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Diamond markets depressed on Russia sanctions, China sluggishness

Diamond markets remain depressed, as the prospect of possible G7 sanctions on Russian diamonds looms and disappointment that China's post-lockdown bounce-back hasn't happened. .

De Beers reported a 20 per cent drop in rough sales at cycle 4, blaming slow demand in China. It also cancelled auctions in response to poor sentiment among buyers.

Petra suffered sharp drops in both revenue and prices at its May tender and held back parcels of over 75,000 carats because of weak demand.

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