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Diamond disrupters: More taking a shine to lab-grown options and coloured stones
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Lee Hwa’s Supernova collection is one of the first lab-grown diamond lines in Singapore to receive GIA certification.
PHOTO: LEE HWA
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SINGAPORE – The diamond industry is finding itself in the rough.
In 2024 alone, mined diamond prices have fallen by 10.8 per cent, according to industry expert Paul Zimnisky’s Rough Diamond Index, resulting in a 34 per cent drop from their peak in 2022. Industry insiders cited by business magazine Forbes are even predicting an additional decline of 15 to 20 per cent over the coming year.
