Trans-Atlantic Gem Sales (TAGS) says the first two months of 2025 have not seen the usual excitement in rough activity that typically characterises the First Quarter.
It, however, said the market witnessed some stabilising of price in several areas with the continuation of limited rough supplies coupled with broadly stable pricing from both De Beers and Alrosa.
Demand for goods over 5 carats was relatively strong, and TAGS also sees increased demand in the plus or minus 11 sizes.
“However, in this particular range it is predominantly dealer-based demand and a potentially speculative investment driven by a recent fall in the Indian stock market,” it said.
TAGS said the second De Beers Sight of the year was again small, estimated to be in the region of $ 225 million, and there were fewer than expected refusals, in part due to the bounce back in price of small sizes.
“That said De Beers small boxes are still believed to be around minus 5% against market price,” it said.
TAGS also said that Botswana’s Okavango Diamond Company (ODC) recently completed their sale, selling in the region of $37 million across a full range of sizes and qualities.
It said results were significantly better than the previous sale, with price increases across almost all categories.
“There are certainly indications of improvement in the rough market, however, there are no real signs of a quick and broad recovery, and conditions will likely remain challenging for the remainder of 2025,” said TAGS.
“The big issues of China and lab-grown remain, and the geopolitical situation remains increasingly uncertain.”
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
