Rough diamond prices to remain under pressure.

The rough diamond market is in a difficult phase, with slowing diamond sales, falling prices and continued tight liquidity in the diamond cutting centres.
Weaker economic prospects in China have negatively impacted on the short-term outlook for the market despite the second half of the year traditionally providing better results than the first half.
The traditional Indian wedding season will also remain uncertain and unpredictable this year.
The DTC (Diamond Trading Company) sales have fallen short of its predicted Five hundred million in sales yielding only Four Hundred and Fifty million for the first two quarters of 2012.
The trading company has allowed sightholders to defer an estimated One Hundred million in rough diamond purchases for June into July.
De Beers CEO Philippe Mellier said that a scarcity in rough diamonds would drive the rough prices up and cause the luxury status of diamonds to intensify.

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