Breaking News: Large Price Hikes at DTC Sight

(IDEX Online News) - As the market predicted, the Diamond Trading Company (DTC) hiked prices of rough diamonds at the Sight that opened today (Monday). Prices of many boxes were increased by 4-8 percent, and some by much more, sending a heavy buzz throughout the industry.

The DTC increased the prices of many of the smaller goods, but not them alone. The Colored sawables 4-8 grainers, for example, increased by about 4.5 percent, Common rejections -10 carats increased by 8 percent and the price of the Makeable Clivage 3 grainers / +7 box was hiked by 11.5 percent.

Double-digit increases are reported for many small makeable boxes such as Makeables -5+3 (+22%).

The price increases follow strong demand in the market for rough, resulting in wide scale trading in the boxes and high premiums. IDEX Online has learned that many boxes were pre-sold by Sightholders ahead of the current Sight for double-digit markups. Traders that committed to buying these boxes will pay these premiums on top of the list price increases.

“We have increased prices, on average, by mid to high single digit in the majority of boxes,” confirmed DTC Senior Corporate Communications Executive Louise Prior. “The price increases reflect the data we have been collecting from multiple reference points.”

In some boxes prices seemed to decrease, reflecting improved assortments.

IDEX Online will publish next week a full analysis of the rough market, including prices, premiums and demands.