行业危机 卖不动！戴比尔斯时隔一年再降价，天然钻石价值几何 全球最大的钻石生产商戴比尔斯（De Beers）周一宣布下调钻石价格。自2022年见顶以来，受主要消费国奢侈品消费降温、培育钻石日益走俏等因素影响， 钻石行业正遭遇现代史上最严重、持续时间最长的危机之一。而美国对全球最大钻石出口国印度加征关税，更是令行业雪上加霜。 RapNet 钻石价格指数（RAPI）显示，过去两年间，全球钻石价格走势呈现显著结构性分化，小克拉天然钻石价格大幅下探逾三成，大克拉高品质钻石价格 相对抗跌。 具体而言，高端大克拉（3 克拉以上）、高色高净度（如D色IF净度）钻石因稀缺性和投资需求支撑，价格保持稳定甚至微涨，2025年3克拉以上钻石RAPI 仅微跌0.4%；而0.3-0.5克拉等小颗粒日常消费级钻石，受培育钻石冲击和需求疲软影响，价格跌幅显著，2025年0.5克拉钻石全年跌幅超过20%。 2024年1月和12月，受需求下滑以及合成钻石兴起的影响，戴比尔斯将钻石价格累计下调25%，这一举措标志着钻石市场发生重大转变。因为公司此前一直 拒绝降价，这也反映出钻石行业正面临诸多普遍性挑战，其中包括中国、欧美等核心市场的需求萎缩。 ...

Core Viewpoint - De Beers, the world's largest diamond producer, has announced a price reduction for diamonds, marking a significant shift in the diamond market due to declining demand and the rise of synthetic diamonds [2][6]. Industry Crisis - The diamond industry is facing one of the most severe and prolonged crises in modern history, influenced by a slowdown in luxury consumption in major markets and increased tariffs imposed by the U.S. on India, the largest diamond exporter [2][3]. - The RAPI index for various diamond sizes has shown significant declines, with the 0.30 ct diamonds down by 6.0% year-to-date and 12.1% year-on-year, while 1 ct diamonds have decreased by 2.6% month-on-month and 8.2% year-on-year [4]. Company Overview - De Beers once controlled 90% of the global diamond supply market and still holds 60% of the rough diamond trade [6]. - In January and December 2024, De Beers reduced diamond prices by a cumulative 25%, reflecting the challenges faced by the diamond industry, including shrinking demand in core markets like China and Europe [6]. Seeking Solutions - The import value of diamonds has dropped by 48%, leading to decreased consumer confidence and a shift towards lighter jewelry due to high gold prices, further pressuring diamond demand [9]. - De Beers has accumulated over $2 billion in inventory, and the success rate of its diamond auctions has been declining [9]. - In the latest diamond auction, De Beers significantly lowered prices for rough diamonds over 0.75 carats, with expected price reductions in the range of 10%-15% [9]. - Despite the price cuts, De Beers' diamond prices remain approximately 20% higher than current secondary market prices, and the company has eliminated some flexible trading terms previously offered at auctions [9].

2026.01. 20 本文字数：1965，阅读时长大约3分钟 作者 | 第一财经 樊志菁 全球最大的钻石生产商戴比尔斯（De Beers）周一宣布下调钻石价格。自2022年见顶以来，受主要消费国奢侈品消费降温、培育钻石日益走俏等因素影 响，钻石行业正遭遇现代史上最严重、持续时间最长的危机之一。而美国对全球最大钻石出口国印度加征关税，更是令行业雪上加霜。 行业危机 RapNet 钻石价格指数（RAPI）显示，过去两年间，全球钻石价格走势呈现显著结构性分化，小克拉天然钻石价格大幅下探逾三成，大克拉高品质钻石 价格相对抗跌。 具体而言，高端大克拉（3 克拉以上）、高色高净度（如D色IF净度）钻石因稀缺性和投资需求支撑，价格保持稳定甚至微涨，2025年3克拉以上钻石 RAPI仅微跌0.4%；而0.3-0.5克拉等小颗粒日常消费级钻石，受培育钻石冲击和需求疲软影响，价格跌幅显著，2025年0.5克拉钻石全年跌幅超过 20%。 回顾历史，19世纪末，世界钻石市场格局分散且动荡不安。不同矿区的钻石产量难以预测，导致价格剧烈波动、品质参差不齐。戴比尔斯推行了一套全 新模式，整合各矿区的钻石生产，并对分销环节进行统一协调。然 ...

全球最大的钻石生产商戴比尔斯（De Beers）周一宣布下调钻石价格。自2022年见顶以来，受主要消费国奢侈品消费降 温、培育钻石日益走俏等因素影响，钻石行业正遭遇现代史上最严重、持续时间最长的危机之一。而美国对全球最大钻石 出口国印度加征关税，更是令行业雪上加霜。 行业危机 RapNet 钻石价格指数（RAPI）显示，过去两年间，全球钻石价格走势呈现显著结构性分化，小克拉天然钻石价格大幅下探 逾三成，大克拉高品质钻石价格相对抗跌。 具体而言，高端大克拉（3 克拉以上）、高色高净度（如D色IF净度）钻石因稀缺性和投资需求支撑，价格保持稳定甚至微 涨，2025年3克拉以上钻石RAPI仅微跌0.4%；而0.3-0.5克拉等小颗粒日常消费级钻石，受培育钻石冲击和需求疲软影响， 价格跌幅显著，2025年0.5克拉钻石全年跌幅超过20%。 回顾历史，19世纪末，世界钻石市场格局分散且动荡不安。不同矿区的钻石产量难以预测，导致价格剧烈波动、品质参差 不齐。戴比尔斯推行了一套全新模式，整合各矿区的钻石生产，并对分销环节进行统一协调。然后通过战略性投放钻石的 方式，维持了钻石价格的长期坚挺。这套模式构成了日后戴比尔斯钻石价格 ...

钻石行业正遭遇史上持续时间最长的危机。 全球最大的钻石生产商戴比尔斯（De Beers）周一宣布下调钻石价格。自2022年见顶以来，受主要消费国奢侈品消费降温、培育钻石日益走俏等因素影响， 钻石行业正遭遇现代史上最严重、持续时间最长的危机之一。而美国对全球最大钻石出口国印度加征关税，更是令行业雪上加霜。 行业危机 RapNet 钻石价格指数（RAPI）显示，过去两年间，全球钻石价格走势呈现显著结构性分化，小克拉天然钻石价格大幅下探逾三成，大克拉高品质钻石价格 相对抗跌。 具体而言，高端大克拉（3 克拉以上）、高色高净度（如D色IF净度）钻石因稀缺性和投资需求支撑，价格保持稳定甚至微涨，2025年3克拉以上钻石RAPI 仅微跌0.4%；而0.3-0.5克拉等小颗粒日常消费级钻石，受培育钻石冲击和需求疲软影响，价格跌幅显著，2025年0.5克拉钻石全年跌幅超过20%。 行业随后的重大变革源于技术突破。实验室培育钻石的出现为消费者提供了新选择，这类钻石价格亲民、且在外观上与天然钻石非常接近。美国波士顿咨询 公司估计，培育钻石产量在6年内增长了10倍。批发价较峰值暴跌约90%，严重挤压中小克拉天然钻市场。 寻求出路 ...

Group 1 - The diamond industry is facing increased tension due to new European regulations requiring background checks for diamonds entering the market, aimed at blocking Russian diamond circulation [1] - All diamonds of 0.50 carats and above must submit a standardized "Diamond Origin Due Diligence Statement" to prove they are not linked to Russia, even if processed in third countries [1] - The rise of the cultivated diamond industry in Henan, China, is becoming a significant threat to traditional diamond markets in Europe and the U.S. [1][3] Group 2 - Henan's laboratory successfully produced a 156-carat diamond, prompting the American Gem Trade Association (AGTA) to restrict the display of non-natural gemstones at exhibitions starting in 2025 [3] - De Beers is reducing the supply of rough diamonds and enhancing labeling to distinguish between traditional mined diamonds and mass-produced diamonds, aiming to maintain its premium pricing structure [3] - Henan's Zhecheng has become known as the "Diamond Capital," with 223 upstream and downstream enterprises producing over 22 million carats annually, accounting for more than half of global diamond supply [3][5] Group 3 - High-end diamond brands like Zheguang are emerging rapidly, producing diamonds that meet international standards in clarity, color, and cut [5] - The International Gemological Institute (IGI) has increased its certification of domestic diamonds, issuing over 20,000 certificates in 2025, indicating that these diamonds have comparable quality to traditional mined diamonds [5] - The price of high-quality domestic diamonds has significantly decreased, with one-carat diamonds dropping from approximately 8,000 yuan in 2020 to around 3,500 yuan now, making them competitive against traditional diamonds [7] Group 4 - U.S. consumer acceptance of Henan diamonds has exceeded 80%, with market share growing from less than 15% in 2020 to over 50% by 2024 [9] - International brands like Prada and Signet Jewelers are increasingly adopting diamonds sourced from Henan, with Signet's brands projected to have 58% of their sales from these diamonds by Q3 2025 [9] - The rise of domestic diamonds is not limited to jewelry sales but includes a complete high-end customization system that meets the unique demands of high-net-worth individuals [11] Group 5 - De Beers has been experiencing declining operational data, with its parent company considering splitting its diamond business to alleviate financial pressure [13] - The company is facing a significant inventory challenge of $15 billion, leading to production cuts and relaxed procurement conditions [13] - The dynamics of the diamond market are shifting, with domestic diamonds gradually rewriting existing rules and reshaping the global diamond market landscape [13]

根据中国海关数据显示：2025年11月中国钻石进口数量为80千克，同比下降5.2%，进口金额为1.93亿美 元，同比下降18.2%。 近一年中国钻石进口情况统计图 上市企业：力量钻石（301071），惠丰钻石（839725） 相关报告：智研咨询发布的《2026-2032年中国钻石行业市场竞争现状及发展趋向研判报告》 数据来源：中国海关，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 ...

Core Insights - The unexpected failure of a rare pink diamond at a Sotheby's auction has raised concerns in the global diamond collecting community, contrasting with a different narrative from a Chinese diamond company, "Zhe Guang," which is opening a global subscription channel for large colored diamonds [1][3] Group 1: Market Dynamics - "Zhe Guang" is challenging the traditional Western-dominated diamond value system by offering high-quality colored diamonds (5 to 32 carats) at more accessible prices, suggesting that top-tier colored diamonds can be more tangible and aligned with actual value rather than just financial symbols [3][5] - The company’s approach questions the established narrative of diamond scarcity and instead emphasizes the essence of diamonds as rare minerals combined with top-notch craftsmanship [3][5] Group 2: Technological and Regulatory Foundations - The rise of "Zhe Guang" is supported by advanced synthetic diamond technologies developed in Zhecheng, Henan, which has become a hub for the largest synthetic diamond industry cluster globally [5][7] - The recognition of lab-grown diamonds as legitimate diamonds by the U.S. Federal Trade Commission in 2018 has opened global market opportunities for Zhecheng diamonds, providing a solid foundation for brands like "Zhe Guang" [5][7] Group 3: Consumer Engagement and Trust - "Zhe Guang" employs a multi-faceted strategy to build consumer trust, including providing GIA certifications for each diamond and showcasing the diamond cutting process through live broadcasts, which demystifies the product and fosters a science-based trust [7][9] - The company has seen a rapid increase in inquiries and orders through online platforms, attracting a diverse customer base, including young consumers seeking value and seasoned collectors [7][9] Group 4: Industry Recognition and Future Outlook - Increasing interest from international jewelry brands in sourcing colored diamonds from Zhecheng indicates a shift in the market, as these diamonds are now being integrated into high-end custom pieces alongside natural diamonds [9] - The success of "Zhe Guang" signifies a transition towards a more transparent and value-focused diamond consumption era, challenging the long-standing narratives of exclusivity and scarcity in the diamond industry [9]

格隆汇12月4日｜A股开盘，三大指数小幅高开，沪指涨0.04%报3879.74点，深证成指涨0.02%，创业板 指涨0.01%。盘面上，人形机器人、有色金属板块盘初活跃，培育钻石概念回调。 ...

（原标题：加纳成为首个领导金伯利进程的西非国家） 据"新闻加纳网"11月25日报道，在2025年金伯利进程（KP）全体会议闭幕式上，加纳正式当选为 2026年副主席国及2027年主席国，成为金伯利进程成立以来首个担任该职位的西非国家。 此次当选标志着国际社会对加纳在矿产治理领域改革成果的高度认可。金伯利进程认证制度成立于 2003年，旨在通过国际认证机制阻止"冲突钻石"交易，其成员国的钻石贸易量占全球99%以上。 加纳黄金局首席执行官萨米·吉亚姆菲在当选后表示，这将赋予加纳引领全球钻石产业走向更透 明、负责任发展的重大责任。他表示，加纳将运用其在矿产治理方面的改革经验，推动该认证体系进一 步完善。 据悉，加纳将在2026年担任副主席国期间进行工作准备，并于2027年正式主持金伯利进程各项工 作。此次任职将为非洲国家在全球钻石治理体系中发挥更重要作用提供新的契机。 ...