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ROUGH MARKET

The rough market remains strong, although there is a clear divide between better qualities and medium to cheaper ranges. Reports that there is still enough stock in SI and lower qualities in the main cutting centre India is causing some manufacturers to warn that rough prices in these ranges will fall “drastically” if producers raise prices at this month’s sales. The trade is anxiously waiting to see if and by how much the main producers will increase prices. Some players believe De Beers will in all likelihood increase prices in larger better goods at its March 25 Sight. While prices in 5 – 10 carats are said to be high but sustainable, traders said goods of 10 carats and above are bound to see a correction if further increases are announced by the producers following the recent bull run.

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