10-2-2021
De Beers made US$650 million from the first rough diamond sales in 2021, driven by expected demand ahead of Chinese New Year and Valentine’s Day.
According to Bloomberg’s source, the price is up by about 5 percent at its first sale of the year. The rise mostly applied to stones bigger than 1 carat.
The miner CEO Bruce Cleaver analysed the global diamond market: “With the midstream starting the year with low levels of rough and polished inventories, and following strong sales of diamond jewellery over the key holiday season in the US, we saw good demand for rough diamonds at the first cycle of the year as midstream customers sought to restock and to fill orders from retail businesses.”
However, there are still risks to the recovery as ongoing restrictions on the movement of both people and goods persist.
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