DeBeers Cycle 4 said: uncertain road ahead!

                                         Second wave of Covid-19 in India                                                                                       Lower rough diamond demand! 

Robust demand for diamond Jewellery in the key US and China! 

Jewellery Market Bureau: De Beers Group announced the value of rough diamond sales (Global Sightholder Sales and Auctions) for the fourth sales cycle of 2021. Owing to the restrictions on the movement of people and products in various jurisdictions around the globe, De Beers Group has continued to implement a more flexible approach to rough diamond sales during the fourth sales cycle of 2021, with the Sight event extended beyond its normal week-long duration.

As a result, the provisional rough diamond sales figure quoted for Cycle 4 represents the expected sales value for the period 3 May to 18 May and remains subject to adjustment based on final completed sales. 

Bruce Cleaver, CEO, De Beers Group, said: “We continue to see robust demand for diamond jewellery in the key US and China consumer markets. 

However, the scale of the second wave of Covid-19 in India, where the majority of the world’s diamonds are cut and polished, has led to reduced midstream capacity and subsequently lower rough diamond demand, during what is already a seasonally slower time of year for midstream purchases. Our thoughts are with all those in India as the country navigates the current challenges presented by the pandemic – reminding us that the road ahead remains uncertain and that we must continue to adopt a watchful approach.” 

DeBeers Cycle	Cycle 4 2021 (provisional)[1]	Cycle 3 2021 (actual)[2]	Cycle 4/5 2020 (actual)
Sales value[3]($m)	$380	450	56

[1] Cycle 4 2021 provisional sales value represents sales as at 18 May 2021.                                                                      

[2] Cycle 3 2021 actual sales value represents sales between the dates of 22 March and 6 April.

[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.