Analysts predict a decline in prices for diamonds in the world in the first quarter
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The document, citing data from the Rapaport pricing agency, notes that the South African company De Beers, which, along with Alrosa, is the world’s largest diamond producer, has already reduced prices. The cost of diamonds over 2 carats has been reduced by 10%, the price of stones of 0.75–2 carats has also been reduced, but only slightly. At the same time, prices for diamonds smaller than 0.75 carats rose by 10%, Rapaport reported.
Renaissance Capital notes that this is the first major price adjustment for rough diamonds since early 2022, when they were raised by 8-10% by De Beers and Alrosa on the back of stable demand for polished jewelry and rough diamonds. Since then, diamond prices have remained stable. At the same time, diamond jewelry demand also “remained weak” in 2022, with diamond prices down 20% from their peak in March 2022, the report says.
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