The smaller size stones market remains soft!
The long-term ND prices outlook remains resilient!! In a report Lucara Diamond shared their view on Diamond Market. Lucara said, the long-term natural diamond (ND) prices outlook remains resilient due to favourable supply and demand dynamics due to decreasing production volumes from major operating mines. However, the smaller size stones market remains soft as demand is impacted by a weak Asian market and the increasing uptake of laboratory-grown diamonds. Demand for stones larger than 10.8 carats remains robust, as reflected in the Company's sales in the plus 10.8 carats category. The G7 sanctions on Russian diamonds over one carat, effective March 2024, caused some trade delays with import times returning to normal during the quarter. The Company views the sanctions as short-term support for diamond prices, as the emphasis on stone provenance increases. Lucara, with its established operations producing exceptional Botswana diamonds, stands to benefit f...