Since entering 2023, the diamond market has been influenced by various factors, and the impact of uncertainty has deepened. The "retaliatory" diamond consumption in the post pandemic era did not arrive as expected. With the slowdown in growth in the US and Chinese markets, global demand for finished diamonds has shrunk. The signs of recovery in the fourth quarter of 2022 have come to an early end, and finished diamond prices are still in a downward trend. In Q1 2023, the price of finished diamonds decreased by 5.75% in US dollars and 5.98% in Chinese yuan.
Everledger, a company in Australia that focuses on blockchain technology in the diamond industry, is facing difficulties as investors withdraw and enter "self management". The G7 meeting may discuss strengthening sanctions on Alrosa rough diamonds.