De Beers Announces Post-Holiday Diamond Price Increase - Feb.2004
As the Diamond Registry Bulletin predicted last month, De Beers has announced
a rough diamond price increase. Starting with the January sight, the DTC is
increasing the price of its rough diamonds by an average of 3 percent, with most
categories rising in line with the average.
The announcement says the increase “reflects the underlying supply and
demand situation. Demand for diamond jewelry improved in the second half of 2003
and expectations are for healthy growth in 2004. In addition the decline in the
dollar over the last six months has had a significant impact, decreasing the
price of diamonds to consumers in over 40 percent of the world and increasing
the cost of mining.”
The increase is beginning to be felt in the polished. We feel there will be
some raising of polished prices this year, after several years of them being
stagnant. Dealers and manufacturers simply cannot stand to shoulder the rough
increases themselves any longer.v
| 
