In a discussion organized by Rapaport to announce the publication of a new RapNet price list on 6 November, Martin Rapaports spoke about diamond pricing among other issues. Martin Rapaport said: The business practices followed in the past are soon going to be rendered obsolete by the demands of the current economic scenario and urged the industry [...]
The share prices of DiamonEx share price on the Botswana Stock Exchange fell to a 52-week low last week following the company’s “below expectations” first sale of diamonds from its Lerala Mine. For full story, click here
Here at diamond investing news, we have been following how the financial crisis has been impacting the industry. For a brief summary over the past few months, it was not until the end of September that dropping revenues became an issue to diamond industry participants.
Diamond trading activity has witnessed a recent drop-off as buyers face extreme uncertainty about the viability of current price levels. Traders expect the prices of gems to deteriorate in the coming months, but no one has any idea as to how much of a change to expect.
Canada’s diamond production is on the rise. According to a report issued by the Mining Association of Canada, production rose 28 percent to 17 million carats in 2007.
Despite cautions of the US economic downturn, in 2008 De Beers has been able to boost rough diamond prices by 16 percent on the back of strong demand. De Beers’ marketing unit The Diamond Trading Company (DTC) has reached this 16 percent increase through incremental raises throughout the year.
Diamond values held steady in July, after rapid inflation earlier in the year. Weak consumer demand in the US, coupled with fear that the recession will spread globally put the lid on prices. Diamond values are still up 15 percent compared to a year ago.
Rough diamond prices are on the rise. De Beers boosted rough diamond prices by an average of 5 percent this month due to strong demand for diamonds in Asian emerging markets and tight supply. A De Beers official was quoted as saying: Buoyant diamond demand from China, India and the Middle East would more than offset [...]
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