DiamondBuzz
Diamond market roundup: Domestic and overseas demand increasing, Chinese buyers slowly returning
United States:Trading steady amid shortages in select categories. Market still memo-centric, with little inventory-buying. Retailers seeking 2.50 to 2.99 ct., F-H, VS-SI, rounds and fancies with no center black, paying premiums due to goods’ scarcity. Melee in demand. US February inflation better than expected at 2.8%.
Belgium:Mood improving following Hong Kong show. Dealers cautiously optimistic, as goods are starting to move. Large stones in short supply. Belgium polished exports for February down 24% year on year at $783.7 million, with volume declining 20% to 297,700 cts.
Israel:Market sentiment more positive after dealers report sales of 3 ct. and larger diamonds at Hong Kong show. Low inventories supporting prices, with some price increases in fancy shapes.
India:Manufacturers reporting better Hong Kong show than anticipated, boosting market mood. Domestic and overseas demand increasing. Chinese buyers slowly returning, especially for small goods, but quantity of purchases still limited. Polished production remains low, supporting prices and sales.
Hong Kong:
Industry reflecting on show, which beat expectations but was slow relative to pre-pandemic times. Many Indian trade buyers. Dealers following up on sale leads. Fair attracted purchasers from around the world, but few Chinese clients present. Demand was very specific, with exhibitors holding prices firm amid high replacement costs.
DiamondBuzz
De Beers Cuts Diamond Production But Sees Sales Rise
The Main Reasons For The Drop Were Planned Repair Work In Botswana and Slower Operations At Its Venetia Mine In South Africa. Demand For Diamonds Grew In The US and India.
De Beers produced 11% fewer diamonds in the third quarter of 2026 compared to last year, bringing total production down to 6.8 million carats. The main reasons for the drop were planned repair work in Botswana and slower operations at its Venetia mine in South Africa before it temporarily pauses production for two years.
Despite lower production, overall diamond trading improved. Demand for diamonds grew in the US and India, and the market became better balanced. However, lab-made diamonds continued to hurt sales of cheaper natural diamonds.
Production Highlights by Country
Botswana: Down 20% to 4.8 million carats due to maintenance at the Orapa mine.
South Africa: Down 37% to 418,000 carats as the Venetia mine slowed down.
Namibia: Up 8% to 495,000 carats.
Canada: More than doubled to 1.06 million carats because the Gahcho Kué mine processed higher-quality ore.
On October 16, De Beers took full ownership of Canada’s Gahcho Kué mine after taking over its partner Mountain Province’s 49% share. Starting in the fourth quarter, De Beers will report all production from this mine on its own books. This will raise De Beers’ official production numbers, but it will not change the overall amount of diamonds in the world market.
Sales Revenue: Reached $731 million for the quarter, up 4% from $700 million last year.
Sales Volume: Nearly doubled to 8.7 million carats, up from 4.6 million carats a year ago.
Even though sales volume went up, the average price De Beers received per carat so far this year fell 37% to $97. This was caused by an 18% drop in overall rough diamond prices and the fact that De Beers sold a higher proportion of cheaper diamonds this year.
Because De Beers now owns 100% of the Gahcho Kué mine, it raised its full-year 2026 production target to 25–28 million carats (up from 21–26 million). It also lowered its expected production cost from $80 to about $70 per carat. The company said it will keep watching market demand and adjust its production as needed.
-
BrandBuzz12 minutes agoThe Solenne Collection: A Celebration Of Diwali By Bharti Bangur Fine Jewels
-
BrandBuzz1 hour agoMadanji Meghraj Jewellers Presents ‘Diwali Luxe’, Celebrating Tradition and Modern Elegance
-
JB Insights4 hours agoIndia’s Major Retail Jewelers See Double Digit Revenue Growth
-
National News4 hours agoPrecious Metal Futures Continued Their Downward Momentum
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.