Diamond Market Update (April 11, 2013)
At the end of March, a rally was reported in the secondary rough diamond market. It was driven by expectations that De Beers will raise its prices and reduce its sales volume. That price hike occurred to the tune of about 3 percent and up to 8 percent in some cases, according to a Professional Jeweller article. ALROSA also reportedly hiked its prices by about 3.5 percent.
Polished prices have been firm over the past several weeks and trading volumes have been good. Some traders have reportedly been attempting to boost prices for some of the more scarce goods, but their efforts have been met with resistance.
Rapaport reported that "that diamonds between 0.30ct and 0.40ct, G to K colour, VS2 to SI2 were 'hot' in March, with prices for these smaller stones continuing to outpace other stone categories," the Professional Jeweller article notes. Further, "VS to SI goods through to two carats in size, with triple EX certified stones, are in strong demand and short supply."
However, Rapaport has warned that rough prices are not sustainable at the current level of polished prices.Diamond Market Update (April 11, 2013) from Diamond Investing News
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV