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India's natural diamond rough imports dropped sharply in October, and diamond prices may receive greater support!

2023-12-28 09:32:35

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India is a midstream country in the diamond industry and is responsible for 90% of the world's diamond cutting work. Therefore, rough diamonds are its "raw materials" and loose diamonds can be regarded as its "products". Although the GJEPC October report has not yet been released, some Indian media have already provided several important sets of data.

India is a midstream country in the diamond industry and is responsible for 90% of the world's diamond cutting work. Therefore, rough diamonds are its "raw materials" and loose diamonds can be regarded as its "products". Although the GJEPC October report has not yet been released, some Indian media have already provided several important sets of data.


During the period from October 1 to 15, India's total rough import volume was 3.837 million carats. After the industry-wide suspension of rough imports, the total rough import volume in the second half of the month (16-31) was only 1.446 million carats, a 62.3% decrease from the first half of the month. (Note: Imports in the second half of the month are all orders placed before the purchase suspension was implemented)

  ▲ Natural diamond rough price changes chart  

"The quantity of bulk cargo dropped from 758 packages in the first half of the month to 328 packages in the second half of the month." - India's "Economic Times"


From the data point of view, the effect of the suspension of imports is very obvious, so some reports believe that the prices of rough and polished diamonds will receive greater support as a result. Although the industry has not seen a rapid recovery of the market, and the "eating effect" of lab-grown diamonds still exists, there is hope that the price of natural diamonds will stop falling. In addition, the "Natural Diamond Rough Price Index" produced by Paul Zimnisky also shows (as shown in the figure below) that rough prices also rebounded slightly after the purchase suspension began.



Since diamond giant De Beers monopolizes the natural diamond industry chain, the weak demand for natural diamonds can also be felt through its performance. In August, De Beers’ seventh sales cycle this year, the company sold $370 million in natural diamonds, a year-on-year decrease of 42% and a month-on-month decrease of 10%. This was also the company’s fourth consecutive month of sales this year. decline.

The reason behind the plunge in diamond prices, in addition to changes in the macroeconomic situation, is that another important factor is that lab-grown diamonds, a perfect substitute for natural diamonds, are eroding the market share of natural diamonds. And its biggest advantage is that the price is much cheaper. Ankur Daggar, CEO of the American jewelry company Angara, said that three years ago, the price of lab-grown diamonds was about 20% to 30% lower than that of natural diamonds. Now, with the reduction of manufacturing costs and the improvement of production efficiency, the price difference between lab-grown diamonds and natural diamonds has widened to about 75% to 90%.




High Light Intelligence Technology







High Light Intelligence Technology has been engaged in the production and research and development of diamond materials for seventeen years and has its own diamond factory. In 2020, the advantages of CVD lab-grown diamonds have gradually become more prominent. The company has successively established a research and development department, carried out strategic cooperation with scientific research institutes and universities on equipment, semiconductors, diamonds, etc., invested in and cooperated with Stella Creations, an Indian CVD production factory, to create a production line starting from MPCVD machines. , R&D, CVD diamond growth, R&D, sales, complete sales chain of brand effect. With MPCVD technology as the core, we have long been committed to the R&D and manufacturing of high-quality diamond materials and related equipment. We have advanced MPCVD equipment, laser processing equipment and precision polishing equipment.




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India's natural diamond rough imports dropped sharply in October, and diamond prices may receive greater support!
India is a midstream country in the diamond industry and is responsible for 90% of the world's diamond cutting work. Therefore, rough diamonds are its "raw materials" and loose diamonds can be regarded as its "products". Although the GJEPC October report has not yet been released, some Indian media have already provided several important sets of data.
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