GemNotes

NEW DIAMOND FLOOD CONCERNS SELLERS A new onslaught of small diamonds from Russia has renewed concerns among Indian diamond manufacturers about whether De Beers will continue to support that end of the market. Indian manufacturers say sales of Russian rough diamonds under 11 points increased greatly in November, with goods priced as much as 15% below comparable De Beers rough. In addition, dealers say even more Russian rough, also priced well below market, is coming from several large dealers in Antwerp. De Beers lowered prices of such goods by as much as 11% starting with its November allocations. Now the Indian trade worries prices may fall even more if De Beers doesn't intervene. The situation has renewed speculation that De Beers might adopt a two-tiered market system, supporting the market for larger diamonds while letting the melee and smaller goods float with supply and dem
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