Macquarie fined by UK after metals trader books false trades
The firm’s London metals desk was able to book 426 fictitious trades to conceal his losses for almost two years.
Certified polished diamond prices fell in July following downtrend in Indian jewellery market and reduced demand in China, according to the RapNet Diamond Index (RAPI).
Diamond manufacturers are facing tight liquidity as concern about both the elevated levels of industry debt and high rough diamond prices, which result in negative cash flow.
The only bright spot, says the report, has been the US, where demand continues to be steady but selective.
RAPI for 0.30-carat rocks certified polished diamonds dropped 3.7% during the month, 3% for 0.50-carat gems, and 1.3% for 3-carat rocks.
