Diamond is a hard material comprising pure carbon atoms arranged in a 3D crystalline structure. It is a hard yet slightly brittle, shiny material having numerous industrial applications. Diamond offers its key features such as its high melting point, which measures around 4000° C, its luster and shine used to make jewellery on a large scale, its excellent thermal conductivity, resistance to electricity, and its stiffness due to C-C covalent bonds which are used on a global scale.
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It occurs naturally and is extracted through mining processes. Mining processes such as pipe mining, open-pit mining, and underground or marine mining are a few methods used to extract Diamonds. However, synthetic, artificial, or lab generated is a common alternative used to produce artificial Diamonds used commercially.
The United States, Hong Kong, and the United Arab Emirates are the key importer countries that import Diamonds. On the other hand, India, Hong Kong, and the United States are the key exporting countries for the same.
Key Details About the Diamond Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Diamond price chart in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Diamond Price Forecast, including India Diamond price, USA Diamond price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Diamond Price Trend:
Industrial uses play a significant role in the diamond market, influencing both supply and demand dynamics which, in turn, can impact diamond prices. Here are several ways industrial uses affect diamond prices:
Supply and Demand Dynamics: Diamonds used in industrial applications are typically lower quality and smaller in size compared to gem-grade diamonds. However, they still contribute to the overall supply-demand balance. If demand for industrial diamonds increases (e.g., for cutting, grinding, and drilling purposes), it can put pressure on the available supply, potentially affecting prices across the entire diamond market.
Synthetic Diamonds: The increasing use of synthetic diamonds in industrial applications has disrupted the traditional diamond market. Synthetic diamonds are often cheaper to produce than natural diamonds and can be tailored to specific industrial needs. As the technology for producing synthetic diamonds improves and their quality rises, they can offer a more cost-effective alternative to natural diamonds in certain industrial applications, influencing the price trend of natural diamonds.
Technological Advances: Advances in technology can both increase the demand for industrial diamonds and improve their production efficiency. For example, the growing demand for electronics, especially in devices like smartphones and computers, requires precision cutting tools made from industrial diamonds. As technology evolves, the demand for such tools may increase, affecting the overall demand for industrial diamonds and potentially impacting prices.
Mining Operations: Some diamond mines primarily produce diamonds for industrial purposes rather than for jewelry. Changes in mining operations, such as the opening or closing of industrial-focused mines, can affect the supply of industrial diamonds and subsequently influence prices.
Market Speculation and Investment: Industrial uses of diamonds can also affect investor sentiment and market speculation. For instance, if there's a perceived increase in demand for industrial diamonds due to infrastructure development or technological innovation, investors may anticipate higher prices and adjust their positions accordingly, influencing market dynamics.
Global Economic Conditions: Economic factors, such as industrial production levels and infrastructure investment, can influence the demand for industrial diamonds. During periods of economic growth, there's typically greater demand for industrial diamonds as construction and manufacturing activities increase, potentially leading to higher prices.
In summary, while industrial uses of diamonds may not directly affect the prices of gem-grade diamonds used in jewelry, they do play a crucial role in shaping the overall diamond market by influencing supply and demand dynamics, technological advancements, market sentiment, and global economic conditions.
Key Players:
The diamond industry involves several key players, each contributing to different aspects of the diamond supply chain:
Miners: Companies like De Beers Group, Alrosa, and Rio Tinto are major players in diamond mining. They extract rough diamonds from mines located around the world.
Diamond Traders and Dealers: These are companies or individuals who buy rough diamonds from miners and then sell them to manufacturers or retailers. They often operate in diamond trading centers like Antwerp, Tel Aviv, Dubai, and Mumbai.
Manufacturers: Once rough diamonds are purchased, they are sent to manufacturing centers where they are cut, polished, and shaped into finished diamonds. Major manufacturing centers include Surat in India, Antwerp in Belgium, and Tel Aviv in Israel.
Diamond Retailers: These are companies that sell diamonds and diamond jewelry to consumers. This includes traditional brick-and-mortar retailers like Tiffany & Co., Harry Winston, and online retailers like Blue Nile and James Allen.
Diamond Grading Labs: Organizations like the Gemological Institute of America (GIA), the International Gemological Institute (IGI), and the American Gem Society (AGS) provide grading and certification services for diamonds. Their assessments of a diamond's quality and characteristics greatly influence its value in the market.
Regulatory Bodies: Various governmental and industry organizations regulate the diamond trade to ensure ethical practices and prevent the trade of conflict diamonds (diamonds that are mined in war zones and sold to finance conflict). The Kimberley Process Certification Scheme is a notable example of such regulation.
Investors: Some individuals and organizations invest in diamonds as a commodity or store of value. These investors may buy and hold physical diamonds or invest in diamond-related financial instruments.
Technology Providers: Companies that develop technology for diamond mining, cutting, and grading also play a significant role in the industry's advancement. This includes companies specializing in diamond scanning technology, laser cutting machines, and blockchain solutions for tracking diamond provenance and authenticity.
These are just some of the key players in the diamond industry, and each contributes to the complex global diamond supply chain.
News and Recent Developments
- Date: September 2, 2022- A sudden fall in the Diamond exports in India's Diamond market as China and Beijing withdrew their Zero-Covid policy. The market witnessed a decrease of about 13.45% for the first time in 2022.
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