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Import of rough diamonds falls

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Import of rough diamonds falls
July 11
13:00 2019

It’s well-known that Belgium- a small European country- is the world diamond center where diamond bourses are located. The fact that import of gem stones to Belgium in the first half of this year fell has become a wake-up call. It should be mentioned that import decreased by 20%- to a value of 39.7 million carats. For comparison, during the same period of 2018,  49.4 million carats were brought into the country.

In June, the number of imported rough diamonds decreased by 8.5% to 7.3 million carats (680 million US dollars). Last June, the carat price was $ 108.5. In June 2019, it fell to $ 93.4.

A large amount of rough diamonds is supplied to Belgium. Then it is distributed to the cutters. Thus, the import price is comparable to the price of the manufacturer. At the same time, the export price is the purchase price of raw materials. The fall in value may be due to the reduction in the range of raw materials.

In May, the export price was $ 110. In June, it dropped to $ 85.

Lapidary business is the main consumer of rough diamonds. This year the situation has worsened due to the accumulated stock of polished diamonds and problems in the diamond cut segment.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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