Rough Diamond Imports Surge in June

Despite falling by nearly a third in volume terms, rough diamond imports to the U.S. jumped by over a third in value in June, leading to a near doubling in the average price per carat (p/c). U.S. firms imported $102 million worth of rough diamonds, a 35 percent leap compared to June 2005.

Total weight of imports sagged 31.65 percent to 55,922 carats, continuing the decline seen since April. As a result, the average price jumped 97.5 percent to $1,822 p/c from $922 p/c in June 2005.

U.S. rough diamond traders and polishers imported 30,117 carats worth $49,825,000 from South Africa, at an average of $1,654.38 p/c. Guinea, an infrequent source of rough to the U.S., supplied 722 carats worth $15,286,000, at a high $21,171.75 p/c.

Botswana and Russia, steady suppliers of rough diamonds, shipped 9,596 carats and 2,945 carats respectively. The value of imports from Botswana was $11.27 million, an average $1,174.45 p/c. Imports from Russia were worth $9.997 million, a $3,394.57 p/c average.