Rapaport: De Beers Sight Prices Up 4-10%

Rough Market
24/02/2021 06:10

Rapaport reports that prices at De Beers' latest sight were up significantly, 2-4% in the 1 to 2 carat sizes and even a steep 10% in the 5-10ct stones, the third consecutive price hike the miner implemented at its sights. While official results of this cycle have not yet been announced, insiders say sales have been thriving as much as they did at the December in January sights, when rough purchases were spurred by low inventory levels following the 2020 holiday season and continued demand in view of the Chinese New Year and Valentines Day. In a recent webinar, Rapaport senior analyst Avi Krawitz cautioned about the dangers of oversupply of (high-priced) rough on the market once polished sales decrease.