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Diamond Market Shows Serious Cracks From Man-Made Stones
mercredi 24 avril 2024, 17:25 , par Slashdot
It is not enough. While rough stone inventory has stabilised of late, polished diamond stocks remain high. At more than $20bn at the end of 2023, these were near five-year highs, up a third since the end of 2022, according to Bank of America. Worse, as LGDs have taken market share, their prices have declined too, to about 15 per cent or less of their natural counterparts. Diamond miners spent years maintaining that romantic buyers would prefer the allure of rare, natural stones. It increasingly appears they were wrong. Synthetic diamonds are nothing new, having appeared about 70 years ago mostly for industrial purposes. But in the past decade LGDs have taken off. In 2015, LGD supply barely featured as a rival to natural stones. By last year it was more than 10 per cent of the global diamond jewellery market, according to specialist Paul Zimnisky. This has created a competitive frenzy among producers. LGDs' lower costs have enabled them to slash prices. In October, WD Lab Grown Diamonds, America's second-largest maker of synthetics, filed for bankruptcy. It has since had to shift its business away from retail towards industrial customers. Read more of this story at Slashdot.
https://slashdot.org/story/24/04/24/1529240/diamond-market-shows-serious-cracks-from-man-made-stones...
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