2 weeks Ago
Surat: In yet another attempt to stabilise the diamond trade, De Beers dropped rough prices in the range of 10% to 15% in different categories. Diamond trade leaders claim that the price drop is significant compared to past reductions. The drop in rough prices will benefit the polishing industry as manufacturers can adjust the prices of polished diamonds.
With dropping polished diamond prices and high rough prices, manufacturers were facing a crisis in various categories. Various attempts are being made at different levels, from mining companies to manufacturers, to stabilise the market, which has been going through a slowdown for the past two years. An improvement was noticed in Oct 2024 exports ahead of Christmas, and it is hopeful that the conditions will improve.
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