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De Beers Cycle 2 Sales -13% To $490M; Low-End Rough Demand Subdued

De Beers Group today announced that it had provisionally sold $490 million worth of rough in its second sales cycle of the year. This is almost 13 percent below the $563 million sold in the second cycle of 2018.

De Beers Chief Executive Bruce Cleaver said, “Demand for rough diamonds remained consistent during the second sales cycle of 2019. While overall demand for lower value rough diamonds remains subdued, we did see an increase in demand from India as factories begin to restock.”

De Beers also reported that the actual sales value of the first sales cycle of this year now stood at $500 million.

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