August 11, 2004
DTC Announces Price Increase
De Beers' rough diamond sales group, the Diamond Trading Co., is raising its diamond prices an average of 5% across the board at its August 2004 sight. It says the assortments it offers customers will remain consistent.
DTC based its increase on strong diamond sales growth, with an average 7% increase for the first half of 2004. It says there is a consequential decline in available stocks at cutting centers around the world. This provides the scenario for price hikes.
DTC predicts the second half of 2004 will remain bullish for diamonds due to positive economic indicators and an environment that is positive for continued diamond consumption.
by Robert Weldon, G.G.