Global challenges soften De Beers Cycle 5!

Jun 21, 2023

GIA-illustrativeGlobal challenges soften De Beers Cycle 5!

De Beers Group announced the value of rough diamond sales (Global Sightholder Sales and Auctions) for the fifth sales cycle of 2023. The provisional rough diamond sales figure quoted for Cycle 5 represents the expected sales value for the period 5 and 20 June and remains subject to adjustment based on final completed sales.

Al Cook, CEO, De Beers Group, said: “Following the JCK Show, and with ongoing global macroeconomic challenges continuing to impact end-client sentiment, the diamond industry remains cautious heading into summer. Reflecting this, we saw demand for De Beers rough diamonds during the fifth sales cycle of the year slightly softer than in the fourth cycle.”

DeBeers Cycle 5 2023
(provisional)[1]
Cycle 4 2023
(actual)[2]
Cycle 5 2022
(actual)
Sales value[3]($m) 450 479 657

[1] Cycle 5 2023 provisional sales value represents sales as at 20 June 2023

[2] Cycle 4 2023 actual sales value represents sales between the dates of 1 and 16 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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