Surat: The DTC, the company of De Beers Group, the world’s largest rough diamond supplier, opened its June site today. Rough diamond prices have risen by 5 to 7 per cent. Prices of African, Canadian and Australian rough are rising after the US ban on Russian rough. The diamond industry’s vacation will end on June 13 in Surat, the hub of diamond manufacturing. Then this price will have an additional effect.
- DTC raises the price of rough diamonds by 5%
- After the end of summer vacation, the effect of price increase will be seen in Surat’s diamond market
- Experts believe that the situation in the diamond market will not be good after the vacation
- After August, the market will improve in Lagnasara, Diwali, Christmas
However, even during the vacation this year, 30 per cent diamond factories were running in Surat. There will be no good days for the market after the summer vacation as short supply of Zimbabwean roughs emerges with the discontinuation of cheap roughs from Alrosa. Experts say that after the month of August, the market will rise during the festive, wedding, Diwali and Christmas seasons. The prices of small diamonds used in jewelery have gone up. The effect will be seen in the market of Surat.
Sources in Surat Diamond Industry said that the price of small size rough diamonds used in small jewelery has gone up. This is due to the increase in demand. The price of premium rough is the same as before. So it doesn’t seem to have a long lasting effect.
Let me tell you that the serious effects of the war between Russia and Ukraine (RussiaUkraineWar) were seen on the diamond market of Surat. About 30% of the rough imported into India comes from Russia. The diamond industry in Surat was in trouble after the US banned the purchase of Russian diamonds in the wake of the war. Businesses were down. Now, with the DTC raising prices by 5 to 8 per cent, small diamond industrialists are once again in trouble.
