Can't sell! De Beers lowers prices again after a year
The world's largest diamond producer, De Beers, announced on Monday that it is lowering diamond prices. Since peaking in 2022, the diamond industry has been facing one of the most severe and prolonged crises in modern history, influenced by factors such as a slowdown in luxury consumption in major consumer countries and the increasing popularity of lab-grown diamonds. Additionally, the United States imposing tariffs on India, the world's largest diamond exporter, has further exacerbated the industry's challenges. (Yicai)
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