DDE Sees Upturn in Activity

(IDEX Online News) – The Dubai Diamond Exchange (DDE) says it has seen an upsurge in activity this year. According to the director of the Dubai Multi Commodities Centre’s Commodity Services, the upturn is due to the increasing competitiveness of Dubai and the growing depth of the market.

“Dubai’s location at the center of the ‘New Silk Route,’ between producing and consuming countries, has made it an appealing choice for traders,” said Franco Bosoni. “It allows them to save time and money which they can use to view and buy diamonds locally.”

Among the events that have taken place so far this year at the DDE are 10 diamond auctions. DDE’s rough diamond tenders were initiated in 2012 and have grown to a full calendar of tenders throughout 2013, featuring rough diamonds from West Africa, Tanzania, Congo, Zimbabwe and Russia

In addition, Fusion Alternatives in cooperation with I. Hennig & Co., recently announced the expansion of its international diamond tender business with the launch of operations in Dubai. The company’s inaugural diamond tender took place from May 5-8 and featured a selection of polished – from melee to large stones – from a wide variety of sources including pawn shops, chain stores, close outs and exclusive productions.