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Slowdown in diamond sector continues in July

There was a decline for rounds during July, and of mixed fortunes for fancies. Rounds saw wholesale losses in some sizes in most sizes above 0.80-cts, more so than in previous months.

India's polished exports slipped by almost a third in June, and half of all diamond workers there are reportedly on reduced wages. Manufacturers are switching to lower-priced fancies, or to ever-cheaper lab growns to maintain production.

All the main trading centres remain quiet, as buyers keep a lid on their inventories and wait for things to pick up. There are, however, few signs of an imminent end to the global recession, Ukraine war or sanctions anxiety.

Source: idexonline

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