De Beers' Rough Diamond Sales Rise Again to $610 Million in Cycle 2

Rough Market
01/03/2016 09:19

De Beers has announced that its rough diamond sales (Global Sightholder Sales and Auction Sales) for the second sales cycle in February 2016 were $610 million, a 12% increase over the $545 million sold at the first cycle in January. Their press release reads, "Rough diamond demand continues to show signs of improvement as excess inventory has continued to work through the system in recent months." Philippe Mellier, Chief Executive, De Beers Group, said: “Retailer restocking after the end of year holiday season is supporting demand for polished diamonds and, in turn, we are seeing improved demand from the midstream for rough diamonds. However, we remain mindful of the need for a cautious approach as the recovery continues.”