Prices of polished diamonds passing through Antwerp began a gradual recovery in the first quarter, rising 12% year on year.

While the price of rough fell 27% over the same period, down to $72 per carat from $99 per carat a year ago, the Antwerp World Diamond Centre (AWDC) is hopeful the increase in polished will translate to rough in the near future.

“Prices…for rough diamonds remain under pressure,” the organization said last week. “At the same time, prices for polished diamonds appear to be gradually recovering. As the price of rough diamonds is largely determined by the expected yield of the polished diamonds produced from them, this is a positive signal. Whether this will also translate into a sustainable stabilization of rough-diamond prices remains to be seen in the coming period.”

Meanwhile, the total volume of diamonds traded in Antwerp, comprising both imports and exports, grew 19% year on year in the first quarter. Total rough imports by volume climbed 36%, while exports were up 4.4%. Polished imports rose 14%, with polished exports increasing 1.3%.

The AWDC first noticed a turnaround in demand in the summer of 2025, but the decline “slowed noticeably” in the second half of the year, with growth recorded again for the first time in December and strengthening in the first quarter of 2026, it said.

The organization attributed the improvement to measures it implemented last year, including a more efficient visa policy, which facilitated access for foreign traders to temporary residence visas, and the recognition of diamond cutters and sorters as shortage occupations. The Belgian government also simplified procedures for hiring specialized foreign workers. Additionally, the geopolitical tensions in the Middle East have caused the industry to seek “greater flexibility” and to consider trading in Belgium, the AWDC added.