Demand for rough diamonds increased in the January-February period, according to IDEX Online, which cited figures from Diamdel. Growth in buyer demand for the lower cost near gem quality and smalls were most pronounced.
Diamdel offered 323 lots of large diamonds, +2 carat, grainers, smalls and near gem at its first cycle of auctions for 2012, according to IDEX Online.
Of the 165 businesses bidding at the auctions, 76 bought the 300 lots that sold, IDEX Online reported. No buyer won more than 26 of the lots sold.
The greatest pick-up in demand was exhibited by Indian-based businesses, according to IDEX Online. Demand also improved substantially amongst Israel and Belgium-based businesses, with steady demand by Asia Pacific based buyers.
“All our indicators point towards a continued, broad based strengthening in demand in the coming weeks and into early second quarter,” Diamdel CEO Neil Ventura told IDEX Online.