De Beers could cut diamond prices by nine percent

The world’s largest diamond producer of rough diamonds by value, De Beers has reduced prices for its rough diamond sight.

This is due to continued weakness in the polished diamond market this year and resulting softening of diamond prices.

De Beers took steps to cut rough diamond prices, after cutting rough production did not support demand.

Russian diamond miner Alrosa has also lowered diamond prices by six percent since January.

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