De Beers has reported $480 million of rough sales during its 4th Sales Cycle of the year, down 20% year-on-year “as global uncertainty persists and China’s post-lockdown recovery falters,” according to a report in IDEX Online.
In Cycle 3 of 2023, De Beers raked in $542 million. In the 2rd Sales Cycle of 2022, it raked in $497 million in rough diamond sales.
Al Cook, De Beers Group CEO, commented: “Sales of our rough diamonds in the fourth sales cycle of the year saw a small decrease from the previous cycle as the industry has entered what is traditionally a seasonally quieter period. Rough diamond demand was also influenced by ongoing macroeconomic uncertainty and a slower pace of recovery in consumer demand from China than was widely anticipated.”
