Sights – The Rough is (Still) Hot

The demand for rough continues to be strong as the latest sights prove. In Antwerp and London strong demand was seen for goods offered by BHP Billiton, Rio Tinto and DTC.

DTC goods remain stable in quantity and price, since outside rough is still on average 5 to 6 percent more expensive than DTC goods. Sightholders expressed great optimism for the coming year, backed by a bright forecast by ABN Amro’s Peter Gross who told Sightholders that the US, Hong Kong and Japanese markets are facing economic upturns.

The Forevermark program is on schedule and Sightholders participating in it expect it to be the Next Big Thing as goods earmarked for the program are already going into manufacturing.

BHP Billiton’s sight, also held this week, is about 40 percent smaller than the super-sized sight held in January. In other words, back to its normal size. Traders are reporting that demand for the goods is strong, especially for Indian goods, exceeding supply.

At Rio Tinto’s sight held last week buyers report that the assortments had improved, raising the value of boxes while prices remain stable.

Aber didn’t offer an allocation this month.