(cabinradio.ca) - The world’s natural diamond market all but shut down at the start of the Covid-19 pandemic. More than eight months later, experts say the market is beginning to recover. In March, the world’s supply chain for natural diamonds came to a screeching halt. The manufacturing hub in India – where almost all of the world’s natural diamonds are cut and polished – closed, along with international diamond showings and many jewellery stores. “The whole diamond pipeline, as it’s called, was just plugged,” said Tom Hoefer, executive director of the NWT and Nunavut Chamber of Mines. “There was certainly a multi-month period where business was essentially halted,” added Paul Zimnisky, a global diamond industry analyst based in New York. That business started to resume in August, Zimnisky said, and has since accelerated. Manufacturing capacity in India is now at around 90 percent of its prior level.
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