De Beers Group has announced the provisional value of rough diamond sales for the fourth sales cycle of 2024. This figure represents the expected sales value for the period, subject to adjustment.
Al Cook, CEO of De Beers Group, commented on the sales performance: “As expected, De Beers’ rough diamond sales in the fourth cycle of the year trended lower. This aligns with the seasonally slower second quarter and a quieter period of trading in India due to the elections.
The global diamond industry's focus now shifts to the JCK jewellery show in Las Vegas at the end of May. While short-term macroeconomic issues are likely to influence demand trends in the US, a recovery in engagements, as the after-effects of pandemic lockdowns fade, is expected to support the market in the coming years.”
The sales performance during this cycle underscores the typical seasonal fluctuations and external factors affecting the diamond trade, with anticipation building for the upcoming industry events and long-term recovery prospects.
