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Can the natural diamond market regain its sparkle?

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Some think market for rough stones will bounce back as falling prices for factory produced rivals trigger profitability warnings

The market for rough diamonds for jewellery is suffering one of its worst downturns as consumers switch to factory-made stones because of the plunge in prices. But now, the direction of the $83.5bn market may be set to turn with some forecasting a recovery in rough or natural stones as lab-grown prices have fallen too far.

The winners in the newly shaped industry have been the largest producers of factory-made diamonds from China and India — as well as consumers who until now could not afford to buy the precious stones. The market is also suffering because of a slowdown in spending in China, depressing revenues at De Beers by 30 per cent year on year and prompting a warning from chief executive Al Cook in June that a recovery could be slow and “U-shaped”.

 

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