niceice
Brilliant_Rock
- Joined
- Jan 29, 2003
- Messages
- 1,792
Don''t shoot the messenger, we''re cutter direct dealers, not the DTC. We make this point because in the past, we''ve been flogged for pointing these increases out to the public because they wrongfully assume that we and other dealers have some control over this... We don''t and neither does anybody outside of the DTC and it''s competitors who are likely to follow their lead as they have within close proximity of every other price increase implimented by DeBeers. They''ve raised the price of diamond rough more than 21% over the past calendar year and we expect this to be the first of many for 2005...
From Rapaport News, Friday, January 07, 2005:
--- DTC Prices to Increase 3% at January Sight
According to one sightholder, the total value of the DTC''s first sight of the year will be around $750 million. He anticipates that the allocations will be full of goods from Botswana, which he said De Beers has in stock. This is not difficult to believe considering that Debswana''s 2004 production increased an estimated 8% to $2.6 billion
(31 million carats).
Reacting to industry speculation of an upcoming De Beers Diamond Trading Co. (DTC) price hike, the company has issued the following
statement:
"We have advised our clients that, from the January Sight, DTC will implement a necessary price rebalance to reflect the dynamics of the market and to address the effects of the weak dollar. The average outcome of this will be a 3% increase which will, of course, vary from box to box."
From Rapaport News, Friday, January 07, 2005:
--- DTC Prices to Increase 3% at January Sight
De Beers Diamond Trading Company (DTC) has informed sightholders that rough diamond prices at next week''s sight (January 10-14) will rise on average by 3%.
According to one sightholder, the total value of the DTC''s first sight of the year will be around $750 million. He anticipates that the allocations will be full of goods from Botswana, which he said De Beers has in stock. This is not difficult to believe considering that Debswana''s 2004 production increased an estimated 8% to $2.6 billion
(31 million carats).
Some sightholders think the 3% hike will only affect goods not typically sold in the US but in places where diamonds have become cheaper because of the depreciating dollar. They don''t expect prices to go up for browns and natts, but more information will be available only when they see their allocations next week.
This 3% hike is over and above the 2% charge on the value of the sight box to cover the DTC''s promotional expenses. The latter rise is expected to be implemented in June or July this year.
Reacting to industry speculation of an upcoming De Beers Diamond Trading Co. (DTC) price hike, the company has issued the following
statement:
"We have advised our clients that, from the January Sight, DTC will implement a necessary price rebalance to reflect the dynamics of the market and to address the effects of the weak dollar. The average outcome of this will be a 3% increase which will, of course, vary from box to box."
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