Market Analysis06/01/2021 21:00
While it is clear COVID-19 had a major impact on what will be recorded in history as one of the most difficult years ever for the global diamond industry, one thing is certain, as far as diamond trade is concerned, Antwerp managed to keep the engines running in 2020, fueled by nearly 100 rough tenders that were held in the city in the past year.
Critical Mass & Infrastructure
While trade halted for months on end in competing hubs like Dubai, Mumbai and Tel Aviv, it is remarkable that in Antwerp, trade picked up relatively quickly, with the first tenders restarting as early as June 2020. In the past decades, the trade in Antwerp moved away from the traditional bourse floors to the privacy and safety of individual offices and state-of-the-art tender facilities, which proved an invaluable advantage in keeping the business going and at the same time maintaining social distancing and hygiene measures at a high standard.