Thursday, July 18, 2024

De Beers’ rough diamond sales continue to drop

Top diamond producer, De Beers, has reported lower sales as the diamond industry continues to face constrained demand. De Beers recently reported that rough diamonds for the fifth sales cycle came at $315 million, down from $383 million in the fourth sales cycle and the $479 million earned in 2023’s fourth sales cycle.

The latest rough diamond sales spells bad news for the diamond industry as 2024 sales continue to fall below 2023 sales – which proved to have been a bad year for diamond sales – further sparking concerns if the natural diamond market would recover from the decline. 

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