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Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future
Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...
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14 october 2024
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Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products
Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...
30 september 2024
Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices
The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...
23 september 2024
WPIC: Excess platinum imports by China spur shortages elsewhere
The platinum market was in surplus on paper but on the ground tightness sent lease rates surging to the highest levels in a decade, the WPIC said in its latest quarterly report.
Lease rates for platinum peaked at around 10% in May, higher than at the peak of the pandemic. The one-month lease rate has eased back to 3.6%, still much higher than the 10-year average of 0.3%. China imported 1.44 million ounces of platinum in the first six months of the year, but 645,000 ounces of that could not be tracked in terms how it was used, partly due to restrictions on travel in the country.
Around 40% of platinum is used in vehicle exhausts to remove harmful emissions. It is also widely used in jewellery. Total supply is forecast to decline 8% this year, with mine supply having declined 4% in the second quarter. Higher Russian output was offset by declines elsewhere, the report said.
Investment demand was hit by fears of a global recession and rising interest rates, causing holdings in exchange traded funds (ETFs) to fall by 89,000 ounces in the quarter, the report said. The published data resulted in a platinum surplus of 349,000 ounces in the second quarter and an expected full-year surplus of 974,000 ounces.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished