An Overview Of Diamond Trading Industry
Diamond is a mineral that is very rare, toughest, precious, and one of most loved. The gem is sought out across the world. Nowadays, it is one of most profitable and largest industries. In fact, diamond trading is a lucrative career for some people. This industry is dependent on activities that take place in the diamond exchange market. It is a reason for diamonds distribution.
At the top is a chain of diamond supplies. This is where freshly mined gems are purchased for sorting and distribution. These diamonds are graded according to different natural characteristics. Therefore, you can sell these diamonds according to their quality.
Nowadays, there are popular world markets. The most popular market for diamonds is found in Tel Aviv, Israel. Other popular markets are found in Antwerp, Belgium and New York, US. There are also online markets. Diamond is exchanged across the world with the help of diamond trading websites. These websites handle wholesale diamond trading.
Merchants buy roughly sorted gems. They exchange diamonds in the form of packets that contain a particular type of diamond. These diamonds are sold to cutting and polishing industries. They can also have them polished to sell them to other wholesalers.
You should note that a larger part of the polishing industry is located in Surat, India. Over 90% of the world diamonds are polished and cut there. There are other parts in Europe where these diamonds are polished and cut. Such are areas include Belgium, London, and Amsterdam. It is after polishing that a diamond is ready for retail.
The purchased wholesale diamonds are bought by large factories where they are polished. After polishing, the diamonds can be sold to the retailer as diamond jewelry. Exchanges monitor the market. In fact, only people that have great customer networks are given the opportunity to trade in the exchange.
Unlike other precious metals markets, this market is very centralized. The market exchanges dominate the wholesale market. What makes this industry even more profitable is the extensive chain of traders between the retailer and exchange.
There are also international borders association. These are very great in the diamond industry. They organize international conferences annually. This is necessary to monitor whether the diamonds traded are obtained from inhumane activities.
Russia has the world’s most diamond mines. Therefore, it is one of top trading centers. There are also illegal mines that make part of world diamond trade.…