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At recent sales, De Beers has permitted sightholders to purchase fewer goods to address oversupply and demand issues as part of a strategy to ‘rebalance’ the market. | Source: De Beers
At recent sales, De Beers has permitted sightholders to purchase fewer goods to address oversupply and demand issues as part of a strategy to ‘rebalance’ the market. | Source: De Beers

Diamond sales: Improvement expected in coming months

The world’s largest diamond mining company, the De Beers Group, has released its sales schedule for the year.

The diamond producer will host ten sights, with the first taking place on 15-19 January and the final on 9-13 December.

Al Cook, De Beers CEO
Al Cook, De Beers CEO
“Polished-diamond prices look to have stabilised as inventory levels have decreased, though we expect improvements in rough-diamond trading conditions to be gradual.”
Al Cook, De Beers

At recent sales, De Beers has permitted sightholders to purchase fewer goods to address oversupply and demand issues as part of a strategy to ‘rebalance’ the market.

The final sales cycle for 2023 took place between 9 November and 19 December, producing $US130 million ($AU193 million) in sales.

This marked a decline of 69 per cent on a year-on-year comparison; however, it was a 51 per cent improvement in sales from October.

“De Beers continued to offer lower levels of rough-diamond supply, in line with current demand,” said CEO Al Cook.

“Polished-diamond prices look to have stabilised as inventory levels have decreased, though we expect improvements in rough-diamond trading conditions to be gradual.”

De Beers’ 2024 sales schedule is as follows:

• 15-19 January
• 26 February - 1 March
• 2-5 April
• 6-10 May
• 10-14 June
• 22-26 July
• 26-30 August
• 7-11 October
• 11-15 November
• 9-13 December
 

More reading
De Beers: Diamond sales reach new low
A diamond is forever: De Beers announces $US20 million campaign
Sales slide: De Beers sales reach lowest mark of 2023
De Beers relaxes purchasing rules, Alrosa breaks silence
Sixth consecutive sales decline for De Beers

 











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