Consumer
De Beers CEO Says US Diamond Demand Shows Signs of Recovery
- India has overtaken China to become No. 2 diamond market: Cook
- Anglo wants to exit De Beers diamond business by end of year
De Beers said there were signs of a pick up in US diamond demand before Christmas, while India has overtaken China to become the second-biggest market.
The industry has been hammered by a collapse in diamond demand from China and the increasing penetration of lab grown stones. At its final sale of last year, De Beers cut diamond prices by more than 10% across the board as the world’s biggest producer abandoned attempts to put a floor under the slumping market.