Subdued Rough Diamond Trade in The U.S.
Posted in News by Admin on November 16th, 2009
Rough diamond imports by the U.S. remained low in September. U.S. gross rough diamond imports totaled $22.09 million on imports of 14,142 carats, an average value of $1,562.28 per carat. Net imports stood at $6.41 million.
The U.S. exported $15.69 million worth of goods weighing 49,508 carats, as it exported lower value goods averaging $316.85 p/c.
Both imports and exports are far below last year’s figures, on the heels of the economic crisis that brought down rough diamond prices as well as consumer spending on diamond jewelry. Compared to August 2009, imports rose 51.6 percent by value, but fell 43.9 percent in volume. The average value of imports in August was $577.63.
Net imports rose 39.6 percent by value and 35.5 percent by value, maintaining the traditional rise in rough loose diamonds in September compared to August.
South Africa continued to be the leading source of rough diamonds to the U.S., supplying it with some $7.3 million worth of goods averaging $4,062.31 p/c. Botswana was the source of $4.3 million worth of goods and Angola shipped rough diamonds with a stated value of $3.69 million.
Nearly half of the rough diamond exports, $6.95 million, were to the UAE. Most of the rest were shipped to India and Israel.
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