Antwerp Rough Diamond Exports Continue Surge in June, Polished Still Sluggish

(thediamondloupe.com) - Antwerp's diamond trade in June mirrors the trends we have seen from the diamond capital over the first half of the year 2017, with significant volume increases of lower-priced rough exports and a persistently soft polished trade. On a year-over-year basis, the volume of rough diamond exports increased for the second month in a row by more than 50% (53%) while their value rose only 24%. The volume of rough imports also surged 31% while their value lagged behind at 5%. Imports as well as exports of polished goods relinquished the value gains of May, as both tumbled 12%, while the volume of both categories fell approximately 10% (exports -8%, imports -10.5%). For the first half of 2017 (Jan.-June), the volume of rough exports have increased nearly 19% compared to the same period a year ago, while falling 1.5% in value. A similar trend is found on the import side, as rough volumes held steady at +1% while their value fell 13%. This in large part has to do with the lingering effects of India’s demonetization policy in late 2016, which caused demand for rough to tank while suppliers built up stock.