The Diamond Trading Company's (DTC) May sight had an estimated value of $520 million, roughly the same value as the previous sight in March, but a 25% drop from this sight period of one year ago. Rapaport estimates indicate that DTC sales fell 16% year on year during the first four months of this year. De Beers earlier reported that production in the first quarter fell 16% to 6.2 million carats. DTC made slight adjustments on pricing by increasing some boxes while decreasing others at this offering. Sight participants were less enthusiastic since there is no room for rough price increases at the moment as so many firms are not really making money. Sightholders also noted that there is relatively little activity in the secondary markets and DTC boxes are trading at low premiums of around 3% to 4%. There is some demand for Indian goods but no category stands out as particularly strong.
source: http://www.diamonds.net/
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