U.S. Rough Trading Slows in January

(IDEX Online News) – Gross rough diamond imports by the U.S. have declined in January, falling more than 30 percent by value. The drop in value took place as the volume of imports surged upwards.

The U.S. imported $38 million worth of rough diamonds in January, declining  31.6 percent year-over-year and 39.7 percent month-over-month, according to figures released by the U.S. Department of Commerce.

The volume of gross imports jumped to 67,165 carats, soaring 51.2 percent compared to January 2011 and 61.4 percent compared to December 2011.

The average value of imports declined accordingly, falling to $565.77 per carat.

Rough diamond exports exhibited the opposite trend, a sharp rise by value and a decline by volume.

Exports of rough worth $49.9 million increased 46.5 percent compared to January 2011 and 129.6 percent compared to December 2011.

The volume of exports, 20,041 carats, dropped 87.4 percent year-over-year, however increased 24.1 percent month-over-month.

The average value of exports was uncharacteristically high, $2,491.89 p/c.

Net rough diamond trade left the U.S. with a negative $11.9 million, compared to net imports of $21.5 million in January 2011.