Loss of Diamond Industry 'Custodian' Bad News For The Trade

Finance and Trade
17/12/2015 09:08

When De Beers had a monopoly position in the supply of rough, the diamond trade was provided with a sort of insurance policy regarding prices, writes Daniel Horowitz. "Diamonds may well be more affordable for now thanks to the drop in prices, but the trade is unlikely to benefit from it. Diamantaires, and also diamond banks, have lost their life insurance as a result of the loss of the market's custodian,” Horowitz concludes.