持续过热的军工业也进一步加剧了俄罗斯民用工业的衰退，尤其是在银行贷款和吸引劳动力方面。 路透社报道称，随着战争经济放缓、国内需求停滞和出口枯竭，俄罗斯一些最大的工业公司正让员工休 假甚至被迫裁员，涵盖行业已从铁路、汽车扩大到了金属、煤炭、钻石和水泥等行业，这些俄罗斯大型 公司试图在不增加失业率的情况下减少工资支出。 乌克兰无人机昨天刚刚袭击了距离1300千米，位于巴什科尔托斯坦的乌法炼油厂，该炼油厂为俄军提供 燃油和润滑油，分析显示，此次袭击击中了乌法炼油厂最重要的AVT-5装置，该装置是原油初级加工的 关键设备，其被毁导致后续精炼工序全部停滞。 俄罗斯最大的水泥制造商Cemros将每周工作4天的政策延续到了年底，该公司在全俄各地拥有18家工厂 和1.3万名员工，"这是必要的反危机措施，我们的目标是保住所有员工"：由于伊朗和白俄罗斯等国进 口产品的冲击，加上新建房屋数量持续下降，俄罗斯的水泥需求持续下降，今年预计不到6000万吨，跟 疫情期间一样。 俄罗斯工业部和劳工部没有回应路透社就调查结果置评的要求，但俄罗斯宏观经济分析与短期预测中心 表示，自今年年初以来，与军事无关的经济部门已萎缩5.4%，该中心预测， ...

Core Insights - The article discusses the economic influence of Gen Z and millennials, highlighting their consumption trends and preferences, which are shifting the market dynamics [3][5][14] - It also emphasizes the current favorable conditions for home buyers, particularly in mid-October, as a prime time to purchase homes due to lower competition and better pricing [28][29][40] Group 1: Economic Influence of Gen Z and Millennials - Gen Z and millennials represent nearly 48% of the global population, making their consumption trends crucial for investors [5] - This demographic is increasingly focused on value-based shopping, favoring non-branded local brands over luxury items [6][10] - They are digital natives, engaging primarily in e-commerce and digital experiences rather than traditional retail [7][11] - Their investment preferences are shifting towards digital assets like bitcoin, contrasting with older generations' preference for gold [12][14] Group 2: Housing Market Trends - The week of October 12th to 18th is identified as the best time to buy a home, with more listings and less competition [28][29] - Buyers can expect to save approximately $15,000 compared to peak prices seen in the summer, which averaged around $440,000 [34] - The housing market is experiencing a seasonal slowdown, but lower mortgage rates are expected to stimulate activity in the fall [40][41] - Current mortgage rates are below 6.5%, providing additional relief for potential buyers [41][42]

近几年，中国的钻石进口额在持续下滑。 钻石，真的卖不动了。 商业史上最大的"骗局"，被中国河南戳破了。 卖不动了 戴比尔斯公布的2024半年报显示，营收同比下滑21%至22亿美元（约合159.7亿元人民币），天然毛坯钻销量同 比下滑22%至1190万克拉。 与2023年同期相比，戴比尔斯营收、销量双双下降。 为了应对市场下滑，戴比尔斯不得不下调了2024年天然钻石产量预期。 此前该集团预期年产量为2600万-2900万克拉，下调后预计为2300万-2600万克拉。 实际上，戴比尔斯的营收，2023年前就开始下滑了。 戴比尔斯2020-2023年的营收和钻石销售量 2022年，戴比尔斯的营收为66亿美元，毛坯钻石销售量为3040万克拉。 按2024年上半年的数据推算，戴比尔斯的营收与毛坯钻石销量要比2022年减少一半。 戴比尔斯成立于1888年，在本世纪初之前一度垄断了钻石市场。 戴比尔斯是全球最大的钻石矿业公司，同时还是全球最大的钻石零售企业，旗下钻矿生产的宝石级钻石，以价值 计约占全球总产值一半。 正所谓，一叶知秋。 二是中国钻石进口额。 2023年，中国钻石的进口额为59.72亿美元，同比下降了29.55 ...

禁止展出培育钻石？ 近期，美国宝石贸易协会（AGTA）的一纸禁令，引得全球珠宝行业关注——该协会决议停止展出培育 钻石，并宣称，此举旨在"维护市场稳定"、倡导"自然之美"。 然而，稍作分析便可看出，这不过是传统钻石巨头在应对中国培育钻石产业迅猛发展时的慌乱应对之 举。这场看似名正言顺的"自然捍卫行动"，实则是西方百年天价神话走向崩塌的最后反抗。 自2024年4月起，在美国珠宝零售市场，培育钻石的占比已超过56.8%，首次超过天然钻石。 这样的体验，正在全球引发一系列连锁反应：2024年天然钻石价格指数大幅下跌34%，戴比尔斯不得不 将开采量削减至本世纪最低水平。 这一数据反映出市场发生了巨大转变：当一颗具备D色、VVS净度、3EX切工的1克拉培育钻戒，价格 仅约8000元，且化学、物理属性与天然钻石分毫不差时，依靠"物以稀为贵"所构筑的百年钻石神话便难 以为继了。 更让西方坐立难安的是，培育钻热潮根源在于河南柘城。这里凭借每年600万克拉的培育钻石产量，占 据全球44%的产能份额，被业界称为"钻石之都"。 这里产出的柘光钻石，采用高温高压（HTHP）技术实现了D色级大颗粒钻石的量产。在淘宝、京东、 官网还推出 ...

1947年，戴比尔斯推出了那句家喻户晓的广告语——"钻石恒久远，一颗永流传"。 这句话巧妙地将钻石的坚硬与爱情的"忠贞不渝"紧紧绑定在一起，精准编织出一场关于爱情的浪漫幻觉。 营销效果有多惊人？ 美国钻戒的佩戴率从1939年的10%狂飙至如今的75%，交换钻戒成为了婚礼上几乎不可或缺的仪式感。 图源：JCK Las Vegas官网 凭借这份深入人心的影响力，戴比尔斯一跃成为全球钻石行业的"唯一话事人"。 鼎盛时期，它通过中央销售组织（CSO）掌握着全球九成的原钻供应，稳坐钻石市场的 "头把交椅"。 图源：中华读书报文化周刊 图源：中华网 这场人为的"钻石神话"有多耀眼？ 戴比尔斯在1999年开采的59.60克无瑕粉钻，几经辗转被周大福老板收入囊中。 图源：上海广播电视台新闻综合频道 也就是说，哪些钻石原料能被放出来在市场流通，交易的价格是多少，甚至是参与交易的入场券，几乎都由戴比尔斯说了算。 主导权在手，戴比尔斯玩起了高超的"心理战术"。通过大量收购原钻，营造市场稀缺现象，再由自身限量供应，推动饥饿营销。 物以稀为贵，钻石价值自然水涨船高。叠加二战后经济复苏的背景红利，上世纪钻石市场上曾一度出现过高价难求的盛 ...

Core Viewpoint - Belgium's exports to the U.S. have significantly declined due to a 15% tariff imposed on EU goods, leading to a trade deficit for the first time in years [1] Export Performance - From May to July, Belgium's total exports to the U.S. decreased by 12.1%, with a notable drop of 13.9% in July alone [1] - The automotive sector experienced a drastic decline of 45% in exports, while the chemical and pharmaceutical industries saw reductions of 30% and 20%, respectively [1] - The diamond and technology sectors also faced negative impacts from the tariff [1] Trade Balance - In the previous year, Belgium's total exports to the U.S. amounted to €27 billion, with over half attributed to pharmaceutical products [1] - The trade balance shifted from a surplus of €600 million in 2024 to a deficit of €2.2 billion during the May to July period due to the larger decline in exports compared to imports [1] Market Sentiment - Analysts indicate that Belgian and other EU companies are in a wait-and-see mode due to the unpredictable nature of U.S. trade policies under the Trump administration [1] - Although a 15% tariff agreement was reached, the lack of clarity on exempted products has led to uncertainty among businesses [1]

Market Overview - The Shanghai Composite Index reached a new high, closing up 0.24% at 3884.71 points, while the Shenzhen Component rose 0.15%. The ChiNext Index fell by 0.52%, and the North Star 50 dropped 1.26%. The STAR 50 increased by 0.56%, and the CSI A500 rose by 0.13%. The total A-share trading volume for the day was 1.65 trillion yuan [1]. Monetary Policy - The People's Bank of China conducted a 7-day reverse repurchase operation of 230 billion yuan at a fixed rate of 1.4%, with a total bid amount of 230 billion yuan and a successful bid amount of 230 billion yuan. On the same day, 188.3 billion yuan of reverse repos matured, resulting in a net injection of 41.7 billion yuan [2]. Industry Trends - The semiconductor industry chain showed strong performance, with companies like Chipone Technology and Demingli hitting the daily limit, while others like Xingsen Technology and Zhaoyi Innovation also saw significant gains. The non-ferrous metals sector experienced a rotation upward, with superhard materials, copper, and nickel leading the gains [3]. Sector Performance - The CPO concept sector led with an average increase of 6.13%, followed by PCB concept at 4.40%, and copper cable high-speed connection at 4.36%. In contrast, the gaming concept sector saw a decline of 0.81% [4]. Company Insights 1. **Wald**: Successfully launched a series of new products including screw processing tools and diamond micro-drills, achieving a certain revenue scale [7]. 2. **Inno Laser**: Focused on laser micro-processing, forming a business layout that covers various downstream industries including consumer electronics and semiconductors [7]. 3. **Mankalon**: Digital operational capabilities have become a core competitive advantage, supporting rapid expansion while maintaining organizational efficiency [8]. 4. **Sifangda**: Continues to engage in technological breakthroughs and product development, laying a solid foundation for long-term growth [8].

Core Viewpoint - The imposition of a 50% tariff by the U.S. has severely impacted Indian exporters, particularly in the leather and diamond industries, leading to halted orders and potential job losses [1][3][10] Group 1: Leather Industry - The leather industry in Kanpur, known for its numerous small workshops and factories, is heavily reliant on the U.S. market, which has now paused cooperation due to the new tariffs [3] - Exporters like Azad report that all orders have been canceled, leading to factory shutdowns and idle workers, highlighting the risks of dependence on a single market [3][10] - The Indian Export Organization estimates that 55% of goods exported to the U.S. will be affected, particularly in labor-intensive sectors [10] Group 2: Diamond Industry - The diamond industry, particularly in Surat, Gujarat, is facing significant challenges as the U.S. is its largest buyer, purchasing approximately $9 billion worth of jewelry annually [5] - With the new tariffs, the competitiveness of Indian diamonds has diminished, resulting in a withdrawal of orders [6] - Some factories are hesitant to purchase new raw stones and are reducing working hours, while others are resorting to selling inventory at lower prices to generate cash [8] Group 3: Market Response and Future Outlook - Major manufacturers are beginning to relocate production lines to countries like Vietnam and Bangladesh, which have lower tax rates, indicating a potential long-term shift in the supply chain [8] - The Indian government is urged to provide subsidies, tax refunds, or loan support to mitigate the immediate impact, but long-term strategies must focus on diversifying markets beyond the U.S. [10] - The situation serves as a stark reminder of the vulnerabilities in globalization, where reliance on a single market can lead to significant risks when trade policies change [10]

Core Viewpoint - The diamond industry is experiencing a temporary decline in prices and sales, but long-term trends indicate a steady increase in diamond prices due to limited natural diamond reserves [4][5][8]. Group 1: Price Trends - Natural diamond rough prices have increased by 37% since 2007, with an average annual growth rate of about 3% for finished diamonds over the past 35 years [3][4]. - The global diamond market saw a significant price increase of 40% between 2021 and 2022, followed by a price correction due to high inventory levels in the Indian cutting industry and increased financing costs [4][5]. - Investment-grade diamonds, particularly those over 5 carats, have been less affected by recent price declines, making them attractive to potential investors [8]. Group 2: Supply and Demand - The annual production of diamonds has been declining, from 160-180 million carats in the early 21st century to an estimated 110 million carats by 2024 [5]. - The diamond market is expected to recover, with a projected increase in diamond imports in China, which is the largest jewelry market, accounting for 35% of global jewelry consumption [8]. Group 3: Future Outlook - The diamond price index is expected to grow by 3%-5% annually over the next decade, with stronger growth anticipated after 2027 [8]. - Data from the Shanghai Diamond Exchange indicates a significant increase in diamond imports in the first half of 2025, reflecting a rebound in global market demand [8].

Core Insights - The long-term outlook for diamond prices remains positive, with expectations of steady growth due to limited natural diamond reserves [2][3]. Industry Overview - Natural diamond rough prices have increased by 37% since 2007, with an average annual growth rate of approximately 3% for finished diamonds over the past 35 years [2]. - Despite a decline in global diamond prices and sales over the past two years, this is seen as a relative decrease following a significant price surge of 40% between 2021 and 2022 [3]. - The current high inventory levels in the Indian cutting industry and increased financing costs have contributed to the recent price corrections [3]. Market Dynamics - The annual production of diamonds has been declining, from 160-180 million carats in the early 21st century to an expected 110 million carats by 2024, due to depleting reserves and a lack of new large discoveries [3]. - Investment-grade diamonds, particularly those weighing over 5 carats, are less affected by price declines and are considered attractive to potential investors [5]. Future Projections - The diamond price index is projected to grow by 3%-5% annually over the next decade, with stronger growth anticipated after 2027 [5]. - China, as the largest jewelry market, currently has a low share of diamond jewelry sales at 9%, compared to 60% in the United States, indicating potential for growth [5]. - A significant increase in diamond imports is expected in 2025, with a projected 93.8% year-on-year increase in weight and a 43.5% increase in total import value [5].