De Beers raised the prices of smaller diamonds

De Beers has raised the price of smaller diamonds as sanctions on its Russian rival creates a growing shortage of some stones. De Beers raised the prices of smaller stones by between 5% and 7% at its sale in Botswana, according to people familiar who asked not to be identified because the information is private. Even after the price rises, there is strong demand for the goods, the people said. De Beers produces relatively few of the type of diamonds Alrosa specializes in: the smaller and cheaper gems that are used in lower-end jewelry sold by Walmart Inc. or Costco Wholesale Corp. That’s creating increasing shortages as Alrosa’s ability to supply the market remains uncertain.