Diamond Prices Slump as Sentiment Takes a Hit

Rapaport reported that diamond prices slumped in July on the back of the lowest market sentiment seen since 2008. The period saw manufacturers turn away large amounts of rough supply as “trading and manufacturing activity plummeted.”
As quoted in the market news:

Rough prices are unsustainable due to the significant gap between rough and polished prices, and are likely to fall as sightholders are preparing to refuse unprofitable rough again in August.
Meanwhile, polished prices fell as manufacturers felt pressure to reduce inventory levels amid sluggish Chinese demand and stable but cautious U.S. demand.

Click here to read the full Rapaport report.