Belgium Rough Diamond Prices Decline 25% YoY

Imports of rough diamonds by Belgium in July remained far below 2008 levels, according to data released on Tuesday by Antwerp World Diamond Center (AWDC). In all, rough diamond imports totaled to 9.31 million carats, worth $627.7 million were. This is a 16.7 percent decline in volume and a 44.8 percent decline in value.

A certain pickup in rough diamond trade has been registered since June, indicating a certain revival since prices tumbled from last year’s high.

The average value of imports stood at $74.49 per carat, a 25 percent decline from July 2008.

In July, Alrosa, the Russian diamond mining giant, held a sale in Antwerp. Many buyers interested in buying the Russian goods discovered their asking prices were prohibitively high.

Rough diamond exports, averaging $67.41 p/c, stood at 11.49 million carats valued at $856 million. Net exports reached 2.2 million carats worth $228.3 million.