Editor’s Note
The natural diamond market is facing significant price pressure as lab-grown alternatives gain consumer favor. This report details how industry leader De Beers has sharply reduced prices for certain rough diamonds in response to shifting demand.
Bloomberg reported on the 3rd (local time) that the price of natural diamonds is plummeting as demand increases for relatively inexpensive lab-grown diamond rings.
According to the report, De Beers, a global leader in the diamond industry, has lowered the price of diamond rough suitable for processing into higher-value ‘Select Makeables’ grade gemstones by about 40% over the past year.
Industry insiders stated that considering De Beers has historically avoided significant price cuts, the price decline over the past year is at an unusual level.
