贝恩：2018年全球钻石行业报告（英文版）（43页）.pdf

1、The Global Diamond Industry 2018 A resilient industry shines through Copyright 2018 Bain the final outcome for the year will be determined by sales performance during the holiday season. Rough diamond mining companies delivered unprecedented production growth of nearly 20% in volume in 2017. The pro

2、duction increase came mostly from mines with lower-quality assortments. Mining company revenues grew by 2% overall, indicating a positive trajectory for the second year in a row. In 2017, some major producers reported decreases in their EBIT margins, mostly due to currency appreciation in production

3、 countries. However, mining companies profitability bounced back in the first half of 2018. Midstream profitability remained positive with margins of about 1% to 3%. Assuming the demand for diamond jewelry continues to rise through the end of 2018, overall profitability of the cutting and polishing

4、segment is expected to improve. Midstream inventories increased in 201718, particularly in lower-quality and small-size assortments, as midstream players prepared to ride another demand surge for those categories in 2018. India continued to grow its leadership position in the cutting and polishing s

5、egment due to lower labor costs, a favorable regulatory environment and relatively better access to financing. Even though financing availability remains an issue in the midstream segment, transparent and financially healthy companies report little impact on their ability to secure funding. In line

6、with positive luxury market trends, global diamond jewelry sales grew 2% in US dollar terms in 2017, fueled by strong macroeconomic fundamentals in the US, resurging demand from Chinese millennials, and increasing sales in the self-purchasing category in China. The Global Diamond Report 2018 Page ii