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Global diamond production rose 26 percent to $14.41 billion in 2011 as rough diamond prices soared during the year, Kimberley Process data showed. By volume, production fell 3 percent to 123.99 million carats. The average price of production rose 31 percent to $116.19 per carat.
Predicting the diamond market can be tricky at times, particularly for those on the supply side of the pipeline. Miners, generally loath to scale down operations, have understandably been treading cautiously in 2012. The pledge made last week by De Beers to monitor production in line with sightholder demand, should therefore not be taken lightly.
The complicated dance between De Beers sightholders and the London-based brokers who work with them is about to get considerably more complex with the imminent move of the sights to Gaborone. It is anticipated that the first full Gaborone sight will take place in January of 2014. Diamond brokers are a vital link in the […]
It may have taken a downturn to prove it, but Diamond Trading Company (DTC) sightholders are sensing that the game has changed. As a result, there was an underlying anger emanating from this week’s DTC sight as prices softened a mere 3 percent and De Beers supply remained unprofitable.
Press Release: On Tuesday, Antwerp’s Diamond Trading Company (DTC) sightholders, diamond brokers and the AWDC, the umbrella organization representing the industry, paid tribute to Nicky Oppenheimer, the retiring chairman of the De Beers Group.
The diamond market in the first half (H1) of 2012 vastly differed from that in H1 2011. From liquidity to polished prices to consumer demand, conditions were clearly not as robust. As macroeconomic conditions continue to deteriorate, the diamond market continues to soften, but major rough diamond suppliers De Beers and Alrosa are resisting price […]
De Beers Reduces Prices 3%. The Diamond Trading Company’s (DTC) July sight had an estimated value of $420 million before deferments or ex-plan, as De Beers reduced prices slightly. At press time, DTC sightholders were expected to reject goods to be offered, which would reduce the value of the sight.
Competition is rising between the diamond trading centers. Not only are there new kids on the block vying for a greater portion of the global rough and polished trade, but the diamond distribution channel is constantly changing. No longer are New York, Antwerp, Mumbai and Ramat Gan the obvious destinations for the diamond business as […]
The Diamond Trading Company (DTC) has informed its sightholders that they can defer goods at the next DTC sight as diamond cutters face tight liquidity and low profit margins.
The rough diamond sector is in trouble. Not only the low demand, high costs, increasing inventories, weak polished prices or low liquidity testifies to this. People are also pessimistic. So much so, that they apologize for their gloomy descriptions.
There’s a dark horse lurking in the shadows of the diamond industry in the form of the Botswana government. Not only is it about to become a major rough diamond supplier in its own right – that is, independent of the Diamond Trading Company (DTC) – but it may soon gain more of a say […]
The Diamond Trading Company’s (DTC) June sight had an estimated value of $540 million. The De Beers rough distribution company made slight adjustments to prices and assortments that enabled the boxes to maintain their value. DTC reduced prices on some boxes and increased prices on others.