Diamond is a non-renewable product, and with the improvement of production levels, diamond demand is ever growing. In recent years, diamond prices rise consistently at the growth rate of 30% to 40%, including the present, so what is pushing upthe diamond price? The industry said there are three reasons.
First, the increase in diamond mining costs forces the upstream price to increase.
Diamond is a kind of non-renewable resources, the world hasn’t for a long time found a new big diamond mine. The management costs, mining costs and labor costs are also increasing, so on the international diamond market, diamond rough price is skyrocketing.
Second, growing market demand, but short on supply.
Since the second half of last year, China and India’s diamond consumption soared and the US diamond market recovered, resulting in diamond wholesale prices rise this year. It is understood that the current consumption of diamonds in the country has formed a wave, when diamond jewelry becomes a popular choice for wearing, marriageand gifts, in particular, most of the wedding ring to buy. Many people value the prospects for the appreciation of diamonds, and begin to invest in large-scale collection of diamonds. With an unbalanced relationship between supply and demand of diamonds, it becomes a natural thing for wholesalers to increase price.
Third, with rising commodity prices, diamond ornaments costs continue to increase.
In recent years, jewelry factories and jewelry retailers are facing ever rising wages, store rent, as well as precious metals prices. As manufacturing and distribution costs are rising, the retail price rise is a sure thing.