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A positive supply demand outlook is shared by a number of external experts. For example, in its recent publication on the global diamond industry, McKinsey & Company sets out four potential future scenarios for the diamond industry.

In every scenario, demand growth outstrips production growth. However, the positive supply demand outlook can be expected to be impacted by the cyclical nature of the industry. It is especially prone to the ‘ripple effect’ caused by de-stocking and re-stocking by midstream operators to fulfil lower or higher demand. Despite this, over the past 50 years rough diamond values have consistently recovered as economic growth rebounds.