Morning Bites (part 2)

💎De Beers has again raised its small rough diamonds prices ~10%, Rapaport reports, citing buyers and insiders at the miner’s 2nd cycle. The increase applied to goods weighing around 0.03ct across different qualities. To recap, the company previously increased small diamonds prices by the same 10% at its January sight. In our view, the dynamics might reflect some lagged effect from the closure of Rio Tinto's big Argyle mine in late-2020 (there are no plans to reopen it) that produced mainly small-size stones. Overall, De Beers’ rough prices were still up ~3% YoY at its 2nd sales cycle in 2023, on our numbers

#diamonds
https://metals-wire.com/sector/Diamonds