Rapaport, a company with ties to the diamond industry, has announced a significant reduction in cut and polished diamond prices, ranging from one to nine percent. This move, aimed at stabilizing the diamond market, has stirred anger within the industry, as prices are now lower than those reported in 2004. The diamond sector has been grappling with a 20-month recession, marked by a steady decline in finished diamond exports, leading industry figures to launch a social media campaign to boycott Rapaport.
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Sat, Jan 18, 2025
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