Tender Report January 2022

The first sales event of 2022 took place between 19th – 25th January.

The strong rough demand and positive sentiment within the midstream which was present in the final quarter of 2021, has continued its surge into the New Year.

This has come as a result of positive polished sales in the major consumer markets over the Christmas period coupled with a limited availability of rough in the markets.

While we saw strong rough demand across the full range of quality and sizes there remains a particular focus on the cheaper ranges.

The Tender attracted record demand for bookings to view our Southern African productions and we welcomed close to 200 companies from all the leading centres.

TAGS presented Approx. 30,000 carats with a value over $40m in the DDE tender facility within Almas Tower and are pleased to report 100% goods were sold to around 60 companies representing all the leading centres.

Prices achieved surpassed expectation, reflecting the strength of the rough market and the exceptionally high levels of demand.

During the week De Beers increased rough prices by around 5-10% in +3gr sizes and as much as 15% in smaller ranges.  This increase was higher than the market had anticipated, but there is still evidence of solid premiums being offered on the secondary market.

We anticipate the market to remain strong in the coming months. 

Our next Tender will take place in Dubai from 24th Feb – 2nd March 2022