China’s continued power crisis has damaged the production of lab-grown diamonds (LGD), according to Rough & Polished.
Production of jewelry-grade gems has dropped 10%-15% “for the past month or so.” About 7 million carats of jewelry-quality synthetic diamonds are produced globally each year, 3 million of which come from China.
According to the report, the continued energy crisis has led some synthetic diamond producers to announce their plans to raise prices without giving specific details. However, “the impact is not too significant so far and prices remain unchanged for now.”
