Tender Report June 2022

The mood amongst customers attending the June event continued to be positive as the industry faces the reality of reduced rough supplies and a consumer market that appears, from the perspective of our industry to be weathering the economic uncertainty relatively well.

Early reports from the JCK Show in Las Vegas would indicate stable demand throughout May despite high levels of inflation, sluggish stock markets, and high interest rates, and polished prices have levelled out in anticipation of supply shortages due to Russian sanctions.  This situation coupled with the Chinese market coming slowly out of Covid 19 lockdowns has driven a cautious optimism amongst manufacturers for the second half of the year.

De Beers are believed to have raised the price of smaller sizes by between 5-7% as Alrosa cancelled recent sales.  Demand in these ranges remains very strong. ODC are also reported to have sold strongly.

Following a successful PR visit to Israel in the past 14 days, TAGS were delighted to welcome several new registrations and attendees from Israel as the number of manufacturers from this market continues to grow.  We would also like to thank the members of the Israeli Diamond Exchange for their warm welcome during our time in Tel Aviv.

Trans Atlantic Gems Sales welcomed in the region of 140 companies to its June Tender in Dubai, presenting approx. $35.00m of its regular Southern African productions.  The sale included more than 100 Single Stones +10ct.  There was a high level of interest to view goods and there is clearly an appetite to secure rough. However, for the time being prices offered have not become overly speculative as we saw in the early part of this year and remain realistic when considered against current polished values.

We secured sales to 62 internationally based companies and approx. 70% of the goods presented were sold.

Our next Tender in Dubai is from 13th-19th July 2022