DTC pushes back price-increase announcement
August 15, 2008
By Michelle Graff
London—The
Diamond Trading Co. (DTC) has delayed its cumulative price-increase announcement until Tuesday,
National Jeweler has learned.
DTC spokeswoman Louise Prior said the announcement would include a price-increase figure summing up changes for the entire year.
However, she could not provide any details about the announcement, such as if it would provide price-increase information for specific diamond sizes.
The announcement originally was scheduled for
Aug. 15, before the DTC's August sight, which is set to take place the week of Aug. 18.
It is the first time the DTC has made such an announcement.
Prior previously told
National Jeweler that the cumulative price-increase data would give a "directional snapshot" for the year, and was a step the DTC chose to take at the request of its sightholders, which have seen diamond prices rise this year.
At the last sight in July, prices for goods increased an average of 5 percent across the board, with the cost of large goods increasing as much as 15 percent, according to the DTC.
Prior said the DTC bases its diamond prices on prevailing market conditions.
Right now, the company sees a strong demand worldwide for diamonds, especially larger stones, and anticipates further rough price increases this year.
"I anticipate we will probably see some further price changes this year," she said.
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