De Beers rough diamond sales Cycle 5 remained faint

Expect a protracted U-shaped recovery in diamond demand 

De Beers Group announced the value of rough diamond sales for the fifth sales cycle of 2024. The provisional rough diamond sales figure quoted for Cycle 5 represents the expected sales value for the period and remains subject to adjustment based on final completed sales. 

De Beers Group CEO Al Cook said: “The northern summer is generally a quieter period for rough diamond sales, and this was reflected in our cycle 5 sales. The recent annual JCK jewellery show in Las Vegas confirmed a resurgence in retailers’ interest in natural diamonds in the United States but ongoing economic growth challenges in China mean we continue to expect a protracted U-shaped recovery in demand.” 

DeBeers	Cycle 5 2024 (provisional)[1]	Cycle 4 2024 (actual)[2]	Cycle 5 2023 (actual)
Sales value[3]($m)	315	383	456

[1] Cycle 5 2024 provisional sales value represents sales as at 25 June. [2] Cycle 4 2024 actual sales value represents sales between the dates of 18 April and 22 May. [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.