Fewer rough diamonds were traded in Antwerp in Q1 2015 over the same period in 2014, while the polished trade remained relatively stable, said the Antwerp World Diamond Centre (AWDC).
During the first three months of 2015, exports of rough diamonds in Antwerp declined 14 percent in carats to 25.7 million and 21 percent in value to US$3.2 billion. The rough import side followed the same trend with a decline of 13 percent in carats to 24.6 million and 19 percent in value to US$3.3 billion.
High rough diamond prices were one of the many reasons for the lacklustre rough trade on the Antwerp market. In response to this, De Beers has allowed the sightholders to postpone 25 percent of their purchases. The AWDC report said a switch in buying pattern has taken place when traders are now increasingly aligning their purchases in function of demand instead of acquiring entire stocks in the past.
The polished diamond trade in Q1 2015 was relatively stable when compared to the first three months of 2014, AWDC reported. In terms of carats, seven percent more polished diamonds were imported and three percent fewer were exported. In value terms, a four-percent increase on the import side and a 0.1-percent increase on the export side.
In Q1 2015, Antwerp imported 2 million carats of polished diamonds with a value of US$3.9 billion and exported 1.7 million carats with a value of US$3.8 billion.
According to the report, consumer demand for polished diamonds was lower than expected. The slight increases were mainly due to the positive import and export figures for polished diamonds to and from Hong Kong. “The reason for this is simple: 100 Antwerp diamond companies participated in the Hong Kong International Diamond, Gem and Pearl Show this year, as opposed to 60 companies in 2014. Given that this trade fair was held in March, the goods from all these companies were sent to Hong Kong, and many of these goods also returned to Antwerp after the show. Likewise, the trade fair in Basel also explains the notable 362-percent increase in the volume of imports from Switzerland in March. The trade fair was held unusually early this year, so the goods returned in March rather than in April as they did last year,” said the report.
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