Strong Chinese Demand Lifts Global Diamond Trade
Post Date: 29 Oct 2009 Viewed: 630
The bullish demand for diamond jewelry from China has helped buttress the global diamond trade amidst the challenging economic climate, reported China Daily.
“We are still unable to fulfill our orders. Our manufacturing lines are working overtime,” Frank Wu, head of TTF studio which manufactures jewelry for international and Chinese diamond jewelry brands, was quoted as saying. He credited the pickup in business to the robust domestic demand for diamonds in China, though part of its products is for export.
He added: “China can’t save the global diamond industry, but at the least it can slow its decline and give it support.”
In the first half of the year, polished diamonds imported into China were valued at $300 million, up 12.7% from a year earlier, while imports of polished diamonds into the US, the world’s biggest diamond market, were roughly halved.