The second International Rough Diamond Week (IRDW), held at the Israel Diamond Exchange (IDE) from April 12 to 16, has been a great success, the IDE said in a statement.
All five participating companies – leading diamond producers and rough suppliers – reported that their tenders and auctions have been oversubscribed, with waiting lists longer than expected.
"With all due respect to our industry, without a significant supply of rough, we won't make progress. Therefore, we have invited the leading rough suppliers, miners and companies that specialize in tenders and auctions, to come to Israel, to offer Israeli companies direct access to a huge selection of rough goods. The response of the market has been fantastic and we are already planning for a next edition of the International Rough Diamond Week," Schnitzer stated.
"All participating companies reported that their tenders and auctions have been oversubscribed and that the viewing booths were busy from the early morning to the late afternoon. In Israel, we can successfully manufacture some 50 percent of the polished goods we sell. We manufacture larger diamonds in Israel, especially of two carats and up and the Israeli market holds a leading position in these categories," he said.
Juwal, pictured below, added that the quantities that are offered for sale during the event were the largest ever offered at a single location.
The companies offering rough goods by tender and auction during the second International Rough Diamond Week are ALROSA, De Beers Auction Sales, Fusion Alternatives, Rio Tinto Diamonds and Tzoffey's 1818.