US Polished-Diamond Imports Increase

RAPAPORT... Polished-diamond imports to the US grew in September,according to government data.Shipments into the country increased 10% year on year to$1.95 billion, the third consecutive monthly rise, even as import volume dropped19% to 902,000 carats, figures showed. The average price jumped 35% to $2,157per carat. Polished exports slid 3% to $1.66 billion, while netpolished imports - representing imports minus exports - grew to $283 millionversus $66 million during the same period a year ago. Rough imports declined 16% to $49 million, and rough exportsdecreased 19% to $29 million. Net rough imports fell 12% to $20 million. Thenet diamond account - calculated as total rough and polished imports minustotal exports - more than tripled to $304 million compared to $89 million for thesame month last year. In the first nine months of the year, polished imports grew6% year on year to $17.63 billion, with polished exports up 8% to $15.07billion. Net polished imports slipped 1% to $2.57 billion. Rough imports for the nine-month period ending September 30dropped 25% to $461 million, while rough exports fell 31% to $385 million. Netrough imports climbed 46% to $76 million. The US net diamond account for the firstnine months slipped 1% to $2.64 billion. Image: New York's diamond district. (Tdorante 10)