A sharp jump in prices for large-scale and high-quality rough diamonds caused lively polemics in the professional environment. As objective reasons, representatives of the leading mining companies are called: the need to switch to a subterranean mode of production, at which the prime cost of diamond products increases substantially, as well as the decrease in the share of quality raw materials in the current production cutoff due to the depletion of the main indigenous deposits. Both factors are in principle recognized by opponents representing the lapidary industry, but the rate of price growth causes at least perplexity in this camp - against the background of extremely weak jewelry markets of the USA, Japan and Europe, an adequate increase in diamond prices looks unlikely and expensive raw materials will cause the industry to work long "To the warehouse," which can lead to losses of critical dimensions.

Is the amplitude of the June jump in prices an artifact caused by short-term subjective or, perhaps, speculative reasons or before us a stable trend, indicating a fundamental change in the diamond market? Does the new price reflect only the cost of construction of underground mines or is it an indicator of close structural transformations that radically change not only the position of the players but also the rules of the game themselves? If we analyze the current situation within the framework of the generally accepted paradigm that regards the diamond and diamond markets as classical commodity markets, then, in the face of the apparently long-term stagnation of jewelry markets in the countries that are the main consumers of diamond jewelry, new prices look beyond the bounds of the market, Corresponding to the balance of supply and demand.

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