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Petra Diamonds announced yesterday that its revenue for the fiscal year (ending June 30) fell 10% year-on-year to $425 million, as the fall in diamond prices affected sales.
De Beers, the world's largest diamond supplier, predicted last week that its profit for the first half of this year may fall 23% year-on-year to US$360 million, while De Beers lowered its full-year production target again, reflecting the market's The demand for rough stones is extremely weak.
In the past five years, diamond prices have fallen by 12% because of the slowdown in Chinese demand. Below is a chart of the IDEX (International Diamond Exchange) Diamond Price Index from BI: 
In addition to diamonds, almost all expensive goods have recently encountered Waterloo. Last week, the price of gold fell, falling to $60 in two minutes, and precious metals such as silver, platinum and palladium also fell.
Natural diamonds no longer shine, crystal prices fell 12% in five years
Abstract The market price of diamonds has experienced a long and slow decline, which is becoming a nightmare for diamond producers. Petra Diamonds announced yesterday that the company's fiscal year (ending June 30) revenue fell 10% year-on-year to $425 million, due to the impact of falling diamond prices...
The market price of diamonds has experienced a long and slow decline, which is becoming a nightmare for diamond producers. De Beers has previously mentioned that Chinese retailers have more diamond stocks than they had expected.