Diamond market fragile but dearth of new supply by 2018

(miningmx.com) - There are two ways of looking at the diamond market presently. On a short-term basis, conditions are still delicate. “There are some encouraging signs with rough trade through Antwerp and rough imports into India picking up in September,” said Myles Allsop, an analyst for UBS. Overall, however, the market is fragile as “… meaningful price increases appear unlikely near-term”. The other perspective is the long-sighted lens where the prospects of the diamond industry have long been trumpeted owing to a significant dearth in new diamond finds. Analysts think that by around 2018 to 2020, the lack of new discoveries will start to exert a positive influence on diamond prices.