U.S. Rough Diamond Trade Underscores Erratic Market
June 12, 08 by Edahn Golan
The value of U.S. rough diamond imports rose 9.4 percent while exports fell 40.4 percent, resulting in an increase in the net diamond trade of $33.35 million. In volume, imports and exports doubled, leaving a net export of 98,000 carats.
The U.S. imported 86,537 carats of rough diamonds worth $56.44 million, an average of $652 per carat. Exports of 184,524 carats valued at $19.89 million averaged only $107.8 p/c.
As seen already in past months, the U.S. is exporting more rough diamonds then it is importing, mostly to Belgium and Dubai. These are low value goods averaging less than $45 p/c.
Surprisingly, while the U.S. has tended to import very high-value rough in the past, March and April imports were of significantly lower value – by about half – even though global rough prices are soaring and the dollar is dropping.
