Rough diamond sales at De Beers Group’s cycle 9 2019 saw a slight increase to US$390 million from US$297 million in cycle 8 on the back of improved consumer sentiment.
The figure is still lower than the US$442 million generated during cycle 9 2018.
Bruce Cleaver, CEO of De Beers Group, remarked, “With signs of increasing polished price stability, cycle 9 saw an improvement in sentiment from rough diamond buyers. Global consumer demand for diamond jewellery at the retail level continues to be broadly stable but with midstream trading conditions still in the process of rebalancing, we offered Sightholders further flexibility during the Sight to provide support.”
The cycle 9 provisional value represents sales as at November 12, 2019. Diamond sales include revenues from Sightholder sales and auctions.
Sales values are quoted on a consolidated accounting basis. Auction sales included in a given cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle.