DiamondBuzz
De Beers Sightholders report shortages of large diamonds
Rough diamonds above 5 carats were in tight supply at this week’s sight, customers reported, with explanations ranging from production cuts to ’ strategy of withholding supply. The February trading session saw stable prices in the vast majority of categories, as the miner maintained its policy of not flooding the market, insiders said this week.
The lack of large stones has puzzled some, since De Beers is reportedly sitting on $2 billion of inventories, its largest since the 2008 financial crisis. Many market insiders viewed it as a positive that these sizes were hard to find, reflecting that the categories had sold better in the past few sights. The resultant polished — mostly 2 carats and larger — has performed better in the recent downturn than 0.30- to 2 carat goods.
Some point to a tactical effort by De Beers to limit supply — either to protect the market or to reward sightholders that purchase less sought-after items.
SOURCE: RAPAPORT
DiamondBuzz
China and African Heavyweights Unite In Powerhouse Pact To Reshape $100b Natural Diamond Industry
Signed In The Chinese Capital, The Newly Minted Beijing Declaration Unites The Shanghai Diamond Exchange (SDE) With Official Delegations From Botswana, Namibia, and South Africa.
In a major push to breathe new life into the luxury market, African diamond-producing giants and Chinese trade leaders have forged a strategic pact aimed at rekindling consumer passion for mined gems.
Signed in the Chinese capital, the newly minted Beijing Declaration unites the Shanghai Diamond Exchange (SDE) with official delegations from Botswana, Namibia, and South Africa. The agreement establishes a direct bridge between Africa’s rich mineral reserves and China’s massive retail sector, prioritizing ethical sourcing, cultural value, and long-term market growth.
Key Highlights of the Pact
- Direct Supply Connections: The SDE will act as the primary conduit, streamlining customs, taxation, and authentication to funnel African natural diamonds directly into Chinese retail channels.
- Focus on Value & Provenance: With Chinese buyers shifting toward items that offer emotional resonance, cultural depth, and enduring worth, the campaign highlights the authenticity and origin of mined stones over lab-grown alternatives.
- Socioeconomic Alignment: Co-designed around the UN Sustainable Development Goals and the African Union’s Agenda 2063, the initiative aims to ensure diamond revenues directly support economic development in African mining communities.
The high-stakes event drew heavyweights from across the global trade, including De Beers CEO Al Cook, Natural Diamond Council CEO Amber Pepper, and World Diamond Council representative Emma Wade-Smith, signaling a unified global effort to safeguard the future of the natural gem market.
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