(diamonds.net) - The resurgence in rough-diamond trading will persist for another two months as manufacturers fill supply shortages and retail demand rises, dealers predicted. “There’s still a gap, because demand is there, and supply is very limited and will be limited for a couple of months,” a sightholder said. Polished originating from rough bought in August won’t hit the market until mid-October, as it takes around six weeks to complete the entire manufacturing and grading process, he explained. De Beers sold around $300 million worth of rough last month and Alrosa approximately $200 million after months of low sales that have led to scarcities in certain categories, industry insiders told Rapaport News this week. Shortages have emerged in several polished categories as India’s manufacturing sector shut down from late March until late May due to the coronavirus pandemic. Those shortfalls will remain for the coming months as continued Covid-19 restrictions mean polished production is at around 30% to 60% of capacity, manufacturers said.
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