De Beers Rough Sales Trend Lower As India Diamond Trading Slows During Elections

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De Beers Rough Sales Trend Lower As India Diamond Trading Slows During Elections

De Beers announced its rough diamond sales figures for the fourth sales cycle of 2024, revealing a decline. The provisional sales value for this cycle is $380 million, down 15% from $446 million in Cycle 3, 2024, and a 21% drop from $479 million in Cycle 4, 2023.

De Beers Group CEO Al Cook said: “As expected, De Beers’ rough diamond sales in the fourth cycle of the year trended lower, in line with the seasonally slower second quarter and a quieter period of trading in India during the elections. The focus of the global diamond industry now turns towards the JCK jewellery show in Las Vegas at the end of May. Demand trends in the US are expected to be driven by short term macroeconomic issues but supported in coming years by a recovery in engagements as the after-effects of pandemic lockdowns fade.”

De Beers Rough Sales Trend Lower As India Diamond Trading Slows During Elections

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