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Diamond Market Shows Resilience As Large Stones And Fancy Shapes Drive Demand

Global Sector Reports Stable Fundamentals Ahead Of Key Industry Events

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The global diamond sector is maintaining overall stability, with notable strength emerging in large, high-quality stones and fancy elongated shapes, according to the latest trade intelligence.

Diamonds in the 7–9.99 carat range are experiencing robust demand, while 10-carat-and-larger sizes â€” particularly D-Flawless rounds â€” continue to sell briskly. Smaller round stones in the 0.30–0.89 carat range are also showing signs of stabilization after a period of softness.

The Bharat Diamond Bourse in Mumbai is anticipating a market recovery following a temporary Iran ceasefire, with optimism returning among regional traders. However, manufacturers are adopting a wait-and-see approach ahead of next week’s De Beers Sight April 27–30, with a modest allocation widely projected. Indian factories are preparing for May summer closures, leading to a deferral in rough buying activity.

On the supply side, Angola has forecast an 8% increase in rough diamond production for 2025, projecting output of 15.2 million carats â€” a development expected to support broader market supply.

Fancy elongated shapes â€” including ovals, marquises, and emeralds â€” are outperforming rounds in the 2-carat-and-larger segment. High-quality marquises are commanding the highest premiums in the market, with long radiants and long cushions also facing notable supply constraints. In India, 2-carat-plus sizes are advancing, supported by sustained U.S. demand and rough shortages that are providing upward price support for polished stones.

Israel’s market is observing a temporary pause in activity due to Memorial Day and Independence Day observances. In the United States, the National Retail Federation projects $7.5 billion in Mother’s Day jewelry sales on May 10.

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DiamondBuzz

South African Task Team To Help Struggling Diamond Producers

The South African Government Has Partnered With Mining Industry Leaders To Form A Joint Task Team Aimed At Saving Jobs and Supporting Diamond Producers Facing Severe Market Pressures.

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​The quick intervention follows major disruptions in the local sector, including Petra Diamonds placing its Finsch mine under business rescue and De Beers announcing a two-year production pause at Venetia, the country’s largest diamond mine.

​In a parliamentary reply on October 26, Minister of Mineral and Petroleum Resources Gwede Mantashe confirmed that the team—which includes the Minerals Council South Africa and local diamond producers—will develop strategies to help mines survive current economic headwinds.

The immediate focus is finding practical solutions to protect operations across the entire sector, especially junior and small-scale miners who are being hit the hardest,

​Key Industry Challenges

The local diamond sector faces a combination of falling global prices, rising operating costs, and intense competition from lab-grown synthetic diamonds. Official figures highlight the severity of the crisis:

​Production Downturn: South African diamond output dropped 19.5% year-to-date through August.

​Commodity Slump: According to Statistics South Africa, diamond mining was the weakest-performing mining sub-sector in August, with output falling 23.0% in the three months ending August compared to the previous three months.

​Significant Mine Reductions: De Beers reported a 37% year-on-year drop in South African production for Q3 2026 (down to 418,000 carats) as operations wrap up ahead of Venetia’s pause. De Beers expects zero further production in South Africa for the remainder of 2026.

​Price Pressures: Lower market values and a strong South African rand reduced average tender prices at the Finsch mine from $56 to $47 per carat, making ongoing operations unviable under current conditions.

The task team will focus on measures to ease cost pressures and address global market shifts. Further details regarding the team’s specific work plan, timelines, and financial resources will be announced as proposals are finalized.

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