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DTC August Sight Estimated at $650M
By Avi Krawitz Posted: 08/22/07 09:10
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RAPAPORT... The Diamond Trading Company’s August sight produced no major changes as observers valued the sight at approximately $650 million. The value attached to this week’s sight (August 20 to 24,) the seventh of the year, was the same as estimates for the previous sight in July.

“There was a slight change in the assortment of goods reflecting the strong demand for rough in the market at present,” said one diamantaire. “Overall though, there were no major changes.”

Diamond Trading Company (DTC) spokesperson, Louis Prior, said the August sight was traditionally quieter as people return from their summer vacations. She added that the company was more focused upon assessing the questionnaires submitted in July by current and potential sightholders for three year contracts beginning in 2008.

Prior said that DTC received a record number of applications this year and that the final list of clients for the next contract period was scheduled to be announced during the week of December 10, following the final sight of 2007.

Earlier in the year, DTC managing director Varda Shine confirmed that the company would be supplying to fewer sightholders in the next period.  The company has yet to reveal how many clients it will be supplying in 2008.

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