Market Comments
Post Date: 26 Jul 2010 Viewed: 395
Trading centers are quiet as summer vacations approach in Israel and Belgium. U.S. retailers buying very selectively for Christmas season with moderate expectations for next week's NY show. Indian retail demand steady. De Beers forecasts slower recovery in 2H as DTC July sight begins. BHP Billiton 4Q production -18% to 740k ct. Petra Diamonds FY’10 revenue +88% to $178m, production +6% to 1.164m ct. Gem Diamonds 1H sales flat at $105m, Letseng mine prices +32% to $1,728 / ct. India’s June polished exports +79% to $2.2b, rough imports +45% to $1.2b. Shear Minerals to buy Jericho mine.