DTC Hikes Prices in Response to Rising Market Prices

The Diamond Trading Company (DTC) announced an average price increase of about 3.5 percent for the upcoming Sight, the fourth this year, to begin Monday. Together with previous price hikes by the DTC, the cumulative average affect is an 8.5 percent increase in rough diamond prices since January.

The DTC said the hike will mostly affect nicer goods that result in IF - SI clarity polished diamonds.

Sight four is the first Sight this year that will not include those not selected for the new contract period. On Tuesday, the DTC is expected to publish the new Sightholders list for the 2008-2011 period. The publication was delayed by a number of weeks after questions were raised regarding statements made in the applications by a few companies that passed the Sightholders selection process.

The Sight will run through Friday.