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Rough diamonds

After offering to defer up to 50% of Sightholders' July allocations, and coupled with rejections and buy backs, the DTC Sight this week was a small one, estimated at less than $400 million.
 
The decreased supply to the market was a welcomed move by many, mostly Diamond Trading Company (DTC) Sightholders. They did not like losing 5%-15% on some of the goods.
 
More importantly, the market has no need for much rough these days, because of limited polished diamond demand.
 
DTC did not bring prices down. Some boxes are up, others are down but the general policy of "price adjustments" remains intact. From DTC's perspective, it seems, it's preferred to decrease supply than to decrease prices.