OurBuzz
Large diamonds in demand at IIJS PREMIER 2023
Demand for larger diamonds – 3.0-cts and above – is strong, say traders at the IIJS Premiere 2023
Ovals, emeralds, pears, marquise and other fancy shapes are also popular. Fancy prices have held up better than rounds – down 25 per cent drop since February, compared to 30 or 35 per cent for rounds.
Organizers of the event, the biggest industry show after JCK, are expecting $5.9bn of trade by the time the six-day event closes on 8 August
“There is a notable demand for large stones, which are carat plus diamonds, and small diamonds below 50 points,” Akshay Shah, director of sales, Solitaires at Dharmanandan Diamonds,
Buyers reported positive sentiment ahead of Diwali, in November and the wedding season from November to February.
DiamondBuzz
India LGD Sector Is Pushing Back Against Aggressive Discounting
Trade Body, Leadership Urged Traders and Brokers To Enforce Price Floors and Eliminate Undercutting.
India’s lab-grown diamond (LGD) sector is pushing back against aggressive discounting as shrinking margins squeeze manufacturers and erode industry profitability. At a September 7 meeting of the Surat Lab Grown Diamond Association, leadership urged traders and brokers to enforce price floors and eliminate undercutting.
Raw Price Shift: Polished LGD prices recently rebounded by 20% to 25%.
Discount Compression: In response to rising costs, traders scaled back buyer discounts from ~7% to a tighter 3%–4% range.
Margin Squeeze: Association President Babu Vaghani warned that uncontrolled discounting directly erodes manufacturer earnings, forcing wage cuts and destabilizing supply chain economics.
Industry Outlook
The sector faces a structural dilemma: lower consumer prices drive adoption, but severe price erosion starves manufacturers, polishers, and labor of viable margins.
Continued downward pressure is pushing skilled labor out of the market and forcing polishing units to explore alternative industries. Stabilization hinges on widespread compliance with pricing discipline across the Surat hub.
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