Natural diamonds hit as lab-grown demand soars

As the natural diamond industry faces a significant challenge from the lab-grown diamond, there is more bad news for the diamantaires.

For the first time, the lab-grown rough diamond prices have increased between 13-15% due to the increasing popularity of lab-grown diamond jewelry in the western countries. The diamond growers in China have grabbed the opportunity to hike the prices of rough diamonds riding on the boom in the market.

On the contrary, the prices of natural rough diamonds decreased by almost 15% in December 2024. According to the report in IDEX Online, De Beers is reportedly sitting on its largest stockpile of diamonds since the 2008 financial crisis. The company now holds an estimated $2 billion worth of diamonds. This accumulation is attributed to weak demand, particularly in China, and rising competition from lab-grown diamonds.