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De Beers Cuts Diamond Prices Amid Demand Crisis

1/20/2026

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Summary

Story summary

De Beers cut rough diamond prices for the first time since December 2024, citing slumping demand and lab-grown competition.
The reductions, announced at the first regular sale of 2026, primarily affect diamonds over three-quarters of a carat.
The company faces pressure from declining Chinese luxury spending and higher US tariffs on Indian diamonds.
Exports from India to the United States reportedly halved after tariff increases, adding to the industry crisis.

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Story summary

De Beers cut rough diamond prices for the first time since December 2024, citing slumping demand and lab-grown competition.
The reductions, announced at the first regular sale of 2026, primarily affect diamonds over three-quarters of a carat.
The company faces pressure from declining Chinese luxury spending and higher US tariffs on Indian diamonds.
Exports from India to the United States reportedly halved after tariff increases, adding to the industry crisis.