Diamonds - De Beers & Demand
The diamond jewelry industry is going into the year with diamond supply at historically low levels, estimated by Bain & Company at 29 million carats in 2021. “Upstream inventories declined ~40%, driven by high demand and slow production recovery, and are near the minimal technical level,” the report stated.
There is little chance of material increases in supply before 2024, when a $2 billion underground expansion of its Venetia mine in South Africa is expected to be completed.
View 3 more comments
As someone in the market for a diamond this is not the news I want to read.
Come on De Beers flood the market with some diamonds and help me out because my stocks certainly aren’t at the moment.