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Market NewsCommentROUGH MARKET

ROUGH MARKET

De Beers, Alrosa, BHP Billiton and Rio Tinto reportedly all pushed prices of rough higher this month, despite a general feeling in the market that rough is overpriced. Some traders said the price hikes made the market vulnerable to a sudden set back to correct the weak situation of polished in the Commercial and cheaper end. Premiums on DTC boxes in the better end, where De Beers raised prices, have reportedly come down this week. Rio Tinto raised prices for its cheaper Argyle goods despite weak trading conditions for cheap goods. Traders said the increases were aimed at bringing prices closer to the original contract price of the Argyle contracts. These were lowered due to a market set back in 2006 to provide relief to clients.

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