De Beers Cuts Diamond Prices by About 5% as Industry Crisis Deepens
- Biggest diamond miner cuts prices by about 5% in November sale
- Company has been offering concessions to weather downturn
This article is for subscribers only.
De Beers is taking more drastic steps to stem the crisis in the diamond industry by cutting prices across the board for the first time in years.
The company, the world’s biggest diamond producer, lowered prices by about 5% at its November sale, according to people familiar with the matter, who asked not to be identified as the information is private.