U.S. Rough Diamond Imports Surge in October

U.S. imports of rough diamonds jumped dramatically in October compared to the previous year. Imports rose 45 percent in value to $90.27 million and 137.4 percent in volume to 126,252 carats. U.S. diamond traders were looking for more goods of lower price - $715.03 p/c (per carat) compared to $1,170.44 p/c last year.

The sharp decline in average price, 38.91 percent, reflects a trend seen since January. Cumulatively, during the first ten months of the year, the value of imports has been declining while volume has risen, leading to a 32.84 percent decline in average price to $627.64 p/c.

During the January to October period, the U.S. imported $676.32 million worth of rough diamonds weighing 1,077,550 carats, that’s a 20.59 percent decline in value from $851.65 million and an 18.24 percent rise in volume from 911,326 carats.

South Africa was the leading supplier of rough diamonds in October, shipping 88,000 carats worth $36,562,374, an average price of $415.48 p/c.

Noteworthy is the $15 million in imports from Lesotho. The small African kingdom shipped 603 carats of goods – for an average value of $24,875.62 p/c.