FOCUS 焦点 8 | JNA January/February 2025 In the wake of a turbulent year marred by geopolitical pressures, economic instability and low consumer sentiment, industry players are keeping a wary eye on 2025 while remaining hopeful for slight upturns. Challenges remain, but the trade is spotting green shoots in the form of promising emerging markets, greater economic stability and inspired strategies. Heightened government and consumer scrutiny is likewise leading the gem and jewellery industry to address issues of sustainability, nomenclature and responsible marketing, among others. Diamond supply The diamond trade, which faced extremely trying conditions in 2024, is seeing some light at the end of the tunnel. Market conditions are improving, according to World Federation of Diamond Bourses (WFDB) President Yoram Dvash, who expects the diamond market to show signs of recovery in the second quarter of 2025. Unlike the surpluses that led to price and inventory concerns in 2024, supply has stabilised somewhat and there are even shortages in certain goods. Indian manufacturers reduced their production by 40 to 50 per cent last year, helping to facilitate supply corrections. “Among the main factors that will affect the diamond trade in 2025 is the supply of rough. If mining companies and the producing countries continue to control the supply and do not throw large amounts of rough diamonds into the market, this will have a positive impact,” Dvash shared. Market prospects Much however hinges on Chinese demand, which De Beers Group Executive Vice President, Diamond Trading Paul Rowley cites as the biggest factor currently affecting the diamond industry. All parties admit recovery there will take longer than anticipated. For one, marriage rates in China have remained low since the pandemic, impacting tremendously on the bridal business, said Rowley. Recent initiatives to rekindle desire for natural diamonds in China are projected to bear fruit this year. The WFDB and the Shanghai Diamond Exchange (SDE) have collaborated on a series of videos to drum up consumer interest in | Olivia Quiniquini 程爱莉 | While challenges remain in 2025, the gem and jewellery industry is cautiously optimistic of a gradual return to normalcy following the heady highs and extreme lows during and since the pandemic. As the trade pivots to new markets and fresh initiatives to sustain growth, it is laying the groundwork too to safeguard consumer confidence, which underpins its success and future. 2025年尽管仍然存在挑战，但经历了疫情 期间的高山低谷，珠宝业界对于逐渐復常持谨慎乐观态度。行业积极开拓新市场和 新措施以维持增长，同时也致力维护消费者信心，为未来的成功奠下基础。 The road ahead 2025: 探索珠宝业新路向
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