De Beers’ rough-diamond sales soared to $650 million in January, its highest for any month since 2018, as manufacturers replenished inventory following the holiday season. The total was 18% more than the $551 million the miner garnered a year earlier, and 44% above the $452 million it reported in December, De Beers said Wednesday. This … Read more
The two largest diamond miners increased prices at this week’s rough sales as demand improved due to post-holiday restocking and strong trading ahead of the Chinese New Year. De Beers raised prices by an average of 4% to 5% at its first sight of 2021, while Alrosa’s increases were around 6% to 7%, industry insiders … Read more
The diamond sector’s rebound from the Covid-19 crisis will feature ups and downs that will continue into next year at least, De Beers predicted. “The demand recovery is not expected to be linear, particularly as localized lockdowns take place,” De Beers explained Monday in its annual Diamond Insight Report. “Retailer expectations for the second half … Read more
De Beers lowered prices of rough diamonds below 1 carat as the positive sales momentum that began last month continued during this week’s sight, sightholders told Rapaport News. The reductions for the September sight are between 5% and 10%, and follow the miner’s August price cut for rough above 1 carat. De Beers and rival … Read more
De Beers thinks the recovery is at an early stage and that it will take some time to get back to pre-pandemic levels of demand. (Image courtesy of De Beers Group.)De Beers, the world’s largest diamond producer by value, revealed on Friday it made about three times as much in sales of roughs in the … Read more
De Beers and Alrosa continued to see rock-bottom sales in June as buyers rejected the miners’ high rough prices in favor of cheaper goods from smaller suppliers. “[The major miners] want to hold on to prices, so people don’t see any [incentive] to buy because it’s difficult to sell and make money,” a sightholder told Rapaport … Read more
De Beers CEO Bruce Cleaver has called on the trade to allow rough purchases, assuring manufacturers the company won’t require them to buy in the weak market. “We will only sell [rough] when the demand is such that it can create sustainable value for all of us,” the executive wrote in a blog post Friday. … Read more
De Beers has reduced its full-year production guidance by 7 million carats, putting the miner on course for its lowest output since 2009. The miner expects to produce between 25 million and 27 million carats in 2020, compared to the 32 million to 34 million in its original projection, it said Thursday. The revised forecast … Read more
De Beers has called off this week’s sight in Botswana, citing restrictions resulting from measures to contain the coronavirus. Lockdowns in Botswana, South Africa and India are prohibiting sightholders from traveling and preventing the shipment of merchandise to clients’ international operations, De Beers said in a statement Monday. The company is letting sightholders defer 100% … Read more
De Beers’ rough-diamond sales declined 28% year on year to $355 million in February as the coronavirus hit demand. Many sightholders took up the miner’s offer to delay buying goods destined for China, sources in the rough market told Rapaport News. The company let clients reject certain 1- to 2-carat rough diamonds and reschedule those purchases … Read more