Diamonds are plunging in value around the world. Is China to blame?

Quick Summary:

China’s demand for natural diamonds has fallen off a cliff’ amid plunging marriage rates, while its factories are churning out synthetic alternatives that are up to 90 per cent cheaper.

The Zimnisky Rough Diamond Price Index shows a particularly steep drop since an all-time high in 2022.

But many no longer want one, anyway.

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Article Details

Author / Journalist: Ralph Jennings

Category: Business

Markets: Hong KongChina

Topics: Value Newlyweds World Blame Plunging Prices Diamond China Diamonds Natural Gems

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-22 @ 18:00:17 (9 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 217 words

Reading Time: 2 minutes read

Sentences: 10 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 24582027

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