17 May 2021
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Up, Above, Rough Prices So High!-What effect will increasing prices of rough diamonds have on the market?
Prices of roughs have been rocketing in the recent past, industry stalwarts believe that they will stabilise soon. They share their analysis with R Sugandha
By: Diamond World News Service
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Apr 12 2021 1:48PM
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Reference: 25512  

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Prices of rough diamonds will hopefully stabilise in the coming months. At present this hike has affected the manufacturers of cut and polished diamonds alone. It hasn’t affected retail demand for diamond jewellery. Nilesh Chhabria, Finestar DiamondsThe world’s biggest diamond producers both De Beers and ALROSA raised prices of rough diamonds – once again pushing the diamond-supply chain out of gear. Confirms Vipul Sutariya of Dharmanandan Diamonds Pvt Ltd, “Yes, prices of rough diamonds have been increasing in recent times. High premiums also exist in the secondary market.” Explaining the probable cause of this price hike, Nilesh Chhabria of Finestar Diamonds says, “Mining companies usually keep a close watch on demand for cut and polished diamonds and retail demand as well. Therefore, their prices change based on the market trends that they study.”

Prices are a reflection of demand-supply dynamics
Whereas Evgeny Augureev, Deputy CEO, ALROSA explains, “Rough diamond prices dynamics mirror the real, confirmed demand from the midstream sector. We saw a double digits growth in jewellery demand in the second half of 2020 and a good demand in early 2021 driven by both improved consumer sentiment and a pent-up demand.” Rough diamond prices will depend on demand and supply balance while being linked to polished prices’ dynamics. ALROSA always makes sure that prices reflect the actual market trends and a confirmed real demand. In recent months, the industry is evidencing a promising market development. The demand for rough diamonds is solid and all prerequisites for price recovery are in place.

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