A protracted U-shaped recovery in demand: De Beers

Jun 27, 2024

debeers 3

De Beers Group announced the value of rough diamond sales for the fifth sales cycle of 2024. The provisional rough diamond sales figure quoted for Cycle 5 represents the expected sales value for the period and remains subject to adjustment based on final completed sales.

De Beers Group CEO Al Cook said: “The northern summer is generally a quieter period for rough diamond sales, and this was reflected in our cycle 5 sales. The recent annual JCK jewellery show in Las Vegas confirmed a resurgence in retailers’ interest in natural diamonds in the United States but ongoing economic growth challenges in China mean we continue to expect a protracted U-shaped recovery in demand.”

DeBeers Cycle 5 2024

(provisional)[1]

Cycle 4 2024

(actual)[2]

Cycle 5 2023

(actual)

Sales value[3]($m) 315 383 456

Note:

[1] Cycle 5 2024 provisional sales value represents sales as at 25 June.

[2] Cycle 4 2024 actual sales value represents sales between the dates of 18 April and 22 May.

[3] Sales values are quoted on a consolidated accounting basis. Auction sales included in a given cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle.

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