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
Russian President Putin Backs New Federal Regulations Governing LGD Labeling
Putin emphasized that stones formed by nature must remain the bedrock of the global diamond industry
Russian President Vladimir Putin has thrown his political weight behind strict new federal regulations governing how lab-grown diamonds are marketed and sold, signaling Moscow’s determination to shield its mined diamond sector from synthetic competition.
Speaking at the Russia-Africa summit in Moscow, Putin aligned himself with Finance Minister Anton Siluanov, emphasizing that stones formed by nature must remain the bedrock of the global diamond industry,
Addressing arguments from synthetic producers—who frequently contend that lab-grown stones are indistinguishable from mined gems in appearance and quality and therefore warrant comparable pricing—Putin pushed back against equating the two products.
He defended the Kremlin’s regulatory intervention, arguing that because synthetic stones are man-made, authorities are justified in prohibiting sellers from labeling them as diamonds in the literal sense of the word.
The president’s remarks reinforce a sweeping regulatory overhaul codified under Government Resolution No. 657. Taking effect on September 1, the rules mandate that all lab-grown stones be explicitly marketed as “faceted synthetic diamonds.”
Beyond renaming the category, the decree strips synthetic sellers of traditional luxury jewelry terminology. Retailers and manufacturers are barred from using the Russian word for “brilliant,” applying standard color and clarity grading scales, or deploying marketing descriptors such as “precious,” “genuine,” “natural,” “mined,” and “eco-friendly” when promoting lab-grown gems.
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