Belgium Focuses on Rough Buying in August

Diamond traders in Belgium's diamond center stocked up on rough diamonds in August, importing much more goods than exporting, according to data released by the AWDC.

Antwerp was officially on vacation, which didn't prevent some from buying rough.

Imports of 7,702,625 carats worth $781.8 million were a 16.7 percent year over year increase in volume and a 51.7 percent increase in value.

Exports of 6,168,582 carats worth $555 million were 21.3 percent year over year increase in volume and a 37.9 percent increase in value.

This left a net of 1,534,043 carats worth $226.8 million in the trading center.

While August was a slow trading month for rough, all major producers held sales weeks this past month and prices continued to inch up in a number of  categories. While trading in August was, as expected, well below the monthly average for the year, it demonstrated an understanding in the market that interest in rough will only grow in the coming weeks.