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How a glut in diamonds is taking a toll on an already embattled industry

The blossoming popularity of lab-grown diamonds - and production in China and India - is another potential headwind for miners of natural gems

Diamond industry | Diamonds | India diamonds

Elizabeth Paton | NYT  |  London 

Is it ever possible to have too many diamonds? For many in the business of producing and trading these gems in recent years, the answer is yes. The top diamond miners in the world, including the two largest, Alrosa and De Beers, have an inventory problem. So do many of the cutters and polishers who buy the rough stones and sell them to retailers. At every stage of the supply chain there are too many of these precious gemstones, whose marketing has long depended on their rarity. A glut in many other industries would ordinarily lead to deep price cuts. But consumers are buying ...

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First Published: Sat, August 17 2019. 23:41 IST