15-10-2020
To date, De Beers’ eighth sale of rough diamonds sold US$467 million, a 57 percent growth yoy, thanks to the more flexible approach and an extended sales duration.
Usually holds a week, the latest sales held 11 days from 21 September to 9 October. Prices for smaller diamonds has reduced 5-10 percent, which coincided with a demand uptick from buyers to fill up their inventories.
Bruce Cleaver, CEO, De Beers Group, said: “We continue to see a steady improvement in demand for rough diamonds in the eighth sales cycle of the year, with cutters and polishers increasing their purchases as retail orders come through ahead of the key holiday season. It’s encouraging to see these demand trends, but these are still early days and there is a long way to go before we can be sure of a sustained recovery in trading conditions.”