Diamond News
Rapaport Weekly Market Comment: Diamond market seasonally quiet. Polished prices steady, but profit ...
RapaportRapaport Weekly Market Comment: Diamond market seasonally quiet. Polished prices steady, but profit margins squeezed after April rough increase. Polished trading more profitable than rough manufacturing. Petra 1Q rough prices +5%. Letšeng 1Q average price +98% to $3,276/ct. Miners sold more carats than recovered in 1Q: De Beers sales -38% to 8.8M cts., production +15% to 8.5M cts. Alrosa sales -6% to 13.3M cts., production -17% to 7.4M cts. US jewelry sector shrinking as 343 businesses discontinued in 1Q. Christie’s sells $46M (88% by lot) and Sotheby’s sells $34M (83% by lot), with fancy-intense blue diamonds leading New York auctions. De Beers to launch diamond-tracking program for artisanal miners. Read more: http://ow.ly/KMXk30jH8C0
