U.S. Polished Diamond Imports Soar in Value, Rough Tumbles

Imports of polished diamonds by U.S. traders jumped 10 percent in January to $1.277 billion on imports of 1,485,412 carats. By volume, imports increased 2.88 percent. Conversely, the value of rough diamond imports fell dramatically to $50 million, a 25.8 percent drop, despite an 8.21 percent increase in volume to 76,514 carats.

Israel was the leading source of polished diamond, shipping 348,110 carats valued at $733 million, an average value of $2,106.47. India was the second largest source by value with 892,534 carats worth $262 million with an average value of $293.89 p/ct.

Following are Belgium with 127,196 carats worth $181.4 million ($1,426.49 p/ct); South Africa with 2,302 carats worth $29.4 million ($12,788.07 p/ct); and Hong Kong, which shipped to the U.S. 20,996 carats valued at $14.8 million ($706 p/ct).

Botswana was the leading source of rough diamonds to the U.S. in January of this year, which was especially surprising considering it trailed far behind South Africa and Canada last January. The African country, the largest source of rough diamonds in the world, ships most of its goods to the DTC in London. In January it supplied the U.S. market with 27,500 carats valued at customs at nearly $22 million, an average value of $799.40 p/ct.

South Africa shipped 26,023 carats of rough worth $11.6 million, an average of $444.44 p/ct.

High average price per carat was paid for goods that came through Israel, $2,048.41 p/ct, as well as those goods sourced directly from Sierra Leone ($2,475 p/ct) and Angola ($2,401.55 p/ct).