Antwerp’s Q1’15 polished diamond exports rise marginally by 0.1%

For Antwerps’ rough diamond industry, the first quarter of 2015 depicted a slow performance, with a drop in its exports and imports, notes AWDC. The imports of rough diamonds dipped 13 percent (on y-o-y basis) in volume terms to 24.6 million carats, and by 19 percent in value terms to 3.3 billion USD. Exports of rough diamonds reduced 14% in carats to 25.7 million carats, and dropped 21 percent in value to 3.2 billion USD.

The slackened pace of rough diamond trade was being attributed to several causes – The current high level of rough diamond prices has prompted leading diamond traders to purchase less; De Beers, responded to this by allowing its sightholders to postpone 25 percent of their purchases. Some diamantaires took advantage of this opportunity. Also, as per AWDC, a switch has taken place in the way that diamond traders conduct their purchases. Whereas they previously acquired entire stocks of rough diamonds, traders are now increasingly aligning their purchases in function of demand.

On the contrary, Antwerp’s polished diamond trade performed well with a 7 percent increase in imports to stand at 2.0 million carats. The value of polished diamond imports rose 4 percent to 3.9 billion USD. Exports of polished diamonds decreased 3 percent (on y-o-y basis) to 1.7 million carats, with its value rising marginally by 0.1 percent to 3.8 billion USD.

AWDC notes that the current consumer demand for polished diamonds is lower than anticipated. The slight increases are mainly the result of the positive import and export figures for polished diamonds to and from the Hong Kong market.