De Beers Raises Rough Prices Again amid Strong Demand from Diamond Cutting Centers
Recently, De Beers raised prices for rough diamonds again, a move largely due to continued strong demand from diamond cutting centers. Here are some factors that may explain why diamond cutting centers are in high demand and are causing De Beers to raise prices for rough diamonds:
Economic recovery: The global economy is gradually recovering from the impact of the epidemic, and consumer confidence is gradually picking up, which has led to an increase in demand for luxury goods and jewelry. As a symbol of luxury, diamond demand has risen accordingly.
The wedding market picks up: During the epidemic, many weddings and celebrations were postponed or canceled, resulting in a drop in demand for diamonds. With the improvement of the epidemic control situation and the resumption of wedding activities, the wedding market has become active again, and the demand for diamonds has also increased.
Growth in the Asian market: The demand for luxury goods and jewelry in the Asian region, especially the Chinese market, is growing rapidly. Chinese consumers’ preference for diamonds and their increasing purchasing power have driven the growth of the global diamond market.
Scarcity and Quality: Diamonds are rare and precious gemstones with limited supply. With the gradual reduction of diamond mineral resources, the demand for high-quality diamonds has also increased accordingly, which has tightened the relationship between supply and demand and pushed up the price of rough stones.
As one of the largest diamond companies in the world, De Beers has an important influence on the price setting of the diamond market. They adjust the price of rough stones according to market demand and supply to maintain a stable and sustainable market. However, the diamond market is a complex and volatile market, influenced by other factors such as political, economic and social factors in addition to supply and demand factors. Therefore, changes in diamond prices are often the result of a comprehensive consideration of various factors.
