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Diamond News Broadcast
Polished Diamond Prices Ease in September
Oct 5, 2011 6:30 PM
By Rapaport News
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RAPAPORT...
Download MP3 audio.
Trends noted in the October 5th Rapaport Research report for polished diamond prices indicated that diamond demand is mainly being driven by existing retail orders with very little dealer trading. Polished diamond prices continued to fall month-to-month as economic uncertainty and tight liquidity weighed on cutting centers. Looking ahead, Rapaport expects large dealers with strong liquidity to start buying up rough goods at current discounted rates and rough availability is also expected to rise. India's inventories are sufficient to last through Diwali and cutters are hesitant to anti-up additional capital for new rough purchases. Still, trading sentiment is low ahead of Diwali and the dollar has grown much stronger against the rupee recently, which further pressures trading. ALROSA pledged to hold rough diamond prices stable as it anticipates weaker trading in coming months. ALROSA reduced supplies to the open market this month, but it remains bullish going into 2012.
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Tags:
Alrosa, diamond, Diwali, India, news, polished, prices, Rapaport News, rough
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