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Rough-diamond prices up 15 percent this month

July 09, 2008

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London--Sightholders collecting their boxes of Diamond Trading Co. (DTC) rough earlier this month paid as much as 15 percent more for larger goods, according to a release from the DTC.

According to the DTC, prices for rough goods increased by an average of more than 5 percent at its July 7-11 sight, the sixth sight of the year.

Prices for rough that produce higher-quality polished diamonds of more than one carat increased as much as 15 percent.

"In arriving at this pricing approach, we have been closely monitoring the polished-diamond market and, using data from multiple sources, have adjusted prices while taking a long-term and sustainable approach to our pricing," the DTC stated in a notice sent to sightholders.

The DTC has committed to announcing price increases to its sightholders three times a year: before the company's annual results are released and at the sights preceding the industry's two major trade shows, JCK Las Vegas and the Hong Kong Jewellery and Watch Fair.

The transparency regarding price increases developed from feedback received at the Sightholder Consultative Committee, held in April. There, sightholders expressed a "keen" desire to know more about why and when prices will be going up or down, according to the DTC.

The DTC states that it will be providing its next cumulative price update at the August sight, scheduled for the week of Aug. 18.
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