Antwerp Rough Diamond Trade Stable Despite Runaway Prices

(IDEX Online News) – Belgium’s net rough diamond exports were slashed by half in March, totaling $77.8 million. In volume, net exports of 1.9 million carats fell 45%. However, the declines hide a large increase in the value of rough trading through Belgium in March and a large increase in prices.

Gross rough exports of 12.5 million carats worth $1.35 billion are an 8.1% decline in volume and a 33.9% increase in value compared to March 2010, based on the latest figures release by the AWDC. The average value of the month’s exports stood at $108.14 p/c.

Rough imports of 10.6 million carats valued at $1.27 billion increased by 4.7% and 49.1% respectively, averaging $120.55 p/c. The figures underscore the major changes in rough diamond prices over the past year.

Interestingly, the volume of trade sees little variation, a trend that has been evident in the past few months, indicating the market’s ability to absorb the price hikes.