skip to main content
IDI Launches Rock en’Roll Campaign
the israel diamond industry logo

China’s Energy Crisis Hurts LGD Production

The fall in production may lead to rise in prices
synthetic Diamonds
Credit: Jianxin (Jae) Liao

China’s continued power crisis has damaged the production of lab-grown diamonds (LGD), according to Rough & Polished.

 

Swarowski introduces 16 new colors of lab grown diamonds
Credit: Swarovski

 

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.

 

Richline Lab Diamond JCPenney
Credit: Richline Group

 

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.”



Tags: Diamonds News, Jewelry News, Diamond Industry News, Synthetic Diamonds News

More News