“MACROECONOMIC UNCERTAINTY” BRINGS DE BEERS’ 4TH SALES CYCLE DOWN
Provisional data released by Anglo American shows that the value of rough diamonds sold by De Beers in the 4th sales cycle (Global Sightholder Sales and Auction Sales) of 2019 totaled $415 million. This is a considerable drop when compared to the 4th sales cycle of 2018, which totaled $554 million.
In its previous cycle in April, De Beers’ sales totaled $581 million. De Beers’ 2nd sales cycle of 2019 totaled $496 million, and in its 1st sales cycle of 2019, De Beers sold rough for a total of $500 million.
Bruce Cleaver, CEO of De Beers, said: “Cycle four saw lower rough diamond sales against a backdrop of macroeconomic uncertainty, and as we enter a seasonally slower period for the industry with Indian factories closing temporarily for the traditional holiday period”.