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Market Comments 7/21/2006
Posted: 07/21/06 00:00
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Trading markets under financial pressure with some suppliers dumping inventory. Premium prices for 0.80's-0.90's. Two caraters weak 3ct. supplies tight and demand stable. De Beers-DTC lowers prices on smaller sizes by estimated 5-7% with July sight at about $650 million. India June polished -22% to $783 million. India's manufacturers firing workers due to weak US demand. Charles & Colvard Q2-2006 sales -8.5% to $8.5 million profits +48% to $1 million. U.N. agency reports widespread child labor and maltreatment at Congo alluvial diamond diggings.
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