Polished diamond market calm, rough diamond prices remain high

The finished product market is quiet in the off-season. Jewelry retailers are optimistic about the market in the second half of the year, despite U.S. inflation hitting a high of 9.1% in June. The primary market price of rough diamonds remained stable at the note fair.

The processing layer competes to purchase rough diamonds from responsible sources, but due to material shortages, the demand for polished diamonds is low, and the cutting plants reduce production. Large factories flexibly switch between natural diamonds and lab-grown diamonds according to market demand and price trends.

The Gachokué diamond mine produced 1.3 million carats in the second quarter, down 29%.

Affected by the epidemic, Chow Tai Fook's sales in the first fiscal quarter (as of June 30) fell by 3.7%, of which the mainland market fell by 2.8%, and Hong Kong, Macao and other markets fell by 11%.

Iris Van der Veken, former CEO of RJC, takes over the role of WJI (Watch and Jewellery Initiative 2030), continuing its commitment to the sustainable development of the industry.

Regional market conditions are as follows:

United States of America

Most wholesalers are on holiday, so trade is flat. Wholesale demand and prices for 3EX diamonds in carat, G-I color and VS2-SI2 clarity grades remained stable. There are currently very few bulk stock orders. In order to meet the immediate demand at the retail level of jewelry, suppliers began to agree to implement short-term consignment sales. The sales of special-shaped diamonds are good, and the demand for oval diamonds is the most prosperous. At the retail level, malls still list jewelry as one of the top-selling categories.


Sentiment is mixed, with trade activity already starting to slow ahead of the August holiday. U.S. orders underpinned the market, while the Chinese market remained calm. European buyers were cautious after EUR/USD exchanged 1:1. The brand also buys diamonds to create new jewelry collections. 1.00-1.50 carat, D-J color, VS-SI clarity diamonds sell well. Rough diamond trade remained stable during the Dyles Fair.


Major customers in the United States are on holiday, and the Chinese market has developed slowly after the epidemic, and the overall performance of the market is calm. Suppliers intentionally offloaded some of their inventories to increase liquidity, so the price of loose stone has dropped to a certain extent. Carat, G-J color, VS-SI clarity diamond sales are stable. Top special-shaped and large-grained diamonds performed well, and high-end luxury goods were in high demand. In the current competitive auction environment, it is difficult for buyers to acquire a rough stone weighing more than 10.8 carats.


During the U.S. summer vacation, the pace of trade began to slow. The industry is concerned about the global economy and the outlook for trade has become unpredictable. The Chinese and mainland markets were weak, and demand failed to recover effectively after the epidemic. Small diamonds perform better than those over one carat. The slowdown in polished diamond production is mainly due to a lack of rough diamonds and high prices.

China Hong Kong

In the off-season, the wholesale market is quiet. The retail industry in Hong Kong and the Mainland is developing slowly. Under the epidemic containment policy, tourists are scarce and the luxury industry is struggling to develop. Jewelry retailers expect consumer confidence to remain subdued in the third quarter. In the downward trend of the market, wholesalers are reluctant to purchase.

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