De Beers' Fifth Cycle Rough Diamond Sales Down 12%, Prices Stable

Rough Market
28/06/2016 10:13

The De Beers Group of Companies today announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the fifth sales cycle of 2016, showing provisional sales of $560 million, down 12% from the $636 million in sales during cycle four in May. Philippe Mellier, Chief Executive, De Beers Group, said: “Sales in the fifth cycle of the year were somewhat lower than in the fourth cycle, in line with our expectations and typical seasonal demand patterns. Rough diamond demand and polished diamond prices remain stable, reflecting steady consumer demand, but we maintain a cautious outlook.”