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De Beers reduces smaller rough diamonds prices

De Beers reduced prices for smaller rough diamonds at this week’s sight, though manufacturers say the adjustments aren’t enough to ease their profitability challenges.

The miner cut the price of 3-grainer (0.75-carat) and smaller goods by 4% to 6%, market insiders told Rapaport News Tuesday. In 4- to 6-grainers (1 to 1.5 carats), the price decline was around 4%, they estimated.

Prices of 5- to 10-carat rough increased slightly, though this partly reflected modifications to the assortments, they added. Like-for-like price movements are hard to estimate because changes to the product mix can skew them, the sources cautioned.

The miner’s prices of 3-grainers and smaller rough have remained relatively high in recent months. The polished diamonds they produce survived better than the rest of the market during last year’s industry-wide downturn. As a result, De Beers had left prices for this category mostly untouched for a while.


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