De Beers Raises Prices on Diamonds

The diamond trading company increases prices for De beers site holders for a second time this year. The prices had risen by 7% in February and this time sight participants report that on small Indian goods it has risen by 25%. The DTC spokesperson Louise Prior said that there were readjustment of prices, but declined to give details. Sight holders are in a confused state about how the trading will develop and some also cautioned that the market was driven by dealer trading and that manufacturing was lagging.

“Polished is behaving well and we are able to push the prices up but it’s difficult to transfer the rough increases to the retailer because they have fix sales catalogues,” he said. “It takes time to absorb the new prices and you can only push so much. In six to nine months’ time I feel the market will stabilize or dip a bit but today everyone is working hard and prices are moving.”

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