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The goods were then shipped to Antwerp and traded before transportation to the factories, with the average rough diamond changing hands four or five times before being cut and polished, one dealer told Rapaport News Antwerp still remains the most important rough trading hub, and has maintained its critical mass of rough activity, as noted in the May issue of the Rapaport Research Report Who's buying production? These trends are evident in the locations of the major buyers of rough diamonds, as presented in the following pages of this report.
Most junior and midsize miners sell via spot auctions or tenders, whereby buyers compete for rough in a bidding process Only De Beers, Alrosa, Rio Tinto and Dominion Diamond Mines - which account for an estimated 70% of global supply volume - have the scale of production that enables them to guarantee a scheduled, consistent supply of rough to a set group of clients Along with the 18 Rio Tinto Select Diamantaires and 26 companies buying from Dominion on a consistent basis, these manufacturers represent the premium buyers of rough on the market.
How they buy and trade rough and sell the resulting polished sets the tone of the diamond market, and determines the path along which the diamond takes in its journey along the pipeline. . More
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