DTC Announces Price Increase Effective January
January 07, 04
De Beers’ DTC announced today that it plans to increase prices starting with Sight 1 2004, which will take place January 12 – 16, as first reported by IDEX Online in the beginning of December.
Following is the DTC announcement:
“With effect from the January 2004 sight, DTC will raise its prices of rough diamonds by an average of 3% with most categories rising in line with the average. Assortments will remain consistent with 2003 and, as usual, box prices may vary according to intakes.
This price increase reflects the underlying supply and demand situation. Demand for diamond jewellery improved in H2 2003 and expectations are for healthy growth in 2004.
In addition the decline in the dollar over the last 6 months has had a significant impact, decreasing the price of diamonds to consumers in over 40% of the world and increasing the cost of mining.”