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FT: De Beers’ diamond output drops
| Drunken site | 05/07/24 |
| Drunken site | 05/07/24 |
| Drunken site | 05/07/24 |
Poast new message in this thread
Date: May 7th, 2024 2:03 PM Author: Drunken site Diamond output for De Beers slumped 23 per cent in the first quarter, as production was cut in response to a slow recovery in demand amid a pullback in luxury spending and the proliferation of lab-grown equivalents.
De Beers was the only unit of Anglo American to adjust its full-year production forecast on Tuesday, reducing its guided range to 26mn to 29mn carats of output, from 29mn to 32mn, and lifting expected average costs to $90 per carat, from $80.
Anglo American said the diamond market was suffering from a price rout caused by excess piles of inventory, something that De Beers has previously acknowledged is partly down to lab-grown diamonds cannibalising demand for mined stones.
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Date: May 7th, 2024 2:05 PM Author: Drunken site https://www.ft.com/content/ae3cb1a3-795f-41bf-8eae-5dd294c4aa1b (http://www.autoadmit.com/thread.php?thread_id=5526068&forum_id=2#47642248) |
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Date: May 7th, 2024 2:06 PM Author: Drunken site 60-70% of the world's synthetic diamonds are made in China. A good quality 1-carat diamond on Taobao is anything from 50 to 150USD. For the US, it's more like 1000USD per carat for GIA/IGI certified diamonds (try Ritani, James Allen, Blue Nile).
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