De Beers to Offer Sweeter Terms as Diamond Market Shows Strain
- Diamond miner offers to buy back more stones from customers
- Market is weakening after boom that started during pandemic
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De Beers told its diamond buyers they can purchase stones on sweetened terms at its next sale, in the first sign the market is slowing after a bonanza that started during the global pandemic.
The diamond industry was one of the surprise winners as the world economy rebounded from the first effects of the pandemic. Consumer demand for diamond jewelry grew strongly last year, while supply remained constrained.