De Beers Calls for 4.5-percent Rise in Polished Diamond Demand

Agence France-Presse reported that according to major miner De Beers, global demand for polished diamonds is poised to increase by up to 4.5 percent this year. Gains are expected to come on the back of a US market recovery and buoyancy in India and China.

As quoted in the market news:

‘The largest global market for diamond jewellery is the United States and everyone knows they are taking off again,’ said Mellier.

‘When stocks and real estate pick up like they’re doing today after the big crisis, there’s more money floating around and the Americans spend.’

The second-largest diamond consumer, China, together with Hong Kong and Macau, accounts for up to 13 percent of global demand.

‘More and more Chinese are achieving the buying power to acquire jewellery and diamonds especially when they get married,’ said Mellier.

Click here to read the full Agence France-Presse report.