De Beers Lifts Prices of Smaller Diamonds

RAPAPORT... De Beers raised prices of smaller rough diamonds at its June sight in response to a strengthening market for that category.The increase was around 8% to 10% across all goods under 0.75 carats, market insiders said Wednesday. "They held back [adjusting prices] for two sights, being responsible and not wanting to jump on speculation after the Russian invasion," a source explained. "This increase was, in a way, overdue and all in all it's reasonable."Prices of small diamonds jumped late last year and have seen another resurgence in the past month. Alrosa, which is supplying fewer goods because of Western sanctions, is a major source of these items. Polished demand for smalls has increased amid concerns about availability later in the year, while rough prices for the category have also risen at auctions and on the secondary market.The sight began on Monday, June 6 and ends Friday, June 10. Image: Rough-diamond sorting. (De Beers)