15-7-2021
De Beers has increased prices for its rough diamond at its July sight, for the fifth time within eight months.
Rough weighing around one carat rose five percent and smaller stones have a 3 percent price rise. “The company is now cashing in on resurgent demand from its customers, the mostly family-owned businesses that trade, cut and polish the stones. Buyers have been replenishing supplies and are competing fiercely for goods needed to keep factories running. Consumer demand remains strong and prices of polished gems are also rising.” reported Bloomberg.
Russian rival Alrosa CEO Sergei Ivanov told the Russian news agency TASS that its rough diamond prices might rise as the global demand outpaces slowing supply. The anonymous buyers commented the diamond giants had “gone too far … as polished prices need to rise higher in the future to justify rates that rough stones are fetching right now”.
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