Happy New Year!

2020-12-29

The year of 2020 has been extremely hard for all of us. Every industry has been confronted with unprecedented challenges, and the diamond industry was not an exception. The Shanghai Diamond Exchange had the hardest time this spring, when polished diamond imports under general trade through SDE into mainland China plummeted more than 70 percent year on year.  

 

Fortunately, as the Covid-19 prevention in China appeared to be more and more effective, the recovery of the domestic jewelry market began to pick up speed. Each cloud has a silver lining, and we’ve seen the enduring resilience of the diamond industry. Since the second half of the year, both diamond import and transactions at SDE had a quick rebound. Especially in the fourth quarter, polished diamond import soared in each every month. It is expected that the polished diamond import in the whole year of 2020 would drop only about twenty percent compared to last year.

 

In the meantime, there have been many new corporate members joining SDE in 2020, including the Russian rough giant Alrosa. This clearly shows the confidence that the international diamond industry has in the Chinese market.  

     

No matter how challenging this year has been, it will eventually pass. And when it’s about to come to an end, the holiday season is around the corner. Shanghai Diamond Exchange would like to wish all our members, industry colleagues, family and friends a safe, healthy, joyful and prosperous new year of 2021

 


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