News

Advanced Search

Larger Rough in Demand at Trans Atlantic Sale

Apr 5, 2021 2:03 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... 
Trans Atlantic Gem Sales (TAGS) registered proceeds of $60 million at its March tender in Dubai amid a steady market for larger rough diamonds.

The company sold just over 49,000 carats to 63 companies, with individual invoices ranging from $6,000 to several million dollars, the tender house reported last week. It offered a total of 60,000 carats of production from South Africa, Namibia and Angola with a combined value of around $65 million.

The sale featured around 150 special stones — above 10 carats — with TAGS seeing “a great deal of interest from the global manufacturing community” for these items, it added.

“In [0.75-carat and larger] sizes, we saw continued strong demand as in previous months, but noted a marginal softening in smaller sizes” under 0.75 carats, the company explained.

The tender also attracted several new participants from Israel. Israeli buyers have been able to transact with the United Arab Emirates since the two countries agreed to a peace accord last year.

TAGS predicted a “slight slowdown” in the rough market in the coming weeks as the Indian vacation season approaches.

“However, the polished markets remain in good shape, with China recently reporting a significant rise in jewelry sales in January to February this year, and strong holiday sales in America,” the company added.

Image: Rough diamonds. (Trans Atlantic Gem Sales)
Tags: Angola, China, Dubai, Israel, Namibia, Rapaport News, rough, Rough Diamonds, rough market, rough sales, rough tenders, South Africa, TAGS, Tenders, Trans Atlantic, Trans Atlantic Gem Sales
Similar Articles
Field NotesRough Bubble Brewing
Jul 15, 2021
The rough market is buoyant after yet another price increase by De Beers, leaving many in the trade
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2021 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.