Eric, rough diamond prices had begun to improve late 2019, covid...

Eric, rough diamond prices had begun to improve late 2019, covid put about a 20-25% hit but since June 2020 prices have been rising with recent rises quite large. With the range of diamond prices in size, colour and quality it is difficult to put a definitive price increase but the industry sees the current market at or near the 2011 peak. In 2011 the prices dropped back 20% straight after the peak.
Back then there was an over supply of rough building that continued for the next 7-8 years that really subdued the prices.
Currently we don't have the supply levels so prices may continue to rise, though there is a feeling that manufacturing profit has dried up and it is purely a lack of supply, partially Covid driven. Would not be surprised to see a small correction sometime in the next few months.