Rough diamond price hikes this week at the Diamond Trading Company (DTC) Sight resulted in very slim premiums in the secondary market. Traders are reporting a decreased level of trading and reduced premiums on DTC boxes.

Last Wednesday the DTC informed Sightholders that prices on SI quality goods and better will rise by up to 15 percent. According to initial reports, prices ran as high as 19 percent on at least one box of 4-8 grainers.

Boxes of 5-10 carats/collection goods rose by 12 percent, while boxes of 2.5-4 carats/fine goods (resulting in mid-range H-I colors) rose by almost 8 percent at the Sight this week.

Premiums on the goods ranged from 7 percent on the high end, to list price on the low end.

The DTC did not raise prices on I quality goods and premiums on the lower quality, i.e. ‘Indian goods,’ were fairly high, fetching in excess of 15 percent in the secondary market.

Some in the market complained that De Beers “sucked out the oxygen” that the premiums provided the Sightholders in a tough market where polished prices continue to not reflect the cost of rough.

Conversely, contrary to hard times just 18 months ago, goods were not left on the table at the Sight.

The Sight is estimated at about $750 million.