DTC decides a smaller September sight in view to help stabilise the market

Post its large August sight ($855 million), which was seen as unusually large, the Diamond Trading Company (DTC) had announced to reduce its September Sight to $380 million. DTC intended to ‘ seek to calm the market by decreasing sights and stabilizing prices – which will affect the entire diamond supply pipeline, including the polished diamond market in diamond trading centers’. Supporting this decision Moti Ganz, Chairman of the Israel Diamond Institute (IDI) said that this will help to ‘calm the market, which has recently seen vacillating prices’. Moti Ganz is also the President of the International Diamond Manufacturers Association and the Israel Diamond Manufacturers Association.

Ganz had special praise for DTC CEO Varda Shine –whom he and Israel Diamond Exchange President Yair Sahar inducted into the IDI League of Honor at the opening ceremony of the Hong Kong September Fair 2011.