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The diamond market to come back to normalcy

The diamond market can return to normalcy after its impressive growth at the beginning of the year thanks to strong jewelry sales, rising profit margins for cutters and a shortage of rough diamonds. Midstream margins have decreased as the diamond prices continue to rise suggesting that the market is overheated.

Forevermark to rebrand with De Beers name

Forevermark will change its name to De Beers Forevermark, enabling the retail brand to capitalize on the miner’s reputation and sustainability efforts, a spokesperson confirmed to Rapaport News [the week of Mai 10].

Israeli bank financing of the diamond industry slashed

Israeli bank financing of the diamond industry was cut by 33% in 2020, falling below $500 million for the first time in 30 years. The decline reflected shrinking activity in 2020 and a decline in reliance on bank financing. But mostly, it reflects banks’ balking at dealing with the complications of working with diamond firms.