Diamond Rough News Alert - January 2024

There is some confusion arising over the price of rough diamonds. News headlines state that De Beers has reduced rough diamond prices by 10-15 percent.

Further analysis reveals that De Beers did not lower their rough diamond prices in tandem with last years reductions in polished diamond prices. They chose the option of keeping prices high and allowing their sightholders to reduce or decline purchases. 

Even with the 10-15% price reductions, De Beers prices are still higher in comparison to other diamond rough offered for sale or tender.

It is true that polished diamond prices fell last year but the last quarter saw stabilization and then continuing price increases. So, despite the impression left by news headlines, diamond rough prices are not falling but rather keeping pace with the current strength of the polished diamond market.

Mel Moss

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