Diamond dealers are bracing for a sharp decline in certain areas of rough diamonds sold from De Beers’ London-based Diamond Trading Company (DTC).
The decline is as a result of the company’s agreements with producer countries – Botswana, South Africa, Namibia and Canada - that want to sell their diamonds locally and more independently.
An indication given by DTC to clients in London this week shows that top colored goods will be worst affected. DTC forecasts that over 50% of global availability in these better end ranges will be offered to producer countries.
Sharp declines are also forecast in ‘Commercial Medium Fancy’ ranges, where DTC predicts 40 – 50% of global availability will be offered to producer countries.
Cheaper goods, such as colored and brown clivage, rejections and commercial low, are currently not affected in London, DTC said.