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Market Comments 4/29/2010
Posted: 04/29/10 18:00
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DTC April sight estimated at $470m as De Beers raises prices while production restrictions squeeze rough supply to cutters. Polished prices stable and not increasing with rough due to insufficient consumer demand. Polished trading steady with good liquidity for 0.30-0.70 ct, H+, VS+, certs. De Beers long-term production expected at 40m ct/year, well below previous peaks. Debswana considers diversifying from diamonds. ALROSA forecasts 34m ct/yr through 2012. Improved traffic but light diamond trading at Chicago Show. Amazon.com 1Q sales +46% to $7.13b, net income +68% to $299m.
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