A surge in demand for lab-grown stones has weakened a key corner of the diamond market, Bloomberg reported. But synthetic stones are taking a bigger share of the diamond market. Lab-grown stones are faster-made, cheaper, and more environmentally friendly alternative to mined diamonds. Five years ago, synthetic diamonds sold at a 20% discount to natural stones. "Ultimately," he said, "they are different products and the finite and rarity of natural diamonds is a different proposition."

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Persons: De Beers, Paul Rowley, Rowley Organizations: Bloomberg, Diamond, Service Locations: Wall, Silicon, India