Polished diamond prices on growing spree!

De Beers expect rough diamond demand to fully recover 

De Beers Group announced the value of rough diamond sales for the first sales cycle of 2024. The provisional rough diamond sales figure quoted for Cycle 1 represents the expected sales value for the period and remains subject to adjustment based on final completed sales.  

Al Cook, CEO, De Beers Group, said: “Solid consumer demand for diamonds in the United States over the year-end holiday season has certainly helped to stabilise the industry and we are seeing polished diamond prices increasing again.  

Combined with the restart of rough diamond imports into India, this has led to demand for rough diamonds increasing substantially in the first sales cycle of 2024. However, as the prospects for economic growth in many major economies remain uncertain, we expect that it may take some time for rough diamond demand to fully recover.”

 

DeBeers	Cycle 1 2024 (provisional)[1]	Cycle 10 2023 (actual)[2]	Cycle 1 2023 (actual)
Sales value[3]($m)	370	137	454

(1) Cycle 1 2024 provisional sales value represents sales as at 30 January 2024.  (2) Cycle 10 2023 actual sales value represents sales between the dates of 9 November and 19 December. (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.