De Beers reports positive trend in rough diamond demand

GIA diamonds

The De Beers Group of Companies has today announced the value of rough diamond sales for the second sales cycle of 2016, citing a continued positive trend in rough diamond demand.

According to the report, De Beers sold $610m (£435) worth of rough diamonds in the second cycle of 2016, taking in to account global sightholder sales and auction sales.

Philippe Mellier, chief executive, De Beers Group, comments: “Retailer restocking after the end of year holiday season is supporting demand for polished diamonds and, in turn, we are seeing improved demand from the midstream for rough diamonds. However, we remain mindful of the need for a cautious approach as the recovery continues.”

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The company, which holds 10 sales cycles each year, said the second cycle results show signs of improvement as excess inventory has continued to work through the system in recent months.

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