News

Advanced Search

Rio Tinto Sees Rough Price Decline by mid-2016

Dec 3, 2015 4:12 AM   By Rapaport News
Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Rio Tinto expects rough diamond prices to decline by the middle of next year, Jean-Marc Lieberherr, managing director of the company’s diamond unit told Bloomberg Television.

“There is a need for the rough prices to adjust to the economic value of the polished price and that trend is in motion at the moment,” Lieberherr said in an interview broadcast Wednesday. There’s a disconnect between prices for rough diamonds and polished ones, he said.


The executive said a “logjam” of diamonds held by the industry’s midstream -- traders, cutters and polishers -- will clear by the middle of next year as rough prices decline.

 “The polished pipeline is a little bit overloaded and it will probably take until about the middle of next year to come back to normal levels,” Lieberherr said. “The last 12 to 18 months have been tough for the industry.”

Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
Tags: Bloomberg, Jean-Marc Lieberherr, Rapaport News, Rio Tinto
Similar Articles
© Copyright 1978-2020 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.