Surat: Lab-created diamonds are all set to become costlier in the coming days. The reason being that about five companies in China, manufacturing HPHT (high pressure high temperature) rough lab-created diamonds have unanimously decided to increase the prices per carat by 10-15%. The new prices have come into effect from March 5.
Industry sources said that the price hike in lab-created rough diamond by Chinese companies will directly affect the units of Surat based units. According to traders, the price of finished diamonds may also increase now. Traders associated with the diamond industry say that the demand in the lab-grown diamond market has been gradually improving for the last few months. Due to this, manufacturers have now moved towards increasing prices again. However, as competition in the international market is still fierce, only time will tell how long the price hike will last.
Direct impact on Surat, the world’s lab-grown processing hub.
Surat is the world’s largest lab-grown diamond processing hub. The units here are based on Chinese HPHT rough. The price hike will increase the manufacturing cost and exporters will also have to discuss this with customers.
Can be a big challenge.
This can be a big challenge for Surat manufacturers. If demand remains stable in the global market, the prices of finished lab-grown diamonds will have to be increased.
Diamonds may become 10% more expensive.
Experts associated with the industry say that if the increase in the price of rough continues for a long time, the prices of polished lab-grown diamonds may also increase by 5 to 10 percent.
