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Diamond Prices Going Up Again. So What Else is New?
The Diamond Trading Co. (DTC) announced an increase of less than 2 percent for rough prices for the February sight, saying the increase is based on analysis of medium- to long-term demand for diamonds.
"It is important for the DTC to review its box prices on a frequent basis in order to align itself with the changing diamond market," DTC Sales Director Des Cavanagh wrote in a letter advising clients of the adjustment. "This is intrinsically linked to the performance of the polished demand in the key consumer markets."
DTC's changes were in line with the estimated 6 to 7 percent growth achieved in those markets in 2005, Cavanagh asserted, as well as the current growth forecast of 7 percent for 2006. There are opportunities for growth in 2006, Cavanagh wrote, despite a challenging start to the year.
"We are rebalancing our prices from the February sight, the overall effect of which will be an increase of under 2 percent," he wrote. "We have carefully taken into account current market fundamentals and the medium- to long-term view, which we see as positive."
Look for Retail price increases in approximately six weeks.
