Diamond Market Update (March 8, 2013)

Rough diamond prices rose in February, with increases reportedly ranging from 4 to 6 percent. However, for very large diamonds, such as those over 15 carats, prices increased by 12 percent or more. Sightholders found increased prices on the boxes at De Beers’ February sight, Rapaport reported. That was also the case at BHP Billiton’s (NYSE:BHP,ASX:BHP,LSE:BLT) tender.

Meanwhile, polished diamond prices have not increased accordingly. One-carat diamond prices crept up only 0.2 percent in February, according to the RapNet Diamond Index. A more significant 2.7-percent increase was seen for 0.3-carat diamonds. However, 3-carat diamond prices fell by 0.2 percent. The demand picture has shown some signs of improvement, and larger and higher-quality goods are moving better. There still seems to be a shortage of oval-shaped goods.

Also, Diamcor Mining (TSXV:DMI,OTCQX:DMIFF) announced the filing on SEDAR of its financial statements for the interim period ended December 31, 2012.