Friday, Nov 21st

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Edward Denckens, president of the SBD - the Belgian Diamond Manufacturers Association - published the following overview of the Belgian diamond market in the Summer edition of the SBD's quarterly magazine "De Belgische Diamantnijverheid."

Although the late summer sun might indicate the opposite, the conditions on the market are rather unstable and even heavily clouded, as diamond traders and manufacturers are not really enjoying an indian summer. Polished prices have plummeted, especially in the larger categories, high rough prices are reducing profit margins to virtually zero, the credit crunch is hitting the industry hard and buyers seem to wait-and-see, causing confidence in the street to be rather low.

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