De Beers Raises Rough Prices

March 17, 2004

De Beers Raises Rough Prices

De Beers' Diamond Trading Co. will raise rough diamond prices by an average of 5%. This price increase reflects a strong Holiday 2003 in the U.S., double-digit growth in the Indian market, improvement in Japan and better-than-expected growth in China.

DTC has restocked throughout the pipeline, to meet demand for rough by cutting centers. DTC says assortments will remain consistent and box prices may vary.

Another factor, says DTC, is the falling dollar. "The weakness of the dollar continues to have a significant impact on decreasing the price of diamonds to consumers in approximately 40% of the world while increasing the cost of mining," it says.

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