The long-term outlook for NDs prices positive!
Lucara views 2Q, short-term support for diamond prices Lucara Diamond Corp reports its results for the Second quarter ended June 30, 2024 & expressed their view on Diamond Market. They said, the long-term outlook for Natural Diamonds (NDs) prices remains positive due to improving supply and demand dynamics due to long-term reductions from major producing mines. However, the market for the smaller size stones remains soft as demand is impacted by a weak Asian market and laboratory-grown diamonds. Demand for larger stones over 10.8 carats remains robust, as reflected in the Company's sales. The G7 sanctions on Russian diamonds over one carat, effective March 2024, have caused some trade delays. New regulations require these diamonds to be processed through the Antwerp World Diamond Centre for origin verification. The Company views this as short-term support for diamond prices, as the emphasis on stone provenance increases. Lucara, with it...