Global diamond market is sluggish, China's consumer demand is slowing month by month

In the first half of this year, the global diamond trade was affected by the impact of the world economy. The major diamond consumer countries showed insufficient demand. In the case of weak market, the import and export trade volume of China's diamonds maintained steady growth, but consumer demand slowed down month by month. The reporter learned from the Shanghai Diamond Trading Joint Management Office (hereinafter referred to as the “Diamond Office” on the 4th that according to customs statistics, the total import and export volume of diamonds on the Shanghai Diamond Exchange in the first half of this year reached US$1.94 billion, an increase of 2.1% over the previous year. The continued downturn in the world economy has led to a decline in the trading volume of major international diamond trading centers, but China's diamond trade has remained generally stable. According to data provided by Shanghai Diamond Office, the total import and export volume of diamonds in Antwerp, Tel Aviv, Israel, Mumbai, and Shanghai, China, in the first half of the year was 27.7 billion US dollars, 6.8 billion US dollars, 18.1 billion US dollars, and 1.52 billion US dollars, respectively. They were -4.5%, -23%, -42%, and 10.7%, respectively. According to the analysis of the Diamond Office, the reason for the growth of China's diamond import and export is mainly due to the improvement of the trading function of the Shanghai Diamond Exchange's peripheral markets. In the first half of this year, the diamond exit amounted to US$322 million, a year-on-year increase of 68%. Exports to Hong Kong, Belgium, Israel, 20 countries and regions such as the United States. Regarding the decline in global diamond trading, the Diamond Office believes that the expected decline in global economic growth has affected global diamond consumption demand. According to statistics, in the first half of this year, the import volume of finished diamonds in the three major diamond consumer markets of the United States, China and Japan was US$ 1.487 billion, US$ 904 million and US$ 440 million, respectively, with an increase of -22%, -4.6% and 20%. Although the decline is not large, China's domestic diamond consumption demand is slowing down month by month. According to the data of the Diamond Office, “the downward trend of the import volume of the finished diamond consumer market began to appear in March. The import volume of the finished diamond consumption market in the second quarter decreased by 28% year-on-year, which was 21% lower than the first quarter.” Experts from the Diamond Office believe that China The slowdown in demand for diamonds is related to the state's macroeconomic development. The real estate market is sluggish, the stock market is declining, and the employment situation is not good, which is not conducive to domestic diamond consumption.

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