Diamond Price Trend and Forecast 2026-2027

The US paid the most for diamonds in Q2 2026: USD 227/CT, up 1.8% from USD 223 in Q1. The steady industrial and specialty-cutting demand kept things firm there. Worldwide, the average moved up 1.9%, to USD 140/CT from USD 137, largely because the industrial-grade supply stayed tight even as the demand kept climbing across every region we track. What about H2 2026? We'd expect a global average somewhere in the USD 138-150/CT range, with the steady industrial-abrasive and specialty-cutting demand doing most of the work.

This report tracks industrial and synthetic diamond, not gem-quality stones, the grit, abrasive, and lab-grown material used in cutting, grinding, and drilling tools rather than jewelry. China has become the dominant producer of synthetic industrial diamond, using high-pressure high-temperature and chemical-vapor-deposition processes to manufacture material that's largely displaced natural stones in most industrial applications, while India's cutting and polishing hub and Botswana's natural mining base round out the other significant markets we track. Three things move the price more than anything else: the synthetic-production capacity, since it now dominates the industrial-grade supply, the specialty-cutting and abrasive-tooling demand tied to manufacturing activity, and how much natural mining output continues to feed the smaller high-end industrial segment.

The shift from natural to synthetic supply deserves real attention, since it's fundamentally reshaped this market over the past few decades. High-pressure high-temperature and chemical-vapor-deposition processes can now produce industrial-grade diamond material reliably and at a fraction of the cost of mining and sorting natural stones for industrial use, which has pushed synthetic material to dominate the grit and abrasive segment almost entirely. Natural diamond mining, concentrated in regions like Botswana, has increasingly focused on gem-quality output instead, leaving the industrial trade this report tracks overwhelmingly synthetic in origin. Buyers new to this market sometimes underestimate how much that structural detail matters until they see it play out in the pricing data over a full cycle.

The cutting-tool and abrasive application is worth a mention too, since it's the dominant end use for the material this report covers. Diamond's extreme hardness makes it invaluable for precision cutting, grinding, and drilling tools across metalworking, stone-cutting, and semiconductor-wafer processing, applications where no widely available alternative material can match its performance, which has kept demand for industrial-grade diamond closely tied to broader manufacturing and construction activity.

Diamond Price Forecast for 2026

Supply and demand should stay moderately tight through H2 2026, with the synthetic-production capacity doing most of the work on pricing. India and the US both kept the specialty-cutting demand steady through H1, and that's likely to continue. Botswana's natural mining output kept the high-end industrial segment supplied, while China's dominant synthetic-production base kept it the most affordable of the four. None of the four markets we track is showing signs of genuine disruption heading into the back half of the year.

Buyers should keep an eye on the broader synthetic-diamond manufacturing capacity specifically, since that now supplies the overwhelming majority of industrial-grade material, and expansion or contraction there has more influence on pricing than natural mining output does. That's worth building into any longer-range planning rather than assuming current conditions will simply persist unchanged.

The semiconductor-wafer processing application bears watching too, since it's become an increasingly important, higher-value demand segment for precision-grade synthetic diamond tooling, distinct from the more commoditized bulk abrasive-grit trade.

What could push prices higher? A stronger-than-expected manufacturing or semiconductor-sector demand surge, or a synthetic-production capacity constraint. What could pull them lower? A slowdown in industrial manufacturing activity more broadly.

For the Quarter Ending June 2026

Diamond Prices Q2 2026:

• China: USD 92/CT
• India: USD 74/CT
• Botswana: USD 157/CT
• United States: USD 227/CT

Diamond Prices in China

China's synthetic diamond producers passed through steady demand this quarter, and the gain came to 2.2%, USD 90/CT to USD 92. That kept China comfortably the most affordable of the four markets given its dominant synthetic-production base.

Why did the price of Diamond change in Q2 2026 in China?

The synthetic-production base stayed steady, and the industrial-abrasive demand held its ground right alongside it.

Diamond Prices in India

India climbed 2.8% to USD 74/CT, the cutting and polishing hub continuing to hold steady through the period.

Why did the price of Diamond change in Q2 2026 in India?

The cutting and polishing hub held steady, and that alone explains most of the move here.

Diamond Prices in Botswana

Botswana gained 1.9% to USD 157/CT, the natural mining output staying firm even as the demand continued.

Why did the price of Diamond change in Q2 2026 in Botswana?

Botswana's premium held for the usual reason: steady natural mining output backed by firm high-end industrial demand.

Diamond Prices in United States

USD 227/CT. That's where the US landed in Q2, up 1.8% from USD 223 in Q1. The specialty-cutting demand stayed steady, and the supply conditions firmed just enough to push things higher.

Why did the price of Diamond change in Q2 2026 in United States?

The specialty-cutting demand didn't move much, honestly. It was the supply-side conditions doing most of the work this quarter.

For the Quarter Ending March 2026

Diamond Prices Q1 2026:

• China: USD 90/CT
• India: USD 72/CT
• Botswana: USD 154/CT
• United States: USD 223/CT

Diamond Prices in China

China gained 2.3% to USD 90/CT, the demand firming as the year opened.

Why did the price of Diamond change in Q1 2026 in China?

The domestic abrasive demand firmed as the year opened, and the synthetic-production base stayed roughly steady alongside it.

Diamond Prices in India

Indian cutting-diamond material rose 1.4% to USD 72/CT, the demand firming with the new year.

Why did the price of Diamond change in Q1 2026 in India?

The cutting and polishing demand firmed with the new year, tracking the manufacturing activity closely.

Diamond Prices in Botswana

Botswana climbed 1.3% to USD 154/CT, the natural mining output firming through the quarter.

Why did the price of Diamond change in Q1 2026 in Botswana?

The natural mining output firmed through the quarter, and the high-end industrial demand firmed alongside it.

Diamond Prices in United States

US diamond material rose 1.8% to USD 223/CT, the specialty-cutting demand building through the quarter.

Why did the price of Diamond change in Q1 2026 in United States?

The specialty-cutting demand built through the quarter, tracking the precision-manufacturing activity closely.

Quarterly Diamond Price Trends

The global average climbed steadily across the window, from USD 128/CT in Q1 2025 to USD 140 by Q2 2026, a net gain of about 9.4%. Every quarter posted a gain here, reflecting the steady industrial-abrasive and specialty-cutting demand across every market we track, with the pace of the gains picking up somewhat in the most recent two quarters. That kind of steady, uninterrupted climb is worth noting, since it stands in contrast to how choppy some other commodities in this space have looked over the same period.

What was Diamond Price in 2025?

2025 was a steady year for industrial diamond. Starting near USD 128/CT in Q1, the global average finished 2025 at USD 134, a gain of about 4.7%. The industrial-abrasive and specialty-cutting demand held consistent all year across every market we track, before the pace of gains picked up further once 2026 got underway. Buyers who track this market closely tend to view that steady annual pattern as the baseline against which any future quarter's move should be judged.

Diamond Prices in China in 2025

Chinese prices moved from about USD 85/CT in Q1 2025 to USD 88 by Q4, up roughly 3.5%. The domestic demand held steady all year, and China stayed the most affordable of the four markets throughout on its dominant synthetic-production base.

Diamond Prices in India in 2025

Indian prices climbed from USD 68/CT in Q1 to USD 71 by Q4, a 4.4% gain, tracking the steady cutting and polishing demand.

Diamond Prices in Botswana in 2025

Botswana's prices rose from USD 145/CT in Q1 to USD 151 by Q4, up 4.1%, as the natural mining output stayed firm through the year.

Diamond Prices in United States in 2025

US prices moved from USD 210/CT in Q1 to USD 219 by Q4, a 4.3% gain, the highest absolute price throughout the four markets on the steady specialty-cutting demand.

How We Can Help

Expert Market Research: Your Source for Real-Time Diamond Price Intelligence

We keep a continuous eye on the industrial diamond prices wherever it's produced or consumed at scale, tracing causation through the synthetic-production capacity, the specialty-cutting and abrasive-tooling demand, and the natural mining output that continues feeding the high-end industrial segment. Our analysts track China's synthetic-manufacturing capacity especially closely, given how dominant it's become across the industrial-grade supply. We also flag any material shift in the underlying feedstock or trade-logistics conditions as soon as it becomes apparent. Need pricing data, bespoke market analysis, or procurement advisory? Reach out to our team.