agora.
É altura de começar a planear o final do ano e 2018.

A DIAMANG faz 100 anos daqui poucos meses.

É oportunidade para celebrarmos ao longo de 2017 e 2018, a DIAMANG e os diamantes, Portugal e os Portugueses, Angola e os Angolanos.
Já existem algumas ideias; são precisas mais. O que podemos fazer, e onde?
  • O quê?
    • Conferências técnicas
    • Almoços
    • Exposição de fotografias
    • Edição de livros
    • Artesanato da Lunda
    • Minerais e rochas ligados aos diamantes
    • Que mais?
  • Onde?
    • Lisboa, claro.
    • Luanda, evidentemente.
    • Porque não na Lunda?
    • Porto.
    • Sardoal.
    • Moura.
    • Viana do Castelo.
    • Onde mais?
Serão precisos voluntários para ajudar a organizar e coordenar os eventos; estou certo que poderei contar com Pedro Batista Tomé, Joao Pedro Roque, Isabel Inácio, Luz d’Oliveira Belchior, Jose de Sá, Graziela Valente, Ana Carvalho, Isabel Redondo e muitos outros em todo o Mundo.
Vamos precisar de recursos audiovisuais, peças e artefactos, mapas, filmes e fotografias (antigas e modernas).
Se me fizerem chegar (através de comentários no blog, no Facebook ou LinkedIn ou através do meu email – luischambel@sinese.pt) as vossas ideias, nome e contactos durante Agosto, poderemos começar a organizar tudo logo no início de Setembro – o primeiro evento será a 16 de Outubro.
Abraço a todos.
Boas férias.

WIN A DIAMOND: HRD ANTWERP JULY SUMMER CONTEST

WHAT DOES A DIAMOND SYMBOLISE FOR YOU ?

From Monday July 3 to Sunday July 9 12.00pm, HRD organizes a Summer Contest on their Social Media platforms to discover what a diamond symbolizes for our online community.

To participate, post an original photo or video about what a diamond symbolizes for you on your public Instagram account, and make us dream away with you!

The participant with the most original photo/video will win a 0,30 ct diamond graded by HRD Antwerp. The winner will be announced on HRD’s Instagram account on Thursday July 13.

How to participate?
Follow these 3 easy steps:

1. Follow HRD’s Instagram account and like their  Facebook page

2. Post a photo/video on Instagram about what a diamond symbolizes for you, with the hashtag #hrdantwerplovesdiamonds​

3. Make sure your Instagram profile is public until Thursday July 13

Good luck to all of you !

 

Chuva de diamantes? A erupção de kimberlitos explicada de forma simples

A WIRED, publicação dedicada à divulgação científica e tecnológica, acaba de publicar um artigo sobre a erupção de kimberlitos, as exóticas e raras rochas vulcânicas que arrastam os diamantes durante o seu processo eruptivo.

Vale a pena ler, mesmo quem, como eu, acha que sabe tudo.
Basta seguir o link aqui.