Diamond miners are expected to have to offer more price cuts in 2016 to help the industry clear a backlog of stock and revive sales, according to sector experts.
The likely need for lower prices and possible supply cuts will put further strain on the balance sheets of some miners including Anglo American, which owns De Beers, the largest supplier of rough diamonds by value.
Having been a rare bright spot for miners as commodity markets softened in 2014, the diamond industry came under severe pressure in 2015 as weakening consumer demand led to a big build-up of stocks and led to sharp falls in rough diamond purchases and prices.
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