Rough diamond sales drop in cycle 6 to $630m

De Beers Group has announced the value of rough diamond sales for the sixth sales cycle of 2022 has dropped to a provisional $630m (£523m), down from $657m (£545m) in cycle five.

Owing to the restrictions on the movement of people and products in various jurisdictions around the globe, De Beers Group has said it continued to implement a “more flexible approach to rough diamond sales during the sixth sales cycle of 2022”, with the Sight event extended beyond its normal week-long duration.

As a result, the provisional rough diamond sales figure quoted for Cycle 6 represents the expected sales value for the period 11 July to 26 July and remains subject to adjustment based on final completed sales.

Bruce Cleaver, CEO, De Beers Group, said: “Following a period of consistently robust demand in the first half, we continued to see steady demand for De Beers rough diamonds in the sixth sales cycle of the year. However, the diamond industry continues to adopt a watchful approach in light of the risks to consumer sentiment presented by macroeconomic challenges.”

source https://www.jewelleryfocus.co.uk/206053-rough-diamond-sales-drop-in-cycle-6-to-630m