De Beers will allow sightholders to defer their entire November allocations until December as diamond manufacturers remain under pressure from weak market conditions.
Diamond manufacturers have significantly reduced their rough diamond intake and factory output in 2015 as polished sales declined largely due to a slowdown in China. “We understand that many businesses' short-term demand requirements may well have seen some significant changes, so we are looking to find the best ways to be flexible in meeting your needs,” the company said in a note to sightholders.
In its note, De Beers said sightholders could decide whether they would like to defer or bring forward as much of their allocations as they choose (i.e. all or some elements of their allocation), from one sight to the next in November and December. That means that sightholders have the flexibility to take delivery of their allocated supply over the next two sights in any way that suits their needs, the company explained.
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