TAGS Sells $30m of Rough amid 'Extraordinarily Strong Demand' idexonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from idexonline.com Daily Mail and Mail on Sunday newspapers.
Rough Demand Still Extremely High , says TAGS March 09, 21 by John Jeffay
(IDEX Online) - Demand at a series of rough tenders in Dubai was extremely high , said Trans Atlantic Gem Sales DMCC (TAGS) as it sold the vast majority of 72,000 carats on offer.
Total proceeds from 24 February to 3 March were down slightly from the January tender, which raised almost $60m from the sale of all 87,000 carats offered.
TAGS said it presented gems from Southern Africa a
nd Angola worth a total of $55m and sold 96 per cent. Goods offered included over 155 stones over 10 carats.
Despite some ongoing Covid travel issues, 175 buyers - mostly from India - attended the tenders at the Dubai Diamond Exchange. Two extra days were added to cope with demand.
RAPAPORT. Dubai has become something of a focal point for the diamond industry during the pandemic. While the United Arab Emirates (UAE) imposed a lockdown in the spring of 2020, the country has been more open than many since easing its restrictions in the summer. This, combined with being.
Dubai Rough Tender Prices are Highest Since Pandemic idexonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from idexonline.com Daily Mail and Mail on Sunday newspapers.
RAPAPORT. The largest rough-trading centers face a busy January as adaptations have enabled them to continue holding sales events during the pandemic.
Antwerp and Dubai will host 14 rough tenders between them this month, after 2020 proved relatively strong despite the coronavirus outbreak. Technology has allowed sellers to offer goods remotely. At the same time, rough prices at tenders were lower than those at large miners’ contract sales for much of last year, attracting buyers that were looking to meet specific demand.
“Antwerp’s diamond office [the customs center] remained operational [during Covid-19], and there was constant consultation with shipping companies and airlines to ensure goods could continue to be shipped,” a spokesperson for the Antwerp World Diamond Centre (AWDC) said Monday. “We have an unrivalled critical mass of buyers and sellers that enable true market value for rough productions.”