Palmer, global market director of the world's leading diamond supplier, said in Shanghai that no new large diamond primary mines have been found in the world for the past 15 years, while global diamond market demand has climbed at an average annual rate of 10%. Prices are rising at a rate of 3%-5% per year, with high-quality diamonds increasing even more, so the potential for investment in diamonds is high.
Palmer made the remarks when attending the opening ceremony of QBTDiamonds, the diamond direct selling brand in Antwerp, Belgium, in Shanghai. He said that not all diamonds have investment value. Only diamonds above 1 carat have actual investment value. Since no new mines have been discovered for many years, if the current average annual mining of about 100 million carats of diamonds is estimated, the world's proven diamond reserves will be depleted after 25 years.
According to statistics from the Shanghai Diamond Trading Joint Management Office, despite the downturn in the international diamond market due to the financial crisis, China's diamond trade is still outstanding, and continues to maintain a stable and good growth trend. In the first half of this year, the import and export volume of diamonds on the Shanghai Diamond Exchange reached US$692 million, a year-on-year increase of 6.9%. At present, China has become the third largest diamond consumer in the world. According to forecasts, China’s diamond consumption in 2015 will exceed the United States’ ranking in the world.
Palmer made the remarks when attending the opening ceremony of QBTDiamonds, the diamond direct selling brand in Antwerp, Belgium, in Shanghai. He said that not all diamonds have investment value. Only diamonds above 1 carat have actual investment value. Since no new mines have been discovered for many years, if the current average annual mining of about 100 million carats of diamonds is estimated, the world's proven diamond reserves will be depleted after 25 years.
According to statistics from the Shanghai Diamond Trading Joint Management Office, despite the downturn in the international diamond market due to the financial crisis, China's diamond trade is still outstanding, and continues to maintain a stable and good growth trend. In the first half of this year, the import and export volume of diamonds on the Shanghai Diamond Exchange reached US$692 million, a year-on-year increase of 6.9%. At present, China has become the third largest diamond consumer in the world. According to forecasts, China’s diamond consumption in 2015 will exceed the United States’ ranking in the world.
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